Show Them The Money

Even while we were with you, we gave you this command: “Those unwilling to work will not get to eat.”

2 Thessalonians 3:10

HAVE YOU EVER NOTICED IT’S easier to spend other people’s money than your own? The same is true for your children. Your kids probably have no problem spending lots of your money on clothes and toys. But if they earn a dollar, they might spend twenty minutes agonizing over just the right candy bar to purchase.

Many financial experts agree: If you want to teach your children money management, let them earn an allowance. Most parents wait too long to begin. Start the training early. Once your child understands the concept of money and shows material desires, you can introduce an allowance. For some kids, that’s as young as age five.

The sooner your kids learn the relationship between work and money, the better. Many children grow up feeling entitled. That kind of thinking needs to be replaced with an attitude of gratitude and a solid work ethic. The beauty of an allowance is that it is earned, not simply given. Your child’s allowance can be tied into chores and other duties around the house so that everybody wins.

Make sure to explain to your children that all money is God’s, so it’s important to honor Him by giving some back for His work. Saving money for bigger purchases can also be a good lesson in delayed gratification. The Bible talks a lot about money, so you should do the same with your children.

BOTTOM LINE

By passing down sound financial strategies, you can help your children grow up with the right attitude toward money.

Moment of Strength: Luke 12:15