Participants: Yvonne Lewis (Host), Ryan Mack
Series Code: DAS
Program Code: DAS000005A
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00:01 What is the money for?
00:02 Is it a helpful resource to use for good? 00:05 Or is the love of it the root of all evil? 00:08 Actually, it's both. 00:10 But God may have a different definition of success. 00:13 Real success doesn't come overnight. 00:16 It takes hard work and faithful planning. 00:20 To use your dollars well, 00:22 it takes more than a little sense. 00:26 Hello, and welcome to Dollars and Sense. 00:28 I'm Yvonne Lewis. 00:29 And I'm the co-host for this program. 00:31 Our primary host is Ryan Mack. 00:34 Ryan is a financial literacy expert, 00:36 author, speaker, teacher. 00:38 He just does it all. 00:40 Hey, Ryan, what's up? 00:41 It's a good day today. 00:42 It's a good day. It is. 00:44 The Lord is blessing and we're here. 00:46 You got great information. 00:48 What are we gonna talk about today? 00:49 Well, today is a very special occasion for me. 00:52 Okay. 00:53 'Cause we have a special guest in our video segment. 00:56 And it's my mother. 00:58 Oh, nice. 00:59 And I owe a lot to my mother. 01:01 And I think that what she did 01:03 because I guess being the financial expert, 01:06 she instilled in me a lot of things 01:09 that led a light unto my path. 01:12 And so that's why I chose the scripture today 01:14 to be Psalm 119:105 that says, 01:19 "Thy word is a lamp unto my feet, 01:21 and a light unto my path." 01:23 And I think that it's imperative 01:26 that our parents began to start instilling within our children 01:30 principles of physical responsibility. 01:32 This is where I first learned about 01:34 physical responsibilities, 01:35 this is where a lot of individuals 01:37 get their first exposure to all these life skills. 01:40 And so I'm just excited to just hear our conversation. 01:44 And she led the conversation as normal, 01:46 I just let her lead the way. 01:49 And it was a good day. 01:51 That's great, that's great. 01:53 It is so important to teach our children about money. 01:56 Yes. 01:57 And many times, we weren't taught about money 02:00 and our parents weren't taught about money, 02:03 so on and so forth, 02:04 like the book "Rich Dad, Poor Dad". 02:05 Right. 02:07 You know, so if we don't, if we don't teach our kids, 02:10 the first thing is we gotta learn about it ourselves 02:12 so that we can teach our kids. Yeah, you're right. Absolutely. 02:14 And then, we share with our children 02:16 what we learn 02:17 because it's just critical that we learn. 02:20 It's very valuable point. 02:22 A lot of times in teaching physical responsibility 02:24 and I've done a lot of work with youth as well as adults. 02:27 And when I go into various schools, 02:29 I would organize with the parent-teacher association 02:32 to say, "Hey, let me bring some of your parents," 02:35 and many of them have never been exposed 02:36 to very basic principles. 02:38 And I remember one time, 02:40 we were doing some programming with some youth 02:42 and they went home and they came back the next day 02:45 for the second day of programming. 02:46 And the couple of the kids had notes from their parents 02:49 saying, "How come we don't get this information ourselves? 02:52 'Cause now our children gotta learn more than we do." 02:54 So it's just imperative that we just take sometime 02:58 to again understand how the scripture relates 03:02 to physical responsibility 03:03 and use that as an inspiration to say, 03:06 "Let us further learn about these tools and principles 03:10 that we've been inspired 03:11 to attain by just using scripture. 03:13 I'm looking forward to checking out 03:15 what your mom says on the video. 03:17 She did a good job by the way. 03:18 A little by so, I made you see it as well. 03:21 Great, let's take a look. 03:22 All right. 03:29 Welcome to another episode of Dollars and Sense. 03:32 And my name is Ryan Mack, your host. 03:34 And I have with me today a very special guest, 03:36 my mother, Karen Mack Wells, 03:39 who is a large reason that I'm your host today, 03:44 a large reason why my brother is doing what he's doing today. 03:48 And very physically responsible individuals. 03:50 And the show today is really all about making sure 03:53 that how parents can teach their children 03:56 about the importance of physical responsibility. 03:58 And what better way than to bring my mother 04:01 who taught me a lot about this. 04:02 So our scripture for today is Psalm 119:105 which says, 04:08 "Your word is a lamp to my feet, 04:10 and a light for my path." 04:13 Now, Mom, as it relates to financial literacy, 04:17 does that scripture resonate with you, 04:20 and how so? 04:22 First of all, thank you very much for having me today. 04:23 Absolutely. I'm please to be on your show. 04:26 Yes, it does, very much so. 04:28 Because throughout your childhood, 04:32 my responsibility was to create a pathway 04:36 to guide you and your brother into lights 04:39 that would be physically responsible. 04:42 And so there are many things that I remember 04:47 that you did for us that resonated with me. 04:51 I remember starting my job when I was eleven and half 04:55 as a paper route and eventually it was caddie. 04:59 What are some of the things that resonated with you 05:01 that you did intentionally 05:03 to make sure that physical responsibility 05:07 was deeply embedded within us? 05:10 Well, one of the primary factors 05:13 that played a role in my plan 05:16 and how you all were taught 05:20 was the fact that we had very little money 05:23 when you were growing up. 05:24 And so my goal was to share with you 05:31 what you had to do in order to deal with the fact 05:36 that you didn't have a lot of money 05:38 and go on to school 05:40 so that eventually you could have more money. 05:44 I remember going into grocery stores 05:46 and having you and your brother 05:50 longingly look at things like potato chips and... 05:54 We wanted all the good stuff. 05:55 You wanted all the good stuff. 05:57 You didn't want all the healthy stuff. 05:59 And so, but I had to say to you, 06:02 you know, we have X amount of dollars 06:07 and that's how much we have to spend. 06:10 And if we buy the potato chips and the candy, 06:13 we can't buy the healthy things. 06:17 We can't buy the things 06:18 that we can eat for two and three days 06:21 and not just have a bag of chips. 06:24 So that was kind of a beginning of what, 06:27 you know, you learned as you were shopping. 06:31 I also remember the job that you refer to. 06:37 The job was as a caddie. 06:41 I don't know if you remember, 06:43 you didn't like being paper boy that much. 06:44 No, I didn't like it at all. 06:46 The money was not that good, there's lot of work. 06:49 I didn't like, I didn't like it at all. 06:51 It was the worst. 06:52 Well, then you got the position as a golf caddie. 06:56 And it was a good position. 06:59 You made a little bit of money. 07:01 But again, the lesson that I tried to convey 07:06 was you don't spend all of your money in one place. 07:13 In other words, you have to make 07:15 certain that your money goes a long way. 07:17 Because you had us buying a lot of our own school clothes 07:20 even back then. Yes, yes. 07:22 You bought your school clothes and you washed your clothes. 07:24 You did the wash. Yeah. 07:27 Mainly because you didn't like 07:29 the way I washed your blue jeans 07:30 but that was okay. 07:32 But you did buy your things. 07:35 I went to resell shops to buy. 07:40 I knew that I wanted to wear nice things to work. 07:46 I knew that I couldn't afford them. 07:48 So I would go to Somerset Saks Fifth Avenue. 07:52 Which is the half affluent type store. 07:54 That's right. That's right. 07:55 And I walked through this so called higher affluent store. 07:59 And I saw what they were selling. 08:01 And then I immediately went back, 08:03 left there, went to the resale shop 08:05 and got not the same things 08:07 but similar things from the resale shop. 08:11 I used to buy things from the resale shop 08:13 for you and your brother. 08:16 But again, you didn't wanna wear resale clothes so I... 08:20 We were too satiety for that. 08:21 Yeah, you did not like that. 08:24 And so I used to buy stuff and put them in cleaning bags. 08:29 And then bring them home to you and say, 08:31 "Look what I went and bought at the store today. 08:34 Look at this beautiful sweater." 08:37 And you all, because you thought it was brand new, 08:39 you liked it and you wore. You would fool us. 08:41 I would. I would. 08:42 I fooled you 08:44 because I knew that my money could go further 08:47 in a resale shop 08:49 than it ever could have gone in the Saks Fifth Avenue. 08:51 Never once I could have gone to Saks Fifth Avenue. 08:53 But the less it was, 08:57 here's what we have, 09:00 here's the amount of money we have. 09:02 And we talked about this. 09:04 Here's the amount of money we have. 09:06 Do we use it to go and buy one pair of designer gym shoes 09:12 or do we buy one pair of non designer gym shoes 09:17 and a sweater to go with it. 09:19 I still remember Mr. Alan's two for fifty 09:22 and all those shoes. 09:24 I mean, we used to get shoes for $10 09:25 and pay less and all sorts of things. 09:27 And we still do a lot for it, 09:29 that kind of where it started from, wasn't it? 09:31 Well, yeah. 09:33 You know, you decided at very young age 09:37 because that was what I made you decide 09:42 that you were gonna have more money 09:46 to spend if you bought this one item 09:51 and then you'd have some leftover 09:52 rather than buying a designer this 09:55 or designer that. 09:56 So the two of you were raised 09:59 literally not having any designer things. 10:03 So it became more less about... 10:06 It became more about the saving principle 10:08 than it did about the brand the we were actually wearing 10:10 which is still why to this day, 10:11 I've never been too excited about getting a brand name 10:16 where I've never really been, 10:17 I guess, hip to the new styles coming out. 10:20 That was because of all those things 10:22 that you were teaching us way back then, wasn't it? 10:24 Right, it was. 10:25 And you all took to the lessons very well. 10:29 And I don't know how much time we have, 10:33 but I'll talk about the time you went shopping 10:36 with one of your first paychecks from the caddie job. 10:39 And I sent you out with your brother. 10:42 And I said to you, "Make your money work. 10:47 Make your money wiser. 10:48 Spend your money wisely." 10:51 And so you took the money out 10:54 and your brother took with you. 10:57 And you came back with two of the most horrible outfits 11:02 that I have ever seen in my life. 11:04 Yeah, I bought a Duke blue devil 11:06 and Universal Michigan short sets. 11:09 And I bought them on the corner of Eight Mile And Greenfield, 11:13 literally on the street. 11:15 And they were cheap, 11:16 they were cheap but they were ugly. 11:19 And I was proud of those outfits. 11:21 That was my first, I remember those outfits. 11:24 Well, your brother and I and you talked about it 11:28 when you got back with the outfits 11:30 'cause I looked at them and I thought, 11:33 you know, you learned the lesson well. 11:36 You didn't go out and buy something from Hudson's 11:42 or Macy's or whatever 11:44 where you would not have a lot to buy. 11:47 You bought two outfits 11:49 where as had you gone to the Hudson's 11:51 you would've only had maybe money for one. 11:53 Can't get any cheaper than buying on the street. 11:55 No, you did. 11:57 And it was clear that that's where you got it from. 12:00 But that's where you begin to learn 12:04 that it was more important to make your money go longer 12:09 so that you could buy one or two items 12:13 as opposed to one expensive item. 12:17 And you and your brother have maintained that throughout all 12:20 of these years. 12:23 Well, I gotta say, Momma, I wanna say thank you. 12:26 You're certainly welcome. 12:27 For all of the principles and tools. 12:29 I'm sure that viewers of the Dollars and Sense 12:33 hopefully will pick up on some things 12:35 and will be in the studio 12:37 giving some further tips on strategies 12:39 but all of these things, 12:41 I mean, it is really living your life in a biblically base 12:45 that you put in these principles within us. 12:48 So I wanna say I appreciate you for that. 12:50 Well, I appreciate the two of you for being the kind of 12:52 people that you are. 12:54 I'm exceptionally proud of the two of you. 12:57 You are the one thing that makes me feel very good 13:02 about what I've done, 13:04 whatever that is. 13:05 And I thoroughly enjoy that. 13:07 But I just have one other thing to say 13:09 is you didn't wear designer things 13:11 but you didn't mind not wearing designer things. 13:13 No. 13:14 Because you knew that you were saving money. 13:18 And that was the rational that we had... 13:20 That's the biggest principle, how much money can we save. 13:23 And so you said, 13:25 "I can go without wearing designer gym shoes 13:29 because I know I'm saving some money 13:32 or I know I'm spending my money wisely." 13:35 And that was important. 13:39 Yeah, you have it, a message from my Momma. 13:42 See you back in the studio. 13:47 That was so good. 13:50 That was my mother. 13:52 Wow. 13:53 I really, I love some of the stuff, 13:55 the lessons that she taught you. 13:57 You know, one was the value of work. 14:00 Yes, absolutely. 14:02 She gave you a work ethic early. 14:06 And that's important 14:07 because we have to show our children 14:09 that they have to work for their money. 14:12 Money doesn't grow on trees. 14:14 Your mom can I have money for this, 14:15 mom or dad, can I have money for that. 14:17 It doesn't grow on trees. 14:18 You teach your children how to work. 14:21 She taught you how to work. 14:23 The other thing is she taught you 14:25 that I saw from there 14:28 is the value of saving. 14:30 You know, saving money 14:31 like not spending so much is differed gratification. 14:36 I don't have to have this right now. 14:38 I don't have the money right now 14:40 but I can earn some money to get some things. 14:43 So she taught you the value of saving. 14:47 And she also taught you the value of money, 14:50 and putting it in its proper perspective. 14:53 And I just, like that is just great. 14:56 I just thought she was great. 14:57 We had a good time doing that interview. 14:59 And just going down memory lane 15:01 is just, really just pulling out a lot of nuggets 15:05 of what she had done. 15:07 Again, I had previously over the years 15:11 since I've gotten more matured, 15:12 really just thinking back on a lot of things 15:14 that we had to go through 15:16 and what, as a parent she was going through. 15:18 And really just taking in those life lessons. 15:21 And I said, you know what, 15:23 I've actually written many an article 15:26 based on the various things, 15:27 for parents based on what she has actually taught me 15:30 and my brother. 15:31 So very thankful for that, 15:33 very grateful for what she's done. 15:35 And actually I have some tips. Oh, good. 15:38 Some tips for parents that they can use. 15:40 And hopefully they can take some of this information 15:44 to right there at home 15:45 which my mother has done for me. 15:47 Oh, that's great. 15:48 So get a pencil and some paper and take some notes. 15:51 Well, one thing that we did 15:53 is we have the three boxes strategy. 15:56 Okay. 15:57 So the three boxes strategy, 15:59 there are only three things you can do with money. 16:02 You can spend your money, 16:04 you can save your money, 16:05 and you can give your money away. 16:07 That's all you can do with money. 16:08 You can't do anything else. 16:10 And if you really break it down 16:11 like that's actually the very crux of budgeting, 16:14 that's actually the crux of every financial decision 16:17 that you're gonna make. 16:19 Asking yourself, 16:20 what you're gonna do with this money? 16:22 You're gonna spend it? Are you gonna save it? 16:23 Are you gonna give it away? 16:24 Okay. 16:26 So we have these three boxes, these shoe boxes in the house. 16:29 And we labeled them, spend, save, give. 16:33 So every single time that we had a dollar 16:35 that entered into our pockets 16:37 and we didn't really get a large allowance at all, 16:39 but when I was 11, I started to work. 16:43 She would have the decision 16:44 in where would we put those money. 16:47 Giving obviously, is tithing. 16:48 What about your offering? 16:49 What other organizations are you gonna give it to? 16:51 Is there anything out there, 16:53 any cause that you wanna be attached to? 16:55 And now to this day, my brother who has a son 16:57 does what my mother did with us 16:59 and he will take them, 17:01 he will take his son to the shelter. 17:04 In addition to tithing, 17:05 go to the shelter and they would give clothes 17:08 and they would buy clothes and gifts 17:10 for every Christmas time for people. 17:12 And they would have a discussion about it. 17:15 So before you give a dollar, 17:17 the beautiful part about having these boxes in the household 17:19 is that every time that a dollar, 17:21 if you give your children allowance, 17:23 every time you give them, you should have a discussion. 17:25 How much are you gonna save, how much are you gonna spend, 17:28 and how much are you gonna give? 17:30 And what are you gonna give to? 17:32 That becomes the discussion about tithing, 17:33 that becomes the discussion about offering, 17:35 that becomes the discussion about charity, 17:38 that becomes the discussion about local organizations 17:40 and what you can do to give to them. 17:41 It makes it really tangible. 17:43 What are you gonna spend your money on? 17:45 Now usually, every child like I did, 17:47 she didn't mention the fact 17:49 that I actually wasted my money on some things. 17:51 I'd buy things like Baker Square pies 17:55 and McDonald's and all those unhealthy stuff. 17:57 And I would eat and get sick 17:58 'cause I was making money for the first time ever 18:00 and I got so ill and whatever. 18:02 And so that became a discussion, 18:04 "Okay, what are you gonna spend your money on next time? 18:06 Now your money is gone. 18:07 Now you have to buy your school clothes 18:08 all from now on. 18:10 Are you gonna go back to Baker Square, 18:12 or you gonna buy the school clothes?" 18:13 At what point did you start buying your own school clothes? 18:16 12 years old. Nice. 18:18 Ever since 12 years old, I bought all my school clothes. 18:21 And I was very intentional 18:22 because I bought the Baker Square pie 18:23 and McDonald's and all that unhealthy stuff. 18:26 And she said, you know what, if you're gonna go out and buy, 18:30 your money on irresponsible things, 18:31 you're gonna have to start buying, 18:33 that's when she send us out to start buying clothes. 18:34 That was the first clothes that I bought. 18:37 And that instill within me, all of a sudden, 18:41 that Baker Square pie and that costs, 18:43 you know, seven to eight dollars, 18:45 it became less important, 18:46 it became less valuable. 18:48 And I had this, 18:49 looking my spend box and that's it. 18:50 I only have enough money to spend 18:52 but I gotta put some money to save. 18:53 The save box is crucial 18:54 because that became the first savings account. 18:57 And that became a conversation about saving. 19:00 And I would look at the account, I'd say, 19:02 well, what is this it was, you know $10 before, 19:06 you know, months and months later 19:07 it was $10 and ten cents. 19:09 What is this 10 cents? 19:10 That became the discussion about interest. 19:12 And that became the discussion about compounding interest, 19:15 that became discussion how money grows. 19:16 And I said, "Well, I didn't put a dime in, 19:17 where did it come from?" 19:19 I used to think that... 19:21 I think it was midget behind the ATM machine 19:23 giving money away, right? 19:24 And it's obviously not a midget behind there, 19:27 so but it was a conversation, "Hey, Ryan, I have a job. 19:30 And this is the mortgage." 19:32 And my mother was very candid 19:34 about having real life conversations 19:37 and saying that this house 19:39 does not just come from anywhere. 19:41 As I had a mortgage, 19:43 this is what the mortgage costs, 19:44 we have a budget, yes we have to have food, 19:46 we have to go shopping, we have to... 19:48 All those expenses we had even before I was working, 19:51 we would have very candid conversations. 19:52 And then, I think the three box strategy, 19:55 if you do those things inside of your household, 19:58 what it does, it allows you to have those conversations 20:01 and opens up to some really candid conversation 20:04 with your children 20:06 to make sure that they really understand 20:07 about what are the options 20:10 that they can have with that money. 20:11 And then be there with them 20:12 as they're making those decisions 20:14 and say, "Well, no. 20:15 Maybe, you shouldn't spend your money on that 20:17 'cause if you spend your money on that, 20:18 you won't have enough money to go down to shelter. 20:20 You won't have enough money to go down to the church. 20:22 You see all the good things that church does for you. 20:24 Don't you wanna support them? 20:25 And then you can start instilling in them 20:27 from an early onset. 20:28 You know, that's so good. 20:30 And, you know, part of the beauty of this to me 20:32 is that you don't have to have money to do this. 20:34 No, it doesn't. 20:36 You know, your mom was struggling at that point. 20:38 Yeah. 20:40 And she instilled these values in you. 20:43 You don't have to have a lot of money 20:45 to instill values in your children. 20:47 I'm so thankful for my boys 20:49 and what God is doing in their lives too, 20:52 Mark and Jason. 20:53 And to me, it's like God just lets you know what to do... 20:59 And they're very physically responsible as well, I see. 21:01 They are. Yeah, they're getting there. 21:07 I'm getting there too. We all have learning to do. 21:08 Yeah, we're all getting there. 21:10 But I'm just so thankful for them. 21:12 And you don't have to have a lot of money 21:16 in order to teach you children. 21:18 You don't. We used to take trips to... 21:22 Our vacation was a trip to the Indian Reservation. 21:26 And we did that because we didn't know 21:29 where else to go and we didn't have 21:30 any money to go anywhere else. 21:32 So my mother said, "You know what, 21:33 there is a Native American Reservation 21:35 is up there in Canada. 21:37 Would you like to go there? 21:39 Would you like to go to Ohio to see your grandparents? 21:40 Would you like to go to..." 21:43 You know, very other options 21:44 that essentially were cost efficient. 21:46 And so we chose 21:47 to go to Native American Reservation in Canada. 21:50 And we went up there. 21:52 And we heard a strange noise and as we said, "Let's go, man. 21:56 I don't know what the heck is going on in the background." 21:58 I remember it. 21:59 It's just a clearest day, and I was only five or six. 22:02 But that vacation in my mind, it was... 22:05 To me, that was a week-long vacation, 22:08 but it is only a day. 22:09 But to a five or six-year old, everything is magnified. 22:13 So, and we have a lot of parents 22:14 who are spending money on things 22:16 that they're gonna grow out of, 22:17 spending money on things that they're never gonna use. 22:19 They're not even know or appreciate. 22:21 They never have any value attached to them. 22:24 And it doesn't give any life lessons. 22:26 Those life lessons are so important 22:29 because we carry them with us for the rest of our lives. 22:32 Yes, absolutely. What other tips do you have? 22:34 Well, one other tip is a tangible allowance, right. 22:37 So, if you give your child, 22:39 well, I didn't really get an allowance, 22:41 but if you give your child an allowance, 22:43 you wanna make sure that you give them money 22:45 but have a purpose attached to it. 22:46 So, for instance, if your child wants to ask for an Xbox, 22:52 or a new plays, video game, or some new clothes, 22:56 or whatever it is for Christmas or what have you, then say, 23:00 "You know what, I'll buy this for you 23:02 but you have to pay me back." 23:04 And if you buy that child 23:06 that brand new pair of sneakers, 23:08 then give them, write down an 'I owe you' for that $50 23:11 or hopefully not $100 but we all know there are $100 23:14 and $150 shoes out there. 23:16 But write that child an 'I owe you'. 23:18 And he gets his new sneakers but then attach $5 23:22 to doing the dishes. 23:24 Attach $3 to clean up your room. 23:27 Attach $5 to vacuuming the living room, 23:30 and so on and so forth. 23:31 So now whenever your child goes through paying off 23:34 that 'I owe you', burn it up and have a debt burning party. 23:38 It really make it a very visible occasion 23:41 where, now that child is learning visibly 23:44 that you're burning up his debt. 23:46 And it's crazy enough but what it does, 23:47 it imprints something in his mind 23:49 that goal is to pay off of debt. 23:51 And the goal is to make sure we're getting rid of debt. 23:54 So as long as we're using the money 23:56 that we're giving our children in a very tangible way, 24:00 we give them life lessons. 24:02 And Nike shoes, I mean, well, I mentioned $150 shoes. 24:06 I mean, I ask the question all the time. 24:08 "Is it better to own the shoe 24:10 or is it better to own the company?" 24:13 And most people will say, 24:15 "It's better to own the company." 24:16 And most children will say, 24:17 "Well, I can't own the company." 24:19 Well, then I just take out my phone 24:21 and I'll show them the price in which Nike stock is trading 24:23 and it was $50 of share and what not. 24:27 $50, what is that? 24:28 Well, that's a conversation about stock. 24:30 And say, "Well, for $150, you could have bought 24:33 three shares of stock but as opposed to doing that, 24:36 you only own the shoe which devalues. 24:38 But now, you can actually own the company, 24:40 the stock which appreciates. 24:43 So these are just basic conversations 24:45 that get our children to learn. 24:46 And one last lesson is, what I did. 24:49 I started working when I was eleven and half years old. 24:52 And I think that it was amazing that the people that I met 24:56 when I became a caddie, 24:58 I think every child should be a caddie. 25:00 I love caddying. 25:01 I got the full ride scholarship to University of Michigan 25:04 because I was a caddy. 25:05 It's called Evan's scholarship, Western Golf Association. 25:09 Every parent that has access to a golf course nearby 25:13 that where they have caddies 25:14 might have access to this program. 25:16 So if your child is 11 or 12 years old, 25:19 they could start working. 25:20 And I would meet doctors, and lawyers, and attorney, 25:23 and business owners, and union workers, 25:27 and all sorts of these individuals 25:29 who are very well off, 25:31 who are part of this private golf course. 25:32 They would talk to me about their career. 25:34 And so it was very intentional 25:35 that she got me that job at that age. 25:38 I would learn about all these... 25:40 It's very important things 25:41 and very important life lessons. 25:42 So I've been very blessed. You have. 25:44 You know, one of the things that I've read about, 25:48 and one of my favorite authors, 25:50 Ellen White has written about 25:52 the importance of giving children chores 25:54 and letting them learn to how to work. 25:58 And from when Jason, my younger child, 26:00 when he was a little boy, I gave him chores to do, 26:04 help me fold clothes, help me do this and that. 26:07 And it just instills the work ethic that is so, so valuable. 26:12 I've seen his work ethic. 26:13 Well, actually he does the production for this show. 26:15 Yes, yes. 26:16 He's behind the scenes right now plugging away. 26:18 He is, he is, he is. 26:20 Doing a good job. I'm really thankful. 26:21 And you've done a really very good job 26:23 and excellent job, I have to say. 26:24 Oh, praise the Lord. 26:25 The Lord is really good and He guides us as we go. 26:30 So just recap in ten seconds what this program meant to you. 26:35 And then, we'll go to our takeaway. 26:36 It meant everything in the world to me. 26:38 It meant making sure 26:39 that my mother got the credit she deserves. 26:41 And I just wanna say thank you. 26:43 And I give God all the credit 26:44 for giving the mother like that to me. 26:46 Amen, amen. Well, let's hear your takeaway. 26:48 Let's go for it. Yay! 26:57 The concept of saving money 26:59 as well as the value of compounding interest 27:01 should be taught early in life. 27:02 Simple acts like opening 27:04 a savings account for your child 27:05 and walking him through the statements 27:06 will make a lasting impression. 27:08 Every child should learn about 27:09 the concept of debt early in life. 27:11 Spend some time in Proverbs, 27:13 reading scriptures like Proverbs 22:7 which says, 27:15 "The rich rules over the poor, 27:17 and the borrower is servant to the lender." 27:20 Have conversations with your child about money. 27:22 Let them know where the funds came from 27:23 for purchasing that videogame. 27:25 The growth of a tree starts from the roots. 27:28 We all will agree that our children are the root 27:30 and foundation that determine the future 27:32 and direction of our society. 27:34 I wouldn't be standing here today. 27:35 And it's people like my mother, father, 27:37 and many others poured into me. 27:39 Psalms 1:3 says, "And he shall be like a tree 27:41 firmly planted by the streams of water 27:44 ready to bring forth its fruits in its season, 27:46 his leaf also shall not fade or wither 27:48 and everything he does shall prosper. 27:51 Be the change you want to see. 27:53 Always remember the purpose of life is a life of purpose. 27:55 Dollar and Sense, signing off. |
Revised 2017-06-19