Dave Says – Close up small business?

Need some financial advice? Debt and Income Crisis? Pay off the house first? Check cashing? Taxes? Credit Cards? Check out what folks are asking Dave Ramsey.

 

Dear Dave,

I have a small business, and I love what I do. Unfortunately, things haven’t been going well the last several months. On top of that, I’ve committed a lot of money to advertising in the coming year. Recently, I got a great job offer from a company that would pay me twice what I’m making now. What do you think I should do?

Hugh

 

Dear Hugh,

If it were me, I’d want to keep my options open. Closing your business would mean giving up all your customers. I’m not sure that’s a good idea when the offer has just been made, and you know so little about the actual job.

If you think this new job is something you might like, why not accept the offer and see if you can continue your other work on the weekends? That would help cover some, if not all, of your advertising commitment. Plus, it would keep some money rolling in if the new job doesn’t work out.

If you find you like this new job, then you’ve got a great income and something you like doing on weekends that pays. If you keep your business open — even on a small scale — there’s always a chance it will begin to grow again. Who knows? It might give you the opportunity to jump back into it full-time somewhere down the road!

—Dave

 

The key is serving

 

Dear Dave,

I just accepted my first job in sales. In your mind, what is the key to becoming an excellent salesperson?

Bobbie

 

Dear Bobbie,

The key to becoming a great salesperson can be summed up in one simple word—serving. I’m not talking about being subservient. I’m talking about always giving 110 percent towards ensuring customers and potential customers are served well. It’s all about being proactive.

Serving means you believe in what you represent, and you’re excited about what you have to offer. It means you’re determined to give people a great experience. If an issue happens to arise, you’ll take care of it quickly and completely. You’ll do this in a way that will make them forget it ever happened.

Really, serving is an attitude. You can pressure people if you want, but that’s going to lead to a dull and frustrating life of one-shot deals. But if you serve people well, you’ll have clients for life and they’ll send their friends and associates your way.

Make helping people your first order of business, Bobbie. If you do that, you’ll never have to worry about money!

—Dave

 

Wait on the honeymoon?

 

Dear Dave,

My fiancé and I are getting married in three weeks, but he lost his job as an experienced HVAC technician at a hospital a few days ago. Do you think we should still go on a honeymoon, or wait until things are more stable? I’m on Baby Step 3 of your plan, and I make $56,000 a year. I also have $7,000 in an emergency fund. He was making $64,000 a year, and he’s on Baby Step 2 with about $10,000 in car debt remaining. We have $3,000 already set aside for the trip, plus another $2,000 we were planning to put toward fixing up his place.

Corina

 

Dear Corina,

First, congratulations on your upcoming wedding! I hope you two will have long and happy lives together.

Usually, I’m not a big fan of spending when someone loses a job. But I think your situation is a little different than most. You’re both serious about dumping debt and getting control of your finances. Plus, you’re working together, and you’ve already got a nice chunk of cash parked in the bank. That tells me you’re both wise enough to know the importance of saving.

Your guy can find another job in a couple of weeks, considering his field and experience. Companies everywhere are hiring people right now, and the economy is booming! If he gets out there and really busts it looking for another position leading up to the wedding, I think you two will be fine. He might even be able to work it out to start right after the honeymoon.

You two have some financial padding, his job is an easy one to replace, and his income will be restored soon if he’ll just get out there and make it happen. Go on the honeymoon, and have a wonderful time. God bless you both!

-Dave

 

Dental insurance for the kids?

 

Dear Dave,

Should I keep buying dental insurance for my kids, or is it just a gimmick?

Brenda

 

Dear Brenda,

Dental insurance is one of those things where it’s easy to see that the payout is greater than the return. We’ve had dental insurance proposed to us at my company several times as an employee benefit, but when you add up what you pay for it you’ll find you rarely spend that much on dentistry. In many cases, I advise self-insuring for dental care.

Now, there is a dental discount company I highly recommend called 1Dental.com. This kind of thing is worth it. As a member, you get discounted rates on dental work when you visit an in-network provider. I’ve gotten to know the folks behind this organization, too, and they’re great people.

Hope this helps, Brenda!

-Dave