As parents, we teach our kids about things we feel competent in. That's why so many parents don't teach their kids about money.
Interpretation
Parents often share knowledge in areas where they feel confident, leading to gaps in essential life skills like financial education.
In this quote, Dave Ramsey highlights the tendency of parents to impart knowledge in subjects where they feel knowledgeable. This can create a significant omission in vital areas such as financial literacy, as many parents may not be well-versed in money management, thus missing the opportunity to teach their children important life skills.
In practice
In a parent-teacher meeting, a discussion on the importance of teaching kids about finances can include this quote.
Debt is so ingrained into our culture that most Americans can't even envision a car without a payment ... a house without a mortgage ... a student without a loan ... and credit without a card. We've been sold debt with such repetition and with such fervor that most folks can't conceive of what it would be like to have NO payments.
The thing I have discovered about working with personal finance is that the good news is that it is not rocket science. Personal finance is about 80 percent behavior. It is only about 20 percent head knowledge.
Debt collectors like to play on your emotions because they think you'll give in and do something you can't really afford to do. Most of them don't care about you or your situation as long as they get some money.
Hitting bottom and hitting it hard was the worst thing that ever happened to me and the best thing that ever happened to me.
Your priorities, passions, goals, and fears are shown clearly in the flow of your money.
You have to teach children about money intentionally - create teachable moments.
It's true that, in Iran, women have half of the rights men do. And yet 66 per cent of students are women.
The most valuable of all capital is that invested in human beings
Teenagers have more intense reading experiences because they've had fewer of them. It's like the first time you fall in love. You have a connection to that first person you fell in love with because it was so intense and unprecedented.
Across time and generations, books carry the thoughts and feelings, the essence, of the human spirit.
I've seen schools in Detroit where the windows are broken, where there's no heat, and children are sitting with their coats on in class in the middle of a snowstorm. I've also seen schools in California with Olympic-sized swimming pools and cafeterias like five-star restaurants.
It is the responsibility of every adult... to make sure that children hear what we have learned from the lessons of life and to hear over and over that we love them and that they are not alone.
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