Question: Mike asks if he can spend his baby emergency fund on Christmas if he knows he can replace it in January.

Dave Ramsey's advice: Absolutely not. Don't have your family down to nothing. That would be financial suicide. If it's the only money you have and you use a little bit for Christmas, that's fine. But using all of it opens the door to disaster. If you need some extra money for Christmas, work an extra job.

• Hear Dave talk about having nothing