Teaching kids there’s an emotional connection between work and money is one of the best things you can do as a parent. That's where paid chores come in.
A young 20something daughter wants to help her mother, who's struggling with a career and finances. Mom might be more likely to take advice from someone her own age.
The only purpose of an emergency fund is to have cash on hand immediately for an urgent situation.. It’s not an investment or designed to replace income.
A family dealing with job loss is debt-free, and has a six-month emergency fund saved up. From there, they should strip their budget, Dave Ramsey says.
The parents of a 27-year-old in debt but who still bought a fancy car should let him wallow in the consequences of his irresponsible behavior for a while.
A couple in debt and expecting a second child wonder if they should sell their house to pay down their loans. Dave Ramsey advises them to keep the house and cut back on spending.
Goals and dreams always have a better chance of coming true if you have a written game plan. Put your budget down on paper. You may have to give up a few things for a while, but you'll get out of debt.
Many factors, such as your current health and family history, could play into your decision of exactly when to buy long-term care insurance. But at 46, you don't need it yet.
