Page 6 shop online at www.broadcasteronline.com September 6, 2011 DAVE SAYS: Prepping for an emergency Dear Dave, My husband needs a liver transplant within the next two years, because he has Hepatitis C. We make about $70,000 a year, but we have $25,000 in debt. He’s still able to work right now, and we have health insurance, but how can we prepare for the operation and medical bills? Nikki Dear Nikki, God bless you guys. It’s going to be tough, because you’re going to face a lengthy loss of income, and sky-high medical bills even if everything goes well. I’m really sorry you have to go through this. Life can be hard enough without major health issues knocking you for a loop. The good news is that there’s something you can do about all this, and it all starts PROFESSIONAL CARPET & UPHOLSTERY CLEANING & DISASTER RESTORATION SERVICE Satisfying customers for 43 years! Plan ahead! Call today for your appointment. 877-Louies3 (568-4373) • 624-2485 with saving. First, set aside an emergency fund of three to six months of expenses as quickly as you can. In your case, I’d recommend leaning toward the six month side. Second, you guys need to have no life for the next year or two, and get very serious about paying off as much debt as possible after you get your emergency fund in place. I’m talking about following a very strict budget, and living on rice and beans. Bottom line? The less debt you have, the better off you’ll be. Wouldn’t you love to be debt-free and have six months of expenses in the bank before they perform this operation? You can do it, if it becomes important enough to make it priority one! —Dave Who’s liable? Dear Dave, I attend a small church with about 100 members. There is a $97,000 mortgage at 8.75 percent on the building, and the note was signed only by the pastor. In the event of default, are the members of the congregation liable? Charlene Dear Charlene, Unless you signed the note, you are not liable. If the pastor signed the note personally, or on behalf of the congregation, it would actually depend on the wording in the note as to who is liable in case of default. But this whole situation is kind of silly, and I’ll tell you why. If everyone in the congregation gave an extra $83 a month in their TODD’S ELECTRIC SERVICE “The Line To Power” Design/Build • Fiber Cabling • Commercial • Residential Service Calls • Boom Truck with Auger • Trenching Serving the Beresford and Vermillion Areas 1-800-560-2518 1221 Cornell St., Vermillion, SD • 605-624-5642 201 NW 13th St., Ste. 3, Beresford, SD • 800-560-2518 At a time of sorrow and uncertainty, you can count on us for the support you need. • Prearrangement Services Available • Video Tributes • Several Cremation Options Available James Bartels Intern Eleanor Eagle Bear Personal Assistant Dear Dave, I’ve always been intrigued by the restaurant business and wanted to open one of my own. Recently, the opportunity presented itself to open a McDonald’s franchise. I really want to do this, but it would take years for me to save up the money. Is it okay to borrow money to start a business? Jim Dear Jim, It will take longer to save up the money and open the business debtfree, but that’s exactly RAMSEY what you should do. Most small businesses fail within the ?rst ?ve years. One of the main reasons for these failures is the struggle to repay debt. If you’re into restaurants, try starting small with a catering business out of your home. This will give you a taste of managing your own food service business, and let you know if you really like that kind of work. It will also give you the opportunity to make and save some money. That way, when your restaurant dream becomes a reality you can honestly say that you own the business instead of it owning you! —Dave * For more ?nancial help, please visit daveramsey.com. www.broadcasteronline.com N ew castl N E e, 624-4466 • www.koberfuneralhome.com Erin Feldman Intern/Pre-Need Counselor I want to open a franchise, but … Dave 2BR • Ranch Styl H ou se • G reat L ocati e on! 402 East Main St. Vermillion, SD 57069 Lori Kober, Funeral Director, and Tom Kober, Co-Owners tithe – that’s only about $20 more every Sunday – you could have this mortgage knocked out in a year! There’s absolutely no reason for your church to be in debt 12 months from now. This is a prime example of what happens when a church adopts the same mentality as the rest of the world. The Bible itself warns us that the borrower is slave to the lender! —Dave Lynn Lawrensen Videographer E xcelent l l ocation on corner l across from the park.R anch ot styl hou se bu il in the m id 70’ Tw o bedroom s, kitchen, e t s. l iving room ,and fu l bath on m ain fl Finished basem ent l oor. w ith 3/4 bath and l ndry room .B asem ent al has potential au so f additional bedroom s. A ttached sing l car g arag e w ith or e breezew ay, new el ectric fu rnace, A /C , w ater heater, and seam l g u tters al in su m m er 2010.Incl des w ater softener, ess l u dishw asher,g arbag e disposal and el , ectric stove (refrig erator is neg otiabl L ot approx size 90’ x 160’ H ou se is approx. e). . 1050 sq. ft. A l m ain fl carpeting l than 6 years ol l oor ess d. H ou se w il have new roofthis f l A sking $73, l al. 500. 7 12–251–6236 Expires September 30, 2011 – Limit 1 coupon per visit Tell them you saw it in the Broadcaster! Vermillion, SD 624-4429