My daughter is so much like my dad

The other day, Clark and I went to pick Emma up from school and we were going to take her to lunch at a restaurant. Emma’s response, “Why are we going out, we have food in the house.” And she was right.

It made Clark and I pause for a moment but we continued to the restaurant with our coupon in hand.

Then last week Clark and I started to attend Dave Ramsey’s Financial Peace University at Cornerstone. It got off to be a bumpy start with the first host (all I can say is make a decision about snacks and stick it with-no one will starve). Once the video started and we were going through the book the true work began.

I thought I was going through my own Dad’s 101 Financial Planning for me. When I was 18 and in college I was lucky enough to work for a (now defunct) financial institution. They offered a 401K. At 18, I could care less about a 401K but my dad drew out this pyramid how my investments should stack-longer term investments, shorter term investments, stocks, bonds, etc. I never paid much attention to it. My maximum amount was always put in and for 13 years I never thought about it. When I was laid off from the company I have not invested another penny. I have enough in the account (Ben was good in the book but now at 38 I am slighter better with a 28.9% year to date rate of return for 2009). My Dad was right and I am so glad I learned that lesson early on.

I know how to create and run budgets for others. The money has to be accounted at all times. I think it is easier knowing when the money is not yours.

However for Clark and I, we have never really had a budget. Money was there and bills were paid, our mortgage was paid and our cars are paid off. But we have so much to learn about managing budgets, credit cards and planning for the future (besides 401K and reserves).


I am looking forward to this week! I know I have lessons to learn from Dave Ramsey but maybe my daughter and dad as well.