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The Clarion - Dave Says

Dave Says - 04/24/13

Making it through medical leave


Dear Dave,

I’ve been on medical leave from my job due to an injury. My doctor recently advised extending the leave another six months, but during this time I wouldn’t be paid. My husband makes $75,000 a year, and we owe $40,000 on our cars. This includes a $30,000 note on one of them. Should we take money out of our 401(k) to make it through the additional time off?

Crystal

 

Dave Says - 04/17/13

Don’t ask for a Murphy visit

Dear Dave,

Is there ever a time you should dip into emergency fund savings in order to pay off your home early?

Eric

 

Dave Says - 04/10/13

You’re not stunting her

Dear Dave,

My younger sister moved to Atlanta, and she came to live with my husband and me a few months ago. She’s 19, has a job, and is attending a local college. But even though she’s working, she hasn’t said anything about helping out with utilities or paying rent. We don’t need the money, but do you think it’s time for us to push her out of the nest so she can start living as an adult?

Molly

 

Dave Says - 03/20/13

Can I motivate my parents?


Dear Dave,

My parents are close to retirement and very heavily leveraged. Do you have any advice on how I can help motivate them to succeed financially?

Jack

 

Dave Says - 03/06/13

In-laws and out of debt

 

Dear Dave,

I’m 27 and married, and we have two kids. I make $90,000 a year, but we have $80,000 in consumer debt—$48,000 of which is in car loans. The rest is credit card debt. My wife’s parents have offered to let us move in with them so we can get out of debt faster. Do you think this is a good idea?

Kevin

 

Dave Says - 02/20/13

 

 Credit card churning

 

Dear Dave,

What do you think about the practice of credit card churning?

Ethan

   

Dave Says - 02/13/13

Basing term life insurance

 

Dear Dave,

I’m looking at buying term life insurance. Currently, I’m in medical school doing my last year of residency and making $35,000 a year. Should I base the amount of insurance coverage on what I’m making now or what I’ll make when I’ve finished medical school?

Amanda

   

Dave Says - 02/06/13

Setting up the kid’s car insurance

 

Dear Dave,

I’m divorced and have a teenager who will be driving soon. What would be the best way to set up insurance for the child?

Mike

   

Dave Says - 01/30/13

 

 

 

 

The role of government assistance

 Dear Dave,

I’m a single mom with three young children. I quit my nursing job a few years ago to be a stay-at-home mom, and one year later my husband filed for divorce. The state isn’t keeping him accountable for child support, but now I qualify for food stamps. Do you feel it’s morally wrong to be on government assistance?

Rebecca

   

Dave Says - 01/23/13

 

 

 

 

Be tightfisted until the crisis is over

Dear Dave,

Recently, my husband had to quit his job due to an old back injury. We have $25,000 in debt, but I’ll be receiving a $38,000 inheritance in a couple of weeks. Should we use the money to pay off our debt, or hold on to it in case he needs surgery?

Kristen

   

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