Personal finance expert Dave Ramsey remembers the moment vividly. After going bankrupt, he and his family finally bought a decent car, one without dents. During the celebratory drive around the neighborhood, his young son leaned back in the seat and said, “We’re doing pretty good.” Ramsey immediately stopped the car.
“We aren’t doing good at all. I’m doing good. You got nothing,” Ramsey told his son. “You’re broke. You just need to know that’s where you’re starting from, b-r-o-k-e, buddy.” He explained that his son’s excitement showed signs of attaching self-worth to material upgrades. Ramsey wanted to make it clear that the car didn't represent his child's financial success; it represented the result of parental hard work and recovery, not a signal that everyone in the family had “made it.”
