Nerd alert! I listen to the Dave Ramsey radio show almost every day and when I heard he was coming to Spokane I freaked! I may have screamed in my car and I know I bought tickets that same day. For those of you who may not know of Dave, he is an author and radio host who firmly believes in getting and staying out of debt. On his stop in Spokane recently, Dave and his daughter Rachel Cruze (both authors of the book Smart Money, Smart Kids) spoke about paying off debt, saving for retirement and college and living a life free of money problems like so many Americans. I was most interested in what they had to say about kids and money and wanted to share with you the three keys points that hit home for me.
- In order to teach kids about money, live life in front of them. When they ask what you are doing, instead of saying “paying bills” get them to come and actually get involved. Have them read you the balances of the bills, tell them how often you pay them, let them learn through your experiences.
- Teach them to work, give, save and spend wisely. This is not something often taught in school, it is your job as a parent to teach them these things. And start early. It’s a journey, but a great one to learn as a family.
- You don’t have to be perfect, just intentional in your teaching. No one is perfect. As long of you guide them the best you can with the best intentions, you are giving them a gift no one else can.