Similar here. My parents busted their butts and shared all their mistakes with us, but we never grew up feeling poor or felt the stress I now know was there. Much respect.
I know that my father made an upper middle class income for over thirty years and he bragged about making some good real estate deals. And I know that the first dollar I ever saved was a dollar more than he ever saved in his life.
@@lance6250 Yes but he also taught me his bad habits that hinder my progress. It's really hard to overcome the things that got drilled into me as a child.
Interesting read. My father was the complete opposite. He spent half of his working life unemployed, a lot of it was due to having a broken heart. As a teenager, I grew up in a single parent home, and I often went to school without any lunch. However, that hunger that I had then fueled another hunger within me. I was determined not to have the same financial struggle in life as him. I'm 49, have a good job, and am saving and investing for retirement.
I never knew we as a family where upper middle class until I went to college. Everyone in the neighborhood was like us, everyone at school was like us I just assumed that was how the world was. College was an eye opener for me. The one thing my Mother instilled in all her children was to be kind to everyone. That has served me well in life.
Yes. My nephew took for granted what my sister did for him and provided for him (my sister and his father divorced and Dad liked to be "fun Dad" so my sister had to be the disciplinarian). He joined the Marines and in his letters, he has shown such a difference in maturity and appreciation for what my sister has provided for him. I think that meeting young men from all walks of life has shown him how easy he has had it. He graduates tomorrow, so proud of him!!
My step kids asked me when they were headed to college, their mom never wanted to tell them, I don't know why. Money shouldn't be a secret to kids. They asked me because they wanted to know how much it took to live like we did, not because they were interested in the actual dollar amount. I also showed them how to make a budget to live on.
My mother kept money and bills a secret from myself and my brother so when we moved out we had to learn how to budget on our own with zero information.
I'm not sure a parent has to disclose what they make, but I think it is wise to sit down with the kids and teach them about bills and saving/ investing
This is funny... As a teacher let me tell you... Your kids have a million ways of bragging about your income without knowing the number. One reason you might consider telling them (in high school maybe) is so they can compare the incomes of jobs to the life that creates. Most kids don't know what 50k means cause they can't compare.
I knew what my mom made because I've been helping her maintain her finance since high school. That's how I learned to manage my own finance. As long as your kids know that it's a private family matter then I don't see why it's a big deal
This is one of Dave’s best shows. We didn’t tell our kids what we made. I think they sensed it because they had what they needed. We have told them what our net worth is, now that they are in their 40’s. We gave each of them a copy of our trust and a spread sheet of our assets just in case the unforeseen happens to make it easier on them.
My parents started sharing financials with me around 17-18 and I’m glad they did. They didn’t make enough for me to brag about it so that wasn’t a worry, but it gave me a good understanding of the value of money for sure.
My parents never shared their finances with me or my sister and when I became an adult I didn't know Jack diddly squat about real world finances. I think you need to sit your kids down whether you make a lot or a little and explain things to them
@@AdultingShouldntSuck I knew what my mom made because I've been helping her maintain her finance since high school. That's how I learned to manage my own finance. As long as your kids know that it's a private family matter then I don't see why it's a big deal
For some reason, I never thought to ask what my parents made. I wasn't that interested. I had a great middle class upbringing. I always had name brand clothing. I did find out later when they put me in private high school how tight the budget could get. They gave me one of their old cars to drive and I decided to buy my own with their support. They are the absolute best!!
I have always known. They openly shared. It was a teachable moment on how to balance a check book and pay bills. I definitely learned from their example.
I was blessed with parents that were very open about what they made encouraged me to never work a 9 to 5. I am very fortunate to have landed a great sales job where I work my own schedule and have done very well. I am very open with my three teenagers. Every month When my commission report releases i share my success with them and we talk about budgeting and saving. I show them where each dollar will go. I brag to them about not having debt. I show them how we are paying off our house as fast as we can. I teach them the Ramsey principal at every teaching moment. I want my kids to be prepared financially more than I was and more than my parents were. I am proud of the money I make and I enjoy sharing that with my wife and kids. My kids are very hard workers have no sense Of entitlement.
When our youngest daughter used to ask that question I would answer, "enough." Now she works in human resources at my husband's company, so she knows everything down to bonuses etc. But like Dave, our girls never knew the dollar amount growing up.
My parents business at times struggled and my mom told me this as a kid at times so I ended up worrying about money at times. Made me a person that worried about spending money even when I'm doing great financially. But we still went to private school and had a pretty comfortable life as a kid so I knew overall we were solid middle class to upper class.
My Mom showed me my Dad's paycheck after taxes, it was $432 when I was 14 years old. $432 for every week! Never had anything new, except clothes/shoes for school, and you bet we were expected to take care of them. Thrift stores, community food pantry, but as kids we did not see any different, because everyone around us was doing it. When I saw that paycheck, I knew I had to make my goal to be better and do better. Thank God for wonderful parents and my debt free start to life.
I think they should absolutely know before college. When I went to college having a decent idea of what my dad made was super useful. Let me know what kind of job I had to look for so that I could have a similar lifestyle to what my parents have.
There is no way you want to college. "I think they should absolutely know before college. When I attended college, having a decent idea of what my dad made, was super useful. It allowed me to find a job that would give me a similar lifestyle as my parents."
meh. I don't think it's that important. There are plenty of salary calculators online which can give you a general idea of what a particular profession makes. Besides, not too many kids follow in their parents' footsteps anymore when it comes to career choice.
@@tcgtpl the point isn’t to do what your parents do, it’s to know about how much they make so that you know how much you’d have to make to have a similar lifestyle to what your grew up with. Kids going to college don’t have a really good idea of how much they need to make with mortgages, insurance, utilities, etc.
Here's the only issue with telling your children or even teenage child your income. They may tend to feel entitled to that amount of income when they eventually get a job. They shouldn't worry about their parents income. Sharing a budget with them would be way more beneficial. Living within your means is more practical than living within someone else's means.
Explaining bills/expenses & investments is great life lesson & advice. Talking about your personal income really is irrelevant. There are generalized income scales which you can find easily online if someone needs an idea on where they should focus their lives for a career.
Y’all lucky, I grew up with a single mother and she painfully let me know she had a 900$ income every month since I was like 12 and I think that’s one of the reasons/motivation for me to be rich
That's so wrong. Putting that on a kid is pointless and just makes them worry. At least that was my experience growing up. My mother never missed an opportunity to tell me how much we didn't have!
@@mmc9828 yeah I agree but there is people in the world that would never admit to their mistakes, and instead of changing their self or their behaviors, they like to blame it on someone else or use excuses when caught.
12 or 13. Old enough to keep it to themselves. My kid needed an education on how much it takes to live the life they were taking for granted and complaining about.
LOL… Your truck costs 10 digits! Well, I don’t feel rich in my truck. My truck costed me four digits and the first digit was below the number five. More scratches than a guy picking blackberries in a bathing suit, and no AC... But it hauls all my landscaping supplies (rocks, boulders, sand, composted manure), and it gets me into the woods on my camping trips with my boys! And I paid for it with cash up front! Still, someday, I hope to get a convertible like a Sunbeam convertible, for my wife and to go on road trips. Preferably without scratches!
@@kdonor true. I knew that but my wording was wrong…. Plus, who want s a truck that cost… uh… $1,000,000,000???? It’d have to come with its own country!!! Like… maybe Dubai!
The only way I knew how much my parents made was when my husband and I passed them in our 20’s. Narcissists hate it when you become successful in life, to the point that they throw it in your face that the only reason you “have it better” is because they suffered and sacrificed for you. Truth is we just chose a different career path and keep an actual budget.
I experienced both. My mother hated it and kept asking for money to the point we don’t speak anymore. My father was proud. I should also note that they’re not together.
I know how much each of my family member makes since I do their taxes (I’m a CPA). With that said, I also know how much each of them put in retirement and savings. And yes they get unsolicited advice from me 😂😂😂. I talk about finances openly in general. My daughter is still a baby, and I really don’t want her to feel entitled of anything. I won’t even tell her that she has a college fund so that she pushes to get a scholarship like I did. I will teach her how I budget the finances and how much it costs to live the way we live so that she can decide her career path.
When they were children we didn't think they needed to know, but we didn't hide costs either. Now that we're old and may need them to administer our estates I send full financial statements each year.
Maybe not share the income but let them know how much insurance, school, housing, vacation etc cost (as well as about taxes) so kids can understand what kind of money they will need. They can vaguely understand your income
Great applicable advice for me! My kids love asking extra questions. To them a dollar is what cleaning the basement all by themselves is worth. The four year old thinks I clean the basement 320 times to pay the electric bill lol.
My parents never told us what they earned, and they didn't teach us to budget either. They did teach us to live without things that weren't necessary (like designer label clothes) because that money was used for other things. Our family valued holidays/ travel - numerous classmates asked us if we were rich because we traveled. It's not just about a budget, but teachings values.
My parents never taught me about personal finance and it's crazy that they didn't teach us that because my mom is really good with money. Mom & Pop just never taught me anything about money until I was a lot older and I already had really bad money habits.
My 7th grader told me they used a quote from Dave Ramsey in his class today and I got so excited trying to guess what it was. I kept saying “Cash is king, debt is dumb?!?!” Is that it?!?! 🤣🤣 it wasn’t. But he heard many Dave-ism’s from me lol.
My Grandparents were relatively successful in business, but I never was able to learn just how successful (Mom doesn't know either), which is a shame because I've thought it would be a fun life goal to try to surpass it.
I just rememeber overhearing my father talking about his salary with some dude and from then on I knew. But where I come from your housing and some of your kids schooling is subsidized. He never taught me anything about personal finance though, had to binge watch videos on TH-cam and read books to gain the knowledge I have today. Which by calculating his spending behaviors, is far more expansive than his own financial knowledge.
Our kids are grown, and I don’t think they know how much money we make. And I’m conflicted in telling them our net worth. One child has a feeling of entitlement. She pays for as little as possible if we are around, and is often asking us to do things that will benefit her. If she knew what our net worth was, she would be calling us cheap for not doing more since we can afford it.
Never knew how much they made until I got older. Now that I work with my dad in the same spot, so we know each other’s salaries lol. But I grew up watching him budget every week. Checkbook out, receipts out. my parents blessed me with having what I needed and taught me to work for things I wanted.
My parents never told me how much they made. We never talked about finances. I had to learn on my own throughout life. If only I would've followed Dave at a younger age.
I’m 68 and never knew what my dad made. Mom was a stay at home mom with nine of us kids to look after. I don’t think my only kid knew what I made and even though I did quite well, we had a small home and usually used vehicles.
My mom was single immigrant mom. I knew we were poor, but now she’s very well off. It was after I had left the house though. 🤣 She always discussed money with me, maybe that’s why I’m so hyper focused on finances. I even work in Finance. Never thought of that link, until now.
only reason why i know is because my dad was cheap with babysitting when i was a toddler. So, i'd go to work with them (they're carpet cleaners) and I'd be the one coming up with the estimated price to the customers. Good times
I think it's important to tell kids at some point. They need a reference point of salary and what life looks like at that level. Like my son has a ballpark figure to shoot for and he realizes the harder we work, the more money we can earn therefore we have options to buy nice things and enjoy life. Back when I turned 18 I thought 50k was rich.......boy o boy that affects your college decisions negatively, thankfully I switched up and went into the tech field. Not talking about your money is an old head corporate America thing, talking about income takes power from the employer. No one is mad at what you make, it makes them made at who signs their checks.
My kids are 19 and 24 and still do not know how much I make. My son used to say we were poor. We are not poor but we are not wealthy either. How ever they are both hard workers now because they see how much I sacrificed myself so that we can live in a nice house in a nice neighborhood.
I could tell how my parents made based on the house and cars we lived in. Similar to Dave my dad didn’t tell us exact figures but when you’re being driven to school in 90k cars you know you gotta make at least 300k to buy it
Every time my parents have told me what they make, I always forget. Income only really mattered when I asked my parents for presents, though they'd often come back with "Sorry that's too expensive".
I kinda bragged in front of the kids but my wife quickly stopped me. She is smart, unfortunately she is not financially wise. Anyway, that kinda balances out. We are from India and now our household income is comparable to the one of developed countries like the US. I am thankful to Dave a lot for that.
High school. I think I told him, but I dont think he really understood. He graduates with a finance degree this year and asked. I gave him the gross and he was like what I want to know the take home. I told him.
that is a touchy subject. I would think they should know the expenses and the 'budget' but not income or savings until much older. Unless they are the beneficiaries... LOL.
I can't imagine my parents keeping problems from me. So much screaming over the poor farm economy growing up. My grandparents came over and berated my parents over the farm economy. We drove around all day Sunday afternoons just so they couldn't yell at us. I didn't even have a Gameboy then. It sucked.
My mother spent every dime my father ever made. She had a sickness and I knew that even as a little child. I'm an EDM And I'm feeling guilty over spending a few thousand for new kitchen cabinets. . It's terrible what addictions due to families
My parents let me know their income probably around high school. It didn't make me feel entitled as they had always made clear under what conditions they would help me through college or just in general. I tried to pay that forward in anyway I could, knowing not every family was in the same position. Later, when my husband and I did financial peace I was able to look back and see that most of the girls I was envious of for their clothes, house, etc were probably in the same income bracket as my parents, but possibly and probably living at the edge of their means.
My mom would only tell us that we were "Lower middle-class", which is enough knowledge. Although, I'd kind of like to know how much they have for retirement and senior care, because I believe I might have to help finance their care in the future.
I knew when I was late in high school because I helped some with the household accounting and then for sure when I applied for financial aid for college. I also knew how to keep my mouth shut. My stepson, who does not have a head to keep his mouth shut, will not know until I'm dead lol. So it's different in each case.
it must be hard to teach your kids how to appreciate your wealth while not taking it for granted. Many people unneccessarely struggle. Kids do not know what it means to struggle.
I learned in high school. My dad makes 200k a year and the only time I’d ever brag about it was to make the spoiled kids who always got everything they wanted jealous. Even though my dad makes great money I’ve still been working since I was 15. Now I’m 18 and about to move out
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I found out my Mom w2 13k in a year and I had nothing but respect for her. Never grew up without the basic needs.
Is she a street pharmacist?
@@callmeosho7792 That's income, not debt. Maybe she charged up some cards as well.
@@chad832 the question was how do you live on such a low income on paper. My annual expenses (post tax) amount to more than 13k
We knew we were broke due to the use of the “free” school lunch card. I hated using that thing.
Similar here. My parents busted their butts and shared all their mistakes with us, but we never grew up feeling poor or felt the stress I now know was there. Much respect.
I know that my father made an upper middle class income for over thirty years and he bragged about making some good real estate deals. And I know that the first dollar I ever saved was a dollar more than he ever saved in his life.
It’s good that you changed the program. Many follow poor examples.
@@philipgerry5228 Thanks. It's really hard to break free and you never really get away from bad childhood examples.
He inadvertently taught you a good lesson
@@lance6250 Yes but he also taught me his bad habits that hinder my progress. It's really hard to overcome the things that got drilled into me as a child.
Interesting read. My father was the complete opposite. He spent half of his working life unemployed, a lot of it was due to having a broken heart. As a teenager, I grew up in a single parent home, and I often went to school without any lunch. However, that hunger that I had then fueled another hunger within me. I was determined not to have the same financial struggle in life as him. I'm 49, have a good job, and am saving and investing for retirement.
I never knew we as a family where upper middle class until I went to college. Everyone in the neighborhood was like us, everyone at school was like us I just assumed that was how the world was. College was an eye opener for me. The one thing my Mother instilled in all her children was to be kind to everyone. That has served me well in life.
I’m 63 and JUST found out we were considered upper middle class. My dad worked so hard for what we had. I saved every penny I made.
Yes. My nephew took for granted what my sister did for him and provided for him (my sister and his father divorced and Dad liked to be "fun Dad" so my sister had to be the disciplinarian). He joined the Marines and in his letters, he has shown such a difference in maturity and appreciation for what my sister has provided for him. I think that meeting young men from all walks of life has shown him how easy he has had it. He graduates tomorrow, so proud of him!!
@@bunacat1 that's terrific. You should be proud of him sounds like a good man!
I wish I could at least be middle class. :(
My step kids asked me when they were headed to college, their mom never wanted to tell them, I don't know why. Money shouldn't be a secret to kids. They asked me because they wanted to know how much it took to live like we did, not because they were interested in the actual dollar amount. I also showed them how to make a budget to live on.
Raising step kids is difficult.
@@randymorrison1761 yea I would never do tht
My mother kept money and bills a secret from myself and my brother so when we moved out we had to learn how to budget on our own with zero information.
I'm not sure a parent has to disclose what they make, but I think it is wise to sit down with the kids and teach them about bills and saving/ investing
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This is funny... As a teacher let me tell you... Your kids have a million ways of bragging about your income without knowing the number. One reason you might consider telling them (in high school maybe) is so they can compare the incomes of jobs to the life that creates. Most kids don't know what 50k means cause they can't compare.
You make a great point about comparing incomes for potential future career choices. 🤷🏼♂️
Oh I bet you have to hear a lot of annoying nonsense like
'do you know who my dad is'
It's a lot more subtle than that, but usually is as simple as how your kid gets to school or something like that
Or the shoes/ clothes they wear.
@@ladypink3473, little do they know that shoes and clothes typically represent debt instead of income!
Love the Dave and John duo. They are always in sync.
Oh yeah they are
As a kid, I don’t remember ever being expressly told what my parents made, but they never hid it from me. I think that was a good way of doing it.
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I knew what my mom made because I've been helping her maintain her finance since high school. That's how I learned to manage my own finance. As long as your kids know that it's a private family matter then I don't see why it's a big deal
We were taught to never talk about money, religion or politics. The USA would be in better shape today if we still abided by that old rule.
If you've applied for financial aid for college, you know how much your parents make
True
My parents wouldn’t let me see that section lol. I had to leave the room when my dad filled it in
My father refused to fill it out said he didn't believe in it. Very odd since he paid for, and supported, some other woman's children's education.
@Richard Parker Chill, did you click the the account he was tagging? It's a fake account
Well my sister applied for it and my dad makes $150k but my parents are divorced so that’s why she had to apply
This is one of Dave’s best shows. We didn’t tell our kids what we made. I think they sensed it because they had what they needed. We have told them what our net worth is, now that they are in their 40’s. We gave each of them a copy of our trust and a spread sheet of our assets just in case the unforeseen happens to make it easier on them.
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"There is stress in the air, it is not you, in fact you're the best part of this." Aw jeez man, right in the feels!
My parents started sharing financials with me around 17-18 and I’m glad they did. They didn’t make enough for me to brag about it so that wasn’t a worry, but it gave me a good understanding of the value of money for sure.
I'm 26 and I still don't know what my parents make. All I know is I make more than my mom
Same
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@@coinbureau1975 no u
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In Sweden its public information, so you can check anybodys salary. ¯\_(ツ)_/¯
Talking about money with my parents has prepared me more than school ever could. Some of the most valuable lessons are when you get real
I emphasize to my kids that a person's net worth is far more important than what they earn.
exactly a lot of big hats and no cattle folks
@@billygnosis6976 That is one of my favorite cliches.
My Parents told me what the plan was if something happened to then. But always stated it's not how much money you make it's what you do with it.
My parents never shared their finances with me or my sister and when I became an adult I didn't know Jack diddly squat about real world finances.
I think you need to sit your kids down whether you make a lot or a little and explain things to them
I think your experience is how most of us grew up. I wish kids learned more about real world finances at home or in school.
@@AdultingShouldntSuck I knew what my mom made because I've been helping her maintain her finance since high school. That's how I learned to manage my own finance. As long as your kids know that it's a private family matter then I don't see why it's a big deal
Absolutely
For some reason, I never thought to ask what my parents made. I wasn't that interested. I had a great middle class upbringing. I always had name brand clothing. I did find out later when they put me in private high school how tight the budget could get. They gave me one of their old cars to drive and I decided to buy my own with their support. They are the absolute best!!
I have always known. They openly shared. It was a teachable moment on how to balance a check book and pay bills. I definitely learned from their example.
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I'm 40 and I still don't know my parents salaries! My Dad is retired, and my Mom is about to retire.
@@forexdinni7838 one sec
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@@coinbureau1975 calling
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@@goletest I pressed the three dots. What do I do next?
Tell them as soon as they can understand. They don’t need to be sheltered from money.
SPAMMER!
I was blessed with parents that were very open about what they made encouraged me to never work a 9 to 5. I am very fortunate to have landed a great sales job where I work my own schedule and have done very well. I am very open with my three teenagers. Every month When my commission report releases i share my success with them and we talk about budgeting and saving. I show them where each dollar will go. I brag to them about not having debt. I show them how we are paying off our house as fast as we can. I teach them the Ramsey principal at every teaching moment. I want my kids to be prepared financially more than I was and more than my parents were. I am proud of the money I make and I enjoy sharing that with my wife and kids. My kids are very hard workers have no sense Of entitlement.
When our youngest daughter used to ask that question I would answer, "enough."
Now she works in human resources at my husband's company, so she knows everything down to bonuses etc.
But like Dave, our girls never knew the dollar amount growing up.
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My parents business at times struggled and my mom told me this as a kid at times so I ended up worrying about money at times. Made me a person that worried about spending money even when I'm doing great financially. But we still went to private school and had a pretty comfortable life as a kid so I knew overall we were solid middle class to upper class.
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My Mom showed me my Dad's paycheck after taxes, it was $432 when I was 14 years old. $432 for every week! Never had anything new, except clothes/shoes for school, and you bet we were expected to take care of them. Thrift stores, community food pantry, but as kids we did not see any different, because everyone around us was doing it. When I saw that paycheck, I knew I had to make my goal to be better and do better. Thank God for wonderful parents and my debt free start to life.
I think they should absolutely know before college. When I went to college having a decent idea of what my dad made was super useful. Let me know what kind of job I had to look for so that I could have a similar lifestyle to what my parents have.
There is no way you want to college.
"I think they should absolutely know before college. When I attended college, having a decent idea of what my dad made, was super useful. It allowed me to find a job that would give me a similar lifestyle as my parents."
@@wewhoareabouttodiesaluteyo9303 Also the irony of "There is no way you want to college." while nitpicking my grammar....
meh. I don't think it's that important. There are plenty of salary calculators online which can give you a general idea of what a particular profession makes. Besides, not too many kids follow in their parents' footsteps anymore when it comes to career choice.
@@tcgtpl the point isn’t to do what your parents do, it’s to know about how much they make so that you know how much you’d have to make to have a similar lifestyle to what your grew up with.
Kids going to college don’t have a really good idea of how much they need to make with mortgages, insurance, utilities, etc.
This and working a minimum wage job in HS. It teaches you the value of education
I never asked my parents what they made. We always had a roof, electricity, clothes and food on the table.
Fast forward...my kids never asked either
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Here's the only issue with telling your children or even teenage child your income.
They may tend to feel entitled to that amount of income when they eventually get a job.
They shouldn't worry about their parents income.
Sharing a budget with them would be way more beneficial.
Living within your means is more practical than living within someone else's means.
I knew how much my parents made at 12 years old. I think they should know so they understand what the family can and can’t afford.
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@@goletest good idea
Love the daniel story. Anytime we said "my car" in high school, my dad would jokingly respond, "oh, my car im letting you drive?"
I really appreciate the idea of explaining the bills as they are older. That's just great teaching!!!
@@forexdinni7838 im trying to call, no answer.
Explaining bills/expenses & investments is great life lesson & advice. Talking about your personal income really is irrelevant. There are generalized income scales which you can find easily online if someone needs an idea on where they should focus their lives for a career.
W
@@Irishjay-gu5pb Report Ramsey Scammer by pressing three dots.
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Y’all lucky, I grew up with a single mother and she painfully let me know she had a 900$ income every month since I was like 12 and I think that’s one of the reasons/motivation for me to be rich
$900! Heck, Mother made $545 as a supervisor!
@@monabiehl6213 when was this? Because I’m talking 2010-after
That's so wrong. Putting that on a kid is pointless and just makes them worry. At least that was my experience growing up. My mother never missed an opportunity to tell me how much we didn't have!
@@mmc9828 yeah I agree but there is people in the world that would never admit to their mistakes, and instead of changing their self or their behaviors, they like to blame it on someone else or use excuses when caught.
This is fascinating to me. Growing up, it was never about what you make but rather what did you keep.
12 or 13. Old enough to keep it to themselves. My kid needed an education on how much it takes to live the life they were taking for granted and complaining about.
LOL… Your truck costs 10 digits! Well, I don’t feel rich in my truck. My truck costed me four digits and the first digit was below the number five.
More scratches than a guy picking blackberries in a bathing suit, and no AC...
But it hauls all my landscaping supplies (rocks, boulders, sand, composted manure), and it gets me into the woods on my camping trips with my boys!
And I paid for it with cash up front!
Still, someday, I hope to get a convertible like a Sunbeam convertible, for my wife and to go on road trips. Preferably without scratches!
He said a ten in front of the comma, not ten digits.
You don't have to be afraid to damage your truck and that peace of mind is valuable.
@@kdonor true. I knew that but my wording was wrong…. Plus, who want s a truck that cost… uh… $1,000,000,000???? It’d have to come with its own country!!! Like… maybe Dubai!
@@jerrystauffer2351 exactly… driving off paved roads through tight fitting dirt roads between trees… no concerns there…
The only way I knew how much my parents made was when my husband and I passed them in our 20’s. Narcissists hate it when you become successful in life, to the point that they throw it in your face that the only reason you “have it better” is because they suffered and sacrificed for you.
Truth is we just chose a different career path and keep an actual budget.
I experienced both. My mother hated it and kept asking for money to the point we don’t speak anymore. My father was proud.
I should also note that they’re not together.
There's a certain type of laugh only heard when a dad talks about their kid saying something funny. Make me want to have kids one day!
I’m making a plan WITH MOM. Gosh dang. So many values I agree with. I love Christ centered people. Thank you!
I know how much each of my family member makes since I do their taxes (I’m a CPA). With that said, I also know how much each of them put in retirement and savings. And yes they get unsolicited advice from me 😂😂😂.
I talk about finances openly in general. My daughter is still a baby, and I really don’t want her to feel entitled of anything. I won’t even tell her that she has a college fund so that she pushes to get a scholarship like I did. I will teach her how I budget the finances and how much it costs to live the way we live so that she can decide her career path.
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When they were children we didn't think they needed to know, but we didn't hide costs either. Now that we're old and may need them to administer our estates I send full financial statements each year.
Maybe not share the income but let them know how much insurance, school, housing, vacation etc cost (as well as about taxes) so kids can understand what kind of money they will need. They can vaguely understand your income
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Taxes and approximate bill amounts. I wish I knew that before I moved out. Had to ask my friends because my mother wouldn’t tell me.
W
Great applicable advice for me! My kids love asking extra questions. To them a dollar is what cleaning the basement all by themselves is worth. The four year old thinks I clean the basement 320 times to pay the electric bill lol.
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My parents never told us what they earned, and they didn't teach us to budget either. They did teach us to live without things that weren't necessary (like designer label clothes) because that money was used for other things. Our family valued holidays/ travel - numerous classmates asked us if we were rich because we traveled. It's not just about a budget, but teachings values.
Actually ... I never have found out and they never taught about money either. They never spoke about it at all aside from 'pay your bills'. 😕
The only teaching I had was save money and pay your bills. Never had the investment or management teachings
What a beautiful and insightful conversation...go vulnerability and wisdom shared.
Dave and John are great together.
My parents never taught me about personal finance and it's crazy that they didn't teach us that because my mom is really good with money. Mom & Pop just never taught me anything about money until I was a lot older and I already had really bad money habits.
I learned when I turned 18 and got into community college. They had to ask to see if we were eligible for any aid
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My 7th grader told me they used a quote from Dave Ramsey in his class today and I got so excited trying to guess what it was. I kept saying “Cash is king, debt is dumb?!?!” Is that it?!?! 🤣🤣 it wasn’t. But he heard many Dave-ism’s from me lol.
My Grandparents were relatively successful in business, but I never was able to learn just how successful (Mom doesn't know either), which is a shame because I've thought it would be a fun life goal to try to surpass it.
I just rememeber overhearing my father talking about his salary with some dude and from then on I knew. But where I come from your housing and some of your kids schooling is subsidized. He never taught me anything about personal finance though, had to binge watch videos on TH-cam and read books to gain the knowledge I have today. Which by calculating his spending behaviors, is far more expansive than his own financial knowledge.
When Dave says they were “doin’ ok” I think it’s a bit of an understatement. 🤣
Our kids are grown, and I don’t think they know how much money we make. And I’m conflicted in telling them our net worth. One child has a feeling of entitlement. She pays for as little as possible if we are around, and is often asking us to do things that will benefit her. If she knew what our net worth was, she would be calling us cheap for not doing more since we can afford it.
We as people are eager to share how much debt we have and fear sharing how much we make.
Never knew how much they made until I got older. Now that I work with my dad in the same spot, so we know each other’s salaries lol.
But I grew up watching him budget every week. Checkbook out, receipts out. my parents blessed me with having what I needed and taught me to work for things I wanted.
My parents never told me how much they made. We never talked about finances. I had to learn on my own throughout life. If only I would've followed Dave at a younger age.
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I’m 62 and never knew parents salary........and never asked.
early 30's, same here.
I’m 68 and never knew what my dad made. Mom was a stay at home mom with nine of us kids to look after. I don’t think my only kid knew what I made and even though I did quite well, we had a small home and usually used vehicles.
I never knew how much my parents made growing up. I still don’t know it and don’t want to. I like Dave’s idea about sharing expenses but not income.
My mom was single immigrant mom. I knew we were poor, but now she’s very well off. It was after I had left the house though. 🤣 She always discussed money with me, maybe that’s why I’m so hyper focused on finances. I even work in Finance. Never thought of that link, until now.
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Awesome awesome topic ... please consider expanding on it ...thanx
only reason why i know is because my dad was cheap with babysitting when i was a toddler. So, i'd go to work with them (they're carpet cleaners) and I'd be the one coming up with the estimated price to the customers. Good times
I think it's important to tell kids at some point. They need a reference point of salary and what life looks like at that level. Like my son has a ballpark figure to shoot for and he realizes the harder we work, the more money we can earn therefore we have options to buy nice things and enjoy life. Back when I turned 18 I thought 50k was rich.......boy o boy that affects your college decisions negatively, thankfully I switched up and went into the tech field. Not talking about your money is an old head corporate America thing, talking about income takes power from the employer. No one is mad at what you make, it makes them made at who signs their checks.
My kids are 19 and 24 and still do not know how much I make. My son used to say we were poor. We are not poor but we are not wealthy either. How ever they are both hard workers now because they see how much I sacrificed myself so that we can live in a nice house in a nice neighborhood.
I could tell how my parents made based on the house and cars we lived in. Similar to Dave my dad didn’t tell us exact figures but when you’re being driven to school in 90k cars you know you gotta make at least 300k to buy it
Every time my parents have told me what they make, I always forget.
Income only really mattered when I asked my parents for presents, though they'd often come back with "Sorry that's too expensive".
When you believe they have developed a respect and appreciation for money and hard work!
Growing up I never knew exactly how much my parents made. I just knew they both had well paying iobs and I had nice up bringing.
I kinda bragged in front of the kids but my wife quickly stopped me. She is smart, unfortunately she is not financially wise. Anyway, that kinda balances out. We are from India and now our household income is comparable to the one of developed countries like the US. I am thankful to Dave a lot for that.
High school. I think I told him, but I dont think he really understood.
He graduates with a finance degree this year and asked. I gave him the gross and he was like what I want to know the take home. I told him.
that is a touchy subject. I would think they should know the expenses and the 'budget' but not income or savings until much older. Unless they are the beneficiaries... LOL.
I love the focus brothers
Live within your means.
I'm 21 and my mom and dad still have not told me.
I've never known and I don't think I even want to know. Doesn't matter.
My parents told me ard 16 (upper middle class) I’ve never bragged bc knowing didn’t add or take anything away from my lifestyle
Don’t know why income is taboo.... kinda dumb. I don’t follow this rule.
@@thedaveramseyshow1426 bwahahahahahaha!!!!!!!!!! I love you for this comment!!!
W
Tell us what you make then
W
I can't imagine my parents keeping problems from me. So much screaming over the poor farm economy growing up. My grandparents came over and berated my parents over the farm economy. We drove around all day Sunday afternoons just so they couldn't yell at us. I didn't even have a Gameboy then. It sucked.
My mother spent every dime my father ever made. She had a sickness and I knew that even as a little child. I'm an EDM And I'm feeling guilty over spending a few thousand for new kitchen cabinets. . It's terrible what addictions due to families
Im with you 100%
That’s why it’s good to have the Dr on the show. A lot of money issues are mental health issues.
My parents let me know their income probably around high school. It didn't make me feel entitled as they had always made clear under what conditions they would help me through college or just in general.
I tried to pay that forward in anyway I could, knowing not every family was in the same position.
Later, when my husband and I did financial peace I was able to look back and see that most of the girls I was envious of for their clothes, house, etc were probably in the same income bracket as my parents, but possibly and probably living at the edge of their means.
I found out when I was filling out my FAFSA my senior year of high school.
Were you sad or happy
I was impressed when I seen my dads when I was doing my FASFA. He only has a GED and does really well.
I agree. Just teach them how to balance the books.
My mom would only tell us that we were "Lower middle-class", which is enough knowledge. Although, I'd kind of like to know how much they have for retirement and senior care, because I believe I might have to help finance their care in the future.
I found out when I filled out my fafsa, lotta respect.
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I do my girlfriends parents taxes for them, but I still don’t know what my parents make
Only when my parents bought their house with cash in CA coast , I knew my dad makes good income. They had simple cars, Honda and Toyota.
@C B They have to pay the property tax & maintenance of the house. It was not a cheap property, especially in CA coast.
I knew when I was late in high school because I helped some with the household accounting and then for sure when I applied for financial aid for college. I also knew how to keep my mouth shut. My stepson, who does not have a head to keep his mouth shut, will not know until I'm dead lol. So it's different in each case.
Real talk love this
I found out when I was 18 when I was applying for college. Had to file paperwork for the fafsa
it must be hard to teach your kids how to appreciate your wealth while not taking it for granted. Many people unneccessarely struggle. Kids do not know what it means to struggle.
This was hilarious. Favorite excerpt so far!
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I’m 29 and I still haven’t a clue about my parents income..not even a ballpark range.. 🤷🏽♀️🤷🏽♀️
Tjis is better than the annoying callers asking the same old questions. 🤣🤣🤣
Never
Don't think I'll ever tell my kids how little I make 😂
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Dave is very wise
Never. I still don’t know what they make and I don’t feel I need to.
Never. It's not their concern
I learned in high school. My dad makes 200k a year and the only time I’d ever brag about it was to make the spoiled kids who always got everything they wanted jealous. Even though my dad makes great money I’ve still been working since I was 15. Now I’m 18 and about to move out
You got to want to take care of your kids and love them
Lol.... my truck was a 4 digit truck when I bought it... and it still is