Pick Your Community: | Hopkins | Muhlenberg | Daviess | Christian | Fayette | Henderson | Lakes | McCracken | Warren | Webster
Davis Motor Sales banner ad

Dave Says - November 25, 2012

dave R 300KENTUCKY (11/25/12) - This week Dave will be discussing Letting Them in on the Secret and What’s the Worst that can Happen?

Dear Dave,
I’m in a very fortunate position when it comes to my finances. I’m 25, and I make $50,000 a year. I’m also completely debt-free. In your opinion, when is it appropriate to let someone you’re dating know about your financial situation? - Anonymous

Dear Anonymous,
Wow, you are in a great position for someone so young. I’m not sure how you got there, but it certainly wasn’t by being dumb or immature.

I think it’s only natural in a dating situation to reveal more about oneself as time passes and the relationship gets deeper and more serious. In my mind, people who start throwing around financial information on a first date are either extremely superficial or just plain weird.

But after you’ve been dating a while, and definitely before you’re engaged, you should know everything about the other person. There should be complete disclosure in every area of your lives. That’s called intimacy. There’s no room for skeletons in the closet when it comes to a healthy relationship.

Just take your time and make sure you’re both committed to being open and honest about things. Then, as the relationship progresses, the depth of intimacy and the depth of information will progress in all areas of your lives. - Dave

Dear Dave,
My wife and I want to do a live-in/flip real estate purchase. The idea is to buy a fixer-upper and rent out the basement to help with the mortgage payments. What do you think about the idea? - Brian

Dear Brian,
I love real estate. I’ve flipped a few houses in my day too. But the particulars of the deal make me a little nervous.

In a situation like this you need to do a basic business analysis. You’ve got to have a plan and figure out the worst case scenario. Part of this is determining whether or not you can survive if things fall apart. In this case, the worst case is that you can’t get a renter and the house doesn’t sell. It puts your family in jeopardy if this happens, so to me it’s not an option.

Honestly, I think you’ve got house fever right now. The possibility I just mentioned isn’t a rare occurrence. Lots of people have had the same idea, with the best of intentions, and still end up in a big mess. But if you and your wife are willing to accept the possibility of things not working out like you planned—and the fact that you might have to take additional jobs for an unknown period of time just to make ends meet—then it might be a play. Me? I don’t like putting myself into skin-of-my-teeth positions intentionally. When I wore a younger man’s clothes, I was willing to do stuff and ignore the risk involved. Going broke years ago knocked that out of me in a hurry. Any deal that runs the risk of leaving you bankrupt, or the victim of a foreclosure, just isn’t worth it! - Dave
 
* Dave Ramsey is America’s trusted voice on money and business. He’s authored four New York Times best-selling books: Financial Peace, More Than Enough, The Total Money Makeover and EntreLeadership. The Dave Ramsey Show is heard by more than 5 million listeners each week on more than 500 radio stations. Follow Dave on Twitter at @DaveRamsey and on the web at daveramsey.com.

Disclaimer: The content supplied by columnists and letters to the Editor on this site does not in any way, shape or form, implied or otherwise, necessarily express or suggest endorsement or support of any of such content, statement, or opinions therein. SurfKY News does not necessarily adhere to or endorse content provided by outside non-staff sources.

© Copyright 2014 SurfKY News Group, Inc. All rights reserved. This material may not be published, broadcast, or rewritten without permission. SurfKY News encourages you to share this story by using one of the social media links below.

Started 11/8/2013
Started 11/8/2013
Started 11/8/2013
Started 11/8/2013
Started 11/8/2013
Started 11/8/2013

In Other News...

Dawson Springs Police Reports Released

DAWSON SPRINGS, Ky. (7/28/14) — The Dawson Springs Police Department released the following reports Monday, July 28.… Read More

Two Vehicles Collide on Pennyrile Parkway

NORTONVILLE, Ky. (7/28/14) ― A juvenile passenger went to the hospital for possible injuries after the vehicle he was… Read More
Started 11/8/2013
Started 11/8/2013

Most Read This Week (Site-Wide)

July 24, 2014 3801

Powderly Man Injured in Apparent Gun…

in Top Stories by Charles W. Riley II, SurfKY News
July 24, 2014 2707

Madisonville Man Charged for Drugs,…

in Top Stories by Trooper Stu Recke
July 25, 2014 2109

No One Injured in Truck-Train Collision

in Top Stories by Ami Clayton, SurfKY News
July 24, 2014 1716

Muhlenberg to Have State's Only Honey…

in Top Stories by Charles W. Riley II, SurfKY News
July 25, 2014 1385

Vehicle Strikes Lawn Mower Driven on…

in Top Stories by Dep. Mike Evans

Most Read Stories from Hopkins County

July 24, 2014 2707

Madisonville Man Charged for Drugs,…

in Top Stories by Trooper Stu Recke
July 25, 2014 2109

No One Injured in Truck-Train Collision

in Top Stories by Ami Clayton, SurfKY News
July 25, 2014 1385

Vehicle Strikes Lawn Mower Driven on…

in Top Stories by Dep. Mike Evans
July 24, 2014 1058

Hopkins County Fair Provides Family Fun

in Top Stories by Ami Clayton, SurfKY News
July 27, 2014 865

Hopkins County Fair Concludes

in Top Stories by Ami Clayton, SurfKY News

Most Read Stories from Owensboro

July 24, 2014 1302

US 231 Ohio River 'William Natcher'…

in News by Keith Todd
July 24, 2014 991

Maintenance Scheduled at Fisher Park and…

in News by Brittni Bunn
July 24, 2014 847

Portion of Spring Bank Drive Closed…

in News by Sherry Girten
July 24, 2014 275

Owensboro Southern 11-Year-Olds Finish…

in Top Stories by Steve LeMaster
July 28, 2014 162

Dont Miss Out on a Howl of a Good Time

in News by Brittni Bunn

Most Read Stories from Muhlenberg County

July 24, 2014 3801

Powderly Man Injured in Apparent Gun…

in Top Stories by Charles W. Riley II, SurfKY News
July 24, 2014 1716

Muhlenberg to Have State's Only Honey…

in Top Stories by Charles W. Riley II, SurfKY News
July 24, 2014 1267

Marching Mustangs Band Camp Underway

in Top Stories by Charles W. Riley II, SurfKY News
July 25, 2014 1139

Business Spotlight - McQuady's Automotive

in Top Stories by Charles W. Riley II, SurfKY News
July 25, 2014 990

Business Spotlight - Blue Moon Car Wash

in Top Stories by Charles W. Riley II, SurfKY News

SurfKY News Group, Inc. Central Office & Printing Division
1125 Nebo Rd.  •  Madisonville, KY 42431  •  270.452.2249 (fax)
Main Number: 270.452.2727 (phone)  •  Printing Division Direct Line: 270.821.8600 (phone)

SurfKY Owensboro News Bureau
920 Frederica St. / Suite 210  •  Owensboro, KY 42301  •  270.683-8060 (phone)


Contact a member of our staff: www.surfky.com/contact
Copyright © 2014 SurfKY News Group, Inc.  •  Terms of Use  •  Site Map

social 06social 21social 22social 04social 03