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Ask Dave

Skip The Second Job?

Laura is newly married, and they make $116,000 a year. Her husband wants to take on a second job. Laura doesn't think it's worth it. Dave offers some thoughts.

QUESTION: Laura in Denver is newly married, and they make $116,000 a year. Her husband wants to take on a second job bringing in an extra $500 or so each month. Laura doesn't think it's worth it since they're already gazelle intense about getting out of debt. Dave offers some thoughts.

ANSWER: The first thing you need to do is give him a huge hug and smooch because you've got one heck of a man. There are women listening to this show right now going, "Oh, my gosh, I wish I had married him." This is a guy who does what it takes, who's willing to do whatever it takes to get his family in a good situation. What an incredible guy. That's just wonderful—his willingness to do that. You guys have got the ideal situation.

Two months doesn't make or break your life. Neither does working extra. What would I do if I were in your shoes? Whether you're out of debt in nine months or 11 months doesn't really matter. I don't know that I can be your tiebreaker. I think either one is probably okay. Having said that, I'm trying to honestly be transparent and say, "What would Dave and Sharon Ramsey do?" And I'm not sure it's the right thing. It's not a moral statement or saying it's the only way to do it. I think what you're doing is okay if you're doing the 11 months. I don't see anything wrong with that whatsoever. I think it will happen faster than 11 months. It usually happens faster than the math says it's going to when you've got this kind of intensity.

A compromise might be let's not do it right now, but if we slip a little bit, then we have to agree that we're going to kick that in. If we don't stay on track or accelerate the track, then we have to agree to kick that in. Having said that, I will tell you that my wife and I are both very good at relaxing and very good at enjoying our time off. But we're both very big on hard work. Being perfectly transparent and not using that as a judgment or reason to do it, I've got to admit that if I were to say, "What would Dave and Sharon Ramsey do?" I'm probably doing it because it's my nature and that's just how I do stuff. I just go at it. I don't think it's bad if he does. I don't think it's bad if he doesn't. I'm just being transparent about what Dave would do just for purposes of discussion. What I would probably suggest to you guys is a compromise.