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Ask Dave

Teach Your Children Well

Tammy needs to teach her kids the right concepts without trashing her ex-husband who uses credit cards.

QUESTION: Tammy and her husband have two daughters, age 9 and 12. Her kids spend half their time with her ex-husband, who uses credit cards and teaches them non-Dave ways of life. How can Tammy counter this?

ANSWER: You’ve got the difficult concept in trashing the concept without trashing the dad. Say that when you’re in this house, you save money and give money and don’t use credit cards. They are old enough to talk to about why they need to act their age. If they act like they are four years old, we’ll treat them like they are four. Teach them to live on less than they make and walk with them through the process. Tell them that you are going to teach them the right way to handle money.