Dave Says

Dave Ramsey
October 16, 2017 - 3:46 pm
Dear Dave, What’s the difference between a credit union and a bank? Jake Dear Jake, A bank is owned by stockholders. When the bank makes a profit – and they should make a profit – the stockholders, who are owners of the company, get that profit. It can be dispersed in the form of dividends, or the...
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Dave Ramsey
October 10, 2017 - 10:53 am
Dear Dave, What is your opinion of buying a vacation home, then renting it out when you’re not there? J.P. Dear J.P., I see nothing wrong with it, as long as you’re buying with cash and you’re also debt-free . A vacation home is a wonderful “extra” as you start building wealth. Remember though, it’...
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Dave Ramsey
October 02, 2017 - 2:18 pm
Dear Dave, What is your opinion on leasing cell phones? Monica Dear Monica, In most cases, leasing something is just another way of financing. I wouldn’t lease anything, apart from a building or office space for a business in the short term. There are almost always hidden conditions and a few “...
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Dave Ramsey
September 26, 2017 - 3:09 pm
Dear Dave, Why do you recommend paying off debts from smallest to largest when doing the debt snowball? Michael Dear Michael, Lots of people think paying off the debt with highest interest rate first is the best approach. This seems to make sense mathematically, but I realized a long time ago if...
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Dave Ramsey
September 26, 2017 - 2:59 pm
Dear Dave, I have a savings account for my two-year old that has $5,000 in it, and about half of that is in gold. I’m going to save for his college separately, and give this to him to help start his life after school. Is there a better place to put this other than a traditional savings account?...
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