Sunday, February 7, 2016
1012 C Street  •  Floresville, TX 78114  •  Phone: 830-216-4519  •  Fax: 830-393-3219  • 

WCN Site Search


Preview the Paper Preview the Paper

Preview this week's Paper
A limited number of pages are displayed in this preview.
Preview this Week’s Issue ›
Subscribe Today ›

Lost & Found

Lost: Female German Shepherd, 2 years old, pink collar. Lost from Hickory Hill/Great Oaks area off FM539, La Vernia on Thurs. Feb. 4 Reward! (830) 947-3465
Bear, please come home! Missing since October 22, 2014, black Manx cat (no tail), shy. Reward! Help him find his way home. 210-635-7560.
Found: Basset Hound, Hwy. 97 W./Hospital Blvd., Floresville. Call 830-391-2153 between 9 a.m.-11:30 p.m.
More Lost & Found ads ›

Help Wanted

The Cutting Edge Salon and Spa in Nixon is looking for experienced hair stylist and manicurist. Call 830-582-2233.
Hiring seasonal workers at Braunig and Calaveras Lake. Apply within or call 210-635-8289.
More Help Wanted ads ›

Featured Videos





Video Vault ›
RE/MAX homeRichardson Chevrolet homeTNMC
You’ve been granted free access to this subscribers only article.

Section A: General News


Handling the severance




E-Mail this Story to a Friend
Print this Story
Dave Ramsey
Financial Straight-Talk
October 3, 2012 | 1,056 views | Post a comment

Dear Dave,

I’m an accountant, and my company is experiencing layoffs. I just learned that I’ll be losing my job in four weeks. I’ll receive a severance check, but I have no other savings set aside. Should I use some of the severance to pay off debt, or hold on to that money as long as I can?

Frank

Dear Frank,

I’d hang on to that money and pile up as much other cash as I possibly could. Right now, the most important worries are food, lights, water, and shelter. Debt is not on the list. We need to take care of your basic survival needs first and make that money stretch as far as it will go.

There are two bright spots in this scenario. One, you know the wolf is going to be sniffing around the door, and that gives you time to prepare. The second thing is you’re an accountant, and that’s a very marketable skill. Lots of companies are going to be looking for your kind of expertise as we slowly turn the corner and come out of this recession.

Here’s another thing. The better financial cushion you have during this time, the better you’ll do when interviewing for other jobs. Things will be tight, but if you’ve saved and budgeted your money well, you won’t come off as needy or desperate. You can be confident in your abilities to add value to a different company, instead of being all freaked out and begging for a job.

Then, once you’re settled into someplace new, you can start writing checks out of the remainder of the severance money and your first couple of paychecks to catch up on things.

Dear Dave,

Several months ago, I was diagnosed with stage 4 cancer. I have about $30,000 in credit card debt and would like to continue getting my finances in order. My husband has been unemployed for six years due to his own health issues, but I do have life insurance, a 401(k), and receive Social Security. How should we handle this?

Vivian

Dear Vivian,

God bless you and your husband. I know this is a really rough time for you both. I hope you guys are sticking by each other and loving on each other a lot. That may not make these problems go away, but it will make you each stronger and bond you together in incredible ways.

If I’m in your shoes, the last thing I’m going to worry about is credit card debt. Your concern right now should be your quality of life and taking advantage of all the medical options that are available to you. That’s the primary goal. You and your husband need to use your financial resources to prioritize, but at the moment you come first. For someone in your situation, that’s not being selfish.

The hard truth is this. We’re all going to die someday. Anything you own, like the 401(k), has to stand good for what you owe when you pass away. In other words, the credit card debt would have to be paid before your husband or others received anything from your estate.

I appreciate your diligence and honor in wanting to make sure your debts are handled. But in this situation, so what if a credit card company has to wait a while to get paid? It will happen when it happens. Right now, you are the No. 1 priority.

Dave Ramsey is a best-selling author of The Total Money Makeover and the nationally syndicated host of “The Dave Ramsey Show,” which airs locally on radio station 550 KTSA. View column archives at www.daveramsey.org. Questioners’ identities have not been verified by the Dave $ays column or this newspaper.
 

Your Opinions and Comments


Be the first to comment on this story!


You must be logged in to post a comment.




Not a subscriber?
Subscriber, but no password?
Forgot password?

Section A: General News Archives


Full article available to Wilson County News subscribers only. Click here to subscribe. Agencies uncover $400K in stolen vehicles, parts (February 3, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. China Grove begins vote on tax rollback (February 3, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Clock running out for Floresville recall issue (February 3, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Connally expands high-tech health care (February 3, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Council action changes boards (February 3, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Court Update (February 3, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Deputies charge Floresville spurned lover with arson (February 3, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Deputies investigate recent thefts (February 3, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Editorial: The demand for villains (February 3, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Editorial: What’s in a city charter? Is it like a … Constitution? (February 3, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Eight-liner opponents face deadline (February 3, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. FELPS pools tornado damage claim with city, Floresville ISD (February 3, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Floresville USDA accountant resigns (February 3, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Free CERT disaster course (February 3, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Get a free heart health screening in Kenedy Feb. 12 (February 3, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Greater LV Chamber to meet (February 3, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. H-E-B recalls cookware (February 3, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Hold on for now (February 3, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. It’s all happening at Nixon-Smiley Elementary (February 3, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Kicaster area will have fire coverage (February 3, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Landfill welcomes China Grove junk (February 3, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Letter: Apple Pie author extends thanks (February 3, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Letter: Gonzales differs with writer’s conclusion (February 3, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Letter: Talamantez truly a man of the people (February 3, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Life Line Screening event set in Floresville Feb. 28 (February 3, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Mock Republican Debate Feb. 20 (February 3, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Nixon-Smiley livestock show set for March (February 3, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. One dead in game-room robbery (February 3, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Pioneer Award honors Burnside (February 3, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Pirates Cove in Poth offers after-school care service (February 3, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Police Blotter (February 3, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Save the date for Lincoln Dinner (February 3, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. School district cops ink deal with city, county (February 3, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Second responders to meet (February 3, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Stockdale, La Vernia units respond to back-to-back fires (February 3, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Tanneberger is top agent (February 3, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Weigh in on Loop 410 changes (February 3, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Wilson County Hermann Sons lodges meet new-member goal (February 3, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. ‘Loving’ heart-shaped treats are for the birds (February 3, 2016)