Discipline

Discipline

The wise man saves for the future, but the foolish man spends whatever he gets.

Proverbs 21:20, TLB

Managing our money is a challenging discipline for parents and children alike. So how do we teach good principles in this area to our children? A simple method I like involves four clear glass mason jars, which are labeled earnings, God, savings, and spending. Each has a corresponding principle. When a child first earns his money or receives his allowance, he drops it in the earnings jar. It’s good for us to remind our children that everything we have or receive comes from God in the first place.

The second principle we can teach our child is that since Old Testament times, God has asked his people to give some of their earnings back to him. A parent can help a child decide what percent of the money from the earnings jar will be given back to God (the second jar). The purpose of such giving is to teach us to put God first in our lives.

Saving for the future isn’t advice that began with modern investment companies. God advised about saving (the third jar) in the verse above. When our children set aside their spending money (the fourth jar), we can help them avoid impulse buying by suggesting that they think about their purchases for a few days, a few weeks, or a few months. If they’ve thought ahead and priced around, they will appreciate the item or activity much more than if they acted hastily. All these principles help build a more secure child, and they also encourage self-discipline down the road.

God,

Thank you that the earth is full of your riches and your wisdom. Please give us your wisdom as we manage the money we are responsible for. Then we can pass these principles of discipline on to our children. Amen.