Paid cash to fix car, then mechanic calls back for more!
Dear Dave,
My wife and I had our car worked on the other day and brought it home with a receipt stamped “paid in full.” The next day, the mechanic who worked on the car called and said we owe an additional $50 for labor. We looked on the bill, and the cost of labor was included. We want to be fair, but we also don’t want to be taken. What do you suggest?
Paul
Dear Paul,
If the manager or mechanic doesn’t have sense enough to put all the charges on the bill before you pay, then this really isn’t your problem. They closed out the transaction as paid in full, so this is a closed deal. It takes a lot of gall for any business to call up a customer the next day saying “Oops, I need some more money.”
Morally, you don’t owe them anything else. But you need to call these people and get a straight answer about the charges. I wouldn’t get into a big, messy fight over $50, but I might walk away from a place and never do business there again.
- Dave
Single mom needs help with estate planning
Dear Dave,
I’m a single mom with a 13-year-old daughter. Recently, I visited a lawyer and drew up a will. He advised that I change the existing beneficiary of my life insurance policy from my daughter to my estate. What do you think? I was also wondering how taxes will affect this policy.
Dawn
Dear Dawn,
If it were me, I’d set it up where the money goes into a trust for your daughter’s benefit.
A few years ago I set up a family trust. The beneficiary on my insurance policy is my wife, but if something should happen to both of us the money will go into the trust. From there, it’s the trustee’s job – according to the dictates of the trust – to manage the money for the benefit of our kids.
You probably won’t have any tax worries. There’s no income tax on life insurance beneficiary payments as long as the amount involved isn’t above the estate tax limit of $750,000.
- Dave
Any good reasons to keep a credit card?
Dear Dave,
I’m a youth minister in Texas, and often I’m out on the road with the kids going to and from events. I have one credit card with a zero balance and would love to destroy it, but started thinking maybe I should keep it for emergencies or car rentals. Is there any good reason to hold a credit card?
Chad
Dear Chad,
You can use them to scrape the frost off your windshield in winter …
NO, there’s NEVER a good reason to hold a credit card! Get a debit card. You can use it for virtually anything a credit card will do like get a hotel room, buy stuff online, or rent a car almost anywhere. A few rental car companies do have pretty silly requirements for debit card use or only accept them in certain parts of the country, but those guys are too expensive, anyway!
With a debit card, you’re using YOUR money instead of borrowing it from someone else. The borrower is ALWAYS slave to the lender, Chad.
- Dave
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Dave Ramsey is a nationally syndicated radio talk-show host and best-selling author. His life experience gives him an unusually deep perspective and insight into life and money matters. Be sure to get Dave's "Total Money Makeover: A Proven Plan for Financial Fitness." If you'd rather order by phone, call WND's toll-free customer service line at 1-800-4WND-COM (1-800-496-3266).