Thursday, January 29, 2015
Davis Motor Sales banner ad

dave says2 300KENTUCKY (12/22/13) — This week Dave discusses 'model behavior' and 'garnishing while paying.'

Dear Dave,
I live in Los Angeles, and my daughter makes $3,000 to $5,000 a month modeling. I don’t want her to become spoiled by this job and the income, and I need advice on what to do with the money. Should it be put aside for a car, and do you think she should have to pay for something like that herself?
—Lisa

Dear Lisa,
So how do we keep a high-income, high-profile job from ruining this little girl? I think a lot of it has to do with her interaction with you, and how you gently mold her work ethic and attitude. Don’t let her become a diva. She’s not there to be fawned over or placed on a pedestal. She’s there to serve. That means working hard and doing the best she can. That’s her job whether she’s flipping burgers or making $5,000 a month modeling. The money’s nice, but what we’re really doing is making sure she learns some important life lessons. And you’re still being a parent, not a friend or peer, through every moment.

When it comes to the money, you guys should sit down and discuss some goals for the future. I think it’s important that any car purchase be reasonable, because the best thing a kid this age could do with that kind of money is save up for college. Even if she goes to school on a full scholarship, she should be driving something low-key. Just because she gets a free ride in college doesn’t mean she gets to cruise the streets in a Lamborghini. Set the rest of it aside for when life really begins—after college.

As her mom, it’s very important that you teach her these lessons now. It’s essential, too, that you don’t surrender the position of parent, teacher and leader. Chances are when this young lady is 34, no one will give a flip that she modeled for a while as a teenager. The most important things here are the lessons taught and learned, not the money.
—Dave

Dear Dave,
My husband and I have about $60,000 in federally insured student loans. Can our wages be garnished if we’re paying less than the actual payment amount? If so, how far behind do we have to be for that to happen?
—Jennifer

Dear Jennifer,
To the best of my knowledge there’s no set formula for making this determination. In counseling people, we find some folks who are two years behind making payments before anything is done, while others are flagged at just a couple of months. In reality, they can garnish you immediately if you’re paying less than the agreed-upon amount. But in most cases they won’t mess with you as long as there’s reasonable activity on the account.

The thing most people don’t realize about student loans is that a lawyer doesn’t have to be involved for them to garnish your wages. It’s a lot like the IRS in that they don’t have to sue you in order to take your wages. Congress gave them that power because it’s a federally insured loan. And in my mind, that’s way too much power.

If you’re having trouble making your payments, don’t just throw up your hands and default. Talk to them about a deferral, and keep sending them whatever you can. It’s always better to be proactive than reactive in situations like these. Let them know you want to make good on your obligation, and ask what you can do to make this happen under terms you can afford.

Good luck, Jennifer!
—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 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 by using one of the social media links below.

Started 11/8/2013
Started 11/8/2013

In Other News...

Owensboro Falls to Lady Maroons, 46-40

MADISONVILLE, Ky. (1/28/15) — Junior guard/forward Adarian Gray scored 21 points and Shyia Foster, a junior guard,… Read More

Letter to the Editor - Month of Mentors

HOPKINS COUNTY, Ky. (1/28/15) — January is National Mentoring Month. We would like to acknowledge our volunteers to let… Read More
Started 11/8/2013
Started 11/8/2013

Most Read This Week

January 28, 2015 15301

UPDATED: Several Involved in Two-Vehicle Accident

in Local (Hopkins) Top News by Doreen Dennis, SurfKY News
January 23, 2015 9764

Local Church's Faith Restored; 71 Souls Saved…

in Video by Gary Gates, SurfKY News
January 26, 2015 6453

KSP Arrests Two on Child Porn Charges; MPD…

in Top News For All Sites Touching Hopkins by Trooper Stu Recke
January 25, 2015 6393

Dean’s List Announced

in Top News For All Sites Touching Hopkins by Joyce Riggs
January 23, 2015 6024

Parents Face Charges after Marijuana Joint Falls…

in Local (Hopkins) Top News by Madisonville Police Department/Hopkins County Jail
January 28, 2015 5479

Nortonville Man Accused of Meth Possession,…

in Local (Hopkins) Top News by Madisonville Police Department/Hopkins County Detention Center
January 23, 2015 4801

Nortonville Woman Charged for Meth Possession

in Local (Hopkins) Top News by Hopkins County Sheriff's Office/Hopkins County Detention Center
January 26, 2015 4252

School Board Votes 3-2 for Utility Tax

in Local (Muhlenberg) Top News by Charles W. Riley II, SurfKY News

Most Read This Month

January 08, 2015 21495

Woman Claiming to be 'Lady Gaga' Tours Town in…

in Top News For All Sites by Madisonville Police Department
January 15, 2015 21256

UPDATE: Fatality Victim's Name Officially Released

in Top News For All Sites by Doreen Dennis, SurfKY News

Stories Trending Today

January 28, 2015 15301

UPDATED: Several Involved in Two-Vehicle Accident

in Local (Hopkins) Top News by Doreen Dennis, SurfKY News
January 28, 2015 5479

Nortonville Man Accused of Meth Possession,…

in Local (Hopkins) Top News by Madisonville Police Department/Hopkins County Detention Center
January 28, 2015 3342

Tax Recall Committee Formed Day After School…

in Local (Muhlenberg) Top News by Charles W. Riley II, SurfKY News
January 28, 2015 2179

Madisonville Police Arrest Reports - Jan. 28, 2015

in Hopkins News by Madisonville Police Department
January 27, 2015 2000

Whitfield Works to Combat Prescription Drug Abuse

in General News For All Sites by Marty Irby
January 28, 2015 1639

Muhlenberg District Court Fines Handed Down

in Local (Muhlenberg) Top News by Charles W. Riley II, SurfKY News
January 29, 2015 1575

UPDATE - Students Have until Jan. 31 to Enter…

in General News For All Sites by James R. Comer
January 28, 2015 1366

Hopkins County Sheriff's Reports Released

in Hopkins News by Hopkins County Sheriff's Office
January 28, 2015 1157

Old City Hall Space to be 'First United Bank…

in Local (Hopkins) Top News by Doreen Dennis, SurfKY News
January 28, 2015 999

Letter to the Editor - Month of Mentors

in Hopkins News by Mallory D. Johnson
January 28, 2015 980

Crime Stoppers Top Most Wanted - January 28, 2015

in Video by Crime Stoppers
January 28, 2015 969

Kentucky Lottery Results for Tuesday Jan. 27, 2015

in General News For All Sites by Kentucky Lottery