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

Dave Says – August 25, 2013

dave ramsey blackwhite 300KENTUCKY (8/25/13) – This week Dave discusses "Bankruptcy just for her?" and "The ever-changing budget"
 
Dear Dave,
My husband and I would like to buy a home in the next year or so. My credit is in pretty bad shape, so we’ve decided to work on getting his credit in better shape in order to qualify for a mortgage loan. I have $104,000 in debt, and $92,000 of that is in student loans. He has $13,000 in debt, with $7,000 of that a repossession on a car for which he was a co-signer. Can I file bankruptcy on my debts only? - Latrell

Dear Latrell,
You can’t file bankruptcy on certain, specific items. By the way, student loans are not bankruptable. Even if you filed, you would still have all that debt hanging around your neck.

I want you to own a home, but I don’t want your home to own you. Neither one of you have done very well with money so far, and at this point I’m afraid a house would be a curse instead of a blessing in your lives. I would encourage you to build a stronger financial foundation before you buy a house. In short, this means you need to get out of debt, save money, and start living on a budget.

Latrell, buying a house when you’re broke and deeply in debt is never a good idea. I’m not trying to be mean, but I really think you’re asking the wrong question. I don’t want you to try and use bankruptcy as some kind of escape from this situation. Right now, I want you to change your behavior with money and get things cleaned up with a good, organized financial plan in your lives. - Dave
 

Dear Dave,
Should a budget change every month? - Anonymous

Dear Anonymous,
Yes, it should. Your life changes every month, and your budget should reflect the ebb and flow of your life.

Now, some things will stay the same. Your house payment or rent should fall into this category. If you have a car payment, which I hope you don’t, that would be the same too. There shouldn’t be a big difference in the amount you spend on food most months though. You might spend more in this category during November and December thanks to the holidays, but overall it should remain pretty steady.

The biggest fluctuation you may see is in your utilities. I heat my house with natural gas, so the bill is much higher during the winter months. It’s just the opposite during the summer. We burn electricity to run the air conditioner, so the electric bill is higher in summer.

This is part of the reason I urge people to do a budget on paper, on purpose before the next month begins. You may look at the upcoming month and realize the kids have soccer pictures scheduled. There may be a school trip planned, or they may need back-to-school clothes and supplies.

When it comes to a budget, there’s no easy out. Things change from month to month, and you need to think, plan ahead, and itemize so your budget is an accurate reflection of your life! - 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.

 

© 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.

3/12 - 718 switched from reg 2 to hopkins only
447 on Feb 15th (Val ad ended) switched to kid books
CHANGED TO SIMPLE AD ON 2/19 619 HITS
3/12 - 718 switched from reg 2 to hopkins only
447 on Feb 15th (Val ad ended) switched to kid books
CHANGED TO SIMPLE AD ON 2/19 619 HITS
3/12 - 718 switched from reg 2 to hopkins only
447 on Feb 15th (Val ad ended) switched to kid books
CHANGED TO SIMPLE AD ON 2/19 619 HITS

In Other News...

Three Injured in Kentucky 70 Collision

CENTRAL CITY, Ky. (4/16/14) — Three people were injured when the vehicle they were riding in veered off the road on… Read More

Cadiz Police Reports — April 16, 2014

CADIZ, Ky. (4/16/14) — The Cadiz Police Department released the following arrest reports on Wednesday, April 16.… Read More
3/12 - 718 switched from reg 2 to hopkins only
447 on Feb 15th (Val ad ended) switched to kid books
CHANGED TO SIMPLE AD ON 2/19 619 HITS

Most Read This Week (Site-Wide)

April 16, 2014 17949

UPDATE- Sheriff's Office Following Leads…

in Top Stories by Taylor Riley, SurfKY News Reporter
April 14, 2014 5958

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

in Top Stories by Rita Dukes Smith, SurfKY News Director
April 14, 2014 5123

Pedestrian Killed During Two Vehicle…

in Top Stories by Chris E. King
April 13, 2014 4360

One Dead in Two Vehicle Head On Collision

in Top Stories by Chris E. King
April 15, 2014 2854

Police Searching for Sureway's 'Baby…

in Top Stories by Taylor Riley, SurfKY News Reporter

Most Read Stories from Hopkins County

April 14, 2014 5123

Pedestrian Killed During Two Vehicle…

in Top Stories by Chris E. King
April 13, 2014 4360

One Dead in Two Vehicle Head On Collision

in Top Stories by Chris E. King
April 15, 2014 2854

Police Searching for Sureway's 'Baby…

in Top Stories by Taylor Riley, SurfKY News Reporter
April 15, 2014 2436

Multi-Agency Investigation Leads to Drug…

in Top Stories by Lori Blakeley
April 13, 2014 1826

One Injured in ATV Accident in Dawson…

in Top Stories by Chris E. King

Most Read Stories from Owensboro

April 14, 2014 1819

Grow Garden Grow - Spring Has Sprung

in News by Barbara Cecil Russ
April 15, 2014 1219

Owensboro Police Investigate Auto Accident

in News by Michael Hathaway
April 15, 2014 956

Owensboro Parks Offers Tennis Lessons

in News by Britni Bunn
April 13, 2014 935

Two Daviess County Men Busted for…

in Top Stories by Scott Gibbs
April 14, 2014 602

Owensboro Health Hosts Tours for…

in Top Stories by Dennis Beard, SurfKY News

Most Read Stories from Muhlenberg County

April 13, 2014 2778

Muhlenberg 4-H is Buzzing

in Top Stories by Janie Culton
April 14, 2014 2204

MCC Staff Shares Good News with…

in Top Stories by Paul McRee, SurfKY News Reporter
April 16, 2014 2098

Sheriff's Deputies Nab Central City…

in Top Stories by Sheriff Curtis McGehee
April 15, 2014 1531

'Walk Right Back' An Everly Brother's…

in Top Stories by Paul McRee, SurfKY News Reporter
April 15, 2014 1419

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