Sunday, May 4, 2014
May 2 - Online Discussion Question 2
Mia and Allen, married with two teenage sons, both work. They have read Dave’s books, finished a beginner emergency fund, established a budget, and are working on their debt snowball. Both claim no dependents and take extra money out of their checks. Then in April, when they see how much they’ll get back, they celebrate! It’s like “found” money! They use that windfall for a lavish family vacation every summer. You told them that was all wrong. They asked why. Explain yourself.
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It's wrong because they need to be working on their debt snowball instead of a family vacation.
ReplyDeleteAlthough the vacation was fun in all but they need to focus on the other financial things. One being debt snowball and all the other steps to financial peace.
ReplyDeleteAdam
Its wrong. They should work on the debt snowball before a family vacation
ReplyDeletethey need to claim dependents, otherwise they are lying to the government. they should also be using the tax return as an extra payment on their debt snowball
ReplyDeletetravis
They need to finish paying off the debt snowball before they go on any vacation.
ReplyDeleteBecause they should be spending that extra money on building a fully funded emergency fund and completing their debt snowball before they spend it all on a lavish vacation. They could go on a vacation, but they shouldn't just spend all of that money that they "found" on a fancy vacation.
ReplyDeleteThey need to continue working on appropriately managing their finances instead of spending all of their money on a vacation.
ReplyDeleteAutumn
They should use the money toward a larger emergency fund and paying off their debts before they go on a big vacation
ReplyDeleteeyezik
they need to pay off their debt first
ReplyDeleteThey need to get rid of debt first… THEN go party. :)
ReplyDeleteThey should pay off the debt first, and claim their dependents.
ReplyDeleteThey claim no dependents, but they have two boys. That is dishonest. They should claim their boys and use their "extra" money to complete their emergency fund and keep on finishing the baby steps. Having a fun vacation is not wrong at all, but they shouldn't use all their money on it and use none of it for getting ahead in their finances.
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