| Dave's Thoughts on Gas Prices
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Gasoline has gone up 26% since this time last year. SHOCKER!
Since most of us are used to daily commutes, running the
kids here and there for their various activities, and visiting
friends and family, this price increase is affecting
us. The Consumer Price Index figures say this is the
number one thing that's gone up in our household budgets
this year — and it's only May!
"But there's nothing I can do," some say. I say,
"Oh, yes there is!"
It's time to revisit the budget.
When I tell people this, some tell me they've crunched
their budgets as much as they can. Then I ask, "How much
is your car payment? ... How much is your monthly cable
or satellite bill? ... Is the Starbucks drive-thru a regular
stop on your morning commute?"
 I
hate to break it to you, but new cars, cable, and Starbucks
are luxuries, NOT necessities! You can easily survive with
a used (and paid-for!) car, no cable reality shows, and
coffee made at home. Just think of all that money
you could use to pay off debt and put toward your gasoline
money for the month if you did just those 3 things!
Earlier this month, an algebra teacher in Michigan sent
me a great email that I read on the radio show. She wrote:
Dave, I often give my math students this calculation
to figure out. A typical latte costs $3.59 for 16 oz.
That's 22 cents per ounce or $28.72 a gallon!
Ask your listeners if they've drank a gallon of latte
lately! Read
the blog
HOLY COW! If that doesn't put things into perspective,
I don't know what will!
First Things First
You must remember there IS a difference between needs and
wants in life. The first things at the top of your budget
should be your needs: shelter, food, transportation, clothing,
and utilities. If you currently go to the movie theatre every
weekend or have a Hawaiian vacation at the top of your list
when you struggle to pay the electric bill, your priorities
are out of wack. Don't sacrifice your needs to finance
your wants. If you do, it will catch up with you and you'll
regret it.
Plan Ahead
You can also strategically plan ahead when running errands
and commuting to work. If you go to the grocery store twice a
week, reorganize your list so you only have to go once a week.
If you have a lot of errands to run, plan your route
ahead of time so you're not retracing your steps around town.
You could also organize a carpool with some of your
coworkers who live near you.
June will be here before you know it, so go have a Budget
Committee Meeting right now to see where you can free
up some more money — because every little bit adds
up when gas is $4 a gallon!
Related:
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Keeping Your Kids From Becoming Summer Bums
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You can hear them getting excited. Just a few days left before
they jump and shout, free of pencils, books and teachers'
dirty looks. It's probably the favorite time of all kids everywhere
— summer vacation! But it's a time where you have to
be very careful.
Kids will be kids, and during summer vacation that usually
means lying around all day, eating junk food and playing
video games. That may be fun to do, but doing it the
entire summer and never working is a bad idea. Young
people have a lot of free time over the next couple of months,
so have them work and earn some money.
"But Dave!"
You might be thinking, "Kids should get the chance to
be kids and have fun during summer vacation. They won't get
the chance to do that as adults, so they should enjoy it while
they can." Come on! We're not talking boot camp here!
There shouldn't be any 10-hour days. It's good for children
and young adults to enjoy this time. We're talking about using
this time to work for money, or work doing something they
love so they can learn about it.
If they don't work or keep learning, they lose their edge.
If summer for them consists of a steady dose of Doritos
and television, then bad things happen. They miss out
on great opportunities to earn money. They could get a head
start on learning about something that could be their calling
in life.
Giving the Best to Your Kids
The vast majority (70%) of Americans either live paycheck
to paycheck, hate their job, or both. If your child learns
how to handle money correctly now, their lives and relationships
will be much less stressed. If they learn to work hard
and pursue their dreams, they will find true contentment
at an early age. If they do both, they will be unbelievably
prosperous. Don't you want that for your children?
You truly love your kids, so give the best to them. That
doesn't mean the best material possessions. That means teaching
them HOW to do the best for themselves. If they don't work,
they lose motivation. If you get used to lying around all
day, it makes them not sharp. And don't forget—if
they don't work, they'll complain to you about being
bored all the time. Work is a great way to keep from being
bored—and broke.
Interact
with other parents in the My Total Money Makeover forums
who are sending their kids off to work this summer!
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No Longer Stressed Out by Debt!
By Scott in GA
In 2006 at the age of 24, I dropped out of college due
to many reasons — one of the biggest being the stress
caused by $14,000 in credit
card debt. I wasn't able to make all the payments and
my APRs were lapsing to 28%. I continued working part time
at the 3 jobs but wasn't making enough to pay rent and debt.
I eventually found
a job where I was able to work manual labor and get
plenty of hours (60/week). I worked nonstop and soon found
myself moving up the ladder. I began to work 80 hrs/week
as a superintendent and started traveling for work, which
allowed me to let the lease on my house lapse and move my
belongings into storage. (I now stay at my parents when
I am in town.) I put all my efforts into paying off my debts,
including $27,000 in school loans.
Last month I sent in the last payment. I must say it is
a GREAT feeling! Last week I met with a financial
advisor to start a 401(k) and Roth IRA. Now I am in
the market to buy a house when everyone else is struggling
to get by. I feel like I have won some sort of contest
in life or at least am on top of things. All the sacrifices
I made along the way—driving $250 cars (no, that's
not a typo), eating tons of cheap (and nasty) food, living
at home (ugh), and many other ways—will hopefully
allow me to live like no one else for the rest of my
life!
Thanks, Dave! I absolutely used your debt
snowball from the start, and I am utilizing your investment
strategies now. I have passed your CDs out to at least 6
of my friends, and I hope it will change their lives, too.
Start now! What
Baby Step are you on?
Read other We did It! stories
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Over $25,000 in Student Loan Interest!
By Shelia in TX
 When
my husband and I met, he was in college and had several
student loans. He couldn't finish college until he had more
flight time (he was going to be a 727 flight engineer),
so he dropped out of college. We kept putting the loans
in forebearance yet the interest kept accruing.
Now, almost 15 years later and after going through Financial
Peace University, we've started paying off the loans
even though he's in school again. The loans that were
originally around $24,000 are now almost $50,000! We're
trying to put $800 a month into them, but even at that it
will take over 5 years to pay them off!
To add insult to injury, he probably wouldn't have student
loans had he signed up for the GI Bill when he enlisted
in the Army at 18, but he thought he'd never go to college!
Talk about a HUGE Stupid Tax!
Read
other Stupid Tax stories
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How to Get Your House Sold for Top Dollar
|
 It's
true - the housing market isn't what it used to be. Property
values across the country have fallen. So how do you get
your house sold for top dollar? You MUST use an experienced
real estate agent. Research shows that the best realtors
are worth more than they cost. In fact, a report by the
National Association of Realtors shows that the average
home in America with a realtor sold for $230k while the
average home without a realtor sold for $198K.
Avoid Bad Agents
You need to use an agent who has been in the business for
years and has a proven record of selling houses in a down
market.
Trust me, now is NOT the time to trust your largest asset
to a rookie realtor that has never worked through a down
housing market. Also, stay away from agents who cut their
commission to get your business. These agents rarely
cut the amount of money they put in their pockets. Often
they're cutting the services that are essential to
marketing and selling your home for top dollar.
What Makes a Great Agent?
Finding an expert agent in today's market isn't hard if
you know what to look for. Interview at least 3 realtors
and pick the one who:
- Acts very professional
- Makes you feel comfortable
- Uses the Multiple Listing Service - a system that realtors
use to help advertise your house to thousands of people.
- Has at least 5 years of full-time experience
- Has sold 50, 80, 100 or more homes in a single year
The Easiest Way to Find a Great Agent
If you already know of someone who meets the conditions above,
use that agent. However, if you don't already know one, consider
using one of our Endorsed Local Providers (ELP).
Our ELPs are some of the BEST real estate agents in your
city. They know how to sell houses for top dollar in today's
down market. In fact, our ELPs have sold 61% more houses
this year compared to last year - because they're true
experts and know how to sell!
It's time to get your house sold! Click
here to contact your real estate ELP now
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The DOs and DON'Ts of House Hunting |
 Home
ownership. It's the American dream. But that beautiful 3-bedroom
ranch home with the white picket fence can quickly become
a nightmare when if you're unprepared during the home-buying
process.
Sure, real estate can be confusing, with all the different
agents and mortgages to choose from, appraisals, inspections,
insurance, surveys, etc. But by following these basic guidelines,
you can keep the American Dream from becoming a nightmare!
- Think of a home as an investment. Every month,
you must make a payment-part of that payment goes to interest,
and the other part goes to the principal. So you are forced
to save money each month.
- It's a great inflation hedge. Generally, real
estate keeps up with, or even passes, the rate of inflation.
And when you sell that home 10 years from now, you'll
be glad it did.
- It grows virtually tax free. If you stay in your
home for at least 2 years, you could gain up to $250,000
as a single, or $500,000 as a married couple, and pay
zero tax when you sell the house! That's a pretty sweet
deal.
What NOT to Do
Now, if you actually want a bad deal, then don't get title
insurance. Purchasing title insurance will protect you
from an unclean or disputed title. For example, just imagine
that you close on a nice house, and then the previous owner's
crazy Uncle Eddie appears out of nowhere and argues the home
was left to him in a will. If you have title insurance, the
insurance company will pay Eddie to walk away, and you'll
then have a clean title.
And, whatever you do, NEVER buy a trailer, mobile
home or timeshare.
The value of these properties drops like a rock. You will
never get back what you put into them.
What TO Do
To get the most out of your home-buying process, make special
note to do the following:
- Get a land survey, especially if you are purchasing
more than the standard subdivision lot.
- Hire a certified home inspector. Be sure to have
the home mechanically and structurally inspected.
- Order an appraisal. If in doubt, do this. These
are simply "opinions of value," but they are still professional
opinions.
It's okay if the house is a little dirty on the inside-you
can straighten that up. You can get a deal by overlooking
some clutter, like bad landscaping, outdated carpet,
and the velvet Elvis in the living room. Though this stuff
can easily be replaced, a lot of people can't overlook cosmetic
issues. However, you don't want a house with a bad floor
plan. Otherwise, you may be staying there awhile because
it's tough to sell a house with "ugly bones."
One of your top concerns when buying a house is location.
Don't overlook this important issue. Houses in great locations
will generally sell quickly. Combine that with a beautiful
view or close proximity to water, and you've found a real
estate agent's dream.
If your agent has access to the MLS (Multiple Listing
Service)—and every good one will—then he
or she will be able to give you information about the best
areas in town to purchase.
Learn more about buying your first home in Financial
Peace University.
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Budgeting Tips for Single Moms |
 Career
woman. The kids' taxi driver. Master of the budget. Grocery
shopper, chef, and cleaner-upper. Single moms carry these
titles and more day in and day out. Talk about busy schedules
filled with meaningful responsibilities!
Over the years, we've had a countless number of single
moms call and write in with questions and success stories.
In honor of the recent Mother's Day, single moms, this
one's for you! Check out these tips for making the most
of your monthly budget and cutting some stress out of your
life! (Even if you're not single or not a mom, you
can still adapt these tips to your family situation —
that's the fun of budgeting!)
- Check weekly ads before going shopping.
This can be for food, clothes, vehicle maintenance or
anything in between! Checking the ads can help you to
save time and money.
- Use coupons.
Using coupons is a great way to save money! Using a coupon
when the item is on sale gives you an even bigger discount!
You can also print free grocery coupons online. Many stores,
but not all, now except coupons printed from online.
- Take advantage of price matching policies.
Some stores will match the price of competitor ads and
coupons. Find out which stores do this by looking at sales
ads or asking the manager at the store.
- Make chores fun for the whole family.
Financial
Peace Jr. is an excellent way for your children
to get involved and excited about their chores and the
rewards hard work brings! Turn on some music and start
spring cleaning room by room with them to make it fun
for everyone!
- Attend Financial
Peace University.
This 13-week course is an excellent place for you to learn
even more about eliminating debt and building wealth.
You will also be in a place of safety to share your money
victories with others on the journey to Financial Peace.
- Spend time in prayer with your children.
Money problems often cause stress. Many times your children
know when you are stressed and they feel the effects too.
Take the time to pray and communicate with them in the
mist of your busy schedule. This will bring unity, peace
and comfort for both you and your children.
Related Calls from The Dave Ramsey Show:
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Dave's eBay Charity Auction |
Dave Used It ... You Can Buy It ... We'll Share It!
 With
a new TV show and new Financial Peace University (FPU)
materials, there are some things lying around that Dave's
not using every day—like his old desk and FPU stage
props. Of course throwing the stuff in the garbage was totally
out of the question, so why not auction the stuff to raise
money for a fabulous cause? Sounds good to us!
ALL of the proceeds from the sell of these items will go
to Share
It!—Dave's nonprofit organization that is committed
to empowering individuals, families and students to become
financially self-sufficient by combining accountability
with education.
These auctions are set up on eBay, so check
them out and place your bid!
Dave's Desk
Dave used his custom-built desk while broadcasting
The Dave Ramsey Show on the radio and Fox Business
Network over the past year. With increased exposure and
success of the show, a new set was required to meet HDTV
standards. Dave will personally autograph the desk,
and the winning bidder will receive a certificate of
authenticity. Place
your bid now!
FPU Stage Props
In the summer of 2007, Dave taught and videoed an updated
version of his widely successful Financial Peace University
class to a live audience in Nashville, TN—and now
there are some goodies left over for the taking! Check
out everything that is available
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Dave Ramsey Updates |
|
Where's Dave? |
Magazines, websites, LIVE events, TV - Dave's everywhere!
Get
all the up-to-date info
The Dave Ramsey Show Military
Special
Last month Dave was privileged to visit Fort Carson in Colorado,
where he addressed 1,700 servicemembers. Much of that event
will be featured in "Military Families," a special
edition of The Dave Ramsey Show on The Fox Business
Network airing Monday, May 26 (Memorial Day) at 10am
and 7pm CDT. Tune in to see how financial readiness
is impacting our military's mission readiness! How you can help
Maxed Out
on Showtime
Dave appears in the documentary Maxed Out, airing
on Showtime throughout the month of May. See
a complete listing of air times
Upcoming LIVE Events
Dave's Total Money Makeover LIVE Event stops in the
coming months:
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Check out our newest
stations!
There are over 350 affiliates nationwide
| City & State |
Radio Station |
Air Times |
| Pottsville, PA |
WPPA 1360 AM |
3-6pm M-F |
| Frankfort, KY |
WKYW 1490 AM |
3-6pm M-F |
| Bedford, PA |
WBFD 1310 AM |
4-5am MF, 3-5am Sa, 2-3pm &
6-8pm Su |
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Quotes About - Car Payments |
Car sickness is the feeling you get when the monthly car
payment is due.
To get back on your feet, miss two car payments.
Car designers are just going to have to come up with an
automobile that outlasts the payments.
— Erma Bombeck
The best car safety device is a rear-view mirror with a
cop it in. — Dudley Moore
One of the quickest ways to get rid of the lease payment
is to get rid of your car. — David Holland
We're a what's-my-monthly-payment nation. The idea is to
have my monthly payments as high as I can take. If you cut
interest rates, I'll get a bigger car.
— Paul Kasriel
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