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.

LIKE SurfKY on Facebook - Click here to LIKE us now.

© 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.

3/13 - 16
3/13 - 16

Most Read This Week

April 13, 2015 6128

Three Juveniles, Adult Accused of Vandalizing…

by Deputy Will Coursey
April 14, 2015 4714

Several Juveniles Charged in Connection with Fight

by SurfKY News
April 16, 2015 3308

Crime Stoppers Fugitive of the Week – April 16,…

by Hopkinsville – Christian County Crime Stoppers
April 11, 2015 2948

Juvenile Injured When Struck by Vehicle

by Madisonville Police
April 12, 2015 2776

Police Searching for Hopkinsville Man Accused of…

by Paul Ray, HPD

Most Read This Month

March 18, 2015 10035

UPDATE: Hanson Man Located in Henderson, Taken to…

by Trooper Stu Recke
April 02, 2015 8418

UPDATE: Madisonville Man Injured in Head-on…

by Doreen Dennis, SurfKY News

Stories Trending Now

April 17, 2015 1857

An Open Letter from an Addict

by Olivia Kirks
April 17, 2015 873

Madisonville Police Reports Released

by Rita Dukes Smith, SurfKY News Director
April 17, 2015 848

Two Charged in Connection with Powderly Firearms…

by SurfKY News
April 17, 2015 694

Police Officers Building Up Community by Helping…

by Doreen Dennis, SurfKY News
April 17, 2015 654

Hopkins County Sheriff's Reports Released

by SurfKY News
April 17, 2015 389

'The Bidding is On' at Annual Library Auction

by Tammy Holloway, SurfKY News
April 17, 2015 387

Free Seedling Plantings Available While Supplies…

by Amber Averitt, SurfKY News
April 17, 2015 386

Brown Pitches Baseball to Series Opener over…

by UK Athletics
April 17, 2015 289

Paducah Man Faces Multiple Charges after…

by SurfKY News