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.
Finally, one just has to shut up, sit down, and write.
You have to know human behaviour β¦ And the quality of your writing is absolutely capped at your understanding of human behaviour. Youβll never write above what you know about people.
When a child shows up for school, and is not physically and mentally ready to learn, he or she never catches up.
A nation under a well regulated government, should permit none to remain uninstructed. It is monarchical and aristocratical government only that requires ignorance for its support.
We learn more by looking for the answer to a question and not finding it than we do from learning the answer itself.
Kids who are poor often have families that have not really been kept informed about... how important it is to read to your child, to reduce stresses in their life, to use positive incentives and words.
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