Neighborhood – July 29, 2026
July 29, 2026
Dave Ramsey
Dear Dave,
I don’t have any kids, and I’m not married. I’m 35 and have a good job, plus I’ve got $25,000 in an emergency fund, $50,000 in a separate savings account and almost $100,000 in a retirement account. Should I have life insurance, too?
Angus
Dear Angus,
Basically, you only need life insurance to take care of the people and things you leave behind when you die. Someone in your situation, especially since you’ve been smart and saved up a nice chunk of cash, probably wouldn’t need a life insurance policy at all. I mean, an inexpensive policy might be in order if you have a little debt or something like that, but there’s a pretty good chance you already have a small policy built into an existing bank account.
When it comes to life insurance, just think about anyone who might be left in a bad situation or harmed if you died. If you worked outside the home and were married and/or had kids, I’d recommend having 10 to 12 times your annual income in a good, level term life insurance policy.
Your family could never replace you if something tragic happened. But with a good life insurance policy, they at least would be able to replace the income you generated.
Good question, Angus!
Dave
Dear Dave,
The church I attend encourages people to do their tithes through using credit cards and debit cards. How do you feel about this?
Tae
Dear Tae,
As you may have heard, I’m against debt. So even when it comes to tithing at church, I’m not particularly fond of members being encouraged to contribute their tithes using a debt vehicle.
The Bible mentions debt several times. And every time it does, it’s always in a negative light. It’s not a salvation issue or anything like that, but the Bible basically says debt is a foolish thing.
Now, I don’t have a problem with e-giving in general. That’s fine. But if I were the pastor or a member of the leadership board, and we had an e-giving process, I would strongly encourage folks to use debit cards – not credit cards.
A lot of people like the ability to give online. I get that. It’s just more convenient. But I’d rather not see a giving situation at church turn into debt for you.
Dave
