We’re back with Dave and Sherry Wilhite to continue our conversation on their differing views on cash and credit.
Dave and Sherry explain how they found out their outlook on money was very different, how they came to agreement with how to spend their money, and why they chose cash over credit…
Today, we’re back with Dave and Sherry Wilhite, to discuss the benefits of using cash over credit when making purchases.
Dave explains how his father encouraged him into a life living off credit, and Sherry explains how she brought Dave out of this world.
We talk about the problems of relying too heavily on credit, the value of saving, and much more…
“My contribution is just pushing back on every decision.” – Sherry Wilhite
“Interest works for you, or it works against you.” – Dave Wilhite
“We were taking the opportunity and enjoying it to the fullest, but we weren’t taking advantage of the opportunity.” – Sherry Wilhite
00:39 – When Dave and Sherry first discussed credit, they found out they had very different views on finances.
02:40 – How much Dave got paid at his first job out of college.
04:08 – The importance of having financial education re: how to make money work for you.
06:07 – How Dave’s father encouraged him to get into debt.
10:14 – How Sherry helped Dave change his focus from credit to savings.
12:57 – Why Dave and Sherry moved to San Diego.
15:33 – The added stress of living paycheck to paycheck.
18:03 – How Sherry’s parents were able to help them financially because of their own money management skills.
20:48 – The difficulties that came with having to go back to borrowing money to cover the mortgage.
23:40 – How to make interest work for you instead of against you.
27:59 – The importance of being generous.
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