By Anna D. Banks
In Lesson 2, Dave Ramsey describes the difference in how men and women relate to money. Money is one of the top (if not the top) causes of divorce because money accentuates value differences. Both partners should be involved in budgeting and make money decisions. There are two types of people when dealing with money: nerds and free spirits. Nerds like analyzing and creating complex spreadsheets. Free spirits don’t want to be controlled. If you’re not married, it’s good to get an accountability partner.
Dave then outlines the rules for a budget committee meeting.
* The meeting can’t go longer than 17 minutes
* Nerds make a proposed plan and bring it to the meeting. They give it to the free spirit and then shut up and let them look at it.
* The free spirit has to show up, act like an adult and give positive feedback.
Kids and Money
* Dave talks about teaching kids how to relate to money and the value of paying “commissions” for chores.
* You can teach your kids to be responsible with money by making them save for some of their own purchases.
* Whenever your kids get money, help them separate the funds into three envelopes: giving, spending, and saving.
Next Week:
Lesson 3 - Cash Flow Planning
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