– When your kids are
born, they are so cute, but then they grow up and want money. So this episode is all about
teaching your kids about money. (upbeat music) Well, hey you guys! I’m so
excited about this episode, because it’s all about you, your kids, and, of course, money. That’s right, we’re going to
talk about my top tips on teaching your kids to win with money. I’m going to be having my
friend and teen expert, Anthony ONeal, on to help us
really break down the walls and connect with our kids. We’re also going to have a couple come on and tell their story about how they paid off $303,000 in debt. Yeah, that’s right. And what’s so inspiring is
how they so intentionally taught their kids along the way on what they were doing in their journey. It’s so great. And, at the end, I have
a little surprise for you that may or may not have
to do with April Fools, I’m just saying. But up next, this is
not an April Fools joke. No it is not, because my Contentment Journal is here. You guys, I am so excited about this. It’s going to be shipped
all across America, and you can get it. Oh, I really am pumped about this. I am so excited because, again, contentment is something
that we talk a lot about, and it’s a really, really
important foundation for you to have, and it’s really hard to be content in our world today. We constantly see what other people have, what other people are doing,
and what we’re lacking. So walking through a
journey of contentment is not always easy,
but it is so important. So I figured out, okay, if we can first learn to be grateful, it’s really important. That’s the first step. The second step is humility, and then the third step
naturally leads into contentment. So we’re going to spend
30 days on each of those. 30 plus 30 plus 30 equals
90, if you’re doing the math. That’s what it is; 90 days. What I love about it is
that it is a guided journal. So what you’re going to
do is you’re going to get some teaching throughout it, but it’s going to be these guided prompts. So on day 27, it could
be whatever day you want, you can be doing this in 2022, you can be doing this in 2019. Whenever you want to do it,
you get to write in the date, and then you get these prompts in all of these areas of your life. Everything from money, your relationships, your time, your goals; the things that are really
easy to be discontent on, we hit it right on, and
I guide you through it. So you’re going to go
from being discontent to contentment. So get your copy, or start reading for free by clicking the link in the show notes. The Contentment Journal, with gold foil. It’s so great, really excited about it. All right, moving on now. Again, back to the subject on teaching your kids about money. Now this this is something
that a lot of parents have questions about. They’re always like, “How do
I teach my kids about money?” So here are a couple of
things to keep in mind. Number one, you have to realize, it is your responsibility to
teach your kids about money. It’s not the school’s responsibility. It’s not the church’s responsibility. It’s not TV’s responsibility. No, it is your responsibility. You really do. You have to take that weight on yourself, that it is up to you. A lot of parents are like, “Well who am I to teach
my kids about money? “We’re living paycheck to paycheck. “We’re deeply in debt. “We’ve been terrible with money. “Who am I to teach my kids about money?” Who are you? You are their parents, yes. I don’t care what you’ve done in the past. That does not have to dictate your future, and it does not have to
dictate your kids’ future. I mean, I look at my parents’ story, and they filed for bankruptcy
the year I was born. Thank God, Dave and Sharon
Ramsey weren’t like, “Well, who are we to teach
people about money? “We’re terrible at it. “I guess that’s just who we are.” No! They didn’t! And because of that, my life has changed and
so many other people’s. So you do, you have to
take that responsibility. Now, more is caught than taught, so your kids are watching you. So parents, get your stuff together. That’s going to be important, but take it on. Don’t let those past
mistakes dictate your future or stop you from teaching your kids. Also, keep all things,
when it comes to money, age-appropriate. Okay? Working and learning that
your kids need to work, and that they get paid for chores, that they’re not just given an allowance, that they are on commission
is really important. But you’re not going to
make your 4-year-old go mow the lawn, okay? We’re going to keep it
very age-appropriate. You’re going to teach them
to give, save and spend. Again, all those things. I think it’s great for
kids to save up for things, even a car when they turn 16 years old. I think that’s a great thing
they can be saving for. But you may not want to start
that when they’re 4. And last, but not least, I
love Andy Andrews’ quote. He always says, “You’re not
just trying to raise good kids; “you’re trying to raise
kids to be good adults.” I love that, because what that shows, is it’s not just the tactical things that you’re teaching your kids, but it’s also the character issues. It’s all of it. So what you have to understand is, some parents think, “Oh, I don’t
want to make my kids give. “I don’t want to make my
kids do certain things.” I’m like, “Well you make
them brush their teeth. “You make them do their homework.” Why? Because that’s going to allow them to do better in life later on, and the same is true with money. So look at it as not just
being good in the present. Look at it that who they become
is what you’re going for. Think about the future. My parents did this a lot with me. (soothing piano music) I remember being just a young 14-year-old, my sister, 16, and my dad came
into the living room one day and he sat us down, and he said, “Girls, I want you to learn
how to run a business.” We looked at him and
thought—you’re crazy. We don’t say that to him because, well, things would happen. We just thought in our heads, both of us, like— What? You want us to run a business? He was like, “All right,
you guys think about “a business idea. “Tomorrow we’ll regroup, “and I want you to just tell
me what you’re thinking.” And he left, and we were like, “What?” So we grew up in a household
that if the parent said it, the kids did it kind of thing, so we were like, “Okay,
what is he doing here?” Denise and I came up with a business idea. Hold on to your seats. I know you’re very curious about it, and I’ll be telling you in just a second. But we went in and we had
to present our idea to him, and then he helped us make P&L sheets, and understand profit,
and loss, and margin and all the things. So we started our very own business; my sister and I did that year. A little bit unhappy about it, but we did. We came up with an idea
that in his office building, there were different
kitchens on the levels. They had two levels at the
time of this office building. There were these kitchens, and vending machines outside the kitchen. The vending machines were way overpriced. We were like, “Well what if
we put snacks on the counter, “drinks in the refrigerator? “We charge less than our competitors’ prices.” aka the vending machines. and we made some money. People bought snacks from us. So we started a snack business, and we called it Your Integrity Snacks, because you had to pay for it. So, Denise and I started it, so we went and got into her Mustang. Yes, Denise drove a hunter green Mustang with a lay around the rearview mirror, and there we went, off to Costco, loading up the flatbed
with cases of Cokes and Diet Cokes, and Dr
Peppers, and Snickers bars, and Reese’s, and bags of chips. People are very healthy
at my dad’s office, obviously, at the time. But all this stuff, all
these things, did it, and we came back. I remember the first week and we opened up those little plastic jars, and we were like, “My gosh,
there’s money in there. “People actually bought from us.” It was actually pretty amazing. And so we’d take the
money, we’d sort it out, we’d go buy more inventory,
and the cycle kept going. About six months in, we did realize that we were short some money. More snacks and drinks were gone than money in the little plastic jar. So, true story, Dad actually had to send a company-wide email to remind everyone to pay for their snacks, because some people were
not having integrity. And so they were taking our
snacks, but they all paid. Then we actually had a major
surplus the next month. So I think they felt bad and
gave us some extra money. But I remember this little business we had. I remember the first
big investment we made. We were so proud of ourselves. We bought one of those
electric coin sorters, so instead of manually putting the coins in the little wrappers, which we had done for about four months, we ordered, I think off of a 1-800 number off a TV commercial, that
you pour all the coins in, and it sorts it all! You could just go to
bank and bring the rolls, and it was so easy. But, to this day, does it
live on about 15 years later? Yes it does, for real. Now we have five different
buildings here in Nashville. Everyone’s spread across
all these campuses, but yes, in all of the kitchens, other people have taken
on Your Integrity Snacks, and what’s so fun is
not only does the legacy of Your Integrity Snacks live on, but these people legitimately
are making money. They’re putting it towards their debt. They’re using it to go on family trips. Like, it’s awesome. I feel like I totally
should have franchised, and I could be getting
a cut all these years, but that’s another story. Yeah, so we did this whole thing, and I’m telling you we were not
happy about it all the time, but I really am thankful
Mom and Dad did that. It’s a little extreme. I’m not telling you that you
have to make your teenagers open up their own business, but there is something
about empowering your kids and showing them that they can do things they may not think is possible. And there is, there’s this sense of pride when you do something and you carry those big cases of Cokes up the stairs, and your little 14-year-old arms are shaking, but then you take that
money out of the jar. There’s something about it,
that you just feel good about. So seriously, press in. Your kids can do more than
what you possibly think they can do, and when they
start to learn responsibility, it’s an amazing thing
how that trickles then to other areas of their life. All right, hope you enjoyed a
little Your Integrity Snacks. I should have copyrighted that title, but you can take it for your kids if they want to use it, totally fine. All right, coming up next is
fellow Ramsey Personality and expert when it comes
to talking to teenagers, Anthony Oneal. (sighs) When I think about teenagers, that’s the one type of parenting that really intimidates me, so if that’s you too, Anthony is about to put us all at ease. He’s going to tell us the four things that kids want their parents to know, so you don’t want to miss it. Family is one of the most
important parts of my life, and making sure everyone is taken care of is a top priority. That includes more than
just meal planning, entertaining the kids, and taking care of all the day-to-day needs. That’s why I recommend
having life insurance. Now, when you’re shopping for it, you might wonder, “Should
I get term life insurance, or whole life insurance?” I always recommend term insurance. It’s going to save you tons of money that you can put towards
paying off your debt, and funding your emergency fund. For a 30-year-old male, a 20-year, $250,000 policy
would cost just $15 a month for term life. However, the same policy for whole life would be $190 per month. That is a huge difference. Winston and I use Zander Insurance. They do all the work for you by finding you the best
prices and options, customized to your needs. To learn more, call Zander today or go to Zander.com, because that’s who we trust
to take care of our family. (soothing electronic music) Hey Anthony.
– Rachel. – Thanks for coming on. – Thank you for having me on. It’s about time. – You’re here.
– I know. – How does it feel? – It’s great y’all, this is my first time on the Rachel Cruze show. This is better than Fox and Friends, CNN; I’m with Rachel. – This is legit. This is legit. Okay, Anthony, you are brilliant when it comes to talking
to parents about teenagers, because you worked with
teenagers for years and years. So you have four really great points when it comes to things
that parents need to know what their teens are thinking. So walk us through that. – Well I wouldn’t say I’m brilliant but I would definitely say I’m passionate about helping kids and
teenagers connect better to their parents, because I believe those
two have to be connected, so that the teen can have a better future. One of the first things that I’m seeing is that teens are saying, “You know what, “our issues are real, and
where we are right now “may not be the same from
when you were a kid.” So what they’re simply saying is, “Hey, growing up in school
today, in the year 2019, is not the same as 10 years ago.” They’re saying, “Times are different, “and so just understand where I am “and understand what I’m going through “and just value that and help
me go through it right now.” – That’s so good. Okay, what’s point number two? – Point number two is the kids are saying, “We’re listening, even if I don’t show it, “so even if you think I’m
not listening, Mom and Dad, I am listening.” This generation is a
little bit more different on how they express themselves. They tend to keep things on the inside, so just be there. And just understand, and ask them, “Did you hear me?”
“Yes ma’am.” “Did you hear me?”
“Yes sir.” “Okay.” And then move on, just ask. – Unless they roll their eyes. I may or may not have done
that a few times, Dave Ramsey, and that was not good. – Yeah, this is the Rachel Cruze show. – So respect, respect is still in play, but it may not look very enthusiastic, as they’re listening. – I’m still scared to roll my eyes
at my mamma now. – That’s right. (laughs) Okay, what’s next? – The next one is,
believe it or not, Rachel, kids want to be good kids. I’ve never met a kid that says, “I want to be a bad kid. “I want to be a horrible kid.” No, I just believe that
they make bad decisions. But I think here, their definition of ‘good’ may be a different
definition than parents. I think parents need to
come together and say, “Hey son, I know you have the right heart. “Let me teach you how to be this. “Let me show you how to
become a good young man “or a good young lady.” “Right now, you’re a young kid.” – That’s good. – [Anthony] This is good stuff. – All right, last but not least. – This is one I really agree with Rachel. Let them be kids. Let them be 10 years old. Let them be 15. Let them be 18. Let them be young kids. I think, oftentimes, parents have, “You’re going to be this doctor,
lawyer, this preacher, this and that.” No. Right now, he’s 11. Let him enjoy playing soccer. – Yeah, that’s so good, and I love all those points, because what it deals
with is the character of who the kid is, and the parents, and the teenagers aligning, which is hard. It’s a hard season of life, so you’re great at navigating that, so I appreciate it. – Appreciate you. – I went into our Facebook community, and we got some questions, so I wanted to dive into
three of those questions. Lauren asks, “How do I
encourage our commission system “when Nana pays 10 times what we do? “The kids don’t want to do chores at home “when they know they
can make more elsewhere. “We tried talking to
Nana about it, but she’s “taken the act-now, ask-forgiveness-later approach. “All of our requests seem to
have fallen on deaf ears.” Well, those are smart kids. They know then can make
more making bed at Nana’s than they can at your house. (laughs) This is a tough one, because
I feel like when parents or extended family try to help out, but they trump, almost,
what the parent is doing, either with the amount of money, or maybe they’re totally negating the whole commission system, in general, it can be hard. So I think that the fact that you guys have had conversations is really, really important. I think that’s great,
but what you could do is say, “Okay, the money that
you’re going to earn at Nana’s, “you’re going to be making more, “so we’re going to be saving up
for a more expensive toy, “and that money goes into
this little savings account. So we’re going to expect more from you, because you’re making more here. I don’t know. That’s a hard one to navigate. Do you have any thoughts? – Something like this is happening with my nephews, with my sister’s son. One thing I love that I believe, and my sister did, they went and had a
conversation with Nana. They said, “Hey mother, this is what we’re “trying to do at our house. “Can you help us with this over here, “because it’s causing an issue.” – Have the same expectations. – Have the same expectations, yeah. – [Rachel] Jennifer asks, “I need to know “how to best help my teen
son with contentment, “especially when it comes to vehicles.” – Oh, that’s a tough one. If you are a parent and you are driving a high-end car, and
everything about your life is very high-end, one thing that you say,
Rachel, which I love, is, “More is caught than taught.” So if your kids see
this high-end lifestyle, then they’re naturally going
to want a high-end car. The very first thing is
probably self-evaluate what are you and your
husband, or you or your wife presenting to your children? After that too, explain to them, “You’re still young, and so you don’t need “a big expensive car. “You’re going to get right
in this price range.” And I always recommend
every high school student spends no less than $1,000, because we want a quality
car that’s going to run, and no more than $3,500, and that they make 50% of that, and their parents match that 50%. Even if you want to get a $10,000 car, tell them, “Hey, not right now.” but have the conversation. Be honest. Be understanding. Be loving, but tell them up front,
“We’re not doing it.” – I think that’s a great point, especially if you’re driving a nicer car, you can’t just be absolutely
shocked and floored that your child wants a nicer car too. I never really thought about that, but yes, that’s a great point. So good. All right. Lisa asks, “What do you do
when you’re in Baby Step 2 “and you’ll be there
another 3–4 years, “but you have two kids going to college “in 4–5 years? “How do we save up in time for that? “They already plan on doing two years “of community college” – Great job. “first, but are hoping
to get some funding. “Obviously, we can’t
depend on that, though.” – You know, I just love this as a parent. They’re already thinking
about their children’s future. I love it. So just follow the Baby Steps. Get out of debt. Get your 3–6 months set aside, and then start focusing
on your retirement. Then start setting aside for college. Once you get out of that, I would definitely say, if they’re younger, then look into an ESA or 529 plan, and then, if they’re
already in school right now, check out my book, The
Graduate Survival Guide, and her book. – That’s right, we co-wrote it. – We co-wrote it. Pink together today. – All unified. – Then also, grants and scholarships. The key thing is, do not take out loans. – Anthony.
– Rachel. – I’m so glad you came over, seriously. – You’re amazing. – So fun, so fun. Guys, make sure and check out everything that Anthony is doing on
YouTube and Instagram, and you have a really fun
event with Meg Meeker, called SmartParent.
– I’m excited. – What cities are you guys going to be in? – We’re going to be in
Sacramento, California, and we’re going to be in Minneapolis. That’s going to be fun, in May. It’s just going to be absolutely amazing. Tickets are moving right now, so it’s going to be exciting. – So fun. Thanks, Anthony. – Thank you, Rachel. (upbeat music) – Anthony is so great. Seriously one of the funniest, best people ever. So, so hilarious. All right, you guys
know how passionate I am about you taking control of your money, not just for your benefit, but
to change your family tree, and getting your kids
involved in the process. So, up next, is a family
who is doing just that. – I always felt like I had
to keep up with the Joneses. – We felt trapped. He made a lot of money,
and we had nothing. The worst moment was when I
had to call my husband at work. I had to tell him not to buy anything. We didn’t have a dollar in the bank, a dollar on a credit card, nothing. – I was upset with myself. I couldn’t believe it had gotten this bad, and she was there in wait,
just ready with a plan. – We knew that this would affect the kids, and the kids were amazing about it. – We brought them into the whole mix, told them what we were doing. One thing we always made sure was to have them take any
credit card applications that we got in the mail and rip them up. Just wanted to instill in them that credit is not something that we do. We don’t want them to do
the same things we did. – They’re putting their
own value on things, and it seems like their goals were our goals, eventually. – Before, everything, every purchase was with a whole bunch of
baggage attached to it. It’s the most freeing feeling ever. – [Entire Family] We’re debt-free! (upbeat music) – Well thank you guys
so much for being here. – Thank you so much for having us. – All the way from Phoenix. – All the way. – Arizona. – A little bit of a trip, but you’re here because you’re
celebrating something fun. – We are.
– Absolutely. – What are you guys doing? – Our debt-free scream. – We’re celebrating our debt freedom. – Amazing. So how much
debt did you guys pay off? – $303,000. – $303,000? Okay, and that
includes the mortgage? – Yes it does. – [Rachel] But still, you guys, you don’t have a house payment. – [Jana] No. – You totally have no payments. So I’m dying to know, what
was life before this journey? – It was waiting for the
paycheck, to pay the bills. Had to wait for it, had to wait for it. The second it came, I’d pay all the bills, and that was that, and get
ourselves out of the hole – What was the breaking
point that you were like, “Okay, we have to do something different. “Something has to change.”? – We didn’t have a penny to our name, on a credit card or in a bank. – Justin, did you know all of this? – Yeah. I didn’t know it was
as bad as I thought it was, but it was pretty bad. Before our financial journey, I thought life was great because we just bought anything we wanted, and put anything on the credit card. One thing led to another, one bill led to another bill being late, and more and more debt. It just evolved for the wrong. – Very wrong snowball. – You look up, and you’re like, “Okay, “we have to change.” That shift of living where
you can buy anything you want— I’m sure you kids, you
guys, could get whatever you wanted for the most part. I’m sure your parents said
no to you a few times, but you lived as you
all wanted as a family, and so making that shift,
was a big one, I’m sure. I know for a lot of parents, when they’re talking to
their kids about this, because they’re starting that new journey, there’s this balance of
sharing but not scaring them, right? Do you feel like you
found that good balance? – [Justin] Yes. – I think so. I mean, to be honest,
the kids made it easy. I mean, we would tell them everything. We told them how much the mortgage was. We told them how much the electricity was. We told them everything, and then it’s like, no,
we don’t have to worry. All the bills are paid. We’re always going to have food. That’s not a problem, but we’re doing all the extra to the debt
so we can just be done and do whatever we want. We definitely explained all of that, but they weren’t deprived. That was very important, to make them not feel deprived. – Yes, absolutely. – One of the big things was, we opened up a banking account for both of them, and they went to the bank,
and they opened it up. They talked to the teller,
they handed over the money, and they had complete control of it. Every month they’d get a
bank statement in the mail, and they open it up, they look at it, and they know. – Was it fun going to the
bank and opening the account? Kind of like the adult world, right? – You feel responsible, right? – What other tactical
things did you guys use with the kids, to help teach them about their own money? I mean, you guys obviously
opened up a bank account, which is awesome for them. I mean, they’re already
being introduced to so much. Is there anything else that you guys did that you feel like really worked? – Well, we did get them
Financial Peace Junior, so they read all the books. You guys have your banks,
the triangle banks. – What’s your most favorite thing you’ve ever paid for on your own? – Probably my Nintendo Switch. I actually raised all the money. – Oh, for the whole thing? How much was that? – Probably $300. – How did you earn $300? – Just your chores. – Yes. – So good. After your chores, do
you guys check them off? – Yeah, we have chore sticks now. – So what is that, Quinn? Tell me about that. – Well it’s like these popsicle sticks, and they just have the chores written on them. The smaller ones, if we do them, we get a single dollar, but a bigger one, then we get $2. – Depending on the popsicle
stick, and the size. – [Justin] Absolutely. – Oh yeah, that’s so creative. That’s so good, so good, because life is crazy, right? – [Jana] Oh yeah. – I even remember growing
up with, and us doing it, even as Ramseys, we’d forget. We’d set a time sometimes. I mean, life is nuts, and so the consistency is good, but even a little bit,
goes such a long way, but you guys are doing
more than just a little. You are totally changing
your family legacy. What encouragement
would you give a family? A few things, okay, we have, maybe they have $30,000. It’s not $300,000, and they’re thinking, “We have kids. We’re
doing life. We’re busy. “I don’t think it’s possible for us “to buckle down and do this.” What would you say? – It is. You have to. You have to. There’s just no way around it. I mean, do it for your kids. We love it even more when
we can buy something, when we really, really want it, and we recognize whether
we really, really want it. I mean, we have talks with
them when we’re at the store. I’ll be like, “Well do
you really want that? “What are you going to do with that? “What do you need that for?”
Actually, a funny story: Emma had an Amazon gift card. She wanted to go on Amazon
and see what she wanted. I was like, “Do you really need anything?” She’s like, “Well not really.” I was like, “Isn’t that nice? “Isn’t that a nice place to be?” So it was awesome. – See, what a good conversation. I mean, leading into contentment, and just learning, yeah, you can be okay. There’s 39-year-olds who don’t have that. – That’s what I told her. That’s what I told her. – Well, you guys are absolutely amazing; truly an inspiration to so many families. And you kids are awesome. Seriously, you guys are awesome, so great. – Thank you. – Thanks you all for coming on to share your story. Thank you. (upbeat music) All right, this has been
such a great episode. Thank you to Anthony, Jana and Justin, and their kids for coming on. You’ve heard some great stuff; all in this episode. You can find everything in the show notes, including all you need to know about my new Contentment Journal. That’s right. All right, you guys know
how much I love April Fools and pranking people around the office. I have been known to
do that a time or two. This April Fools I have
partnered with someone who’s a little bit more incognito than me, George Kamel himself. He’s going to prank some
people around the office, and it’s fantastic. (upbeat music) – Hey guys, George Kamel, here. So yeah, Rachel decided to send me out, and we’re going to go
out and prank some people around the office. So take a look. (slow, orchestra music) – Thank you for calling Ramsey Solutions. My name is Victoria. How may I direct your call? Oh hi, Kristie. Oh, I’m so sorry. I haven’t heard anything about that. No one left any information
here at the front desk. Let me check into it. – Kristie, okay, so
here’s the crazy thing. I saw someone around your car and I was like, “What is going on?” But I had to get back to the show. If there’s no damage, I wonder if it could have been Rachel Cruze. You just got pranked courtesy
of the Rachel Cruze show. Always be looking over
your shoulder, Kristie. That’s right, that’s good advice. And you can thank Rachel
Cruze and her team. (horn squeaks) – Oh God. – Sorry about that. My bad. Hey Rick, you got a quick second? (horn squeaks) Cruze. (horn squeaks) (horn squeaks) We’re trying out some new ideas, and we’re trying to get
some team member feedback with the new building. We’re trying to keep it real clean, and so they’re thinking
about enforcing this no-shoe policy. Do you know people who do
that in their own homes? They’re like, “Hey, when you
walk in, take off your shoes.” No. – I would love that. – Maybe for you, but what
about all the other people with gross feet? – It sounds like a good idea. – You’re not worried about the stench? – No, I’m not. – Raw, in living color. – No. – Okay. – I love feet. – Are you 100% no on this? – I’m no. (chair squeaks) – [George] Can you keep it down a bit? I’m on the phone. What the heck was that? – [Woman] A chair. (laughs) – What was in there? Whoopee cushion? What? You think I did this? You think I’m capable of that? Only a close friend would do
something like that to you. You just got punked by
The Rachel Cruze Show. (chair squeaks) Oh. (laughs) (upbeat music) – Oh, April Fools. You’ve got to love it, don’t ya? All right, if you have not subscribed yet, make sure to hit that subscribe button so you don’t miss my next episode, and if you have not
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