Smart Money Wisely By Dave Ramsey And His Daughter Rachel Cruze
896 WordsMar 27, 20164 Pages
The purpose of this assignment is to learn how to use my money wisely and also teach my children to use their money wisely also. The book I l chose to read is Smart Money Smart Kids by Dave Ramsey and his daughter Rachel Cruze. The five principles that I’ve learned out of this book is to teach your children young, about giving, saving, spend, budgeting, and debt. There are so many great principles that can be talk about but the first one that I will be talking about is teaching are children young about giving. When teaching children young about giving they will have a mind set to be giving and be taught that not everything is theirs anyway. In the book they talk about giving a generous amount. They say to give 10 to 20 percent of all your earning. This is true for each of us in the gospel. We are taught to give 10 percent of all the income that we receive. Robert D Hales in November 2002 say that “pay your tithing. Unlock the windows of heaven. You will be abundantly blessed for your obedience and faithfulness to the Lord’s laws and commandments.
Second principle is teach are children young about saving. If we are willing to teach are children young about saving this will help them thru their life. One way we can teach them about saving is giving them chores to make money. The Ramsey doesn’t like the word allowance but they will use commission to teach the children the value of money. With giving children jobs that they earn money to spend save and give. This is