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The Clarion - Dave Says

Dave Says - 1/22/14

A squirrel fund

Dear Dave,
My husband works construction, so we barely scrape by during the winter months. Should we build an emergency fund for the slow times?
Cathy

 

Dave Says - 1/22/14


 

Dave Says - 1/15/14

Using their
emergency fund

Dear Dave,
My wife and I are working the Baby Steps, and we have our budget in place. Sometimes the budget gets busted because of home improvements and various other things. I think we should take money from our emergency fund when this happens, but she says it should come out of our restaurant and fun money. What do you think?
Joshua

 

Dave Says - 1/8/14

Not quite ready
for a house

Dear Dave,
My wife and I just bought a business with cash. We had been living with my brother and sister-in-law while we saved up, and things are starting to get a bit cramped. My brother has offered to co-sign on a house for us, but rent is pretty cheap in this area. What do you think we should do?
Peter

 

Dave Says - 12/18/13

Intense focus

Dear Dave,
What would you recommend for 401(k) contributions while getting out of debt?
Chaz

 

Dave Says - 12/11/13

The baby timeline

Dear Dave,
I’m in the military, and my wife and I have $13,000 in the bank along with $35,000 in a Roth IRA. We also have no debt, and we put $3,500 into our savings account each month. Our new baby is due to arrive in January, so do you think this would be a good time to buy our first home?
Tom

   

Dave Says - 11/27/13

Giving their son some problems

Dear Dave,
We’ve been supporting our son while he’s in college. He just finished his sophomore year, but he told us the other day he has dropped out of school and isn’t going back. He’s been playing in a band on weekends, and he has this vague idea of becoming a musician. We don’t think this is a good idea, but we still want to be supportive … just not too supportive. We want him to be financially independent, as well. How should we handle this?
Karen

   

Dave Says - 11/20/13

Count employer
contribution?

Dear Dave,
Do employer contributions count toward the 15 percent you recommend putting into retirement?
Brian

   

Dave Says - 10/30/13

Section 8 housing
dilemma

Dear Dave,
I have some rental properties, and the government would like to turn a couple into low-income housing. Is this a good idea, or should I find my own tenant?
Marvin

   

Dave Says - 10/23/13

Life insurance vs. 529

Dear Dave,
An insurance salesman told me it’s better to use a life insurance policy for college savings rather than a 529 plan because the child can use it for anything instead of just college. Is that true?
Rusty

   

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