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The Water Cooler
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Teaching your kids financial responsibility
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<blockquote data-quote="$$$$$" data-source="post: 2774351" data-attributes="member: 3576"><p>I like the Dave Ramsey approach for personal finance and have been using it for a few years. I'm sure that people could legitimately argue that there are better ways, but I enjoy having no debt and feel I'm at low risk because I don't have to worry about making loan and credit card payments. If I lose my job tomorrow, that would obviously suck, but I could keep the lights on and feed the family for 6 months on my emergency fund. If I ever get tired of being debt free, I guess I could go borrow money. I understand that people use loans and credit to grow their business, so I'm not knocking anyone. It works for me, maybe not everybody. </p><p></p><p>I teach my boys the same concepts through Ramsey kids packs. They have books, chore charts, lessons, etc. My 7 yr old is learning that money comes from work and not from banks or Mom and Dad.</p></blockquote><p></p>
[QUOTE="$$$$$, post: 2774351, member: 3576"] I like the Dave Ramsey approach for personal finance and have been using it for a few years. I'm sure that people could legitimately argue that there are better ways, but I enjoy having no debt and feel I'm at low risk because I don't have to worry about making loan and credit card payments. If I lose my job tomorrow, that would obviously suck, but I could keep the lights on and feed the family for 6 months on my emergency fund. If I ever get tired of being debt free, I guess I could go borrow money. I understand that people use loans and credit to grow their business, so I'm not knocking anyone. It works for me, maybe not everybody. I teach my boys the same concepts through Ramsey kids packs. They have books, chore charts, lessons, etc. My 7 yr old is learning that money comes from work and not from banks or Mom and Dad. [/QUOTE]
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