A survey of young teenagers found that 56% of them believed that they would become rich during their lifetimes. That’s not too surprising, but this is. The top three ways teens thought they’d get rich were by becoming a professional athlete, winning the lottery, or cashing in on a large lawsuit!
Can you believe it? They didn’t even consider the possibility of becoming financially well off through hard work and wise spending. This demonstrates how important it is for us to train children how to handle money God’s way. Proverbs 22:6 says, “Train up a child in the way he should go, even when he is old he will not depart from it.”
Well, how do we train children to wisely handle money? We need to become MVP parents. That’s an acronym. The M stands for Model. The V for Verbal communication and the P stands for Practical Opportunities.
We need to be models of how to handle money because children soak up parental attitudes toward money like a sponge soaks up water. Paul recognized the importance of modeling when he said, Be imitators of me, just as I also am of Christ” (1 Corinthians 11:1).
Then we must, verbally tell our children why we handle money the way we do. For instance, share with them that you are getting out of debt because Proverbs 22:7 warns us, “The borrower is slave to the lender.” And finally, we should provide kids practical opportunities to apply what they are learning.
Well, if you have children, I pray that you’ll become a MVP parent. You can’t start too soon.
The ABC’s of handling money and the Secret of Handling money God’s way are great tools for parents. They each have a workbook for the child and a practical leaders guide for the parents. You can find them here- http://bit.ly/1BKiiI3
After sharing the Gospel, one of the most important things you can pass on to your children is how to handle money God’s way. The trouble is, a shocking percentage of parents fail to pass along strong money management skills to their kids.
Here are some money lessons your kids should know, and fortunately, it’s never too late to start to teach them.
- Kids need to know that credit cards aren’t free money! Yes, a bill comes every month and if you don’t pay it in full, interest piles up fast. Teach by example and pay off your credit cards every month.
- The biggest “secret” to managing money is to live on less than you make. Otherwise, you can’t save for emergencies or invest for the future. Teach your kids to save every time they receive income.
- Giving. Jesus was right when He said, “It is more blessed to give and to receive” (Acts 20:35). Young children naturally think they’re the center of the universe. Teaching them to generously help those less fortunate is an important life lesson.
- Teach them to manage a bank account. It’s not rocket science. Help them set up an account and teach them how to record transactions, keep the register balanced, and reconcile the account.
- Finally, paying back student loans isn’t fun. In the past, students could borrow their way through school, get a good job and pay back loans quickly. No more! Today jobs are harder to come by and student debts are a lot higher. Teach them to borrow as little as possible. This will help them choose a major or a minor that gives them marketable skills so they can land a job after graduation.
Remember what Proverbs 22:6 says, “Train a child in the way he should go, and when he is old he will not turn from it.” Teaching your kids to manage money God’s way is a gift that will last their whole lives and impact their children as well.
Warmly in Christ,
A recent survey of young teenagers found that 56 % of them believed that they would become rich during their lifetimes. That’s not too surprising, but this is—the three ways they thought they’d become rich.
According to this survey, here are the top three ways teens thought they’d get rich:
First, by becoming a highly paid professional athlete. Second, by winning the lottery.
Third, by cashing in on a large lawsuit!
I couldn’t believe it! A majority of teens believe they will get rich by playing sports or playing the lottery or making someone pay in a lawsuit! They didn’t even consider the possibility of becoming financially well off through hard work and wise spending.
This demonstrates how important it is for parents and grandparents to train children to handle money God’s way. Proverbs 22:6 says, “Train up a child in the way he should go, even when he is old he will not depart from it.”
Well, how do we train children to wisely handle money? We need to become Continue reading Teens Becoming Rich