New Castle News

All About You ...

October 12, 2012

Dave Ramsey: Living without eating out

NEW CASTLE — Dear Dave: When it comes to taking control of your money and living on a budget, what’s the biggest thing a family can live without? — Will

Dear Will: There are always the shiny things people can do without. Sometimes people sell a fancy car or boat and get rid of a $600-a-month payment right off the bat. But on a regular, day-to-day basis, I think maybe the biggest and best thing you can amputate from your life is eating out. I love a good restaurant, and I’ve got nothing against the industry. The problem, though, is that people are struggling to pay their bills or set aside something for retirement because they’re eating out all the time. Most folks simply don’t realize how much money they throw away by heading to the drive-through for lunch or going out to dinner “once in a while.” I want people to enjoy life, and a great part of that can be going out and having a meal with your family and friends. Just don’t do it when you’re broke. If you’re having financial issues, the only time you should see the inside of a restaurant is if you’re working there! — Dave

Dear Dave: We’re expecting our second child next spring, and even though we have an extra bedroom, our place is pretty small for a growing family. We also have $40,000 in student loan debt hanging over our heads, but we can save up almost $50,000 by the time the baby’s here. Should we use this money to buy a bigger home or pay off debt? — Chris

Dear Chris: If it were me, I’d make sure to knock out the student loan before buying a house. Trust me, if you buy a home with a ton of debt hanging over your heads, Murphy will move into your spare bedroom and make your lives miserable.  If it can happen, it will happen. And that’s especially true when it comes to buying a house when you don’t have much cash on hand. You’re telling me you can save nearly $50,000 by next year. That means you guys are making pretty good money.  So there’s no reason you can’t turn around and do the same thing next year, right? I mean, this is only a one- or two-year program we’re talking about. In another year’s time, you could save up for a huge down payment with some extra savings on the side. If you waited and saved for two years, there’s a possibility you could pay cash for a bigger place outright. Imagine how cool it would be to have your own home with no mortgage payments! Just clean up the extra bedroom and fix it up as a nice nursery. Some new carpet or hardwood is always nice.  Throw in a fresh coat of paint, and you’re in business. Then, a year or two after the new baby arrives, you’ll be ready to move from a financial and a family perspective. A baby can live just fine in a small bedroom.  There’s nothing in the world wrong with that! — Dave

(For more financial advice, visit daveramsey.com.)

1
Text Only | Photo Reprints
All About You ...
  • Hudson.jpg Culinary Conversation: Think globally, cook locally

    Another set of bookshelves might be necessary at my house very soon. It’s been a bountiful week. Edie Majesky of New Castle, who I have known most of my life, is aware of how much I love collecting old cookbooks.

    April 19, 2014 1 Photo

  • Ramsey.jpg Dave Says: Problems with no credit score?

    “Dave Says” is a weekly column featuring financial advice from nationally syndicated radio host Dave Ramsey. His column is filled with timely, relevant questions and answers taken from actual letters and calls on Ramsey’s radio progam, “The Dave Ramsey Show.”
     

    April 18, 2014 1 Photo

  • Brothers.jpg Lori Brothers: Play with names — not with your food

    Do you remember being told, “don’t play with your food” when you were a child?  Or maybe you’ve said this to your own children or grandchildren. I’ve heard stories about kids slipping food under the table to the dog or stuffing Brussels sprouts into their pockets to get out of the pain of eating them.

    April 17, 2014 1 Photo

  • stright.jpg Sarah Stright-Hartley: A T-shirt dress can be a three for all

    I love finding pieces that can be worn for just about every portion of my life.  From daytime, to work, and then on a date with my husband, I like pieces that can go the distance.

    April 16, 2014 2 Photos

  • ivy_bday.jpg Kali Davies-Anderson: Happy birthday, Miss Ivy!

    This week I would like to take time out of my usual ramblings to wish my second born daughter, Ivy, a very, very happy first birthday!

    April 15, 2014 2 Photos

  • Olszak.jpg Heartbleed raises the stakes on Internet security

    My column last week dealt with Internet and related scams, along with steps people can take to protect themselves. Today’s column could be termed Part 2 of that topic, albeit from a different angle.

    April 14, 2014 1 Photo

  • Hudson.jpg Lugene Hudson: Celebrate Easter like Helen Martin

    What’s cookin? That’s one of our favorite questions at Culinary Conversation. We love when readers share some of their favorites. This week, Helen Martin of New Castle stepped up to the plate to answer that question regarding Easter dinners.

    April 12, 2014 1 Photo

  • Ramsey.jpg Dave Ramsey: You can’t borrow way out of debt

    “Dave Says” is a weekly column featuring financial advice from nationally syndicated radio host Dave Ramsey. His column is filled with timely, relevant questions and answers taken from actual letters and calls on Ramsey’s radio progam, “The Dave Ramsey Show.”
     

    April 11, 2014 1 Photo

  • Brothers.jpg Lori Brothers: Wellness a growing trend among those over 50

    The power of choice that the explosion of Internet information has generated is moving us as a culture in a direction to examine who we are and what we really value.

    April 10, 2014 1 Photo

  • stright.jpg Sarah Stright-Hartley: Some perfect fits for heading back to work

    I'm heading back to work soon and I've really been thinking about my work wardrobe — especially because I'm hoping most of it still fits my post-baby body.

    April 9, 2014 2 Photos

House Ads
Poll

What is your favorite Easter treat?

Jelly beans
Chocolate ... bunnies, crosses, anything that’s chocolate!
Marshmallow peeps
Decorated eggs
Other
     View Results