Ramsey Expert Warns Parents About Key Investing Mistake
A personal finance expert accepted money for his child and then shared important advice for parents about saving for kids.
George Kamel works with Ramsey Solutions. He is an expert in money matters. Kamel received $1,000 for his newborn son. This gift came from former President Donald Trump.
Kamel then offered strong advice to other parents. He sees a common money error. Many parents invest money for their children. They do this before paying off their own debts.
Kamel showed the math. He explained how this choice can cost families a lot. Parents should focus on getting out of debt first. This includes credit cards and car loans. It also means paying off their home.
Getting out of debt frees up more money. This money can then go towards a child's future. It makes more sense to secure your own finances. Then you can truly help your kids grow their money. This path ensures a stronger financial future for everyone.
Source: Fox Business
