Equipping Your Kids to Handle Money - Dave Ramsey Part 1

Dave Ramsey has a passion for helping families stay out of debt, manage their money better, and build a financial legacy for future generations. (You can find more related resources here: bit.ly/2LAlPnb)
In line with that, Dave urges parents to manage their own money and financial budget better so that they will be able to teach sound money managing principles to their kids.
Dave Ramsey’s “Financial Peace Jr” kit (free with your gift of any amount: bit.ly/2QWo9ej) teaches children the values of working, spending, saving, and giving. Dave doesn’t like the term “allowance,” but prefers using a “commission” system of paying children as they complete age-appropriate chores. Dave encourages parents to allow children to make small and safe financial mistakes in the home (e.g. wasting all their spending money on a cheap toy) so that they can learn life-lessons for the future. He warns families that any and all kinds of debt are dangerous and should be avoided, and he also shares how giving generously will transform our faith and lives. Dave also describes how, as a new Christian, Focus on the Family taught him solid principles about marriage, parenting, and following God’s Word.

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Thank you Lucy Mary Liam $45,000 weekly Profit regardless of how bad it gets on the economy.

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I have broken through 45k, 72k and got my eyes on 150k USD! Champagne stays popping, she is too awesome.people prefyto spend money on liabilities rather than investing in assets and be very profitable

[@michellemitchell4703]

I had poor parents and due to their ignorance I wasn't taught about money management. I had to learn on my own through my adulthood and now at 54 I am trying to learn what I can and teach my adult children. Better late than never. Thanks Dave for your guidance and filling in the gaps. I am truly grateful.

[@tony72gut]

In the same boat. Learning in my 50's. Totally ignorant about money until I found Ramsey. Teaching my kids as well. Its never to late.

[@VIAl1]

Dave is the dad everyone needs❤

[@laurakinalwa8528]

Absolutely!

[@lyndahammel9502]

My parents were the best also. They taught me by example. When I went on a trip as a child I was given spending money. Any money I didn't spend I could keep. When my kids were born my dad gave me money to open a savings account for them in their name. He said that kids need to learn to handle money. Today my kids are both very careful with saving and spending. When my oldest daughter first went out on her own she opted for a cash card rather than a credit card. She made sure that she didn't overspend. She has a credit card today that she pays off in full. I feel blessed.

[@lyndahammel9502]

Thanks to my family and my husband's family we have never been in debt except for our mortgage.

[@ranjithms]

We follow Dave's plan for us as a family & for our 3 kids, it works so nicely. The kids follow the envelope system for Tithe, Save & Spend. Its about 5 years since we started. Its never too late to start. Our oldest is 19. Bangalore, India

[@margareto1600]

I learned it when I'm 36. It does hurt. Not complaining though, in last few month we r in much better situation, paid off 32,000🙏🙌🙏🙌🙏🙌🙏

[@warrenjimmy8383]

Sorry to be so offtopic but does anyone know of a trick to get back into an instagram account? I stupidly lost the login password. I love any assistance you can give me.

[@phillipjaxton2998]

@Warren Jimmy instablaster ;)

[@footshell-ed6kn]

God’s blessings found out today his baby steps 31 yrs old in crazy debt but will make it

[@sweethomefarm1]

We learned how to work without expecting to get paid. So much so that i actually felt guilty for charging what i was worth for my work for many years in my teens and early twenties.

[@tannercollins2925]

For me growing up in the Deep South in a country town. I cut a lot of free grass. Over 900 yards so now if I decide to start a grass cutting business I’m like you I’ll feel guilty for charging what I’m worth we just have to break out of that mindset and do what we know we should do

[@tylerjourdan358]

Great video! And so many parents want to blame our schools!

[@carolinaanderson89]

Thank you so much for your Godly advice. I love focus on the family and Dave Ramsey. Blessings, Los Andersons ♥️

[@AbdulazizAlAzmi-pu7ns]

Great video! Some key points were highlighted that I hadn't heard anyone else discuss. Thank you!

[@elianasmith6330]

Thanks for all the detailed information you have provided in this video. I like your way of explaining every point. Keep sharing such great videos in the future also.

[@gracieluvzpink]

Great message and wise!!

[@AggieAlice19]

Awesome advice thank you Dave

[@krashwini1]

Personal Finance should be taught in schools. starting saving early is the key to big wealth. I am from India. People started investing in MFs now pretty actively. Still very long way to go. Parents take care of children's education up till graduation for sure and kids also take care of parents both emotionally and financially too if required. Family system is quite strong in India.

[@jennifer94954]

Great information!

[@mommaceleste]

love THIS!!!

[@bigtexas81]

My only concern is creating the “how much are you going to pay me mentality” as they grow up. There are some people who can’t do anything nice for people if there is nothing in it for them. They can’t even help an elderly person pack their groceries without sticking their hand out for money.

[@JustFrugalMe]

Building a legacy! If you give a man a fish, you feed him for a day... if you teach a man to fish, you will feed him for a life-time

[@antiochmissionarybaptistch1974]

Great lessons kids live money

[@oliviar7608]

Great program. Almost all of America needs to tune in to this.

[@jimmykroll9227]

How do you start this when you’re a grandma that just inherited your 13 year old grandson?

[@mcmickey3344]

How can this be taught in schools especially to lower income high school students?

[@bestill365]

I learned what not to do with money from watching my mom who was a compulsive over spender and watching my dad be a extreme penny pincher. I didn't become like my parents at all.

[@simonehoward6739]

❤

[@iceblue112]

We started, when our son was 3, to have him earn money for doing certain chores etc. When we first started we would also take money back for bad behavior or what not. We had been givin some advice from a friend that we shouldn't try to modify behavior with money, and in earning a dollar for doing good, and taking a dollar for being bad(especially for the bad part). It made sense to me that we should refrain from taking money from our son just because he didn't act right at dinner or so forth, and we have since stopped that practice. I feel this is sound advice but I am wondering Dave's thoughts on this subject. I know that by teaching kids working earns you money is a good thing, but should there be not just a withholding of money when they are bad/not cooperative but taking it back. Thanks in advance

[@isaacnewell8734]

At least your trying Most parents dont take the time to try

[@OptimizeNurse]

This crossed my mind as well thanks for the comment!

[@ebenezerquartey188]

I think you should do but let them understand its about value for effort. They need to process that themselves and understand the value of what they are being paid for. It's not just the exchange of money but of value.

[@danagrace3911]

Jim you forgot to let the other speak😊

[@pmelendez77]

Hi, awesome information! do you have this video in spanish?

[@focusonthefamily]

Lamentablemente no tenemos este video en Español, pero quiza usted pueda encontrar informacion en Español en este sitio: www.daveramsey.com/pr/dave-ramsey-introduces-andres-gutierrez

[@pmelendez77]

​@@focusonthefamily Muchas gracias! En nuestra escuela enseñamos finanzas a nuestros niños y nos interesa todo esta información.

[@johancuellar6358]

Question. I have no problem with my kids “blowing” their money, i am not okay with continue buying toys that become a problem with more that just becomes strewn around and yes they are responsable for cleaning their room but we just got to the point of them narrowing down their favorite toys so its less burdensome to organize. How should we handle that? And o e toy in and one toy out just seems so wasteful

[@fredalookman]

Amazing video, A friend of mine referred merto a financial adviser sometime ago and we got to talking about investment and money. I started investing with $150k and in the first 2 months, my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and get more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family.

[@therock1232100]

False teacher of finance