Where Do Kids Fit In to the Baby Step Plan?
Joel says his wife really wants to be a mom and would like to start planning for that. Joel wants to wait a little longer and build up their emergency fund before taking that step. Who's right?
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Saving
Take Care of College
Lou and his wife have $55,000 in individual stocks they want to move. They have four kids, and the oldest will leave for college in five years. Should they pay off the house or put the kids through college?
School Cost Versus Salary
Sarah and her husband have $35,000 in debt. Sarah wants to go to school for a better education and a better job. Dave recommends looking into the cost of the school and potential salary before pursuing it.
No CDs for Kids
Abe asks if it is a good idea to start a CD account for his two small children. Dave says no.
We Are Having a Baby! Should We Stop Investing and Save?
Brett and his wife are expecting their first child. They've stopped their debt snowball to stockpile money. Should they begin contributing to their 401(k)s up to the employer match or continue to hold off?
Saving For the Twins' Future
Candace just had twin boys five months ago and is wondering what the best option is for building up savings for them once the family's debt snowball is finished.
Extravagant Giving Foolish Spending?
Linda and her husband have several hundred thousand dollars in savings. They pay for their children and grandchildren to visit during Christmas each year. Her mom thinks it's foolish spending. Who is right?
Are Extended Warranties a Good Idea?
Laura recently traded in a pickup truck for a new pickup truck. She purchased an extended warranty, and Laura feels like that was a mistake. Dave advises her to cancel it right away.
Put Limits on Wedding Spending
Joe is on Baby Step 2 and has $33,000 left to pay off. One of his daughters is getting married in about a year. How does this fit into the Baby Steps?
Nobody Ever Saves Enough
Jonathan asks what happens to the money in an ESA if a child gets a scholarship and no longer needs the money. Dave explains.
