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.

Posted on 2/2/14

In Other News...

Madisonville Fire Department Reports Released

MADISONVILLE, KY (3/28/15) ― After investigating a Friday morning house fire that displaced a family, city officials… Read More

Happenings and Meetings - Hopkins County

HOPKINS COUNTY, Ky. (3/28/15) ― The following meetings and events are scheduled for the following week: The Sound of… Read More

Most Read This Week

March 27, 2015 5517

Three Arrested during Execution of Search…

by Madisonville Police Department/Hopkins County Detention Center
March 25, 2015 5240

Fazoli's, Roses Coming to Madisonville

by Amber Averitt, SurfKY News
March 24, 2015 5057

One Dies, Another Injured in Mortons Gap Traffic…

by Deputy Heath Owens
March 25, 2015 4987

Grand Jury Finds No Criminal Wrongdoing in Bean…

by Doreen Dennis, SurfKY News
March 24, 2015 4182

UPDATE: One Injured in Hopkinsville Road Accident

by Doreen Dennis, SurfKY News
March 25, 2015 3949

Madisonville Man's Living Room Leap Lands Him in…

by Madisonville Police Department / Hopkins County Detention Center

Most Read This Month

March 09, 2015 13370

Multi-Agency Drug Bust Results in $1 Million Meth…

by KSP DESI
March 02, 2015 11523

Madisonville Teen Faces Numerous Drug Charges

by Madisonville Police Department/Hopkins County Detention Center

Stories Trending Today

March 28, 2015 2139

Young Child Dies in Princeton Fire

by Chris Rogers, KSP
March 28, 2015 1180

Tractor Trailer Takes Out Guardrail on I-69,…

by Doreen Dennis, SurfKY News
March 28, 2015 1017

VIDEO: Shoe Charity Expands to 'Sweet Sixteen'…

by Gary Gates, SurfKY News
March 28, 2015 721

Commission Hears More Proposals for Subdividing…

by Tammy Holloway, SurfKY News
March 28, 2015 687

Independence Bank Scholarship Reception Held…

by Lynnsie Fulkerson
March 27, 2015 637

KSP Charges Jefferson County Man with Possession…

by Kentucky State Police
March 27, 2015 619

Alltech Brewing and Distilling Academy Launches…

by Danielle Palmer
March 27, 2015 545

It's Not Too Late to Get a Flu Shot

by Beth Fisher
March 28, 2015 495

Four Roses to Build Bottling Facility in Bullitt…

by Office of the Governor
March 28, 2015 466

Happenings and Meetings - Hopkins County

by Amber Averitt, SurfKY News