Tuesday Tip #15 – Money Matters with Kids

We have regular work that our kids do not get payed for. But when I have an extra project that I think they could do on their own or be a big help to me with I will pay my older kids.

Here are my reasons.

#1 Tithe: They are old enough to figure out what a tithe of their earnings is and give that in church so they can learn that practice. (Malachi 3:10)

#2 Offering: They love having extra coins to give offerings or give to the poor in the street. (2 Corinthians 9:7)

#3 Responsibility: It is an opportunity to teach them to value money as we talk about what they might be able to buy with the money they earn, how we as parents purchase items to meet their needs and how much those items cost, and that they will need to earn money when they are adults to pay for things and buy what they want. (Proverbs 20:11, Proverbs 22:6)

#4 Self-control / Savings: It is an opportunity for me to teach them delayed gratification. They know of something that they want to purchase. They find out how much it will cost. Then they start working towards buying that item even though it might take them several weeks of saving. (Galatians 5:22-23)

#5 Godly World View: This last one is a big one for me. It gives me an opportunity to teach them to not be scared of money nor feel bad about having money. They live in a land of lack (third world country). I want them to know that as children of God we must learn to utilize every resource we possibly can to preach the gospel. One key resource is money. I want them to be comfortable earning, managing and having money. (2 Corinthians 9:6-15)

Teaching Tithing: Again, I start letting them earn money for work above and beyond their regular work when they can grasp the concept of the tenth; which can be taught easily with ten coins. You talk with them about the first job that they will be doing to earn money for. You tell them that you think that a fair wage would be 10 coins. After the job is done and you have given them their ten coins (and they feel like they own the world) then you sit down and explain what a tithe is. You give them an envelope and let them write: To God. From _____ (their name). They get to put one coin of the ten in the envelope. Let them put it in their bible to take with them to church the next time you go together. The rest of the coins can be put in a designated place for their money.

Employed: I am so looking forward to when my kids reach the age that they can be doing jobs for other people to earn money too. Some of my fondest memories during my Junior High and High School years are those that took place while doing honest work earning my own money. I hope my kids feel the same.



7 thoughts on “Tuesday Tip #15 – Money Matters with Kids

  1. I love your tips. On the money topic, we have been teaching our boys the give-save-live model with allowance. We added in balancing their savings acct statment before they receive allowance, which includes preparing a deposit under the save category.

    You’re such a great mom!!!


    1. Roxx – You are a great mom, too! My husband was so surprised when I told him my parents taught me how to balance a checkbook when I was in my teens. Savings accounts are super tools.

  2. Wow – you’re such a great teacher, and I love this! My parents didn’t always have a right attitude towards money, and definitely didn’t know how to teach the right attitude towards money (not that they were terribly off, it’s just … they didn’t know). So I feel like it is a challenge for me still to learn, and then to teach my kids someday. You are so wise!

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