davesays300 green2KENTUCKY (11/18/12) - This week Dave will be discussing Authorized Users Don’t Help Your Credit and Season Tickets are a Luxury.
 
Dear Dave,
My brother asked me to put his name on my credit card as an authorized user. He said it will help improve his credit score. Is this true, and would it help my score in any way? - Anna

Dear Anna,
Your brother is wrong. It will not improve his credit score at all. As an authorized user, he is not the owner of the debt. There’s a high likelihood that it will affect your credit score in a negative way, though, because there’s a good chance he’ll do some dumb things with your card.

Look at it this way. Why would someone give him credit, or raise his credit score, just for using your credit? It doesn’t make sense. Your credit score is affected by things like whether or not you pay your bill on time. The card isn’t in his name, so really all this amounts to is him having fun with your card, and you’re the one who’s liable for the damage. The truth is that authorized users shouldn’t even show up on a credit report.

It sounds like your brother has some financial problems. While I admire the fact that he wants to fix things, this is not the answer. Don’t misunderstand what I’m saying, Anna. Chances are he’s not trying to con you. He probably just got some bad information. But the hard truth is this: If you go along with his idea, it’s not going to help him, and it’s going to hurt you. Don’t do it! - Dave
 
Dear Dave,
In terms of a family’s financial plan, when is it okay to purchase something like NFL season tickets? Is this the kind of thing that should wait until you’re debt-free and can afford to pay cash for them? - Greg

Dear Greg,
Absolutely, you should wait until you’re debt-free and can pay cash. That kind of thing is a prime example of an expensive, luxury purchase.

I’m an NFL season ticket holder for the Tennessee Titans. But I’ve been debt-free for years, and my family’s financial future is very secure. Whether the Titans win or lose, or whether I watch the games in person or in front of the television, has no impact on their security. However, if you’re sitting there with credit card debt, a car payment and living paycheck to paycheck, you’ve got no business buying season tickets. Get yourself out of debt, build an emergency fund, and make sure your family is taken care of first. Then you can have some fun. Live like no one else so that later you can live like no one else. And then, if that includes season tickets to your favorite football, baseball or hockey team, have a blast!

Remember, this kind of thing is entertainment. I know a lot of silly people out there act like whoever wins a football game is a matter of life and death, but it’s just a game. Your life and your financial future are not games, and they’re not things to be taken lightly. First things first, Greg. There will be plenty of time for that kind of fun when you can afford 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 www.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.

LIKE SurfKY on Facebook - Click here to LIKE us now.

© Copyright 2015 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 on social media.

Posted on 2/2/14
3/13 - 16
3/13 - 16

Most Read This Week

March 27, 2015 6126

Three Arrested during Execution of Search…

by Madisonville Police Department/Hopkins County Detention Center
March 25, 2015 5586

Fazoli's, Roses Coming to Madisonville

by Amber Averitt, SurfKY News
March 24, 2015 5282

One Dies, Another Injured in Mortons Gap Traffic…

by Deputy Heath Owens
March 25, 2015 5220

Grand Jury Finds No Criminal Wrongdoing in Bean…

by Doreen Dennis, SurfKY News
March 30, 2015 4951

Man Charged with Child Abuse After Allegedly…

by Madisonville Police Department
March 24, 2015 4357

UPDATE: One Injured in Hopkinsville Road Accident

by Doreen Dennis, SurfKY News

Most Read This Month

March 09, 2015 14303

Multi-Agency Drug Bust Results in $1 Million Meth…

by KSP DESI
March 02, 2015 11716

Madisonville Teen Faces Numerous Drug Charges

by Madisonville Police Department/Hopkins County Detention Center

Stories Trending Today

March 31, 2015 2260

Man Charged for Driving While under Influence of…

by Madisonville Police Department
March 31, 2015 1368

Happenings and Meetings - Hopkins County

by Amber Averitt, SurfKY News
March 31, 2015 1319

Covenant Community Church Hosts Annual…

by Tammy Holloway, SurfKY News
March 31, 2015 1092

Hopkins County Misdemeanor Indictments

by Karen McKnight
March 31, 2015 1072

Madisonville Police Reports Released - March 31,…

by Madisonville Police Department
April 01, 2015 941

Madisonville Man Injured in Head-on Collision…

by Doreen Dennis, SurfKY News
March 31, 2015 799

Glema Center April Schedule Features Jo Dee…

by Gary Gates, SurfKY News
March 30, 2015 710

Members from Madisonville Police, Hopkinsville…

by Abbie Darst
April 01, 2015 655

Couple Charged on Multiple Drug Offenses, Child…

by Sheriff Matt Sanderson
March 31, 2015 518

Baptist Health Madisonville Upgrades Technology…

by Baptist Health