Give Now

Teach the Children

What do your kids know about money?

Educating children on how to handle money is only one of the skills you must teach them. Research shows that children form their primary money habits by the age of seven. Like it or not, we teach our kids how to feel, talk about, and use money by our very example. The Bible instructs us to start early. Proverbs 22:6: “Train up a child in the way he should go: and when he is old, he will not depart from it.” So, yes, I believe an allowance should be conditional upon completing chores.

A fundamental lesson of money is that if physically able, we’re instructed to work to cover our own expenses. Working for an allowance teaches the value of effort and how to manage money early in life. My wife, Ann, and I taught our boys when they earned money they needed to give first, save second, and spend last. Ann used simple three-ring binders with three clear pockets inside. They were marked Give, Save, and Spend. The boys allocated 10% to giving, 70% to saving, and 20% to spending. Those amounts changed over time but the basic habits were established that allowed them to know how to budget.

The discipline of giving is best learned in childhood. With the practice of putting God first with our money, we learn to put Him first in our hearts. Consider doing a Bible study as a family that teaches your children Biblical financial principles. This way you can talk about money from God’s perspective in a relaxed environment. Crown has some wonderful resources to help you.

And if credit card debt is keeping you from paying your kids an allowance, let Christian Credit Counselors help. They’ll create a debt management plan just for you. For more information visit