Participants: Yvonne Lewis (Host), Ryan Mack
Series Code: DAS
Program Code: DAS000005A
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.
00:53 '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.
01:57 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".
02:07 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.
13:14 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.
13:53 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.
15:57 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?
16:26 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.
20:40 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.