Dave Ramsey

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Glenn from North Carolina is calling in today because he wants to know what he can do to teach his kids the best money management possible. Glenn’s family is very blessed in that his kids are a part of the Native American Tribe thanks to his wife. Essentially the Tribe gives a trust fund to the children that they will not be able to touch until they are 18, and then it’s dispersed over time. Glenn has over 7 children, and if Glenn’s estimates are correct, they will all get $250,000 each. However, Glenn has noticed other kids that squander it and does not want that for his children.

Dave has worked with many tribes that have had this issue because money is not always a blessing. Dave equates it to growing up in a wealthy family but not earning them money. Dave tells Glenn he needs to warn the kids of the dangers that money can produce: Sloth, addiction, and misbehavior. Dave taught his kids at an early age that they are entitled to nothing. Being stern with them is the start of proper parenting.

Money is not the problem; Dave states it is how you react to it. The thing you can teach your kids with inheritance is that money is also a blessing. However, there is a tremendous responsibility with this gift. Instead of celebrating with it like you scored the game-winning touchdown, you need to be modest about it. Teaching kids to be responsible is the start of all of this.

Catch The Dave Ramsey Show weekdays from 1 to 3 pm on Money Talk 1010
Dave Ramsey is America’s trusted voice on money. 23 million get guidance from Dave’s radio show on Money Talk 1010, his podcasts, and videos. He’s a national best-selling author and has changed over 6 million lives with his guided money plan.

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