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Today on MyMoneyLife with Chuck Bentley

Thursday, May 28, 2009

Teaching Children About Money (Pt. 1)

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Chuck Bentley
Are you teaching your children what they need to know about money? Passing along wise financial advice to our kids is always important—but never more important than today in this economy.

A recent CNN/Money survey showed that 78% will teach our kids to be more frugal and 68% will teach our kids to be less materialistic.

Well, that’s fine, but wouldn’t you rather teach your kids what the Bible says about handling money? Now, here are 3 things that I think they should know:

Psalm 24:1 says that God is the owner of everything and that they are stewards of what He’s entrusted to them. When you make a financial decision, explain it to them within the framework of being a good steward. Children need to learn early that being more frugal or less materialistic is not the same as being a faithful steward.
Matthew 6:24 says that no one can serve two masters—you can’t love God and money. Teach your kids who God is and why He should be Master of their lives instead of money.
Philippians 4:11-13 teaches that we must learn to be content in any circumstance and that our true strength comes from the Lord. If you're content, your children will hear you praise God for whatever blessings He gives you and they’ll learn to do the same. That lesson alone will be a lifelong gift you can give now.

We have more biblical advice about teaching your kids to handle money wisely. Visit us at Crown.org.

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