Proverbs 22:6 (NIV)
Start children off on the way they should go, and even when they are old they will not turn from it.
Parenting is both rewarding and stressful. The love that you have for your children is unparalleled. However, when you take a step back and recognize that you are responsible for meeting every physical, mental, and emotional need of your children, it can be a bit overwhelming.
With that in mind, it’s worth noting that as a Christian parent, your responsibilities go beyond that.
According to this verse from Proverbs, parents are responsible for teaching their children Godly principles in their youth that will mold them into responsible adults. While there are several spiritual principles that God wants you to instill in your children, there are also some practical ones.
Teaching your children about money is an important step, not only in their progression as a disciple, but it also puts them in a position to be responsible, financially mature adults.
Fortunately, Scripture is filled with financial principles for you to pass along to your children.
Experts indicate that using compartmentalization is a good way to help children organize their thoughts. With that in mind, we’re going to discuss the “box method” for teaching your children how to handle money. Each box will be designated for a different purpose that aligns with Scripture.
The Giving Box
Mark 12:41-44 (NIV)
Jesus sat down opposite the place where the offerings were put and watched the crowd putting their money into the temple treasury. Many rich people threw in large amounts. But a poor widow came and put in two very small copper coins worth only a few cents. Calling his disciples to him, Jesus said, “Truly I tell you, this poor widow has put more into the treasury than all the others. They all gave out of their wealth; but she, out of her poverty, put in everything-all she had to live on.”
The purpose of establishing different boxes for your children is to give them a physical representation of the priorities that God wants them to have about money. While the topic of giving is a bit of a hot-button issue among Christians, there is no denying that God’s Word is filled with examples of God blessing people who prioritized giving to His Kingdom.
This passage of Scripture is an easy one to explain to your children, regardless of their age which makes it a perfect example of God’s version of giving.
The woman who came to the temple with two small copper coins didn’t have much to give. Christ even recognized that she gave out of her poverty. While the religious leaders gave more than her in a monetary sense, they didn’t outgive her internally.
Her willingness to give out of the little bit that she had moved God.
When your children begin to navigate money and giving, this story can be an encouraging one to share. Depending on the age of your children, they may only be able to give a dollar or two out of their allowance.
While older teens often have part-time jobs or some source of income, they still likely don’t have as much to give as you or other adults have. This story allows you to establish two truths regarding giving for your children.
First, this story teaches them the importance of giving, even when they don’t feel like they have much. It establishes the concept of worshiping with your wealth instead of worshiping your wealth. Additionally, this story also shows that God isn’t moved by the amount of money that we give to Him. Instead, He looks at the heart of the giver.
The Saving Box
Proverbs 6:6-8 (NIV)
Go to the ant, you sluggard; consider its ways and be wise! It has no commander, no overseer or ruler, yet it stores up provisions in the summer and gathers its food at harvest.
The Bible talks a lot about money, which is great news for you as a parent. When you have Scriptural references for sound financial concepts that you want to pass along to your children, it provides you with the assurance that you’re steering your children in the right direction.
While we know that the Bible talks a lot about giving to the Kingdom, the Bible also teaches us other important financial concepts. Many people, including adults, don’t realize that the Bible promotes the idea of saving money. That’s why the second box that you should share with your children is the saving box.
This concept is a bit easier to establish with younger children who rely on you to give them an allowance or some sort of financial reward. When your children get a bit older and start working, it’s difficult to make them save money.
In the name of total transparency, most of us struggled with the idea of saving money when we were teenagers with our first jobs. The slightest taste of financial independence made us want to spend, and it does the same for our kids.
That’s why it’s important to teach your children sound financial habits early in their lives. According to a report from CBS News, roughly 60% of Americans don’t have $500 in savings.
While there are several economic factors at work that make that the case, it’s safe to assume that at least some of them simply haven’t made saving money a habit. As a parent, you owe it to your children to teach them the value of saving money early on.
The Spending Box
Psalm 128:2 (NIV)
You will eat the fruit of your labor; blessings and prosperity will be yours.
Finally, it’s OK to teach your children the value of enjoying the money that they have. While God’s design for money management doesn’t include living above your means by going into debt for things that you can’t afford, He isn’t opposed to His people enjoying some pleasures of life by enjoying the fruits of their labor.
The financial structure that you set up for your children is obviously up to you. Most parents introduce the concept of an allowance around a child’s fifth birthday.
According to studies, this is when children begin to understand the concept of money and that the things that they want cost money. If your child picks up on that idea earlier, don’t be afraid to introduce these principles then.
Teaching your children about safe, smart spending habits allows them to start internalizing the idea of living within their means. While you obviously won’t have control of your child’s money forever, you can lay the building blocks that he or she needs to be a financially responsible adult.
Teaching your child that we can’t always buy what we want as soon as we want it not only teaches them the idea of budgeting, but it also promotes a good work ethic, as your children realize that they often have to work more to be able to afford the things they want.
Closing Prayer:
Heavenly Father, thank You for the children You have entrusted to me. Thank You for trusting me enough to be their parent. Also, I thank You for the principles found in Scripture that I can pass on to them.
Help me to explain money to my kids in a way that sets them up to glorify You in their finances. Bless the work of their hands as they grow and mature and prosper them according to their obedience. In Christ’s name, Amen.