Rachel Cruze, daughter of Dave Ramsey, will share personal stories of growing up in the Ramsey household.
Rachel Cruze wanted the same thing her teen peers had, nicer clothes and a pretty purse among other material possessions. “I was a full blown drama person,” Cruze said. “As a teen, for a girl, it was hard.”
There was more, Cruze said. “In high school we had to pay for half our car. I was like, ‘They get a car, why don’t you buy me a car?’”
Cruze will expound on her lessons becoming financially independent Thursday with her father, Dave Ramsey, during their “The Legacy Journey” stop at Brookwood Church in Simpsonville. The event begins at 7:30 p.m. and tickets remain available online.
Cruze will share personal stories of growing up in the Ramsey home. The principles, steered to parents, are the ones she learned in her youth that helped her grow up with a healthy view of money and solid work ethic.
Ramsey is considered America’s trusted voice on money and business. He’s authored four New York Times best-selling books: “Financial Peace”, “More Than Enough”, “The Total Money Makeover” and “EntreLeadership”.
Cruze doesn’t remember when her father hit rock bottom, filing for his second bankruptcy, when she was six months old.
“We wore consignment clothing. We would have loved to take nice vacations but we went camping,” Cruze said. “(My parents) were very cautious. We lacked luxuries but they instilled in us the working old-fashioned mentality in our youth. My dad did get out of his rusty old car, but he invested a ton and did that like crazy.”
Cruze said she will speak straight forward with anecdotes what it was like as a daughter in the Ramsey household.
The Legacy Journey is a followup to Ramsey’s Financial Peace University. Ramsey and Cruze will discuss how to build wealth and safeguard a legacy.
Cruze hit on several topics:
• The Legacy Journey: “(Financial Peace University) was a wake up call. This (The Legacy Journey) is about growing up. It focuses on retirement and growing up for future and investment.”
• Health insurance: “A lot of my focus is getting out of debt. I suggest getting health care because the number one cause of bankruptcy is medical bills.”
• “We tell people to plan for growing old, their legacy. They need to take care of core needs – food, shelter/utilities, transportation and clothing. These costs rise every single year and you must make sure you have those covered.”
• Job market: “It is turning every 17 years. Educate yourself and be aware of what is going on and set goals. Don’t let the past make you fearful and don’t be fearful of the future.”
• Student loans: “I call it the student loan curse. The average graduate owes $35,000 for a student loan / credit card debt. Graduates may only be making $35,000 a year to pay down credit, credit card payment, car loan.”
• Work history: “It is important to have a work (history) on your resume than going into debt by getting a degree from a ‘name’ college. When employers look at a resume, they are looking for work history.”
• Local education: “(Debt) is a huge mess coming out of college. No study has shown where you go to school guarantees success. It’s not reality. Go to an in-state school or community college for a year or two and then apply for a university. College students should work 20 hours a week. It is possible to graduate from college and be debt free.”
Cruze said, “working with your money is behavior. You need to have a plan in place. Networking is also pretty important. A lot of who you know makes a difference.”