Saturday, February 13, 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

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.

VideoMissing: Male Boxer, since evening of Jan. 4, Hwy. 97 West, rear of Promised Land Creamery, $500 REWARD. Call 830-391-2240 with information.
Lost: Female German Shepherd, about 2 years old, pink collar, lost from Hickory Hill/Great Oaks Subdivisions off FM 539, La Vernia, on Thurs., Feb. 4. Reward! 830-947-3465.
More Lost & Found ads ›

Help Wanted

Be skeptical of ads that say you can make lots of money working from the comfort of your home. If this were true, wouldn’t we all be working at home?
Caregivers needed. Call 830-431-2389.
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


This is your college fund




E-Mail this Story to a Friend
Print this Story
Dave Ramsey
Financial Straight-Talk
October 9, 2013 | 1,719 views | Post a comment

Dear Dave,

Our daughter is 11 years old, and we save $50 a month for her. Right now, we’ve accumulated $4,200 for college, a car, or just savings in general. Should we be investing this money, instead of putting it in a savings account?

Jill

Dear Jill,

If I were in your shoes, I’d choose college as the focal point over the other things you’ve mentioned. My advice would be to move that money into a 529 Plan with mutual funds inside. That way, it will grow tax-free from this point forward. Then, if you continue to set $50 a month aside for her for seven more years -- and the stock market averages 11 to 12 percent -- you’d have about $16,000 sitting there when she turned 18. That wouldn’t fully pay for college, but it’d be a great start. Plus, she can apply for scholarships and grants and work and save to help make it happen.

As far as a car is concerned, I’d set up a separate savings account and agree to match whatever she saves. That way, if she can put aside $3,000 to $4,000, with the match she’ll have a pretty nice car. But in my mind, college is the most important thing here. If you guys can afford these contributions, and she wants to go to college and will hold up her end of the deal, you can work together as a family and make the idea of a college education a reality!

Dear Dave,

Should families who are struggling to pay off debt still give their kids commissions for doing chores?

Steve

Dear Steve,

Yes, but it doesn’t have to be a lot of money. Kids seldom get paid an amount that is equal to what the chore is worth. To be perfectly honest, the chores most kids do -- especially the little ones--aren’t worth that much. I wouldn’t pay a kid $5 a day, or even per week, to feed the dog. I mean, it takes less than 30 seconds to scoop the food into the bowl!

When it comes to paying kids commissions for chores, the biggest thing we’re trying to do is find teachable moments. We want the kids to learn that money is tied to work. Then, when they have some money, we want to teach them about the three uses for money -- spending, saving, and giving.

Teaching them wise ways to do those three things while you’re teaching them to work is the key. And you can do that for a small amount of money.

Dear Dave,

How long should it take someone to fully fund their emergency fund?

Chris

Dear Chris,

On average, building an emergency fund takes six months to a year. It takes about 18 to 24 months for most people to pay off all of their debt, except for the house. That’s if they’re gazelle intense, and have no life other than getting control of their finances.

Baby Step 1 is saving $1,000, and not paying extra on your debts until you have that money in the bank. Once you’ve got a $1,000 starter emergency fund, then you list all of your debts except the house from smallest to largest and attack them with a vengeance. All you do is work and pay off debt until you clean up the mess. Once that’s done, you move on to the next Baby Step, which is adding to your emergency fund until you have three to six months of expenses set aside. Most people can accomplish that in six months to a year.

There are always various factors involved because everyone’s situation is different. But in most cases, if you approach my plan with the kind of intensity I talk about, you can become debt-free except for your house and have a fully-loaded emergency fund in place in just two or three years!

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 nab 7 in human-trafficking sting (February 10, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Apply now for Miss La Vernia Pageant (February 10, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Behind the lens: Hitting the trail (February 10, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. BPA students advance to state (February 10, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Bud Box ends two-decade career at alternative school (February 10, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Chamber to hold monthly luncheon (February 10, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. China Grove mayor, police chief clash (February 10, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Commissioners amend Kicaster-area fire coverage plan (February 10, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Court Update (February 10, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Dating and the budget (February 10, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Donate blood to save lives (February 10, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Editorial: It’s about ‘We the People’ … what will ‘we’ do? (February 10, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Editorial: National election: Iowa down, New Hampshire to go (February 10, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Firefighters plan Pancake Breakfast (February 10, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Floresville mayor to councilman: Sit down or else (February 10, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Floresville park’s erosion problems prompt action (February 10, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Free heart health screenings (February 10, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. H-E-B ice cream recall (February 10, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. La Vernia trustees consider $33.2M bond, approve new finance chief (February 10, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Lean meat still part of a heart-healthy diet (February 10, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Letter: House fire victim extends gratitude (February 10, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Letter: Pastors should keep out of politics, stay in church (February 10, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Letter: Unruly government needs discipline (February 10, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Letter: Writer says it’s okay to ignore the charter (February 10, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Meeting Watch: Evergreen Underground Water Conservation District (February 10, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Meeting Watch: Floresville Planning & Zoning Commission (February 10, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Meeting Watch: St. Hedwig City Council (February 10, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Oil, gas leasing workshop Feb. 22 (February 10, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. One-stop tax shop? (February 10, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Petition supporters plan protest rally (February 10, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Police Blotter (February 10, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Presidents’ Day office closures (February 10, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Register for Great American Cleanup (February 10, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Save the date for ‘Hope in High Cotton’ (February 10, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Should Christians support sanctuary for illegal aliens? (February 10, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Stockdale supports apartment venture (February 10, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Things are looking up in downtown Stockdale (February 10, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. ‘Official oppression’ or ‘criminal trespass’? (February 10, 2016)
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)