I found out my Mom w2 13k in a year and I had nothing but respect for her. Never grew up without the basic needs.

I know that my father made an upper middle class income for over thirty years and he bragged about making some good real estate deals. And I know that the first dollar I ever saved was a dollar more than he ever saved in his life.

My step kids asked me when they were headed to college, their mom never wanted to tell them, I don't know why. Money shouldn't be a secret to kids. They asked me because they wanted to know how much it took to live like we did, not because they were interested in the actual dollar amount. I also showed them how to make a budget to live on.

I never knew we as a family where upper middle class until I went to college. Everyone in the neighborhood was like us, everyone at school was like us I just assumed that was how the world was. College was an eye opener for me. The one thing my Mother instilled in all her children was to be kind to everyone. That has served me well in life.

Love the Dave and John duo. They are always in sync.

I'm not sure a parent has to disclose what they make, but I think it is wise to sit down with the kids and teach them about bills and saving/ investing

I emphasize to my kids that a person's net worth is far more important than what they earn.

As a kid, I don’t remember ever being expressly told what my parents made, but they never hid it from me. I think that was a good way of doing it.

If you've applied for financial aid for college, you know how much your parents make

This is funny... As a teacher let me tell you... Your kids have a million ways of bragging about your income without knowing the number. One reason you might consider telling them (in high school maybe) is so they can compare the incomes of jobs to the life that creates. Most kids don't know what 50k means cause they can't compare.

My Parents told me what the plan was if something happened to then. But always stated it's not how much money you make it's what you do with it.

This is one of Dave’s best shows. We didn’t tell our kids what we made. I think they sensed it because they had what they needed. We have told them what our net worth is, now that they are in their 40’s. We gave each of them a copy of our trust and a spread sheet of our assets just in case the unforeseen happens to make it easier on them.

My parents never shared their finances with me or my sister and when I became an adult I didn't know Jack diddly squat about real world finances. I think you need to sit your kids down whether you make a lot or a little and explain things to them

I'm 26 and I still don't know what my parents make. All I know is I make more than my mom

My parents started sharing financials with me around 17-18 and I’m glad they did. They didn’t make enough for me to brag about it so that wasn’t a worry, but it gave me a good understanding of the value of money for sure.

For some reason, I never thought to ask what my parents made. I wasn't that interested. I had a great middle class upbringing. I always had name brand clothing. I did find out later when they put me in private high school how tight the budget could get. They gave me one of their old cars to drive and I decided to buy my own with their support. They are the absolute best!!

I never asked my parents what they made. We always had a roof, electricity, clothes and food on the table. Fast forward...my kids never asked either

"There is stress in the air, it is not you, in fact you're the best part of this." Aw jeez man, right in the feels!

Love the daniel story. Anytime we said "my car" in high school, my dad would jokingly respond, "oh, my car im letting you drive?"

Talking about money with my parents has prepared me more than school ever could. Some of the most valuable lessons are when you get real

Here's the only issue with telling your children or even teenage child your income. They may tend to feel entitled to that amount of income when they eventually get a job. They shouldn't worry about their parents income. Sharing a budget with them would be way more beneficial. Living within your means is more practical than living within someone else's means.

Y’all lucky, I grew up with a single mother and she painfully let me know she had a 900$ income every month since I was like 12 and I think that’s one of the reasons/motivation for me to be rich

I think they should absolutely know before college. When I went to college having a decent idea of what my dad made was super useful. Let me know what kind of job I had to look for so that I could have a similar lifestyle to what my parents have.

When our youngest daughter used to ask that question I would answer, "enough." Now she works in human resources at my husband's company, so she knows everything down to bonuses etc. But like Dave, our girls never knew the dollar amount growing up.

I have always known. They openly shared. It was a teachable moment on how to balance a check book and pay bills. I definitely learned from their example.

My Mom showed me my Dad's paycheck after taxes, it was $432 when I was 14 years old. $432 for every week! Never had anything new, except clothes/shoes for school, and you bet we were expected to take care of them. Thrift stores, community food pantry, but as kids we did not see any different, because everyone around us was doing it. When I saw that paycheck, I knew I had to make my goal to be better and do better. Thank God for wonderful parents and my debt free start to life.

I really appreciate the idea of explaining the bills as they are older. That's just great teaching!!!

Tell them as soon as they can understand. They don’t need to be sheltered from money.

12 or 13. Old enough to keep it to themselves. My kid needed an education on how much it takes to live the life they were taking for granted and complaining about.

I was blessed with parents that were very open about what they made encouraged me to never work a 9 to 5. I am very fortunate to have landed a great sales job where I work my own schedule and have done very well. I am very open with my three teenagers. Every month When my commission report releases i share my success with them and we talk about budgeting and saving. I show them where each dollar will go. I brag to them about not having debt. I show them how we are paying off our house as fast as we can. I teach them the Ramsey principal at every teaching moment. I want my kids to be prepared financially more than I was and more than my parents were. I am proud of the money I make and I enjoy sharing that with my wife and kids. My kids are very hard workers have no sense Of entitlement.

My parents business at times struggled and my mom told me this as a kid at times so I ended up worrying about money at times. Made me a person that worried about spending money even when I'm doing great financially. But we still went to private school and had a pretty comfortable life as a kid so I knew overall we were solid middle class to upper class.

I'm 40 and I still don't know my parents salaries! My Dad is retired, and my Mom is about to retire.

There's a certain type of laugh only heard when a dad talks about their kid saying something funny. Make me want to have kids one day!

The only way I knew how much my parents made was when my husband and I passed them in our 20’s. Narcissists hate it when you become successful in life, to the point that they throw it in your face that the only reason you “have it better” is because they suffered and sacrificed for you. Truth is we just chose a different career path and keep an actual budget.

I know how much each of my family member makes since I do their taxes (I’m a CPA). With that said, I also know how much each of them put in retirement and savings. And yes they get unsolicited advice from me 😂😂😂. I talk about finances openly in general. My daughter is still a baby, and I really don’t want her to feel entitled of anything. I won’t even tell her that she has a college fund so that she pushes to get a scholarship like I did. I will teach her how I budget the finances and how much it costs to live the way we live so that she can decide her career path.

I’m making a plan WITH MOM. Gosh dang. So many values I agree with. I love Christ centered people. Thank you!

This is fascinating to me. Growing up, it was never about what you make but rather what did you keep.

I knew how much my parents made at 12 years old. I think they should know so they understand what the family can and can’t afford.

LOL… Your truck costs 10 digits! Well, I don’t feel rich in my truck. My truck costed me four digits and the first digit was below the number five. More scratches than a guy picking blackberries in a bathing suit, and no AC... But it hauls all my landscaping supplies (rocks, boulders, sand, composted manure), and it gets me into the woods on my camping trips with my boys! And I paid for it with cash up front! Still, someday, I hope to get a convertible like a Sunbeam convertible, for my wife and to go on road trips. Preferably without scratches!

Our kids are grown, and I don’t think they know how much money we make. And I’m conflicted in telling them our net worth. One child has a feeling of entitlement. She pays for as little as possible if we are around, and is often asking us to do things that will benefit her. If she knew what our net worth was, she would be calling us cheap for not doing more since we can afford it.

Dave and John are great together.

When they were children we didn't think they needed to know, but we didn't hide costs either. Now that we're old and may need them to administer our estates I send full financial statements each year.

Great applicable advice for me! My kids love asking extra questions. To them a dollar is what cleaning the basement all by themselves is worth. The four year old thinks I clean the basement 320 times to pay the electric bill lol.

My mom was single immigrant mom. I knew we were poor, but now she’s very well off. It was after I had left the house though. 🤣 She always discussed money with me, maybe that’s why I’m so hyper focused on finances. I even work in Finance. Never thought of that link, until now.

What a beautiful and insightful conversation...go vulnerability and wisdom shared.

Top 20 comment! And never. You are never obligated to tell anyone!

I think it's important to tell kids at some point. They need a reference point of salary and what life looks like at that level. Like my son has a ballpark figure to shoot for and he realizes the harder we work, the more money we can earn therefore we have options to buy nice things and enjoy life. Back when I turned 18 I thought 50k was rich.......boy o boy that affects your college decisions negatively, thankfully I switched up and went into the tech field. Not talking about your money is an old head corporate America thing, talking about income takes power from the employer. No one is mad at what you make, it makes them made at who signs their checks.

My 7th grader told me they used a quote from Dave Ramsey in his class today and I got so excited trying to guess what it was. I kept saying “Cash is king, debt is dumb?!?!” Is that it?!?! 🤣🤣 it wasn’t. But he heard many Dave-ism’s from me lol.

Awesome awesome topic ... please consider expanding on it ...thanx

I love the focus brothers

We as people are eager to share how much debt we have and fear sharing how much we make.

Maybe not share the income but let them know how much insurance, school, housing, vacation etc cost (as well as about taxes) so kids can understand what kind of money they will need. They can vaguely understand your income

Every time my parents have told me what they make, I always forget. Income only really mattered when I asked my parents for presents, though they'd often come back with "Sorry that's too expensive".

Actually ... I never have found out and they never taught about money either. They never spoke about it at all aside from 'pay your bills'. 😕

Don’t know why income is taboo.... kinda dumb. I don’t follow this rule.

I never knew how much my parents made growing up. I still don’t know it and don’t want to. I like Dave’s idea about sharing expenses but not income.

My kids are 19 and 24 and still do not know how much I make. My son used to say we were poor. We are not poor but we are not wealthy either. How ever they are both hard workers now because they see how much I sacrificed myself so that we can live in a nice house in a nice neighborhood.

that is a touchy subject. I would think they should know the expenses and the 'budget' but not income or savings until much older. Unless they are the beneficiaries... LOL.

When Dave says they were “doin’ ok” I think it’s a bit of an understatement. 🤣

Growing up I never knew exactly how much my parents made. I just knew they both had well paying iobs and I had nice up bringing.

My parents never taught me about personal finance and it's crazy that they didn't teach us that because my mom is really good with money. Mom & Pop just never taught me anything about money until I was a lot older and I already had really bad money habits.

My parents never told us what they earned, and they didn't teach us to budget either. They did teach us to live without things that weren't necessary (like designer label clothes) because that money was used for other things. Our family valued holidays/ travel - numerous classmates asked us if we were rich because we traveled. It's not just about a budget, but teachings values.

I’m 62 and never knew parents salary........and never asked.

only reason why i know is because my dad was cheap with babysitting when i was a toddler. So, i'd go to work with them (they're carpet cleaners) and I'd be the one coming up with the estimated price to the customers. Good times

I learned when I turned 18 and got into community college. They had to ask to see if we were eligible for any aid

Live within your means.

I'm 21 and my mom and dad still have not told me.

My parents never told me how much they made. We never talked about finances. I had to learn on my own throughout life. If only I would've followed Dave at a younger age.

When you believe they have developed a respect and appreciation for money and hard work!

I can't imagine my parents keeping problems from me. So much screaming over the poor farm economy growing up. My grandparents came over and berated my parents over the farm economy. We drove around all day Sunday afternoons just so they couldn't yell at us. I didn't even have a Gameboy then. It sucked.

I just rememeber overhearing my father talking about his salary with some dude and from then on I knew. But where I come from your housing and some of your kids schooling is subsidized. He never taught me anything about personal finance though, had to binge watch videos on KZfaq and read books to gain the knowledge I have today. Which by calculating his spending behaviors, is far more expansive than his own financial knowledge.

I could tell how my parents made based on the house and cars we lived in. Similar to Dave my dad didn’t tell us exact figures but when you’re being driven to school in 90k cars you know you gotta make at least 300k to buy it

High school. I think I told him, but I dont think he really understood. He graduates with a finance degree this year and asked. I gave him the gross and he was like what I want to know the take home. I told him.

I kinda bragged in front of the kids but my wife quickly stopped me. She is smart, unfortunately she is not financially wise. Anyway, that kinda balances out. We are from India and now our household income is comparable to the one of developed countries like the US. I am thankful to Dave a lot for that.

My Grandparents were relatively successful in business, but I never was able to learn just how successful (Mom doesn't know either), which is a shame because I've thought it would be a fun life goal to try to surpass it.

I've never known and I don't think I even want to know. Doesn't matter.

This was hilarious. Favorite excerpt so far!

I do my girlfriends parents taxes for them, but I still don’t know what my parents make

I found out when I filled out my fafsa, lotta respect.

I found out when I was filling out my FAFSA my senior year of high school.

Never knew how much they made until I got older. Now that I work with my dad in the same spot, so we know each other’s salaries lol. But I grew up watching him budget every week. Checkbook out, receipts out. my parents blessed me with having what I needed and taught me to work for things I wanted.

I agree. Just teach them how to balance the books.

Lol.... my truck was a 4 digit truck when I bought it... and it still is

I’m 29 and I still haven’t a clue about my parents income..not even a ballpark range.. 🤷🏽‍♀️🤷🏽‍♀️

Don't think I'll ever tell my kids how little I make 😂

My mother spent every dime my father ever made. She had a sickness and I knew that even as a little child. I'm an EDM And I'm feeling guilty over spending a few thousand for new kitchen cabinets. . It's terrible what addictions due to families

Tjis is better than the annoying callers asking the same old questions. 🤣🤣🤣

My parents told me ard 16 (upper middle class) I’ve never bragged bc knowing didn’t add or take anything away from my lifestyle

Real talk love this

Two days before you want them to turn into the Menendez brothers.

My kid's didn't know. Not their business, I think financial pressures were mine, not theirs.

You got to want to take care of your kids and love them

Only when my parents bought their house with cash in CA coast , I knew my dad makes good income. They had simple cars, Honda and Toyota.

My Dad never told me what he earned.

From my grandmother: “you don’t put a big head on little shoulders.”

My parents let me know their income probably around high school. It didn't make me feel entitled as they had always made clear under what conditions they would help me through college or just in general. I tried to pay that forward in anyway I could, knowing not every family was in the same position. Later, when my husband and I did financial peace I was able to look back and see that most of the girls I was envious of for their clothes, house, etc were probably in the same income bracket as my parents, but possibly and probably living at the edge of their means.

it must be hard to teach your kids how to appreciate your wealth while not taking it for granted. Many people unneccessarely struggle. Kids do not know what it means to struggle.

I still don’t know how much my parents make but neither do they.

You're not obligated to tell your kids this. I don't know what my parents made. 🤷 Just teach them good financial principles - you owe them that.

I found out when I was 18 when I was applying for college. Had to file paperwork for the fafsa