NEW CASTLE —
Dear Dave: What do you think about the practice of credit card churning? — Ethan
Dear Ethan: I think it’s a pretty dumb idea. The concept is to run up the balance on one card as high as you can, then flip the balance from card to card in order to get perks like airline miles. But if you want to go through all the trouble and hassle over such a small amount of money, be my guest.
I’ve met thousands of millionaires, and none of them have ever credited their success to credit card churning. Think about it: With all the time you’d spend, and risk you’re taking on a scheme like that, you could actually have made some money.
If you want success, Ethan, you have to mimic what successful people do. This means living on a detailed plan, saving, and investing. — Dave
Dear Dave: Both of our daughters will start college next year. We have $25,000 set aside for each in their custodial accounts, but my financial adviser says we should take the money out because it will keep them from being awarded as much in scholarships and other assistance. What do you think? — John
Dear John: I disagree. It’s like saying you should quit your job to get food stamps. You guys obviously aren’t poor, and any financial adviser who says you need to fake being poor in order to get help is not a person whose advice I want to follow.
When your kids apply for scholarships and assistance, your entire financial picture will be assessed. More funding goes to kids from poor families than rich ones, but that’s only fair. Chances are, you fall somewhere in the upper-middle portion of the scale.
But no, I wouldn’t move the money or try to hide it. It’s just not honest to try and act like you’re poor when you’re not. I don’t believe in that kind of stuff. — Dave
(For more financial advice, please visit daveramsey.com.)
NEW CASTLE —
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Culinary Conversation: Go on; give someone the raspberries
It was my first bowl of red raspberries for the season. And I was jubilant. Plump, juicy and delicious to the last bite, those little nuggets of sweetness satisfied. After this stretched-out, dismal winter, I was ready for a little taste of spring.
Culinary Conversation: Greens, cakes among reader’s recipes
Weeks always start out better when something pleasant arrives in the mail. No, I didn’t win the Publisher’s Clearinghouse Sweepstakes.
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