Ramsey Expert: Don't Invest for Kids Before You're Debt-Free
A Ramsey Solutions expert accepted a gift from Donald Trump, then warned parents about a big money mistake.
George Kamel works for Ramsey Solutions. He once took a gift of $1,000 from Donald Trump. Mr. Trump gave this money for Mr. Kamel's son. Then, Mr. Kamel shared an important lesson for all parents.
He says parents often make a big mistake. They want to invest money for their children. This sounds good, but Mr. Kamel says it is wrong for many families. He thinks parents should focus on their own money first.
Parents must pay off their own debt. Get rid of credit card bills and loans. Be debt-free before you put money away for your kids. This simple step makes your family's financial future much stronger.
Your financial health comes first. When you are debt-free, you can help your children even more. This plan builds a solid foundation for everyone.
Source: Fox Business
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