monkeybusinessimages, Getty Images/iStockphoto
My husband and I are debt-free, and we have several hundred thousand dollars in savings. We pay for our children and grandchildren to visit during Christmas each year, but my mother thinks this is foolish spending. What do you think?
I’m sure your mom loves you guys a lot, but she’s wrong twice on this one. First, she should mind her own business. Second, you guys have obviously worked hard and been extremely smart and disciplined with your finances. For someone in your situation, bringing your family together for one of the most important days of the year isn’t foolish on any level. I think it’s awful that you’re even having this conversation with her.
One of my great dreams years ago was to have the ability to do things like that for my family. When I was 22, I worked for a real estate guy who would bring his entire family in from all over the country once a year to go skiing for a week. He and his wife would pay for everything. They would rent a nice chalet and spend that time having fun as a family and growing closer together. I sort of borrowed that idea a while back. Once a year, we’ll take all our kids and their spouses on a nice vacation. We pay for everything, and it’s just one of our gifts to them because we love them.
So, I think your mom is completely wrong. There are three things you can do with money: spend, save and give. Trust me, giving is the most fun of all!
Is it possible to book a hotel room without a credit card?
Absolutely, it is. Just use a debit card.
I don’t have a credit card. When it comes to finances, the only pieces of plastic you’ll find in my wallet are two debit cards — one for my business and the other for my personal account.
A Visa or Mastercard-branded debit card can be used anywhere credit cards are accepted. And the best part is that you’re not borrowing money when you use one. The funds come directly from your checking account. Some hotels might put a temporary hold on your account for the amount in question, so you need to make sure you actually have the money in the bank. But that just makes sense, doesn’t it? You shouldn’t be traveling without money in the first place.
If you’re too broke to travel, then you need to stay home. Pretty simple!
Follow Dave on Twitter at DaveRamsey and on the web at daveramsey.com.
- Top 50 companies to work for in Utah
- Dave Ramsey says: Tips for stretching dollars...
- Extended warranties a big sell. Are they...
- Utah job forecast better than most states
- University of Utah entrepreneurship program...
- A Closer Look: Your (online) life after death
- Clean up your finances by tossing paper,...
- The market power of pumpkin spice
- US wealth gap putting the squeeze on... 26
- The economy has begun to recover, but... 24
- Extended warranties a big sell. Are... 4
- Dave Ramsey says: Tips for stretching... 4
- These are America's 10 poorest congressmen 2
- How employers can improve the nation's... 2
- Save money by replacing appliances that... 1
- Retail sales are up since last month 1