New Castle News

Money: Dave Ramsey

September 21, 2012

Dave Ramsey: Handling the severance package

(Continued)

NEW CASTLE — Dear Vivian: God bless you and your husband. I know this is a really rough time for you both. I hope you guys are sticking by each other and loving on each other a lot. That may not make these problems go away, but it will make you each stronger and bond you together in incredible ways. If I’m in your shoes, the last thing I’m going to worry about is credit card debt. Your concern right now should be your quality of life and taking advantage of all the medical options that are available to you. That’s the primary goal. You and your husband need to use your financial resources to prioritize, but at the moment you come first. For someone in your situation, that’s not being selfish. The hard truth is this. We’re all going to die some day. Anything you own, like the 401(k), has to stand good for what you owe when you pass away. In other words, the credit card debt would have to be paid before your husband or others received anything from your estate. I appreciate your diligence and honor in wanting to make sure your debts are handled. But in this situation, so what if a credit card company has to wait a while to get paid? It will happen when it happens. Right now, you are the number-one priority. — Dave

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Money: Dave Ramsey
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