Greetings Scottdan:
I swear, people are going to think I'm related to Dave Ramsey because
I reference him so much but I promise I'm not a relative of his nor
have I ever met him. It's just that by following Ramsey's simple
advice about money management, I turned my own spending and saving
habits around and made them into a positive force.
While I have never possessed the extra funds to attend a Dave Ramsey
seminar, I did have the funds to purchase his book a few years ago and
the advice in that book has proved priceless to me. The title is
Financial Peace and the contents are lessons in personal money
management that, when applied, will lead to a solid personal program
of saving while eliminating unnecessary spending.
Ramsey speaks directly from experience. Before he was thirty, he had
amassed a small fortune as a real estate speculator. When the market
slipped, many of his loans were called in and he lost everything.
Everything.
He then began rebuilding his life and wealth using "common sense about
money" and he has now built another business that not only makes him a
great deal of money but also serves to educate people like me who were
not taught the value of money nor anything about saving. My parents
raised me well but I grew up taking money for granted and not
respecting it - my parents didn't give me "money lessons" when I was
young so I had to learn them after I was grown. I've spoken with
countless parents who were raised the same way I was and they tell me
that *their* children are being well-educated about the cost of
things, bills, etc. to prepare them to be responsible about money when
they are older. But, in my generation, parents often "protected" a
child against knowing about everyday debts.
Ramsey's approach and advice is so simple and soooo sensible that
anyone can grow from the lessons he offers. If you don't want to
immediately purchase the book Financial Peace, check your local
library for a copy. It's written simply and succintly.
My second suggestion is to visit Ramsey's site and peruse its pages.
It's located at http://www.daveramsey.com/ and he also hosts a
nationally syndicated radio talk show where anyone may call in for
financial advice - not the investing in stocks or a company, but
investing in one's self. He's on every day somewhere in the US. To
listen to his shows online, visit
http://www.daveramsey.com/radio/home/
Third, arrange for your son to attend a Dave Ramsey Financial Peace
seminar. These are offered in large cities at auditoriums and in
smaller towns through simulcast at various spots. Check if there is
one near your area at http://www.daveramsey.com/hope/events/ - you'll
also be able to learn more about their simulcast events there.
Also, there is a club (Dave's Club) on the site that offers a
seven-day trial free and I would suggest you sign up for the trial
offer and haunt the site for several days.
Learning good habits regarding money are essential for success in the
long run. As a youth, I didn't think twice about retirement. My
gosh! I was young, why would I think about that?? lol Now, having
recently celebrated the 26th anniversary of my 21st birthday, I
*definitely* understand how important it is to put funds aside for my
"winter years" - it was my actions from Ramsey's advice that set me on
the sensible financial track.
Other questions where I have referenced Ramsey are located at
http://answers.google.com/answers/main?cmd=search&q=journalist-ga+dave+ramsey&qtype=all
- there are six there, three I answered and three on which I
commented. You can confirm there that I highly value his financial
suggestions.
Should you require clarification, please request it and I will be
happy to respond. You are a wise and caring parnet to want to assist
your son in learning important financial lessons.
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