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

Dave Says – March 10, 2013

dave R2 300KENTUCKY (3/10/13) – This week Dave discusses What’s the Difference? and There’s a Better Option.
 
Dear Dave,

My wife and I make $140,000 a year, and we’re working on our debt snowball. We’re almost out of debt, but we still have two small car payments and some credit card debt. She wants to get rid of the credit card debt but doesn’t mind us having car payments. Can you help me understand this? - Kelly

Dear Kelly,
I’m not sure I understand her thinking either. The car payments and the credit card debt are the same thing. They’re both debt payments, and you’re being charged interest on both of them. The only difference is that one is attached to a car and one’s not. It makes about as much sense as saying you like Visa better than MasterCard.

Even if she has some strange hang-up about car depreciation, that argument doesn’t hold water either. Cars go down in value whether you borrowed money to buy them or not. A $20,000 vehicle will be worth $10,000 in just a few years no matter what you do. A car payment won’t keep it from depreciating or slow the rate of depreciation.

Sometimes people get burned out or tired of paying the price to become debt-free. It can happen when you’ve been working on something for a while, and it seems like you’re never going to get there. Sit down and have a gentle, loving talk with your wife. Find out why she feels that way about the car payments and where the root of the problem really lies.

She may just need some support and encouragement from the man in her life. Remind her how far you’ve come together on this journey, how close you are to winning, and how much you love her. You’re too close to making your financial dreams come true to stop now! - Dave
 
Dear Dave,
I’m 23 years old, and I was in the military for five years. While serving I received what is now $2,700 in Series EE bonds. Should I keep them? - Tammy

Dear Tammy,
If it were me, I’d cash them in and do my own investing with the money. Series EE bonds have a very low rate of return. They don’t pay much, and they’re not good long-term investments. They’re almost like keeping your money in a certificate of deposit over the long haul.

Investing is never a bad idea, and I know that may seem like a lot of money to you at the moment. But my advice is to cash out the bonds, find a financial advisor with the heart of a teacher, and invest the money in growth stock mutual funds with a good five- to 10-year track record. After that, get set up for auto-draft on your checking account and put at least $50 a month into your new mutual fund. That’s a much better plan! - 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.

Posted on 2/2/14
Genovese - http://www.mchky.org/staff/bio.php?doc_id=35646&sub= Lewis - http://www.mchky.org/getpage.php?name=bracken_lewis Holt - http://www.mchky.org/getpage.php?name=drholt Napier - http://www.mchky.org/getpage.php?name=dr.napier_page Newman - http://www.mchky.org/staff/bio.php?doc_id=50353
Genovese - http://www.mchky.org/staff/bio.php?doc_id=35646&sub= Lewis - http://www.mchky.org/getpage.php?name=bracken_lewis Holt - http://www.mchky.org/getpage.php?name=drholt Napier - http://www.mchky.org/getpage.php?name=dr.napier_page Newman - http://www.mchky.org/staff/bio.php?doc_id=50353
2/6/2014 - posted
Genovese - http://www.mchky.org/staff/bio.php?doc_id=35646&sub= Lewis - http://www.mchky.org/getpage.php?name=bracken_lewis Holt - http://www.mchky.org/getpage.php?name=drholt Napier - http://www.mchky.org/getpage.php?name=dr.napier_page Newman - http://www.mchky.org/staff/bio.php?doc_id=50353
Genovese - http://www.mchky.org/staff/bio.php?doc_id=35646&sub= Lewis - http://www.mchky.org/getpage.php?name=bracken_lewis Holt - http://www.mchky.org/getpage.php?name=drholt Napier - http://www.mchky.org/getpage.php?name=dr.napier_page Newman - http://www.mchky.org/staff/bio.php?doc_id=50353
2/6/2014 - posted
Genovese - http://www.mchky.org/staff/bio.php?doc_id=35646&sub= Lewis - http://www.mchky.org/getpage.php?name=bracken_lewis Holt - http://www.mchky.org/getpage.php?name=drholt Napier - http://www.mchky.org/getpage.php?name=dr.napier_page Newman - http://www.mchky.org/staff/bio.php?doc_id=50353
Genovese - http://www.mchky.org/staff/bio.php?doc_id=35646&sub= Lewis - http://www.mchky.org/getpage.php?name=bracken_lewis Holt - http://www.mchky.org/getpage.php?name=drholt Napier - http://www.mchky.org/getpage.php?name=dr.napier_page Newman - http://www.mchky.org/staff/bio.php?doc_id=50353
2/6/2014 - posted

In Other News...

Hopkins County Sheriff's Arrest Reports

HOPKINS COUNTY, Ky. (7/30/14) — The Hopkins County Sheriff's Office released the following reports Wednesday, July 30.… Read More

Marijuana Arrest

WARREN COUNTY, Ky. (7/30/14) — On July 29, 2014 at 12:19 a.m., Warren County Sheriff's Deputies responded to 245 Kelly… Read More
Genovese - http://www.mchky.org/staff/bio.php?doc_id=35646&sub= Lewis - http://www.mchky.org/getpage.php?name=bracken_lewis Holt - http://www.mchky.org/getpage.php?name=drholt Napier - http://www.mchky.org/getpage.php?name=dr.napier_page Newman - http://www.mchky.org/staff/bio.php?doc_id=50353
Genovese - http://www.mchky.org/staff/bio.php?doc_id=35646&sub= Lewis - http://www.mchky.org/getpage.php?name=bracken_lewis Holt - http://www.mchky.org/getpage.php?name=drholt Napier - http://www.mchky.org/getpage.php?name=dr.napier_page Newman - http://www.mchky.org/staff/bio.php?doc_id=50353
2/6/2014 - posted

Most Read This Week (Site-Wide)

July 28, 2014 3143

Madisonville Woman Arrested for Being a…

in Top Stories by Madisonville Police Department
July 28, 2014 2788

Madisonville Man Arrested for Endangering…

in Top Stories by Madisonville Police Department
July 30, 2014 2497

UPDATE: Waide Responds to Allegations of…

in Top Stories by Daniel Kemp
July 28, 2014 2334

Disagreement Over Killing Snake in House…

in Top Stories by Madisonville Police Department
July 28, 2014 1636

Two Injured in Vehicle Collision on…

in Top Stories by William Roundtree

Most Read Stories from Hopkins County

July 28, 2014 3143

Madisonville Woman Arrested for Being a…

in Top Stories by Madisonville Police Department
July 28, 2014 2788

Madisonville Man Arrested for Endangering…

in Top Stories by Madisonville Police Department
July 28, 2014 2334

Disagreement Over Killing Snake in House…

in Top Stories by Madisonville Police Department
July 28, 2014 1636

Two Injured in Vehicle Collision on…

in Top Stories by William Roundtree
July 28, 2014 1626

Madisonville Man Arrested for Assault,…

in Top Stories by Madisonville Police Department

Most Read Stories from Owensboro

July 28, 2014 967

Zuberer Takes Over at Quarterback for…

in News by Steve LeMaster
July 28, 2014 882

Dont Miss Out on a Howl of a Good Time

in News by Brittni Bunn
July 28, 2014 747

Instant Admissions Day is Aug. 1, 2014

in News by Bernie Hale
July 29, 2014 534

Happenings and Meetings - Daviess County

in News by Owensboro-Daviess County Convention & Visitors Bureau
July 28, 2014 391

Prosecutors Mull Over Whether to Charge…

in Top Stories by Dennis Beard, SurfKY News

Most Read Stories from Muhlenberg County

July 30, 2014 1561

UPDATE: Muhlenberg Man, Woman Arrested in…

in Top Stories by Sheriff Curtis McGehee
July 28, 2014 1253

Foot Pursuit Ends with Arrest

in Top Stories by Christopher Rogers
July 28, 2014 1158

Boys of Broad to Launch Video at Cinema 4

in Top Stories by Paul McRee, SurfKY News
July 29, 2014 1068

Muhlenberg District Court Fines Handed…

in Top Stories by Charles W. Riley II, SurfKY News
July 29, 2014 968

McLean County Man Charged for Alleged…

in Top Stories by Sheriff Curtis McGehee

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