Dave Ramsey's Daughter Reveals the Biggest Money Lesson She Learned From Dad

06/14/2014 02:04 pm ET | Updated Aug 15, 2014

Men are often viewed as the breadwinners and household money managers, but not many people can say their dad is a bona fide personal finance expert. Rachel Cruze, however, is one of the few people who can.

Cruze grew up under the guidance of one of today's most popular and renowned personal finance gurus, Dave Ramsey. His financial influence was so profound, in fact, that his daughter has also become a well-known figure in the personal finance space, recently co-authoring "Smart Money Smart Kids: Raising the Next Generation to Win with Money" with her dad.

In an interview with GOBankingRates, Rachel Cruze explained the biggest lessons she learned from her father and how that advice shaped her own personal outlook on money.

Be Intentional With Your Money


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One of the core principles of Dave Ramsey's personal finance philosophy is that getting out of debt is the key to gaining financial freedom. However, Cruze explained the lessons her father taught her about money management expand beyond remaining debt-free.

"Overall [it was] just learning to be intentional with your money," Cruze told GOBankingRates, explaining that means deciding where your money will go by creating and implementing a household budget, living below your means and planning ahead so you never have to rely on debt.

"Put a plan down on paper," she advised. "You may find that you have more money than you think you do, you're just not being intentional with it."

Regarding the biggest mistakes she sees parents make in regards to teaching their children about money, Cruze said it's not teaching them anything at all due to a fear of inadequacy. "My encouragement to parents is you don't lose your parenting card just because you're not perfect ... you're going to make mistakes and that's okay, but it is still your responsibility."

Robert Kiyosaki Weighs In

The Ramsey family isn't the only one passing down personal finance wisdom. Fellow expert, Robert Kiyosaki, built his entire brand around the lessons he learned from the fathers present in his young life.

"Having two dads -- my real dad and my friend Mike's dad, the man I refer to as my 'rich dad' -- taught me a huge and valuable lesson very early in life," Kiyosaki told GOBankingRates. "I learned that there are two sides to every coin... I learned that I didn't need to believe that there was only one right 'answer,' one way to solve a problem or read a situation or agree with someone else's point of view."

Kiyosaki explained that having these two opposing father figures, who viewed life and money very differently, taught him that a person's mindset greatly impacts the type of life they lead. "One dad was closed-minded in his thinking, often saying 'We can't afford it', [while] my rich dad challenged us to ask ourselves 'How can I afford it?'"

What Money Lessons Did You Learn From Dad?

In honor of Father's Day, GOBankingRates conducted a poll to find out what lessons modern day dads have passed down to their kids, asking "What's the best money advice you learned from your dad?"

The most common money lesson was "Don't spend money you don't have" at 34.4 percent of responses, followed by "Pay your bills on time" (20.1 percent).

Other money lessons included "Save for a rainy day (18.5 percent), "Don't quit your job before you have another" (17.7 percent) and "No risk, no reward. Invest! (9.3 percent)."

It's clear dads play a large role in how their children grow up to view and manage money, but that influence ranges greatly depending on individual father's own personal finance values.

What lessons did your father pass down to you? Was he a positive or negative influence on your outlook on money?

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