Dave Ramsey Quotes

I'm a big advocate of a work-for-pay setup rather than an allowance that isn't attached to chores - it's a great way to impart the value of money to your children.

I had an allowance, but I had to do things around the house to earn it. I think I always wanted my own money.

My mom gives me an allowance. She keeps me pretty tight-reined.

My children were taught at an early age how money works and that it comes from hard work. They've been on a commission - not an allowance - since they were little. They learned that if they worked around the house, they got paid. If they didn't work, they didn't get paid.

My dad was a baggage handler at Heathrow and careful with money. He worked hard and had three jobs when I was young. I wish I'd inherited his care for money. Sadly, I've grown up to be rather scatty when it comes to finances.

Young children need to develop good habits that will be useful to them the rest of their lives. It is important to keep the lessons age-appropriate. For example, when your children start earning allowances, that would be a good time to teach them how to put some money in the bank instead of spending it all.

What is important for kids to learn is that no matter how much money they have, earn, win, or inherit, they need to know how to spend it, how to save it, and how to give it to others in need. This is what handling money is about, and this is why we give kids an allowance.

It is critical that kids start to learn the value of money, short-term and long-term saving and budgeting at an early age.

In the past, I never gave money to my children when they were young in return for nothing. When one of them approached me to give them cash, I asked them to do some work in exchange for it.

You know for years, I've heard financial experts stress the importance of teaching your kids about money, but it wasn't until I saw my own son's perspective change that I became a true believer.

I think there are moral obligations, and I think there are economic transactions. So I think that chores are good; I think that allowances are good. I think combining them is bad.

My parents felt I should earn my money because I would then value it. So they would pay me a shilling or two to do jobs such as washing the car, cleaning and washing up.

I've worked since it was basically legal to work. I was a waitress on and off for eight years. I worked at Sears; I worked at Abercrombie folding clothes. My dad really instilled good money management habits, and I've saved 10 percent of my paycheck, every paycheck, since I was 15.

My parents taught me practical things, about how important hard work, discipline and the necessity of managing your own money were. Their values were very much the values of the postwar middle class.

You have to learn how to take an allowance.

The best time to start giving your children money is when they will no longer eat it. Basically, when they don't put it in their mouths, they can start putting it in their bank.

One should, I think, always give children money, for they will spend it for themselves far more profitably than we can ever spend it for them.

I say all the time I think there should be some courses in the regular schooling system that isn't, even like about credit, things that matter later in life. I learned the harder way: 'Look, I got a $500 credit card in the mail, let's go shopping!'

I don't think there are any students who should not be exposed to a basic financial literacy course.

My grandmother Izzy taught me to balance her checkbook when I was 6 years old. She would sign the checks after I paid the bills. I had a chuckle with my grandmother recently on how 'unbalanced' her checkbook must have been years ago.

Without any formal personal finance instruction in our high school or college curricula, many college seniors who graduate in the red will continue to make common financial mistakes that only exacerbate their debt burdens.

I'm very careful with money - both my parents were very sensible with it and I grew up to become an obsessive saver.

Most people don't know what they spend in every single area, but they know they have a problem in particular areas.

Financially, I've lost money and made money, but I know my way around financially.

I started doing a paper round when I was about 10. I started earning 10 pounds a week and then I was obsessed with earning money until I was about 15.