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What would Dave Ramsey say?

Just starting Dave's program, BUT auto insurance, $600 COBRA payment and rent are due March 28th. Not enuf cash to pay ANY until new job paychecks start rolling in in 2 weeks. Should I open a credit card with 0% APR and put these items on the card? I don't see any other options. THANKS in advance for any comments.

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Asked by Anonymous at 5:27 PM on Mar. 19, 2011 in Money & Work

Answers (4)
  • Dave would yell NO NO NO NO NO NO! If you take out additional credit while on the Dave plan, you are failing drastically. You are supposed to take care of your 4 walls first, then pay the others. What are you getting out of Cobra? If it's just you, find something else until your new insurance kicks in. If it's a family policy, you could probably find something cheaper.

    Answer by SnapdragonSMT at 8:24 PM on Mar. 19, 2011

  • Dave would probably say to sell stuff or to take a temporary cash paying job. Or a combination of both- babysit, clean a home, mow tons of lawns, etc. When you're on the Dave Ramsey program it's more like coming up with different ways to get the things done that you need to.

    You could also join the Dave Ramsey Fans group on CM and maybe some of those ladies will have some other ideas for you. Good luck!

    Answer by Erica_Smerica at 8:43 PM on Mar. 19, 2011

  • He would say NO! That's part of being on the Dave Ramsey plan, freeing yourself from turning to credit. I cut up every card to remove the temptation to fall back on them. I feel your pain. My dh has been out of work for 8 months and its been a serious struggle. I've had late car payments. My mortgage got behind, but I never once turned to credit. We sold many things, and luckily tax time came just in time to get our house out of foreclose. If they have to be late then so be it. Put rent first. Some things we have done for quick money are sell on Craigslist, selling baby clothes and items, sold an ipod and playstation, sold ps3 and xbox games to gamestop, sold our guns, sell ANYTHING! LOL. I work at a health ins. company in the individual market. I would Definatly shop around for less expensive insurance. Cobra is usually THE most expensive way to be insured. GL!

    Answer by Astraea_79 at 1:50 AM on Mar. 20, 2011

  • He would say NO! You want to take care of auto insurance and rent first. I would let cobra wait if you have too. Or pay auto & rent first and pay what you can toward cobra. The main thing is to COMMUNICATE with which ever one you can't pay and let them know the situation. Best wishes! Don't give in to temptation! Opening a CC will just add that much more you have to pay next month.

    Answer by lil-momma-shara at 7:39 PM on Mar. 20, 2011

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