The Rule Is No New Debt

Scott on Facebook says his wife wants to go back to school, and they’re still in Baby Step 2. Should they wait until they’re out of debt or cash flow it now?

QUESTION: Scott on Facebook says his wife wants to go back to school, and they’re still in Baby Step 2. Should they wait until they’re out of debt or cash flow it now? Dave tells Scott as long as they don’t get any new debt, she can go ahead and start.

ANSWER: If it just slows down your getting out of debt and she can go ahead and get in and you cash flow it with no new debt, I’m in. Rock and roll. I love school. Knowledge—not degrees—is the currency of the new millennium. That’s why I read like a maniac. I need to read and stay up with some of you that are way smarter than me, which is most of you.