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Thoughts on "kids" and money

November 29th, 2009 at 08:45 am

My "kids" are 26 and 25. The oldest is married and the youngest lives with the married couple in Austin, Tx. I've talked to them about Dave Ramsey and they seem interested so I ordered a copy of Your Total Money Makeover and 2 starter envelope systems, one for each son. I don't know that my daughter in love would use the envelopes but I figure if she falls in love with her husband's system I can get her one, too.

Both young men have had their share of financial problems in their young adult lives. The oldest put himself through college with just a little help now and then from Mom and Dad and now he has a job he likes for the most part and he makes good money. His wife also has a good job but they have money issues too often and admit they blow too much money. The youngest son has struggled with college and jobs but is doing well at the local community college there and is trying to find a decent job. He's gotten a little help from Mom and Dad, too, but has also taken the loan route to help finance his education.

They're both very intelligent, gifted (and handsome!) young men but they had lousy financial role models growing up. Truly. Their Dad and I didn't know how to save, accrued a lot of credit card debt, and just generally sucked at money matters. I so regret raising my sons in that manner and hope they each find a better way to live. I think my mother has had some of these same thoughts about me over the years. Maybe Your Total Money Makeover and the envelope system will get their feet set on the right path, maybe not. I should have done this many years ago but I didn't. Here's hoping it isn't too late but hey, it wasn't too late for me!

4 Responses to “Thoughts on "kids" and money”

  1. lizajane Says:

    It's never too late to start!

  2. LuxLiving Says:

    This might be a neat Christmas gift - if it wouldn't be taken the wrong way - envelope system built into your checkbook.

    http://www.budgetmap.com/

  3. baselle Says:

    If it wasn't too late for you, it's not too late for them. Big Grin

  4. DeniseNTexas Says:

    Lux, thanks for sharing that. I'm going to give that some serious thought. They wouldn't take it wrong, I don't think. The three of them KNOW they aren't the greatest with money but all three do want to improve Smile

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