From a very early age, Rachel Cruze was taught the importance of managing money. As the daughter of financial guru, Dave Ramsey, Rachel watched her parents make many sacrifices in order to get out of debt. She learned what it looked like to avoid debt, save, and give to others. Because she learned these practical tools at an early age, she’s been able to avoid the financial stresses that many face in adulthood. Join us as we hear from Rachel the importance of being smart with money and practical tips on how to teach these important concepts to our children.

hey there I’m Priscilla I’m so glad that

you’re joining us for the chat with

Priscilla this is a place where you can

just come and relax and hang out with me

and just talk about some things that I

hope will be inspirational to you

challenging to you and today I think

informative to you a lot really

informative you know we live in a

culture where being broke is kind of

normal being in debt being strapped

financially that’s what we see all

around us and for many of us that’s what

we were raised seeing by our parents but

we’re talking to a guest today who’s

going to help us to break all of that in

our lives into fine

umm wealth in the sense of freedom in

our lives financially I cannot wait to

talk to Rachel Cruz so stay tuned

okay I want you to listen to this normal

in America dave ramsey writes is broke

so if you do normal behaviors you will

be broke and if your kids are finding

and financially normal they will be

broke so he says this book isn’t for

normal people it is for people who have

figured out that normal is not good

enough this book is for weird people

people who are willing to act

differently in order to become wealthy

he means free financially and wealth is

so unusual and abnormal that we must say

it really is weird in our culture to

have financial freedom so if your goal

is to take mediocrity to the grave and

to raise children who are perpetuating

your stupidity that’s why I love Dave

Ramsey he says then this book is not for

you but we are weird people in the sense

in the studio audience today and I know

you are two people who don’t want to be

strapped financially you don’t want to

constantly go to your grave worried

about what you’re going to do about your

finances more importantly we don’t want

to pass this on to generations to come

and so I’m so excited because Dave

Ramsey has this little daughter sweet

little daughter named Rachel cruz rachel

cruz learned from the best and now she

is passing on her financial wisdom one

generation to the next

i wonder today if you will please help

me to welcome the daughter of dave

ramsey and the author of the number one

New York Times best-selling book smart

money smart kids welcome Rachel Crews

have a seat I have been waiting to talk

to you know it’s been so long I feel

like we like been waiting for them I

know because our paths have kind of

crossed except not crossed because we’ve

kind of been in the same circles a

little bit but we’re they’re different

on each other in hallways yes but I do

know your dad we’ve met before your dad

introduced us to each other that’s right

and your dad is a remarkable guy we have

to kind of start by talking about him

just little bit I hope you don’t mind no

no I take it as a badge of honor yes

that I’ve accepted it right I’ll always

be Dave Ramsey’s daughter Yeah right and

you know what people do that to me too

because I’ll just always be Tony Evans

daughter it’s just the way that it is

and it’s okay cuz they’re good dad

exactly exactly they’re bears by it most

of the time but you know well your dad

is very straightforward he’s very direct

he believes what he’s talking about if

you don’t know he is the how would you

describe him the foremost voice in our

country for financial a financial being

yes and I don’t need him for it yes

absolutely

yeah it’s people to be out of debt and

be free how long has that been his

life’s mission sure well I actually was

born in a very interesting time yeah my

dad’s life so I was born the year they

filed for bankruptcy so I was born in

April and they filed in September okay

so my whole life I’ve watched Dave and

Sharon Ramsey figure out God’s ways of

handling money so I’ve had that

front-row seat in a sense so ever since

I can remember you know they were very

intentional with us growing up I think a

lot of people think we had like mutual

funds parties like budget camps all the

time and thankfully that wasn’t the case

so glad I know right would that be

horrible would that be horrible so I

think that’s one thing people assume

that when you want to teach your kids

about money that it has to be like this

crazy big you know philosophy and we had

to talk all about it we’re honestly

living it day in and day out your kids

see that so that was a big part of

growing up as Dave Ramsey’s kid okay

understanding money is watching and yeah

okay what did you see them doing to

climb out of that state of being

bankrupt in to this place of freedom and

wholeness in their finances what are

some of the things you remember as a

little girl watching your mom and dad do

sure well going into debt was never

going to be a part of their story again

they drew a hard line in the sand said

no matter what we’re not borrowing money

because the borrower is slave to the

lender

and they felt that so much obviously

because they filed for bankruptcy and so

there are a one-car family for many

years I mean they really stuck to that

so I mean little things I remember my

mom since we don’t give credit card

you’re about you’re about to run on past

that point and that is so huge what you

just said something that we all have to

get the borrower is going to be a slave

to the lender you’re going to feel

enslaved to who you have borrowed that

money from the interest that is piled on

top of that that you’re constantly

trying to pay back so you really do have

to draw a line in the sand and say if I

don’t have cash for it I’m not buying it

if you don’t have the money don’t buy it

shocking financial advice isn’t it isn’t

that crazy I mean it’s common sense we

all know it but to live it out day in

and day in and day out here in our

culture today it is so hard so to drive

that draw that line in the sand and say

no matter what we’re not bringing money

you become weird like you said in the

intro you do and so for mom and dad’s

you know they I never saw them have a

credit card even so I’m a mom using cash

at the grocery store and she had an

envelope and it was labeled groceries

and I watched her pull two $100 bills

out yeah and pay for groceries and and

I’m I think years old yeah and I worth

seeing the two hundred dollar bills and

thinking it was like two million dollars

to a picture all I couldn’t believe it

and so that was my memory of realizing

okay that’s how much groceries cost and

so just seeing them play out and being

in church and watching dad drop a folded

cheque in the offering bag watching them

give and all this and so that was a

powerful thing is that more is caught

than taught yeah and you know what I

think is so interesting is that you said

you saw these bills you saw a hundred

dollar bill I think that most of our

kids did I see credit cards that’s what

they see they’re seeing the debit card

they’re seeing the credit card because

how many of our kids have said to us

when we say I don’t have the money for

it for that and they’re like we’ll just

pull out that little card away about

that plastic thing you know what it does

they’re just like pull that thing out

you know that works so true but when you

see a a bill your children realize that

actually there’s actual money that has

to go into these groceries coming into

our Valley and the thing that happens

with with actual cash to that your kids

see that’s powerful is that in exchange

happens you give something you have to

let something go in order to gain

something else where when you swipe you

know there’s a mentality okay you get

your thing and you get to keep there was

no exchange happening and so to watch

something leave in order

gained something else as a powerful

assay aim for adults right when I swim

with cash it hurts more yeah you know

when I when I lay that hundred-dollar

bill down at dinner it’s like Oh uncle

Benjamin right like believe in me like

I’m gonna sound so so you you feel that

versus just throwing you know the credit

card German well I like you know so many

things about about your dad but I love

that he says here that if you want to

raise your children to perpetuate your

stupidity this book just didn’t for you

and I love that you’re basically saying

to us that your parents decided we are

tired of our own stupidity yeah and

we’re not going to let this be Rachel’s

story we’re going to teach her

differently and so many of us just have

to make that choice just decide that

we’re going to change the trajectory of

our our kids life so you watch your

children your parents use cash you watch

them draw a hard line in the science and

that they’re going to just cut up those

credit cards and put them away and then

you watch them make sacrifice because

you were starting to mention the whole

one car situation for example other

sacrifices did you watch

oh sure well you know coupon clipping

was like a normal going and shopping

with mom I mean she would pull out you

know six seven coupons and you know just

just those kinds of things and saying no

a lot we never went out to eat and where

we could we could go to the Olive Garden

the Sunday after our birthday it was

near our church so the Olive Garden was

like our big thing and so now I love

going out to eat cuz I was like deprived

as a kid right so I’m always like oh I

love restaurants and so you know but but

those things went to Sharon’s kitchen

yeah they called it so we had to go home

and eat and you know what just for

encouragement for parents out there I

survived yeah you did I was okay you

know

yeah I think so many parents think off I

can’t get my kids these things if I

can’t let them experience this and this

you know they’re gonna be deprived no if

anything I think it builds stronger

character to see boundaries and Cecilia

and to feel that I really think and I

struggle with this you know a mom of

three boys and we’re going to bring for

part two of our conversation with Rachel

we’re going to bring some young people

out here and let them ask their

questions to Rachel but I really

struggle because you know I’ve got a

getting ready to be 13 next week then 11

years old and seven year old and I’m

realizing that just because one

generation does better than the next you

know you probably are doing a little bit

better than your parents were and your

you know your children you want them to

a little bit better than then you’re

doing so I realized that a lot of the

things that I didn’t have access to as a

kid my children do and they don’t even

they’re not even thinking twice about

the fact that they have it because it’s

normal to them that they have it that

they’re going you know I didn’t go out

to eat on Sundays either it’s like mom

cooked on Sunday that’s right my kids

just when I say dinner they run to the

car that’s great this is normal you know

it’s alright so you watched your parents

sort of pull back the reins yeah and

cause you to understand that to get you

are paying something you are giving

something out yeah absolutely and it’s

hard to do and that’s the thing is that

as I’m a mom now a six-month-old right

now I want to go cash off my 401k every

time I go into the babyGap right like oh

my gosh I could just buy all of his

studio all the time so so I know it’s

hard cause like you said you want you

want to give your kids a better life but

I believe give them a better life that

you can pay for and so mom and dad at

that point they couldn’t pay for it and

so we weren’t we we heard no a lot yeah

but I am so so thankful for that and I

think that’s one encouragement for

parents that no matter what mistakes

you’ve made your kids are your clean

slate your kids are your do-over and so

don’t stop your money mistakes and

saying well I live paycheck to paycheck

I have so much that we don’t have

savings we don’t budget we’re horrible

with our money does it matter you can

still teach your kids how money works

your kids can have a different story and

and I’m a product of that I’m so

thankful that coming from parents who

are bankrupt but they didn’t say oh well

that’s it you know we don’t know what

we’re doing we’re stupid we’re bad with

money our kids don’t have a chance no

they took the opposite approach and say

okay no we’re going to instill this in

their kids so just because you’re not

great with money right now I want you to

get your act together for your own sake

financially but you you still have the

right to speak into your kids lives okay

this is what I remember that my dad

taught me about finances and as I was

thinking about talking to you I was just

reminded about this dad always said to

me here’s the formula for always having

money this is this is little kid growing

up imma be in five and six he said this

to me he said you always for every

dollar you give to the Lord you save and

then you spend you give 10% to the Lord

without question you save at least if

not more 10 percent of what you have all

and then you have left to spend and that

little formula if I had a dollar we were

putting a dime in the tithe we were

putting a dime in a little jar and then

I had 80 cents left to spend

and I realized now as an adult because

my father said that to me growing up I

that’s just what I do it’s just I do

when we come back from the break I want

to talk to you about whatever sort of

things you heard your dad say to you at

6 7 8 10 15 that really did inform and

influence your life as an adult that’s

great ok we’ll talk about that as soon

as we come back stay tuned

hi I’m Priscilla and I wanted to take an

opportunity to invite you personally to

join me for a seventh session Bible

study on the armor of God will dive

deeply into what it means to be equipped

to stand firm against the schemes of the

enemy he is very real and he has been so

strategic and targeted in his attacks

against us why shouldn’t we be equally

strategic and targeted in standing firm

against him and you and I have an

opportunity to suit up to put on some

armor that works and to go to battle and

to see victory declared in our lives in

the lives of those people that we learn

this Bible study will be one that will

change our lives forever and will help

us to walk in victory so plan to join me

won’t in the armor of God

welcome back we are having a great time

talking about financial freedom with my

brand-new friend Rachael Cruz who is

joining us today I’m so glad that you

were here we were talking about before

the break the lessons that your parents

can teach you when you’re young you know

my parents taught me lessons when I was

young and literally one of those lessons

for example was you don’t need a credit

card do not get a credit card and I

listened to that I did not listen to

everything my parents told me to do but

I did listen to that and I will say I

have never been in debt my entire life

because I just and when you’re not in

debt you feel like you have money even

if you don’t you’re not wealthy but

you’re not constantly shelling out to a

debtor and so not having a credit card

when I was in college and racking up

that debt really provided for financial

freedom in the in the future and so what

are some lessons when you were young but

your father just sort of and your mother

repeatedly shared with you that informed

your decision-making later on in life

our parents must have been good friends

because the give save spend mentality

was something and I think that’s huge

because learning that as a kid to give

save and then spend because when I talk

to so many adults and you know helping

them with their own finances

you know that we’re looking at their

budget and so original I want to be able

to give I want to be able to spend that

or I want to be able to save but I don’t

have any money I don’t have money to

give in to save because what I’m I pay

all my bills on my budget at the bottom

there is no money left at home well

that’s because you have your budget

upside down okay you give first you save

second and then you pay bills okay so

what happens though when you do that

you’re saying turn your budget upside

down you tithe you you say but what if

somebody’s saying wait a minute that

doesn’t leave enough to cover all of my

bills don’t I need to take some of the

savings and apply that to this this

telephone bill that needs to be paid or

a mortgage that needs to be covered

absolutely well your four walls want to

be covered your your shelter so your

rent or your mortgage your food clothes

and transportation so those four things

need to be covered now that doesn’t

include cable that may not include out

to eat so if you can’t give save and

then pay bills you need to cut some of

your bills then there needs to be some

places that you cut because people who

win with money they’re mostly usually

very generous people they give and they

serve people that’s one of the reasons

they’ve won and they safe they have

money safe yes and so those are thing

and there’s a biblical as well in the

house of the wise they’re stores of

choice food and oil a foolish man

devours all he has wise people save so

so it’s alter scripture this is very

biblically based and so I would say cut

your lifestyle in half or see if you can

rural you the end amounts of toes I know

I somebody manicure away I love a

manicure right it says that’s the other

thing mom and dad taught me which was

great is is that it’s okay to have some

nice stuff yeah just don’t let your nice

stuff have you and your stuff can have

you over then in two ways it can have

you if it owns you financially if you go

into debt for it and it can own you if

your identity your happiness is wrapped

up in that thing

and so that was cuz I I enjoy shopping I

enjoy getting my nails done right

Priscilla I did that for you I list I

got a manicure for this yeah alright

there’s so I I do I enjoy I want to go

to spend and enjoy my money and so that

gives me a good balance and it’s okay to

have some nice stuff just don’t like

your nice stuff have you and

unfortunately the culture we live in the

ideology of our culture financially is

the exact opposite of what you’re

describing we do not live in a culture

that celebrates the overall win for your

life if you restrain yourself in areas

that are honestly superficial but our

culture has grouped them underneath the

need category that you need just like

you need four walls you also need to

have this particular furniture inside

those four walls and you also need not

just to have the television you can’t

just have primetime TV stations you have

to have the NFL package as well or HGTV

or lifetime or come on y’all know what

I’m talking about we have to have all of

the stuff to go with it so all of a

sudden we find that our needs have

blossomed out of control and we’re

trying to keep up a lifestyle that is

keeping us in debt and in bondage and

and how do we get to a place for the

person that can’t let the cable go they

can’t let their bi-weekly or bimonthly

trip to the salon go they just feel like

oh I have to do that how do you even

begin to cut yourself free sure well I

would say I want you to get to the

you can be able to have that kind of

stuff again so I want you to have to

make short-term sacrifices for long-term

gain so cut the lifestyle for a year or

two while you get out of debt you know

as much money as you can throw the

deeper you can cut your sacrifice the

more money you can throw to be debt-free

when you don’t have payments it’s

amazing what happens when your income

comes in and it’s yours you get to

decide what to do with it I’ve realized

that that debt is a thief’s debt not

only steals your income from you but it

seals your peace of mind it steals your

sleep at night it steals your motivation

for why you go to work because you have

to pay visa and your student loan right

and it changes so much it’s steal so

much from us so when you can be free

from that not only financially does the

income come in and you have your income

you get to go get the manicure or go to

the spot whatever you want to do you

have the money to be able to do that now

and the freedom that comes with it that

you don’t owe anyone anything yep

I love that you and your dad have

written this book together I love it so

much if you do not have a copy of this

incredible book smart money smart kids

you need to get it obviously

particularly if you have children this

book is going to be a blessing to you

but beyond that if you don’t have

children you still need this book

because there is so much wisdom inside

of this book that is just good for you

whether you are a child or whether

you’re just childlike in managing your

finances and you’re just needing good

advice to help to get you to a place of

freedom but speaking of raising children

I loved this particular part of the book

and I want to ask you about this this is

you writing and you say work was never

an option in the Ramsey House no matter

how young Denis Daniel or I were from

the time I was five years old I was

working on Commission listen to this

y’all mom and dad didn’t believe in

giving us an allowance dad hated that

word it implied that a child is allowed

a certain amount of money just for

living and breathing I love that so much

and your dad went on to talk about how a

lot allowances the the mere definition

of the word allowance is that you’re

making an allowance for someone who is

not able to do a task that’s right so

we’re actually do you think crippling

our children by enabling them in a way

to feel like they do not have to put out

or exert effort or energy and they are

rewarded financially for that absolutely

I mean I think there’s a whole

generation that hasn’t dis

connected where money comes from and you

have to have this foundation that money

doesn’t fall out the trees right right

it doesn’t come from home that’s back

pocket it doesn’t just grow comes from a

plastic car right you have to go to work

and so the great thing about that I

think some parents think it’s harsh but

to be able to let your kids do some

chores around the house get the

Commission if you do the work you get

paid if you don’t do the work you don’t

get paid I’m gonna shocking right so an

adult right we experience this on a

day-to-day basis and so to be able to

make that connection not only once they

have that money they earn it when they

give it they’re giving their money from

something that they’ve earned that

they’ve sacrificed when they save it

they’re feeling that when they spend it

they feel it so much more emotionally

there’s so many teachable moments when

your kids earn money and sure there’s

gonna be chores that they do around the

house because they’re part of the family

and that’s fine you know the kitchen for

us growing up we didn’t get paid on

anything we had to bring our dishes to

the sink when we got older we had to

clean the kitchen do the dishes right so

like that we didn’t get paid on but

little things we did around the house

and for that again so grateful because

that work money connection and once I

made money I got to feel it and I got to

experience you know the good and the bad

with having money do you think that this

issue of work ethic is really what will

help us to solve this problem of a

generation of young people that are

entitled yes I think entitlement I think

that’s a huge subject we could probably

have a whole new show and I say that I

get nervous about that with the boys and

I get nervous about them just because

again we live in a culture where so much

is available to them it’s so readily

available to them they are blessed as

many of our children are to you know

live in a place that’s just comfortable

for them they’ve got a bed to sleep in

they have good food that’s on the table

and you worry about your kids expecting

the next iPod just because it came out I

mean I’m just like no you may not have

about I don’t care if your friends have

a phone yeah I refuse to get you a phone

yeah because I don’t want you to think

just because it’s available you’re

supposed to have access to it how do we

keep our kids what are some of the

things you suggest to keep your kid

what’s the balance between helping them

enjoy the blessings that God has given

them without also becoming entitled to

expect blessings from God in the

sense of tangible things that they’re

supposed to have absolutely well I think

one the work thing is huge when your

kids can work and they can save and they

can pay for something on their own so

much happens they learn patience they

learn work ethic there’s so much around

that but I think a key spiritual

principle for us as adults as well its

contentment in teaching your child

contentment and so as as I was looking

at this you know godliness with

contentment is great gain you have so

much gain when you’re content as a

person but it’s so hard and so for kids

and adults I think in order to be

content first we have to be grateful and

I believe in a heart filled with grata

simple principles that hit you like a

rock though don’t they when she says

them because when you’re not content

that automatically shows you that you

lack gratitude in your life and so when

you’re you just bought your kid those

tennis shoes you just bought them they

just got them at Christmas and three

months later for their birthday they

need a new pair of tennis shoes because

they no longer like the pair that you

just bought for Christ right oh then

that’s telling you that they lack

contentment and what you just gave them

because they’re actually not as grateful

as they should be for the blessings that

they’re been given but it’s not just our

kids is it it’s us well I mean I went on

a trip to Charleston with my husband

about two years ago and I was home for

maybe an hour and I was on Instagram

watching this girl and she was in Greece

yachting through the Greek Isles or

something crazy right and I was like

friends no no my friend I thought it was

a fashion blogger no I’m not right with

her no no no no but I descried or even

no right and I’m like I needed to buy

airline tickets to Greece like I

suddenly feel like I need to be in

Greece you know which we couldn’t afford

but I I was looking that I was like rich

are you just I mean in cargo I just got

back and those are a moment where I I

had to put my phone down I said Rachel

you happy be grateful look what you you

just went on this so I have to check

myself so much as well on a daily basis

and social media makes this all harder

oh it’s tough I don’t think our kids can

see everything that all the other kids

have yes we can see you know well

keeping up with the Joneses you know

thirty years ago you had to watch the

Joneses pull their new car in the

driveway and today the Joneses have 18

different filters on Instagram right I

mean they paint everything and it’s like

oh my god gosh they’re always there and

and I don’t and I always get this a lot

because I don’t want to blame social

media but I think it is the vehicle

which takes us down the road to

comparison yeah when you start comparing

that’s where things get in trouble and

so it is it’s so hard and I think

parents today if there is an uphill

battle for all of this but staying

consistent staying in the staying in the

word praying for your children being

those models I believe you can raise a

great child there is hope for this

generation there are going to be some

great kids that come out of it so it’s

exciting to see because we see parents

all over the country doing it and it’s

really exciting

well there you go it’s discipline y’all

it’s gratitude

it’s contentment and I think our kids

are going to catch that as we are

disciplined are grateful and are content

with what the Lord has given us you are

certainly proof of that because here we

had two parents that were bankrupt the

year that Rachel was born and now she’s

sharing financial advice all over the

world to students and adults alike again

you’re going to want to pick up a copy

of her book that she co-authored with

her dad number one New York Times

bestseller there is advice in this that

will keep you from passing your

stupidity and my stupidity down to the

next generation we can be financially

free and we can raise a generation of

kids and grandkids by the way if you’re

a grandmother a grandfather this would

be a great gift for you to begin to sow

into the lives of your of your

grandchildren this new attitude about

financial freedom so remember this is

just part one of our conversation with

Rachel we are going to have a part two

you’re going to want to check that out

as well but for now would you guys

please help me to thank Rachel crews for

being a part of

you

you