Pick Your Community: | Hopkins | Muhlenberg | Daviess | Christian | Fayette | Henderson | Lakes | McCracken | Warren | Webster

Dave Says – Nov. 10, 2013

dave says2 300KENTUCKY (11/10/13) – This week Dave discusses 'Single and staying on track' and 'A prodigal daughter'
 
Dear Dave,
Do you have any tips for how a single person can stay on track with their finances? - Debbie

Dear Debbie,
It’s really pretty simple. The first thing is the same advice I give to married couples, and that is to live on a monthly budget. Sit down at the end of each month and write down—on paper—all your expenses and income for the following month.

When you think about it, budgeting really isn’t that difficult. Some of your expenses, like your rent or mortgage payment, will be the same. If you have a car payment (which I really hope you don’t), it will remain constant, as well. Things like groceries and utilities may fluctuate based on the time of year, but you can make a pretty accurate estimate by looking at past months.

The second thing I’d recommend is that you find someone to be your accountability partner. It should be someone who is wise and good with money and a person who loves you enough to call your bluff or hurt your feelings a little when necessary. They can be a close friend, parent or even your pastor. Just sit down together over a cup of coffee once a month and talk about your finances. You could even go over your budget together line by line.

Ideally an accountability partner is someone who’s ahead of you on a particular journey and can help direct you along the path to wisdom. It’s their job to hold you accountable for what you’re doing and the decisions you’re making, for your own good! - Dave
 
Dear Dave,
My daughter used to live an irresponsible lifestyle and was bad with money, too. While she was in college she also took on $20,000 in student loan debt. Since that time she experienced a serious illness. She’s recovering now, and it has really changed her behavior and her outlook on life, spiritual matters and money for the better. I could pay off the loans for her, but I’m wondering if there’s a better way to help. - Eddie

Dear Eddie,
If I were in your shoes, and I had the means to pay off her student loan debt without putting myself at risk financially, that’s exactly what I’d do.

Sometimes the best gift you can give a person is to let them wallow around for a while in the mess they made. Being forced to work your way out of bad decisions and irresponsible behaviors is a great remedy in lots of cases. But in this situation, with what you’ve told me about her previous health issue, and the fact that she’s now being responsible with money, behaving and making better life choices, I’d want her to be as free as possible as she takes up this new walk.

My advice is to try and be a huge blessing to your daughter. Right now, she’s a lot like the prodigal son. She’s come around in her thinking and realizes what’s right and what really matters. Give her the biggest hug she’s ever had, Eddie. Then, throw a party and write a check to knock out that student loan debt! - 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 6 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.

© 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.

In Other News...

Muhlenberg Judges Visit Yonts During Kentucky General Assembly

FRANKFORT, Ky. (4/15/14) — Kentucky Court of Appeals Judge Christopher Shea Nickell (far left) of the First Appellate… Read More

Thumbpickers Unite at Mose Rager Day

DRAKESBORO, Ky. (4/15/14) — Mose Rager is a name still unknown to many people outside the world of guitar pickers. But… Read More

Most Read This Week (Site-Wide)

April 16, 2014 17879

UPDATE- Sheriff's Office Following Leads…

in Top Stories by Taylor Riley, SurfKY News Reporter
April 14, 2014 5935

U.S. Bank Hanson on Lockdown Due to Bomb…

in Top Stories by Rita Dukes Smith, SurfKY News Director
April 14, 2014 5122

Pedestrian Killed During Two Vehicle…

in Top Stories by Chris E. King
April 13, 2014 4358

One Dead in Two Vehicle Head On Collision

in Top Stories by Chris E. King
April 15, 2014 2845

Police Searching for Sureway's 'Baby…

in Top Stories by Taylor Riley, SurfKY News Reporter

Most Read Stories from Hopkins County

April 14, 2014 5122

Pedestrian Killed During Two Vehicle…

in Top Stories by Chris E. King
April 13, 2014 4358

One Dead in Two Vehicle Head On Collision

in Top Stories by Chris E. King
April 15, 2014 2845

Police Searching for Sureway's 'Baby…

in Top Stories by Taylor Riley, SurfKY News Reporter
April 12, 2014 2753

One Injured in Two Vehicle Accident in…

in Top Stories by Rita Dukes Smith, SurfKY News Director
April 15, 2014 2412

Multi-Agency Investigation Leads to Drug…

in Top Stories by Lori Blakeley

Most Read Stories from Owensboro

April 14, 2014 1806

Grow Garden Grow - Spring Has Sprung

in News by Barbara Cecil Russ
April 15, 2014 1189

Owensboro Police Investigate Auto Accident

in News by Michael Hathaway
April 13, 2014 931

Two Daviess County Men Busted for…

in Top Stories by Scott Gibbs
April 15, 2014 928

Owensboro Parks Offers Tennis Lessons

in News by Britni Bunn
April 14, 2014 600

Owensboro Health Hosts Tours for…

in Top Stories by Dennis Beard, SurfKY News

Most Read Stories from Muhlenberg County

April 13, 2014 2764

Muhlenberg 4-H is Buzzing

in Top Stories by Janie Culton
April 14, 2014 2176

MCC Staff Shares Good News with…

in Top Stories by Paul McRee, SurfKY News Reporter
April 16, 2014 2036

Sheriff's Deputies Nab Central City…

in Top Stories by Sheriff Curtis McGehee
April 15, 2014 1505

'Walk Right Back' An Everly Brother's…

in Top Stories by Paul McRee, SurfKY News Reporter
April 15, 2014 1398

Local MCHS Students Train at Job Corps

in Top Stories by Karen Robinson

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