Dave Ramsey Reveals How To Get Wealthy Without Spoiling Your Kids: 'You Start With Gratitude'

Financial personality Dave Ramsey doesn't only teach people about finances. He also discusses Christian values and ties them to financial management. Although Christianity didn't specifically come up in this episode, the importance of building good values came up in a recent episode on "The Ramsey Show."

The caller was the mother of a 22-year-old son who graduated from college debt-free because of his parents' sacrifices. The young adult eventually got a $700 health insurance bill after he didn't go to any of the health providers on the parent's health insurance policy. The parents footed $500 and asked their son to cover the remaining $200.

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However, he refuses to pay the remaining $200, asserting that he feels that the parents should pay for his mistake. He's getting an internship and gets to live rent-free with his parents, and Ramsey wasn't pleased.

Ramsey said that the son is filled with entitlement and needs a reality check. He suggested not letting the kid live rent-free, but the conversation shifted to Ramsey giving everyone advice on how to build wealth and not spoil their kids. 

"You start with gratitude," Ramsey said.

This was one of the insights he shared in the episode that can help parents who want to raise children without spoiling them.

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Teach Your Children Good Manners

Ramsey starts by explaining the importance of teaching your children good manners and some practical ways to go about it. He encourages parents to teach their children to say things like "please" and "thank you" at an early age. Saying these words can help children realize when people are making kind gestures for them and to reciprocate appropriately.

Ramsey also said that the kids should do dishes as soon as they are tall enough. He views doing the dishes as a sign of gratitude. You can expand this concept to other household duties and responsibilities to further build good manners in your children.

Teaching your kids at an early age and having them consistently practice good manners can turn them into mature adults by the time they turn 18. The way you teach your children influences who they become. If you give them everything without requesting that they say "please" and "thank you," it's possible that your children become spoiled as they get older.

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Being Other-Centered Instead Of Self-Centered

Ramsey is an advocate of raising humble children. Humble children can be assertive and stand up for what they value when the time comes, but it comes down to being other-centered instead of self-centered. That's Ramsey's view of the subject.

Teaching good manners and emphasizing gratitude can build a sense of humility in your child. They'll start to get an idea of how hard you work for their well-being, and they may treat you with more respect as a result.  

Charitable giving and volunteering can also make a child more humble. Introducing these experiences to your child during their early years can reduce the likelihood of them becoming spoiled.

Know When You Have To Lay Down The Law

Ramsey told the mom that they don't owe their kid anything if the kid acts like a brat. It's part of having the young adult remember the chain of command. Ramsey also mentioned that if the 22-year-old is big enough to get himself in the mess, then he is big enough to get himself out of the mess.

Parenting sometimes requires a tough-love approach. In this case, Ramsey encouraged the mother to kick him out of the house to teach him to have more respect for his parents. Ramsey also knew that the young adult would listen to the show, and that incentivized him to double down on what he told the mother.

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