Ask Chuck: Second Stimulus Check?
Dear Chuck, The government is talking about a second round of stimulus money – is it real? What should I do with it? Watching for Money in the Mailbox Dear Watching for Money in the Mailbox, You are correct; the government is discussing the passing of another stimulus package. The Republican Party offered a […]
Ask Chuck: Planning a Budget-Friendly Wedding
Dear Chuck, We anticipate two of our girls will be getting married in the near future. Due to the uncertainty with COVID and the economic setback in our family business, we are unsure how to proceed. Any advice? Father of the Brides Dear Father of the Brides, These are in fact strange times for […]
Ask Chuck: Credit Card Vs. 401(k)?
Dear Chuck, My home’s air conditioner went out. We’re getting by with some fans but need to replace the unit soon. Should I use a low interest rate credit card or borrow from my 401(k)? Hot in Texas Dear Hot in Texas, Having grown up in Texas myself, I understand this is a need […]
Ask Chuck: Is Refinancing My House Worth It?
Dear Chuck, With interest rates so low, should we refinance our house? We bought it in 2014 for $220,000. We put 10% down and still pay PMI. We think it is worth $240,000 now. We also have some troubling credit card debt we want to pay off in the refi. Refi Now? Dear Refi […]
“Cash is King!” and Other Bad Financial Advice
“Cash is King!” is a popular financial phrase used to describe the strength of adequate cash flow or cash reserves particularly during a crisis or downturn. It sounds good to the ears, is memorable and easy to believe, but it is not true. I happen to own a 100 Trillion-dollar bill. That is a one […]
Ask Chuck: Practical Advice During the COVID-19 Crisis
Dear Chuck, Many of the young people in my Bible Study are frightened of the Coronavirus and the threat to their families. I understand their fear. But, as an older American, I’m also concerned about their economic well-being in the aftermath of this crisis. What kind of financial advice can I offer them? Sheltered in The Storm Dear […]
Ask Chuck: What Can I Do About Christmas Debt?
Dear Chuck, I have credit card debt from last Christmas and don’t see any way out of adding to it this year. I am depressed about it but can’t bring myself to deny my children a great Christmas. What can I do? Christmas Stress Dear Christmas Stress, I have been in your shoes and […]
Ask Chuck: Will Social Security Go Broke?
Dear Chuck, I’m a recent college graduate with my first “real” job. With that comes paying into the Social Security System. My concern is whether or not there will be funds for me someday, especially in light of the recent deficit report. Worried Millennial Dear Worried Millennial, First, I am impressed with a number […]
Ask Chuck: Financing Fixer Upper Fever
Dear Chuck, I need your advice. My husband thinks we should get an installment loan to update our home. Although we can do a lot of the labor ourselves, we need materials, tools, and some professional labor to get what we both want. I would rather save for a year, but he has time in […]
Ask Chuck: When Should I Buy a New Car?
Dear Chuck, I want to replace my mother’s clunker and am considering financing a new one. My father died unexpectedly and I want her to hold onto what little savings she has. What would you do? Taking Care of Mom Dear Taking Care of Mom, It is wonderful that you are helping your mom. […]