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View Count: 271 |  Publish Date: April 05, 2014
Extravagant giving, foolish spending?
Dave Ramsey, Philly.com Business Columnist Posted: Saturday, April 5, 2014, 5:00 AM
Dear Dave,
My husband and I are debt-free, and we have several hundred thousand dollars in savings. We pay for our children and grandchildren to visit during Christmas each year, but my mother thinks this is foolish spending. What do you think?
-Linda
Dear Linda, More coverageMore personal finance advice from Dave Ramsey
Im sure your mom loves you guys a lot, but shes wrong twice on this one. First, she should mind her own business. Second, you guys have obviously worked hard and been extremely smart and disciplined with your finances. For someone in your situation, bringing your family together for one of the most important days of the year isnt foolish on any level. I think its awful that youre even having this conversation with her.
One of my great dreams years ago was to have the ability to do things like that for my family. When I was 22, I worked for a real estate guy who would bring his entire family in from all over the country once a year to go skiing for a week. He and his wife would pay for everything. They would rent a nice chalet, and spend that time having fun as a family and growing closer together. I sort of borrowed that idea a while back. Once a year well take all our kids and their spouses on a nice vacation. We pay for everything, and its just one of our gifts to them because we love them.
So, I think your mom is completely wrong. There are three things you can do with money: spend, save and give. Trust me, giving is the most fun of all!
-Dave
Dave Ramsey is Americas trusted voice on money and business. Hes authored four New York Times best-selling books: Financial Peace, More Than Enough, The Total Money Makeover and EntreLeadership. His newest book, written with his daughter Rachel Cruze, is titled Smart Money Smart Kids. It will be released April 22nd. The Dave Ramsey Show is heard by more than 6 million listeners each week on more than 500 radio stations. Follow Dave on Twitter at @DaveRamsey and on the web at daveramsey.com. Previous Story:Daily Money Tip: Rite of spring: Waiting for a K-1 Dave RamseyPhilly.com Business ColumnistArticles | Twitter | Email #post2 .pw-icon.ra1-pw-icon-reddit {background: url() 0px 0px no-repeat !important;width: 60px !important;height: 20px !important;margin-right:8px;}#post2 .pw-icon.ra1-pw-icon-email {background: url() 0px 0px no-repeat !important;width: 71px !important;height: 28px !important;}0 comments

Time: 12:17  |  News Code: 395170  |  Site: philly.com
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