Soila in Houston is a single mom who’s behind on her credit card bills. She’s being sued and hasn’t been able to pay her bills. Soila is scared because her husband was deported, and she doesn’t know how to manage her situation. Dave offers his take on her situation.

Tammy in Chicago and her husband own a rental property. They’re 18 months behind on their property taxes. They tried to sell it for two years but couldn’t. They owe $125,000 and tried to sell it for $389,000. Dave tells Tammy she needs to cut the rental property price deeply to drop this property.

Lynn in Kansas City has a 74-year-old grandmother who had a stroke last September. She planned to go back to work but was unable to do so. Her income has dropped significantly and no longer has health insurance. She has three whole life insurance policies with cash values. Should she cash them out or keep them to bury her with when she passes away?

Dave talks about performing with excellence each day in order to win. Dave goes on to say there is no magic pill to achieve success.

Stephanie in Houston is a single mom with three kids under age seven. She receives no child support and was laid off last year. Her childcare is $1,100 a month, rent is $700, and unemployment doesn’t cover her bills. She’s considering bankruptcy. Dave doesn’t think she’s bankrupt but instead needs income.

Brent in Austin is a business owner. He makes about $250,000 a year as an insurance agent while his wife stays home with their kids. He’d like to buy some rental properties but still owes about $300,000 on his home. What’s the best way to work up to this goal?

Dave reads comments from listeners.

Sue in Indianapolis has a 25-year-old son who’s living paycheck to paycheck and beyond his means. He borrowed $500 from an Internet company and now owes another $1,050 to them on top of the $500. What can Sue do to get him to stop this ridiculous behavior?

Butch and his wife found a foreclosed home on an island in Michigan appraised at $98,000. They offered $44,000, which was accepted. However, Fannie Mae sent a letter saying it would be up for a cash-only auction. They’re trying to get a mortgage on it but can’t get the $30,000 they need. Dave tells Butch to start shopping some local banks and credit unions.

Roxanna in Salt Lake City has a husband 10 years older than her, and he has some health issues. He doesn’t believe in health insurance or life insurance because it makes his mortality too close to home. Is there a way she can get life insurance on him without him knowing?

Troy in Nashville has a son who doesn’t live with him, but Troy pays for his cell phone. His son’s mother is using the cell phone even though it’s meant for Troy’s son. Dave thinks it’s time to shut the cell phone down.

Colleen in Colorado has an opportunity to put an addition on her parents’ home for Colleen and her daughter to live in. She plans to live there long term. She’s considering a loan to do this addition. Dave disagrees with borrowing money to build this addition.

Miguel in Orlando is about to finish school with $12,000 in student loan debt. His wife wants to go back to school when he finishes, but it will cost them about $30,000 in student loans. How can they pay for school without the loans?

Patty in Memphis and her husband had a primitive lake house. It flooded two years ago, and they’re trying to decide whether or not to rebuild it. They’re millionaires and would like to spend $100,000. Her husband is afraid to do it because he’s extremely conservative with money. Dave thinks they ought to do it.

Mark on Facebook wants to know how to allocate money to different types of wealth building. Are there recommended percentages within the Baby Steps?

Nancy in Nashville and her husband are newlyweds and bought their first home right away. Nancy’s name wasn’t placed on the mortgage or the deed for the house. Since then, they’ve maintained separate checking accounts. Nancy wants to combine finances, but her husband got upset with her. She feels as though he doesn’t trust her. Dave doesn’t like this at all.

Nicole in Oklahoma City and her husband started a business in September. They borrowed $56,000 for the business’s equipment. He’s making money now, so should they take care of the business debt first? Dave tells Nicole to go ahead and knock this debt out quickly.

Lisa asks what Dave thinks of timeshares. Dave tells Lisa they’re a horrible product.

Dave reads comments from listeners.

Ena in San Antonio wants to know when housing family without charging rent becomes giving a drunk a drink. Dave says it’s when their lives aren’t moving forward because you’re enabling them.

MacKenzie in Dayton and her boyfriend just had twins four months ago. They’re trying to get their finances on track and start saving some money. He has quite a bit of debt in his name but also has some judgments and a foreclosure. Should they proceed with the debt snowball? Dave suggests two debt snowballs, but MacKenzie shouldn’t be paying on his debts.

J.C. in Las Vegas is considering whether or not to take a job. He’s already had two new jobs but doesn’t know if this one would be good for his résumé. His income will move up to $70,000 a year from $46,000. Dave thinks this is a brilliant move.

Amy in Dallas and her husband have a 30-year fixed rate mortgage. They’d like to pay it off early with biweekly payments. However, the mortgage company says they won’t accept biweekly payments but will accept extra principal payments. Is there a way around this?

Erica in Dallas says her parents have a home they want to give her as a gift. What’s the process to put this home in Erica’s name? Dave explains.