Winter Storm Watch in effect from Wednesday, 6:00 AM CST until Thursday, 6:00 AM CST. Source: U.S. National Weather Service
Davis Motor Sales banner ad

dave R2 300KENTUCKY (9/15/13) – This week Dave discusses 'Wealthy, but not spoiled' and 'A rough lesson'.

Dear Ryan,
I know this will sound mean to some people, but you simply explain to them that they are not wealthy.

I remember a time years ago, after we’d gone broke, that we managed to scrimp and save and finally had a little bit of wealth. We bought a nice car and my son piped up from the back seat, all smug and satisfied, “We’re doing pretty good, huh?” I’ll admit it was kind of funny, but it was also a teachable moment. I looked at him and said, “I’m doing pretty good, but you’re broke!” That was a pretty consistent message around the Ramsey household as the kids were growing up. If you’re not working and making your own way, you’ve got nothing.

The second thing is we taught them, from a very young age, was to work. That can start with simple things like kids cleaning up their rooms or doing the dishes after dinner. It should carry over to the teenage years as well. Every able-bodied child should be working and earning money, whether it’s their own entrepreneurial idea, at a store in the mall or babysitting.

The third thing we did was based in our faith. As evangelical Christians, we taught our kids that we don’t really own anything. It all belongs to God, and one of our jobs is to wisely manage the things He entrusts to us. The first rule is to take care of your own household—the important stuff. After that, it’s okay to have some nice things, but it’s not all about pleasure. It’s also about giving and extraordinary levels of generosity.

Teach them to work. Teach them to be givers. And gently remind them once in a while that they’ve got nothing until they go out and earn it. - Dave
 
Dear Dave,
My dad opened a credit card account in his name a few years ago to help with my college bills, and he made me an authorized user. Now he’s delinquent on the card and I’m receiving collection calls and notices. Do I owe the credit card company money? - Steve

Dear Steve,
No, an authorized user is not liable. The account is in your dad’s name, and you didn’t sign anything. He’s the one legally responsible for the money owed.

I want you to be careful, though. Lots of credit card companies will badger people and use all kinds of pressure and guilt trips to try to collect money from people who don’t owe them anything. They just want their money, and they really don’t care who writes the check.

Get them to remove you as an authorized user today. Send them a letter demanding this via certified mail, return receipt requested, so you’ll have proof. Also, make sure they understand that you’ll sue them for about $10 million if they don’t comply immediately. You shouldn’t be reported to the credit bureaus for any of this, but companies can report just about anything—even inaccurate information—to the bureaus.

You have rights as a consumer, and you are not legally liable for credit card debt when you’re just an authorized user. But make sure you check your credit report regularly in the future. Some of these companies make a habit of repeatedly downloading misinformation to the bureaus in an effort to bother and bully people into paying debts they don’t owe! - Dave

Dave Ramsey is America’s trusted voice on money and business. He’s authored four New York Times best-selling books: Financial Peace, More Than Enough, The Total Money Makeover and EntreLeadership. The Dave Ramsey Show is heard by more than 6 million listeners each week on more than 500 radio stations. Follow Dave on Twitter at @DaveRamsey and on the web at www.daveramsey.com.


Disclaimer: The content supplied by columnists and letters to the Editor on this site does not in any way, shape or form, implied or otherwise, necessarily express or suggest endorsement or support of any of such content, statement, or opinions therein. SurfKY News does not necessarily adhere to or endorse content provided by outside non-staff sources.

© Copyright 2015 SurfKY News Group, Inc. All rights reserved. This material may not be published, broadcast, or rewritten without permission. SurfKY News encourages you to share this story on social media.

In Other News...

Madisonville Teen Faces Numerous Drug Charges

MADISONVILLE, Ky. (3/2/15) — A Madisonville woman was taken to jail after a Madisonville Police officer made a traffic… Read More

Mahr Park Development Progressing, Utilities in Place

MADISONVILLE, Ky. (3/3/15) — The Mahr Park Planning Committee met for its regularly scheduled meeting Monday, March 2.… Read More

Most Read This Week

March 02, 2015 8339

Madisonville Teen Faces Numerous Drug Charges

in Local (Hopkins) Top News by Madisonville Police Department/Hopkins County Detention Center
February 25, 2015 7823

Multi-Agency Investigation Nets Large-Scale Meth…

in Top News For All Sites by Trooper Stu Recke
February 24, 2015 7612

Two Charged in Central City Meth Bust

in Local (Muhlenberg) Top News by Trooper Stu Recke
February 22, 2015 7470

Easter Cuties Pageant in Memory of Shanice Bean

in Top News For All Sites Touching Hopkins by Tammy Holloway, SurfKY News
February 25, 2015 6215

New Asian Restaurant Coming to Madisonville

in Local (Hopkins) Top News by Gary Gates, SurfKY News
February 23, 2015 5439

Fire Departments Respond to Wester's Body Shop

in Local (Muhlenberg) Top News by Shawn Freels

Most Read This Month

February 12, 2015

UPDATE: Name of Pennyrile Fatality Officially…

in Top News For All Sites Touching Hopkins by Doreen Dennis, SurfKY News
February 09, 2015

Police Pursue Man after Fight at Taco Bell

in Local (Hopkins) Top News by Madisonville Police Department/Hopkins County Detention Center

Stories Trending Today

March 02, 2015 8339

Madisonville Teen Faces Numerous Drug Charges

in Local (Hopkins) Top News by Madisonville Police Department/Hopkins County Detention Center
March 02, 2015 3101

HCSO, MPD Join to Bust Alleged Drug Trafficking…

in Local (Hopkins) Top News by Hopkins County Sheriff's Office
March 02, 2015 2252

Officers Respond to Complaint of Drug Use; Arrest…

in Local (Hopkins) Top News by Hopkins County Sheriff's Office/Hopkins County Detention Center
March 03, 2015 1976

Three Arrested during Traffic Stop

in Local (Hopkins) Top News by Madisonville Police Department/Hopkins County Detention Center
March 02, 2015 1802

Job Fair Tomorrow in Madisonville

in Hopkins News by Kentucky Career Center
March 02, 2015 1642

UPDATE: Escapee Apprehended

in Top News For All Sites by Stu Recke
March 02, 2015 1539

Madisonville Police Arrest Reports - March 2, 2015

in Hopkins News by Madisonville Police Department
March 02, 2015 1338

Locals Flock to Yoga for Unique Wellness Technique

in Local (Hopkins) Top News by Doreen Dennis, SurfKY News
March 02, 2015 1303

Dawson Springs Man Charged Multiple Offenses Plus…

in Hopkins News by Melissa Heflin
March 02, 2015 1210

Greenville Police Department Reports Released;…

in Local (Muhlenberg) Top News by Wes Miller