Dave Ramsey Audio Archive- October 9th

This archive starts off with a woman talking to Dave about her 14 year old daughter who is going to make $3,000-5,000 per month for the next six months. as this is clearly more money than a 14 year old knows how to spend and save properly, the mother is concerned with the best way to save the money, and how to save for a car she will want in the future. I liked how he started off by talking about how you can't let the income of the job affect your work ethic. Whether you are 14 and mowing lawns or making $5,000 as a model, you have to keep up your work ethic and continue to learn people skills. Ramsey says he had his kids pay for half their cars, and since this woman's daughter is doing so well, he would have her pay for the whole car. This is good because it teaches responsible spending at a young age. This would also allow the kid to know how to save money to make financial goals for the future and not spend on things you want immediately. This is a very important this family needs to learn because she said that their family is barely making it month to month. Ramsey advises that because they will not be able to afford her college if she doesn't get a full scholarship. I also liked what Dave said about using the kids money to get prepared for the future. The four things you always want to teach kids with money are to work, save, give, and spending.