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Raising Financially Independent Children

Trying to raise financially independent children? 

Third John 1:4 says, “I have no greater joy than to see my children walking in the Truth.” Amen to that!  But I would add my own corollary…I have no greater relief than to see my children able to pay their own way when they become adults. We all want to help our children financially, but it’s more important to teach them to become financially independent, and here is some advice. Start early teaching them to divide all income into envelopes for giving, saving and spending.  Don’t allow any income to be used without first dividing it into these important categories.  When they’re young, I recommend they give 10%, save 70%, and keep 20% in a spending envelope.

Now of course these ratios change over time. At a certain age you should add in an envelope for investing. Teach them God’s financial principles about debt, saving, giving, planning and being a faithful steward. Armed with this truth, you can prepare them to pay for expenses as they grow older. Things like a cell phone, a car, insurance, and gas. All of these teach important lessons on earning, saving and spending. Plus, they have to learn to anticipate maintenance and repairs. If adult children live at home, give them financial responsibilities and goals to achieve before they move out on their own. Teaching children to manage their money wisely will set them apart from their peers and give them a great start in life. 

Perhaps you missed these vital lessons growing up and your own finances are a mess. If you’re overloaded with credit card debt, contact Christian Credit Counselors. They’ll create a debt management plan specifically for you. For more information call the Crown Helpline: 800-722-1976 or visit online at