dave says
Featuring the advice of personal finance expert and bestselling author Dave Ramsey, the Dave Says column is filled with timely, relevant questions and answers taken from actual letters and calls on Ramsey’ s radio program, The Dave Ramsey Show.
LOOKING BACK … Dave, I started my own small business a couple of years ago. Thanks to your advice, and a lot of hard work, we’ re starting to see growth. I’ m just curious, if you could go back and restart your business, would you do anything differently the second time around?-Gerald september / october 2025
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Gerald, This is a great question! I suppose if there was one thing I could change, it would be taking more time during the hiring process. I didn’ t spend nearly enough time and energy during interviews back then. Another thing has to do with retained earnings. We didn’ t begin taking a percentage of our net profits and setting it aside for retained earnings until we got too tight on cash. Starting over, I’ d do that from day one. I’ d run a profit and loss statement for the month, close the books for the month and take a percentage of the net profit— after paying myself a decent wage— and automatically put it aside as savings for the business.
People problems and money problems are two huge smallbusiness killers. We fought so hard and were so passionate about everything. Sometimes, I wonder how many mistakes I made as a result of over-the-top intensity. Don’ t misunderstand; you’ ve got to be intense and enthusiastic to make things work. But there were probably a few times when I could have handled things with a little more understanding and class.
I’ m a little more relaxed now, and I know a couple of things for sure. Better hiring decisions, and having a little bit of money saved, changes your whole attitude and outlook on things.
— Dave
GIVING IS ALWAYS IN SEASON Dear Dave, My husband and I have already started putting money aside for Christmas. Recently, we were talking about what we might get our six-year-old twins, when we decided we want to make sure they experience the giving side of Christmas this year, rather than just receiving. What are some good ideas for making sure they learn age-appropriate lessons about giving at that age?-Brooke
Dear Brooke, I love Christmas! And I love the way you’ re thinking. Everyone knows Christmas is one of the best opportunities all year to give. But too often, we get so caught up in shopping and
buying a bunch of stuff that we don’ t take the time to demonstrate giving to our children. Sure, we give to them, but how can we get them in on being givers, and make it a habit in their hearts?
Sometimes, the smallest ways are a good starting point. And you don’ t even have to wait until the holiday season. You could begin encouraging them to pass along compliments to their friends. This kind of encouragement goes a long way any time of year. You might try sending an extra snack to school with them. They can give it to a friend, and then when they get home from school, let them tell you what happened.
Do you and your husband regularly donate time, money or other items to a charitable organization? If so, make your kids part of the process. When they see mom and dad being generous, it will make a big impression, trust me. Or, maybe they’ re independent types and like to do things themselves. You could encourage them to start setting aside a little bit of the money they receive from birthdays and doing jobs around the house to give to a local charity— and letting them pick the receiver.
There are lots more ideas for helping kids learn to become generous. Just use your imagination, and keep an eye out for teachable moments. But always remember that you’ re the ones setting the example. If your kids see you showing a giving spirit, that’ s a great first step!— Dave
* Dave Ramsey is a nine-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.