Illinois man’s wife wants to keep $75K in a safe at home for her own comfort — but Ramsey Show hosts say her ‘scarcity mindset’ only creates more risk
While some people like to keep cash on hand for emergencies, how much is too much? Bill from Illinois called into The Ramsey Show out of concern for his wife, 64, who wants to keep $75,000 in cash at home in a safe, which would make her feel “comfortable.” (1) Must Read Real Estate: Thanks […]
ChatGPT says it can save me $12K on my taxes — but is trusting AI with your returns a safe idea?
ChatGPT and other generative AI chatbots are being used for almost everything these days, from writing emails to planning a vacation or even to help with filing taxes. That doesn’t mean it’s always a good idea. Imagine this hypothetical scenario: Lorin, a 42-year-old market researcher who has a side hustle selling products on eBay, hates […]
I have a job and run a small business. Using ChatGPT to do my taxes would save me $6K on tax prep fees. But is trusting AI a safe idea?
ChatGPT and other generative AI chatbots are being used for almost everything these days, from writing emails to planning a vacation to doing your taxes. That doesn’t mean it’s always a good idea. Must Read Real Estate: Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, […]
‘You’re her payday lender’: Woman’s mom out-earns her but still borrows cash. The Ramsey Show explains where the real ‘idiotic behavior’ comes from
Sometimes, we make silly decisions when it comes to family and money. That’s what’s been happening with Shey, whose mom occasionally asks to borrow money, even though she earns more than her daughter and her husband, Arnold, combined. Shey turned to The Ramsey Show for advice on how to help her mom learn to budget. […]
You’re not imagining things — your credit card rewards are shrinking. Here’s what’s behind the alarming slide
Americans love their credit cards — and the rewards that come with them. From cash back to airline miles, some people go all in, juggling multiple cards and tracking points just to score perks they might never splurge on otherwise, such as flying business class. In 2024, 81% of U.S. adults had a credit card, […]
Newlywed Virginia ‘breadwinner’ fears merging finances with her ‘secretive’ husband. Dave Ramsey says she has only 1 way forward
After getting married or moving in together, many couples pool at least a portion of their finances in a joint account. But Sarah, a newlywed from Virginia — and the “breadwinner” — is worried about what will happen if she combines finances with her financially unfaithful husband. Must Read Real Estate: Thanks to Jeff Bezos, […]
Bill Bengen has updated his 4% retirement rule — here’s what to consider before adjusting your spending
It seems the 4% rule is now the 4.7% rule. In the early 90s, financial planner William Bengen was looking for a simple solution to help clients understand how much they could spend each year in retirement before running out of money. He came up with the 4% rule and published his findings in the […]
This stressed out couple makes $167K but has $339K in debt. Ramit Sethi says fixing these 2 ‘toxic’ money habits could pull them out of ‘dire danger’
Christine, 47, and Thad, 57, make a combined annual income of $167,625. But despite their solid earnings, they’re buried in debt — to the tune of $339,000. Each carries a six-figure loan, “which creates a toxic mix of frustration and complacency and even hopelessness,” said Ramit Sethi on an episode of I Will Teach You […]
Think slowing your financial ‘burn rate’ can stand in for an emergency fund? Here’s why it might not keep you afloat for long
If you’re furloughed or lose your job, do you know how much money you’d need to bridge the gap until you’re getting a paycheque again? That gap is called your ‘burn rate’ — a term that was originally coined to describe how startup companies track cash before they become profitable. But it can also apply […]
Las Vegas workers who might benefit from Trump’s ‘no tax on tips’ policy are missing out as fewer non-Americans come to town — thanks in part to Trump
Tourism in Las Vegas is down since last year — and tip-dependent workers, like bartenders and dealers who rely heavily on tourist traffic, are especially vulnerable, even with Trump’s ‘no tax on tips’ policy. The Wall Street Journal reports that tip incomes in Las Vegas are shrinking across the board. While tip tax exemptions might […]