neur and everyone around them , if they don ’ t plan wisely and very carefully ahead of time .
In my mind , one definition of a nightmare in business is “ going all in .” When you ’ re playing cards , this means betting everything on a single hand . You never go “ all in ” when it comes to business . So , for the moment , the first question he needs to ask himself is this : How can I live my dream without going all in ?
For starters , he needs to find something he truly loves doing and can look forward to every single day . To have any chance of success , he ’ ll have to live and breathe that idea . I know you love this guy and want to help . So , the best thing you can do right now is express your concerns about his idea , and offer to help him think about what he could do every day that would make him smile . Once he has the answer to that question , the next step is figuring out how to start that business without putting your entire financial world in danger . In other words , how can he save up some money — and start small — instead of blowing your entire savings or going into debt ?
If you have some cash other than your emergency fund or retirement fund , it ’ s okay to use some of that . But never , ever , go into debt to start a business , or pledge every dime you have to something that could be a complete disaster .
It ’ s not an either / or proposition , Renee . He doesn ’ t have to risk it all to get away from a job he hates and live his dream !— Dave money , whether it ’ s their own entrepreneurial idea , at a fast food joint or babysitting .
Another thing we did was based in our faith . As Christians , we taught our kids that we don ’ t really own anything . It all belongs to God , and one of our jobs is to wisely manage the things He entrusts to us . The first rule is to take care of your own household — the important stuff . After that , it ’ s okay to have some nice things , but it ’ s not all about fun . It ’ s also about thoughtful giving and being generous .
As a parent , your job isn ’ t to be a buddy to your kids . It ’ s not to give them every little thing they want , and make sure they ’ re running around carefree and playing every hour of the day . Your job is to teach them about the important things in life , and over time , mold them into mature , responsible human beings who can survive — and succeed — in the real world . — Dave
Dave Ramsey is an eight-time national bestselling author , personal finance expert and host of The Ramsey Show . He has appeared on Good Morning America , CBS This Morning , Today , Fox News , CNN , Fox Business and many more . Since 1992 , Dave has helped people take control of their money , build wealth and enhance their lives . He also serves as CEO for Ramsey Solutions .
WORKERS AND GIVERS Dear Dave , My wife and I have been very fortunate in our careers . We both have six-figure incomes , and as a result we have a little over $ 2 million in savings and investments . With this in mind , do you have any advice on how to make sure your kids aren ’ t spoiled as they grow up in a family that ’ s doing well financially ? — Gary
Dear Gary , First , don ’ t spoil them ! Teach them to work , and teach them to be givers . Oh , and gently remind them every so often that it ’ s you and your wife who are wealthy — not them . Yeah , I know . This probably sounds mean to some folks , but I ’ m talking about simply explaining to them how you and their mom have worked hard , been smart with your money , and that ’ s why you ’ re in the position you ’ re in .
We taught all our kids , from a very young age , just how important it is to work . Work equals money . When you do that , and kids see it in their parents ’ attitudes and actions , it makes a big impression . With little kids , it can start with simple things like cleaning up their rooms or clearing the table after dinner . And it should carry over into their teenage years , as
well . Every able-bodied child should be working and earning www . kidslifemagazine . com
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