davesays300 greenKENTUCKY (4/28/13) – This week Dave discusses Starting over after divorce and Should she have skin in the game?
 
Dear Dave,
My divorce will be final in a month, and I’ll have $100,000 when everything is over. I will also have $8,000 in credit card debt, and I’m currently unemployed. Do you have any suggestions to help me move forward? - Meryl

Dear Meryl,
The first thing I want you to do is raise your right hand and promise never to use credit cards again. Then, if you still have any of those awful things, I want you to cut them up and close out the accounts. The next step is for you to find some kind of income, whether it’s a regular job or just something part-time to get money rolling in on a regular basis.

Your credit card debt is a small part of your financial picture right now. I think I’d go ahead and pay off the cards. That way, you’ll be debt-free and still have $92,000 in the bank. But here’s the key. You have to live like that money doesn’t exist. Use just enough to get yourself settled, and go make some money so you can eat and keep the lights on.

A year from now, when you’re past some of this stuff emotionally and looking toward a new future, that money will still be sitting there. As long as you have this mentality, you’ll come through this mess stronger and in good financial shape. God bless you, Meryl! - Dave

Dear Dave,
My daughter has the opportunity to take a trip with her eighth-grade class. The cost is $650. Do you think she should have to contribute to the cost of the trip, or should I cover it all? - Colleen

Dear Colleen,
This is a really good question. When it came to making these kinds of decisions at our house, we’d take a look at whether the kid was behaving, getting good grades and stuff like that. It can be a challenge at that age, I know. But if they were living like responsible young people, we would pay for this sort of thing as a reward.

Still, at that age a kid should definitely have some skin in game. If you can pay for this without breaking the bank, and she’s fulfilling her responsibilities as a good kid, it would be a good idea to make her come up with her own spending money for the trip. You don’t want her to grow a sense of entitlement, and doing this would force her to work and save a little bit to make this thing happen! - 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 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.

e-max.it: your social media marketing partner

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.

In Other News...

Madisonville Gaining Two New Businesses

MADISONVILLE, Ky. (9/2/15) — Good news came in pairs today as two new business locations were announced by developer… Read More

City of Paducah Commission Meeting Highlights

PADUCAH, Ky. (9/2/15) — The following are the highlights of the Paducah City Commission meeting from Tuesday, Sept. 1.… Read More

Most Read This Week

August 31, 2015 6708

Man Convicted of Hopkins Countian's Death Granted…

by Doreen Dennis, SurfKY News
September 02, 2015 5489

Madisonville Gaining Two New Businesses

by Ron Sanders
August 30, 2015 3934

UPDATED: 'He Fought the Law ... but, the Law Won'

by Doreen Dennis, SurfKY News
September 02, 2015 2746

Investigation Leads to Meth Trafficking Charge

by SurfKY News
August 30, 2015 2526

Happenings, Meetings Listed for Following Week

by Tammy Holloway, SurfKY News

Most Read This Month

August 06, 2015 19137

Muhlenberg Woman Reportedly Suffers Violent…

by SurfKY News
August 24, 2015 12072

Teen Reports Slasher Attempted to Attack Him on…

by Doreen Dennis, SurfKY News

Stories Trending Now

September 02, 2015 5489

Madisonville Gaining Two New Businesses

by Ron Sanders
September 02, 2015 2746

Investigation Leads to Meth Trafficking Charge

by SurfKY News
September 02, 2015 2247

UPDATE: Missing Teen Located

by SurfKY News
September 02, 2015 2034

Woman Allegedly Passed Out at Wheel Charged with…

by SurfKY News
September 02, 2015 1539

Crime Stoppers Top Most Wanted - September 2, 2015

by SurfKY News
September 02, 2015 1033

Madisonville Police Arrest Reports Released -…

by SurfKY News
September 02, 2015 999

Gov. Beshear's Statement on County Clerks,…

by SurfKY News
September 02, 2015 925

Hopkins County Sheriff's Reports Released

by SurfKY News
September 02, 2015 860

Blood Drive Boosts Blood Bank Deposits

by Tammy Holloway, SurfKY News
September 02, 2015 848

GPD Conducting Safety Checkpoints

by SurfKY News