By India McCarty
Dave Ramsey’s daughter, Rachel Cruze, revealed the hilariously-named “401-Dave” plan that her parents used to teach her about money.
“We had the ‘401-Dave’ plan, meaning whatever money we saved, they would match,” Cruze said of growing up with the famed financial planner as a father in a recent TikTok. “And this is a great lesson for your teenagers to learn. Not only delayed gratification, but saving up for a big purchase that they’re very invested in. We will match whatever money they have and that will be the amount of money they have for their first car.”
Cruze also shared some more of her father’s tips, including being paid for chores “on commission,” rather than receiving an allowance. This way, children learn that some chores are meant to be done as part of helping out the household, while others can be extras.
There was also an emphasis on generosity, with Cruze sharing, “After we were paid, my parents always told us that you give first, save second, spend third.”
“Understanding generosity, experiencing generosity, even as a kid, it shapes who you are. It really does,” she explained. “The character building you’re gonna do with your kids — not just the tactical side of money — is as important.”
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Lastly, Cruze said, her parents taught her that “more is caught than taught.”
“You can preach all day to them, but what you’re doing with money, how you experience money, how you handle money, your thoughts around money, your value around money, all of that is being said without you saying anything,” she said. “So the healthier you are with money as a parent, I think your kids take that on as well.”
Cruze has previously spoken about the financial lessons her father imparted on her growing up.
In a 2025 interview with PEOPLE, she shared, “Mom and dad were really intentional with teaching us how money works, but they were not overly helicopter [parents], if you will, with our money. So we did have to earn money. He was really big on that.”
While appearing on the WHO YA KNOW SHOW, Cruze elaborated on her parents’ approach to teaching their children about money.
“I think people have this idea in their head that if you’re Dave Ramsey’s daughter that we talked about mutual funds all the time and had like budget camps in the summer,” she joked. “Thankfully that was not the case.”
Cruze added, “You just talk about life, and money is part of life.”
Cruze’s tips from her parents are a helpful way to start teaching your children the importance of financial responsibility.
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