3 Keys to Teaching Your Children Money Management

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3WaytoTeachYourChildren

“I want that!” 

My daughter’s eyes widened as she grabbed a colorful stuffed animal at the toy store. At that moment, a wave of frustration came over me. After I just bought her a toy the day before, I could hardly believe my ears when she wanted something else.

Doesn’t she have enough? I thought to myself. 

Surely she can’t be that consumeristic, could she? 

As her face changed from jubilation to disappointment at my refusal to buy the toy, a startling reality came over me:

I caused her selfish attitude.

I didn’t do it intentionally. My husband and I posed limits on what she could have; setting boundaries and making sure she did not become spoiled. But it was more what we didn’t do that contributed to her “I want” attitude.

As parents, we are not only obligated to lead our children by setting appropriate boundaries, but it is equally as important to teach self-control and generosity as well. 

The difference between spending wisely and wasting foolishly is a hard balance to achieve. But with wise implementation of Scripture, we can raise a generation of children who resist the impulsive tendencies of our society.

Here are 3 things you can do to teach your children how to manage money wisely:

1. Set the example- Self-control is not simply born within us but something we need to train ourselves to practice regularly. Much like fruits growing on a vine, it takes the warm glow of the sun, the thirst quenching abundance of water and a healthy root for fruit to grow. In the same way, keeping our focus on Christ though reading the word and prayer helps the fruit in our hearts to grow largely enough to exemplify to our children.

2. Teach generosity– 2 Corinthians 9:7 says, “God loves a cheerful giver.” Take an honest assessment of where your money goes in your home. Do you give generously to make a difference in the world? Do you give to your church so you can enable the Gospel message to spread throughout the world? Do you give to missionaries? 

3. Make money a teachable moment– If your children are old enough to receive an allowance, teach them wise management from the start. Designate ten percent to go towards your local church or missions fund. Set aside another ten percent for savings. Talk with them and decide as a family what they will do with the rest. Demonstrate to them that money is a family affair not an individual decision. 

With a little creativity and some wise example setting, you can reduce the chances of your child becoming an entitled child to one of cheerful giving. 

Michelle-Luzarek-199x300Michelle S. Lazurek is a pastor’s wife, bible teacher, mother, author and speaker. She gives discipleship tips on her weekly blog post (thediscipleshiptoolbox.wordpress.com), a leads a community group for incourage, and writes articles on leadership for places such as Soli Gloria Deo Sisterhood, Just Between Us and Women’s ministry. net’s Tip of the Week. Please visit her website at www.michellelazurek.com, find her on Facebook at Michelle S. Lazurek or follow her on Twitter @mslazurek.

 

 

 

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Stephanie Shott
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