Featuring Money Advice I Dave Ramsey money TALKS
RETURNING TO SCHOOL AS AN ADULT
Dear Dave ,
My wife and I have our fully funded emergency fund in place , and we ’ re debt-free , except for the house . She wants to return to school to get a master ’ s degree and change careers . She ’ ll be reimbursed up to $ 7,000 a year . Can we use some of our emergency fund to get things started ? Kevin
PHOTOS FROM BIGSTOCKPHOTO . COM
Dear Kevin ,
I ’ ve got a better idea . Save up the money !
You guys are in great shape already . And to me , this opportunity seems like a small investment with a fabulous return . I really like the idea . But you have to be careful when it comes to things like this . You don ’ t want to get into the habit of calling things emergencies when they ’ re not emergencies . It ’ s a great thing , but it ’ s nowhere near an emergency .
I know she ’ s excited about the possibilities , but I ’ d just roll up my sleeves , save a little extra for a while and cash flow the classes . She ’ ll probably get reimbursed for the first classes right after she gets her grades , then you can use the reimbursement check to pay for the next classes , and the next check the next classes . Make sense ?
I love the school idea , and I ’ m glad your wife has such a great opportunity . But I don ’ t want you to take a chance on messing up the progress you ’ ve made in taking control of your finances . Just take your time and save for those first classes .
You ’ ll be glad you did !
-Dave
Dave Ramsey is America ' s trusted voice on money and business . Follow Dave on Twitter at @ DaveRamsey and on the web at daveramsey . com .
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