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CHILDREN

TEACHING OUR CHILDREN THE RIGHT WAY TO MANAGE MONEY

We need to get our kids started EARLY when it comes to handling money. We as adults/parents can sometimes be horrible examples for our children. When we think we need something, we whip out our credit card for that great new product. And don't expect schools to teach our children how to manage money. If you wait too long, the only people who will be teaching your kids about money are the Visa and MasterCard representatives.

Proverbs 22:6 (ESV) Train up a child in the way he should go; even when he is old he will not depart from it.

That verse is so important in so many aspects of life INCLUDING money. We need to be faithful in a few things or with a few dollars. If you can train your children to be faithful with the few dollars that they earn in an allowance or from doing odd jobs, they will be faithful when they are earning money on their own and raising their own families. There are some great books on teaching your children good money management and on learning biblical principles. Email me if you would like a list. Teach your children or grandchildren to be givers and savers and to realize the many blessings that they have. Teach them the pitfalls of having debt, and teach them the great principle of interest.

If you knew how to handle your finances when you were eighteen years old, how would your life be different today?

Give your children the advantage that you may not have had. Don't just tell them, but show them. Spell it out on paper or give them real life examples, depending on the age of your child. Your child will thank you years from now.

SAVE ALL YOUR CHANGE, SAVE $$$, AND HAVE FUN!

Here is a way to save some money and have fun with your children at the same time.

Save ALL your change. DON'T SPEND IT. Just put it in a jar at the end of the day. It really adds up; plus, you will spend less on vending machines. Once it's full, or after a few months, have some fun with your children. There are LOTS of things that you could do depending on your children's ages. Teach them how to count change and how much each coin is worth. They could help you sort the change and get a "commission" of 5% for separating it all and rolling it for you.

Something that is really quite funny with the right aged children is to ask them "Would you rather have a $1 bill or 5 quarters? And they will almost always chose the $1 bill. This is a great way to show them the value of money, and you could have fun for a couple of hours sorting, counting, and learning about the that $$$ God gives us.

It is also a great way to show them the power of interest, both for their savings and for their borrowing. You could give them $1 but then charge them 25 cents a minute in interest until they pay it back. You could also do the opposite for any money they give you as interest.

IT IS SO IMPORTANT TO TEACH OUR CHILDREN THE RIGHT WAY TO USE THE MONEY THAT GOD GIVES THEM. These little object lessons with change could have a HUGE impact on your children's' future spending and saving habits.

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Thank you

Steve Hoven
alleycatnews@aol.com

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