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Dave Says 10-29-14

School’s on the horizon

Dear Dave,
My husband will be leaving his full-time job in a year so that he can go back to school full-time and finish his degree. We’ve both agreed this is what we want to do, but it means that we’ll go from a yearly income of $90,000 to $45,000. We’ll have tuition assistance from my job and his veteran’s stipend to help pay for things, plus we’re debt-free except for our house. But in this scenario, once we complete Baby Step 3 should we move directly to Baby Step 4 or continue saving?


Dave Says 10-22-14

Buy the dream car!

Dear Dave,
I’m in college, but I’m not the typical college student. I’ve gone back to law school after working for several years. My wife and I have followed your plan, and we’re completely debt-free. I’m cash flowing school, and we’ve been fortunate enough to build up about $2 million in investments. The other day I saw what I consider to be a collectible car I’d love to have — a 1988 Pontiac Fiero that’s in excellent condition for $10,000.
Should we wait until I finish school, or is it okay to buy it now?


Dave Says 10-15-14

Rehabbing to sell

Dear Dave,
My husband and I recently inherited my parents’ home. It’s in a small, rural town with little industry, and we’ve been told that the place would be worth $85,000 if it’s cleaned up, compared to $75,000 as-is. Should we spend about $10,000 to really clean it up, replace a few things and make it presentable to sell it faster?


Dave Says 10-08-14

We need help with our budget!

Dear Dave,
My husband and I have been living on a budget for a few months, and for some reason there seems to be leaks in our budget. It’s just a few dollars here and there, but added together it makes a huge dent. Can you give us some advice?


Dave Says 10-01-14

You can’t afford the master’s degree!

Dear Dave,
My husband makes about $35,000 a year before taxes, and we have one child. We’ve also got a mortgage and $60,000 in student loan debt. About a year ago, my husband started work on a master’s degree, because he thinks he wants to teach when he retires. He quit school after the baby was born, because he didn’t think we could afford it any longer. I think he should finish the degree. Otherwise, he’s just throwing away the $10,000 we’ve already got invested in the program. What do you think?


Dave Says 09-03-14

Offered a timeshare

Dear Dave,
Some friends recently offered me a timeshare. It’s an older place on the beach, and they’ve had it for about 20 years. I’d have to pay a transfer fee of $100, plus a yearly association fee of $500. I know you’re not a big fan of timeshares, but does this deal sound okay?


Dave Says 09-03-14

Repair now or buy late

Dear Dave,
I’m driving a 10-year-old car with 195,000 miles on it. The car needs $1,500 in repairs, and it’s worth $5,000. I have $40,000 in cash saved, $40,000 in investments and I make $80,000 a year. I also have $15,000 in student loan debt, but the only other thing I owe on is my house. Should I pay to repair the car or buy something else for $15,000?


Dave Says 08-27-14

Will the government take it?
Dear Dave,
I have a 5-year-old daughter, and I want to start a 529 for her. However, I’m concerned that the government might seize the 529 assets in order to pay off debt and give people treasury bonds instead. Do you think this might happen?


Dave Says 8-20-14

Dave Says


Freezing your credit report

Dear Dave,
Do you recommend a credit freeze in order to protect against identity theft?


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