Smart Money, Smart Kids: Episode 52

Here are three scenarios I heard within the past week (all from good, intelligent people who I know and love):

(1) An 18-year-old boy told his sisters that he planned to charge whatever he wanted to his credit card…because if you end up not being able to pay the bill, you just declare bankruptcy and start all over, and it’s not that big of a deal.

(2) A 20-year-old girl received her first credit card statement, and she saw that the “minimum payment” was actually quite low, so she paid that instead of the full bill. Then when the following month’s bill arrived with something called interest on it, she called the credit card company to ask them what that was all about.

(3) A 14-year-old said to her friends, “I don’t even see the point in going to college. I’m just going to live with my parents forever anyway.”

I don’t know about you, but these above scenarios–all true–are concerning to me. I don’t think that we, as a society, are doing a good enough job teaching our children how to be smart with their money. I know that I, personally, had a lot to learn once I began managing my household, and there are still a lot of things I want to better understand.

No one specifically wants to raise a child who is clueless about money, but if the deliberate mothers of the world don’t take the time to learn about, live, and teach wise money management, who is going to do it?

I am thrilled to announce today’s podcast with Rachel Ramsey Cruze–daughter of financial guru, Dave Ramsey. Together, they have written a book called Smart Money, Smart Kids, and in this interview (by April Perry), we will discuss exactly how deliberate mothers can get started raising the next generation to be wise with their financial stewardships.

 

 

 

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Power of Moms is all about moms helping other moms become the mothers and people they really want to be. We're a gathering place for deliberate mothers interested in growing through motherhood – not just going through motherhood. Our overall vision is to offer moms around the world the chance to “network” with other moms who share their same values, motivations, hopes and dreams. We aim to help moms take care of the person inside the mom, while taking care of their families.