December 24, 2013 • Page 2 shop online at www.missourivalleyshopper.com Dave Says Intense Focus On Beating Debt BY DAVE RAMSEY Dear Dave, What would you recommend for 401(k) contributions while getting out of debt? — Chaz Dear Chaz, I recommend putting a temporary stop to Dave investing while you’re getting out of debt. Lots of people are shocked by this advice, because they’re afraid of missing out on the wonders of compound interest or their employer’s match. But the key word here is “temporary.” Millions of people have followed and been successful with the program found in The Total Money Makeover. The first step, Baby Step 1, is to save $1,000 as a starter emergency fund. Baby Step 2 is pay off all of your debts, except for your house, from smallest to largest with the debt snowball plan. During this time you’re attacking your debt with incredible intensity and putting every penny you can scrape together toward knocking out debt. The average person working my plan can pay off all their debt, excluding their home, in 18 to 24 months. Some folks can do it faster, and for some it takes a little bit longer. But during this time I want your financial focus to be squarely on getting out of debt. Once that’s done, you’ll find that you have a lot more control over your biggest wealth-building tool: your income. Many times in life we try to accomplish too many things at once. One problem with this is often it diminishes our ability to focus. When you spend all your time nickel-and-diming everything, the result is that nothing gets done very well. You need to really move the needle and see results because personal finance is 80 percent behavior and only 20 percent head knowledge. It’s not really a math issue because if you’d been doing the math all along, you wouldn’t have a bunch of debt. RAMSEY Ready for snow? We Are! Get your cold weather gear here. HUGE selection to choose from! you long to rebuild your savings all the way back to what you had before, if that’s what you both want. You could do it in just a few months. I’m looking at this as an opportunity to achieve the kind of financial independence everyone wants but few actually have. Go for it, Matt! — Dave That’s why, for a short period of time, I want you to concentrate with laser intensity on knocking out debt. Once that’s out of the way, you can pour even more money into saving, investing and achieving financial peace! — Dave SAVINGS AND SECURITY Dear Dave, My wife and I make about $100,000 a year. We have $63,000 in the bank, and we owe $47,000 on our home. The house is worth about $250,000, and it’s our only debt. We’d like to go ahead and pay off the house, but we’re worried about depleting our savings to that extent. What would you do? — Matt Dear Matt, If I were in your situation, I’d cut a check and pay off the house. Keep in mind that by doing this we’re not saying you’ll keep your savings at that lower point. Once that mortgage payment is off your backs, you’ll be able to save more and save faster than ever! That’s my advice. Pay off the house and become completely debt-free today. You’ll still have $16,000 dollars in the bank and a six-figure income. It won’t take If You read this you know… advertising pays! Call the Missouri Valley Shopper at 665-5884 665-7811 or stop by to place your ad today! 319 Walnut St. • Yankton hopper SHOPPER Missouri Valley MISSOURI VALLEY It was a bright morning, and we had finished off the coffee and conversation at the Mule Barn truck stop, and we couldn’t think of anything much to do because we were still full from breakfast and it was too early for lunch, and the political problems and Hollywood gossip tanks had been thoroughly topped off. So we went over to Doc’s house to look at his mare in the back yard. She had, he said, a quarter crack in a front hoof. So there we were, in a half circle around the little mare, staring at that slight crack as though focusing would bring a welded solution to the problem, but we all knew we just needed to drink Doc’s coffee and change the scene. “I see you have a block of salt,” Bert said. Doc nodded. Bert said, “Speaking of salt …” We really hadn’t been, but smooth transitions aren’t always easy. “…. puts me in mind of the time I stopped in that little store,” Bert said. “Few years back now, I guess. Well, it was about the last time Milly had pups, because I think I’d left her home to have them. Of course, she waited until I got home ….” Doc and Steve stared at him encouragingly. “And?” “Oh … well, there’s this little store up north … out in the middle of about flat nothing … and it was hot and I was thinking of a nice cold cocola right about then, so I stopped.” Bert looked around. “Dang store was about full of salt.” “Salt?” “Everywhere. This guy had ice cream salt. Bags of it. Salt blocks for horses, sheep, cows, rabbits and even danged guinea pigs. He had regular salt. He had huge bags of bulk salt for putting on the ice. “So I went to pay for my drink and I says to the guy, ‘You must sell a lot of salt.’ And he says to me, ‘No, but that salesman who calls on me sure does.’” ------Do you miss hearing rain on the roof? Time for a free hearing test. Call BELTONE at 1-866-867-8700. Missouri Valley Shopper Classifieds IN PRINT & ONLINE 4306 W. 8th St. • Yankton, SD (605) 665-3500 To place your ad, call: www.yanktonmotorsports.com 605-665-5884 USED EQUIPMENT Large Inventory at Great Prices! New Equipment Coming In Daily! USED TRACTORS 12 MONTH 0% INTEREST WAIVER . $140,000 ........... .......... . . . . . . . . . . . . . . . $134,000 . . $128,000 ........ . . . . . . . . . . . $40,000 . . $132,000 ............. ........... . ........... ............ 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Extended Cab, Short Box 4x4 • 6.0L V8 • 6 spd Automatic • Off Road Package • Onstar • Rear Park Assist • 18 inch Aluminum Wheels • Break Controller • Power Seat MSRP .............................................. $43,890 Rasmussen Discount .......................... $2,895 GM Rebate ......................................... $2,500 Truck Loyalty Rebate .......................... $1,000** Trade Assistance Rebate .................... $1,500** 36,995 .................................. $ *with qualifying trade in **must trade in 1999 or newer qualifying GM truck We asked our readers, “What EXTRAordinary results have you gotten from The Classifieds?” They answered. “I got my first job thanks to the Missouri Valley Shopper Classifieds!” - Joe Sizemann Don’t miss out on any of the extras. Find your next job, car, house, apartment, boat, guitar, pet or anything else you want to buy, sell or offer. MISSOURI VALLEY SHOPPER www.missourivalleyshopper.com