I’m a big fan of Dave Ramsay. I bought one of his audio books on his debt management plan and it really impressed me. I’ve read lots of similar plans, but this one really got my attention and it seemed like something I could really do.
I really wanted my kids to get the benefit of it as well, but I knew if I just told them about it, it would just go in one ear and out the other. I felt like they would really benefit from listening to the program, but how do you get a couple of 20-something kids to pay attention long enough to listen to an audiotape like that?
The answer – I paid them! I got three copies of the program, taped a $20 bill to each of them and gave them to my oldest son and daughter-in-law, plus my twenty-something middle son. Then I told them that they couldn’t have the twenty until after they had listened to the program. Since I figured that these lessons were likely to help them for the rest of their lives, I counted that $60 as the best money I ever spent in my life.
“Then I told them that they couldn’t have the $20 until after they had listened to the program”
Sometimes when you really want to get serious about something, you need to literally put your money where your mouth is. And it did make a big difference. My older son and his wife immediately started an emergency account and started working on paying off their debts. They will be buying their first house next month. And my younger son started building up his savings account and picked up a 2nd job to start saving for his first apartment.
What is the best money you’ve ever spent?
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