Dave Says: Thinking Like a Dreamer
By Dave Ramsey
CBN.com – These days it pays to be smart about money. That's why it's important to take this wise counsel from financial expert Dave Ramsey.
We're debt-free including our home. My husband is a man of faith, but a bit of a dreamer. He has written several inspirational books that haven't sold, but he feels this and public speaking are his calling. He wants us to sell the house, and live on the proceeds for a year, while he pursues this dream. What do you think of the idea?
It sounds to me like your husband has a good heart, but I think it would be a huge mistake for you guys to sell your home when he hasn't proven that he can sell anything he writes or says. I understand where his head is at right now. He wants to help people, and that's a noble cause. But being a motivational writer and speaker can be an addictive thing. For some folks, signing books and being on stage are almost a high; they can make you feel alive. But the whole idea can draw you into the land of financial stupidity if you're not careful.
My advice would be for him to keep his day job, and work his tail off nights and weekends to try and make this dream a reality. Let's draw up an internet strategy to get some exposure for the books he has already written. He could contact local civic groups, and offer his services as a speaker for their meetings, too. In the process he might sell a few books from a table in the back of the room, and I know he'd get lots of valuable experience while building his name.
It may take longer than he'd like, but that's a much better idea than the one he has now. It allows him to work toward a goal and not put his family in financial danger. Then, once he's making a nice income on the side from writing and speaking engagements, you guys can look at the numbers and see if it's feasible for him to dive in on a full-time basis!
In short, I think there's hope for the future. In the meantime, I would cover it with a slightly larger emergency fund. Just add a few thousand to what you would normally set aside for emergencies, because you might face some medical issues, as well.
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