EP162 – Listener with a $20,000 tax refund; Budgeting for sky rocking gas prices; How to save for a home

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We begin with a little financial talk on what the Island Boys should be doing with their new-found fame money before the flame runs out. We then get into your questions and comments!

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My tax refund check is about $20,000. I will use $1,000 to contribute to my emergency . With the rest should I apply it towards another savings account after I pay off my debt ? What type of savings account? We didn’t file for 3 years. I have one son. My Husband and I filed jointly. I do not work. I did not know it was bad to get a huge tax refund.

1. Phones
2. Best Buy
3. Capital one

We own both vehicles and rent a house. We have the option to private purchase with a $4,100 down payment. Total house with down is $35,150.

How are you all dealing with inflation’s impact on your living expenses? This is throwing a wrench in my budget.

Is it better to invest in different funds or an all in one fund to get the four different categories that Dave Ramsey recommends?

What do y’all think i should do? We rent and started saving for a home for the future. Should we save separately for a home and our regular savings? So skip step 6 and start seven? And what we save in step 7 we can use to buy a home?

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