Is it possible to teach our kids about how to honor God with money at a young age? Will they even grasp the concepts? Is it worth the effort?
There are many ways to get your kids started on the right path, and it is our duty as moms and grandmothers to start instilling God’s principles early on in their hearts. We are all familiar with the Proverbs 22:6 verse that states, “Train up a child in the way he should go, And when he is old he will not depart from it.” Our hope through all of this is to train our children in such a way that they will long to glorify God when they are older, and not think twice about it!
So where do we begin?
Here are some simple and easy steps to get your kids on the right track, and hey, you might even learn in the process!
Step 1: Teach Your Children about Money Management
Start by setting up an envelope system with them. Determine what their needs might be, and make a “best guess” of what they would spend in each category. You will learn through the process what their actual spending might be. Remember, this is not about “perfection” in handling money, but more about the process of teaching your child how to become responsible.
If you are working with a younger child, start out by giving them envelopes of “play money” that will last throughout the year. Whenever they want something, they can take it out of their envelope of play money for that category, and you can hand them real money in return. Pretty soon, you will begin to see them really consider their purchases, and decide what to hold back on, or what to spend on.
If you are working with older kids, the same principles will apply, but instead, you are giving them real money. Set up a checking and/or savings account with them, and teach them in the process how it all works. Give them the chance to budget through the account. Also show them how to keep track of where their money is going, and give them the chance to do this themselves.
Step 2: Teach Your Children about Giving and Saving
It is important to instill early on in your child’s life that giving is extremely important. Although they may be reluctant at first, their hearts will eventually turn to joyful giving, especially if they are able to experience the joy of the Lord’s work being done. One simple way to do this with your child is to take 10% of whatever they might earn, (chores around the house, allowance, or a job), and give that away. One way to really involve your child in the giving process is to watch what interests them. Do they love being around other children? Donate to a ministry that works to provide food and shelter for other children. Take another 10%, and put that into savings. This will teach them the importance of saving right away, and not wait until the last moment when there is nothing left to save.
Overall, give your children a reason to thank the Lord for what He has done. Continually remind them that the money they might receive is not theirs, it all belongs to the Lord.