Caroline Cruz

At CozyEarth.com slash smart money or use the promo code smart money at checkout. This is your best bougie frugal life. It's time. Some of y'all need to upgrade.

Wow.

Because I have a one-and-a-half-year-old. There's not a whole lot I can do at this stage of the game. No, that's right. But as they get older, you'll see it really starts to pick up steam.

So let's start, I think, like three to six. Is that a good starting range?

That felt very like pageant.

A little bit of responsibility.

Yes, and a little chore chart goes a long way. We have Financial Peace Junior that can help with this. But it's fun to say, hey, if you help carrying the groceries, you set the table, you put the laundry in the basket, you get a dollar.

And let them have some instant gratification. Again, they're like three, four, five here.

So just encourage them with some positive reinforcement.

Okay. Did you also know, more importantly, April's National Financial Literacy Month?

Yeah, we heard Amelia talking about how she loves unloading the dishwasher.

Caroline, on the other hand.

And this is where you can start to introduce the idea of commission. You do this, you get paid.

Understand, this is the only three things you can do with money and it's good to do all three.

And that's the key, is by the time they're 12 to 18, they already have the foundation, the principles down. Now they're living it out. They're kind of becoming a little more independent. And it's becoming more real. I mean, they're actually getting paid.

We live it. We breathe it.

They got to figure out what a paycheck looks like, how to get it into their bank account, how to use the money, what happens when you run out of money. If Americans got a hold of this, we would not be trillions in debt.

We just need the basics. It's that hard and it's that easy. So parents have a large role to play. And you wrote a whole book called Smart Money, Smart Kids that is incredible, that really helps outline all of this. So be sure to check that out. We'll drop a link in the show notes.

Absolute heroes.

That's right. And say what you will about California. They recently became the 26th state to require financial literacy in school. We love that.

A little teacher appreciation giveaway.

Yeah, so you can enter to win April 1st through the 30th, 2025. Teachers of any subject, pre-K through 12th grade, and homeschool teachers are eligible. So if you're a teacher, you have a teacher in your life that you love, send them to this website, ramsaysolutions.com slash teacher. No purchase necessary.

So play along at home if you're listening or watching. Drop your score in the comments. If you get them all right, I think you might beat us.

This might be hard.

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Oh, it's a big job. This is a, yes. You feel the pressure? I feel the pressure. Rachel's very competitive, so.

Wow. So she doesn't have enough coffee mugs.

They're playing along at home, Rachel.

For everyone at home wondering why Rachel's ruining the game, this is just who she is. George, you need to pick it up.

So in honor of FinLit season, as we call it in the biz, we decided to bring a piece of our personal finance curriculum to you so you can put your money knowledge to the test.

All right.

It was $250,000. Dad, comment. Oh. $500,000 if it's a joint account. Bonus answer. It's good to know. A lot of joint, we tell people to join bank accounts. What they don't know, they're protected up to half a million.

For account category.

That's the one you actually use to file. Shoot.

If you need to change your withholdings, it's the W-4 form.

Is it fun to tie?

Do you watch a football game where they tie and you go, isn't that fun?

Now we have to go into overtime.

You love anything competitive.

These are pretty hard questions for a high schooler.

I do love when high schoolers go through the curriculum and they go home and they're teaching their parents about personal finance. Yes. Oh, it's the best. So here's what I will say. This is some final thoughts from me. Parents have a lot of guilt and shame and baggage when it comes to money, and there's a lot of things they don't know, and therefore they don't want to talk to their kids about it.

But guess what? That means your kids are going to learn it from TikTok or whatever they heard on the bus if they're not going through our curriculum. And so it's on you as a parent to make sure your kid understands this.

It's important. And the earlier you get it, the better. I don't want anyone out there to go, man, I wish I had this. Well, listen, the best time to plant a tree was 20 years ago. The next best time is today. So it's never too late to learn.

You like that, old man wisdom?

Can I tell you, George means farmer in Greek.

And you guys will play along in the comments. But first, we created a special money quiz for some very special guests. So let's get them up here. Welcome.

Google it.

It's a lavender lemonade mocktail. It has glitter. It does have glitter.

Yeah, unfortunately. I thought the same thing. I'm glad someone's with me on this. I don't care if it's edible. I don't think we should be drinking it. What would you give the drink? I'm going to give it a six.

I want it to be more sour and almost more sweet. It almost isn't enough, but I like it.

We got an eight. All right.

All right.

Okay, here's the last part. Guess how much the drink costs. Just making one of these, how much does it cost when you split it all out? Five. Five what? Dollars? Wow. Okay.

Well, how much did it cost us to make? Not how much would you pay for it at a restaurant.

Yeah, if you split it up. You got all the ingredients, you made it at home. What does it cost per drink?

Five dollars for one lemon?

Okay.

We're getting somewhere.

And it has sugar and water, dried lavender buds, and butterfly pea flower tea. Did you know that's what you were eating, a butterfly? No.

Yeah, that changes your rating, doesn't it? No, it's not an actual butterfly. It's a type of tea.

Should we introduce them? Do the people know who these are?

It's just the name of a flower, and then for some reason they decided to put the flower in our drink, which I think is not okay. Here's what it comes out to. Ready? 23 cents per drink.

Less than a quarter. Unless they would, I don't know why the team would lie to me.

Pretty good.

No. So give it a try this weekend. We're going to put the recipe in the show notes and let us know what it costs you to make because I don't even know where to get these ingredients. Unbelievable.

Exactly.

What if there was a new chore I could give you and pay you $10? Would you pick up dog poop in the yard?

Never?

You used everything you've ever wanted in your life.

I took the pogo stick. You gotta drink it.

The old pogo stick.

Wait, did you get a pogo stick for free?

Very generous of you to donate it to a friend.

Yeah, I would not suggest that. It feels very dangerous.

Okay, so we got a pogo stick.

I feel like you should give her something in return that you're not using.

All right. That's good. She's not going to think about it.

What's your last regretful not used purchase?

That is really sad.

You know what I thought? I thought I could be a sweater guy. And so I bought some like nice sweaters.

And I never pull them out and go, I'd love to put on a sweater today. I'd love to be hot indoors and then regret it and then not be able to take this off. Okay. That's fun. But hey, I'm glad that you have no regrets in life so far.

Not stuff you've bought.

How much are you looking to save? Like what would be a crazy amount if I could save this much?

I don't know.

Yeah, that's true. What are we buying out here for $500? Like a video game system?

But you guys have everything you want. Your parents take care of you.

You're not suffering at all. You're living a great life.

Okay, my one last request. Can I come over for a pool day?

We got it on camera. Can't take it back.

Oh, yeah. Can you teach my little daughter how to swim?

She's only one and a half.

But you're saying you could teach a one and a half year old how to swim?

Sure. I appreciate that.

Well, thank you for answering honestly for the Guiltiest Charge. And we need more of those questions. So for everyone listening and watching out there, DM us your Guiltiest Charge questions you want to see answered on the show at Rachel Cruz and at George Camel with a K. And maybe you'll hear your question in a future episode.

Cheers. Say bye. Thank you.

Who do you think is smarter when it comes to money so far in life?

Dad. Okay. Not the answer I was looking for, but it's the answer I wanted. Between the two of you, are you better at saving money?

Okay. Are you better at spending money? Yes. They're both a gift. They're both a gift.

Okay. So we have some questions that we would like you to answer. We want to make Papa Dave proud. You know what I mean? He's watching right now.

It's because you don't do it. Debt. That's why.

Ding, ding, ding. And where does the money come from that's in the bank?

Well, she's not wrong.

But what's mommy doing right now?

Brilliant.

Wait, do you have a bank account? No. Do you have a bank account?

Do you want one?

I'm George Camel.

One day. One day. Right now, if you get birthday money, where does it go?

Oh, like under a mattress and you have a special drawer?

Where do you put the box?

Oh, that's smart. Yeah. Okay, how about you?

This is an ongoing pattern from this young man. Does he think he deserves this money that you worked hard for, that you were given?

Wow.

What happens when he's tall enough to reach the shelf?

Let's hope he doesn't grow too tall.

What's the most amount of money you've ever seen physically?

Nice. Like my dad. He pulled it out and he was like, hey, 200 bucks right there. Were you impressed?

How much money was that?

Mm-hmm. I love it.

It's good. So people who don't have money, it's nice to give to those who are less fortunate and help people out.

Something's got to go. Yeah.

Depends on what it is.

Okay, this one's about mom. Can you be honest?

If your mom could buy anything in the world right now, what would she buy?

Wow. So she doesn't have enough coffee mugs.

She just likes to have a lot of all of it.

New clothes, coffee mugs, and books. Yeah, that sums it up.

What about your dad? What would he buy?

But first, Rachel, let's talk about what we're sipping on here. This is My Little Pony Became a Real Drink. It's called a lavender lemonade mocktail.

Oh, yeah, a new wrench. So he would, like, go to, like, Home Depot or something and want to get some tools.

Today we're testing our money knowledge with some very special guests. If your mom could buy anything in the world right now, what would she buy?

Oh, yeah, that sounds like him. I've heard he's into rocks.

Okay, so can you go buy a rock somewhere? Do they just have rocks for sale?

Yeah, makes sense. Someone's got to get the rocks and then sell the rocks. What are you saving up for right now?

really nothing you have everything you could ever want yes is there anything you want that mom and dad said no to an iphone oh i buy another like pillow or something like a squish mellow oh i love squish let's talk about target you know your mom spends a lot of time at target a lot of money she donates a lot of money to target and they give her stuff where else does she go

Old Navy?

What about fast food?

Never to the grocery store.

Okay, so you're saying she's lazy, doesn't go to the grocery store.

Maybe.

So a perfect Saturday for mom is she goes to Target, Old Navy. How does she eat? Yeah, exactly. How does she get food?

Instacart. Okay, what about fast food? Do you ever get to go through a drive-thru or something?

I always ask for more glitter in my drinks. That's exactly what I want stuck in my body for an unforeseeable amount of time. It will not escape.

What's your favorite spot?

Chick-fil-A. What's your order?

Yep.

Okay. True. Sometimes she's famished. You know how much an eight-count grilled nugget meal costs?

Guess.

Eight dollars? It's pretty good, actually. Yeah? It's pretty spot on.

That makes sense. It's in the name. They're counting out eight dollars and you get eight nuggets in return. So a dollar per nugget is what you're willing to pay.

Okay.

If you wanted to buy something at Target, how would you get money for that?

How do you earn money as an almost 10-year-old?

Oh, so you take care of the dog and you get some money. Okay, what's the most lucrative chore, the one that would make you the most money?

How much is that?

Oh, she's making double taking care of the dogs. Exactly. Maybe you should switch. Okay, so how much can you make in a week? If you do all the chores, how much could you make in a week if you really worked hard?

Yeah, that's family. That's a family chore. That's smart.

Do you pay mom for cooking ever?

That's what I thought. Some things you just do for the good of the family.

What's your least favorite chore that you get paid for?

What if there was a new chore I could give you and pay you $10? Is there something you enjoy doing that you aren't getting paid for? For $10? For $10. Would you pick up dog poop in the yard?

Oh, that was her one thing when getting a dog.

Okay, can we do some math? I heard you're really good at math.

You hate math.

And you got first place.

In cahoots?

And you're class president as of today.

Be edible. But I know it's called edible glitter, but who's making it? I need answers. This is my conspiracy theory. Well, stick around until the end. We'll give you our rating and reveal the cost per glass at the end of the episode.

Along with Cole.

What did he do to deserve it?

You know what? Take down the patriarchy. That's what I say.

How much money is this? Ready? Count it in your head. Four quarters, one dime, and one penny. What does that add up to total?

Four quarters, one dime, one penny.

So a quarter is how much money?

Four quarters.

Okay, so four quarters, one dime, one penny. What's the total amount?

Okay, do we have another? I think that's it. Any questions we missed that you think are important for the good of the group?

So what you're saying is the things that you want are just wants. You don't really need it. It would be fun to have.

What does he think you need that he thinks you should save for?

Okay, do you know how much?

Yeah, you're going to be driving in, what, six years? That's scary. Do you know how much a car costs these days?

Honestly, somewhere in between. That's Mr. Beast money. You know what I'm saying? Okay, so what do you expect when you get to drive? Who's going to pay for the car? Have you talked about that?

So the husband buys the car. So at 16, you have a husband who pays for the car.

Our birthdays are in the spring.

Okay.

Nobody knows the future. But husband to 16 is a potential. I like this plan. Do you know what car you'd want to drive?

You just want a lot of room for activities.

The iconic Miss Congeniality perfect date. Can you say the quote?

Oh, now we're talking.

Anyone can have a podcast these days.

You're going to do great. So we were just talking about some of our favorite products that we've purchased with Amelia and Caroline, and we've got to talk about another favorite product, which is anything from Cozy Earth.

I feel like you're now a low-key influencer. Yeah.

The blanket is epic. My wife loves the PJ set. And so if you want to get some great quality products for the people you love or for yourself, they're giving our listeners and viewers an incredible deal, up to 40% off.