Biblically Proven Ways to Teach Your Children About Money

When I was 14 years old, my dad came into the living room one day and said something that made my sister Denise and I look at him like he was crazy.

“Kids, I want you to learn how to run a business.”

We were just teenagers, but in our household, when our parents gave an instruction, we followed it without question. So Denise and I put our heads together and came up with a business idea to present to Dad.

Our plan was to sell snacks and drinks at cheaper prices than the overpriced vending machines in Dad’s office building. We called it “Your Integrity Snacks” because customers had to pay us – no freeloading allowed!

The next day, Denise and I drove her green Mustang to Costco and loaded up the flatbed with cases of Coke, Snickers bars, chips, and other snacks. We set up shop in the office kitchens and waited for customers to come.

To our surprise, people actually bought from us! Each week, we would sort out the money from the little plastic jars, buy more inventory, and continue the cycle. It was an amazing lesson in responsibility, hard work, profit, and – yes – integrity.

About six months in, Dad had to send a company-wide email reminding everyone to pay for their snacks. This is because some people weren’t having integrity. But we ended up with a surplus the next month – I think the guilt money came rolling in!

Looking back, I’m so grateful that my parents empowered us to try something we never thought possible. Your Integrity Snacks taught me invaluable financial lessons that I’ll never forget.

The Importance of Teaching Kids About Money

As parents, it’s our responsibility to teach our kids about money – not the school’s, not the church, and definitely not TV. More is caught than taught, so our kids are watching how we handle money.

It doesn’t matter if you’ve made financial mistakes in the past. Those mistakes don’t have to dictate your future.

They also do not stop you from teaching your kids the right way to manage money according to biblical principles.

We can’t expect our kids to automatically know how to handle money with wisdom. We have to be intentional about training them from a young age, keeping the lessons age-appropriate every step of the way.

“Start children off on the way they should go, and even when they are old they will not turn from it.”

Proverbs 22:6 (NIV)

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The goal isn’t just to raise “good kids” in the present. Its also to equip our children with the knowledge, skills, and values to become finance-wise responsible adults.

With this biblical foundation, they can avoid repeating the same mistakes we made and break the cycle of financial stress.

Age-Appropriate Financial Education

When it comes to teaching kids about money, the lessons should align with their age and developmental stage.

Younger kids can learn the basics of giving, saving, and spending wisely using visual aids like the classic “three jars” system.

As they get older, teach them the value of hard work by paying them commissions. Let kids earn from their chores and responsibilities instead of just giving an allowance.

Provide practical learning experiences, such as encouraging them to save up for a desired toy or electronic. Celebrate their achievements and milestones to keep them motivated.

Involve your kids in basic money management from an early age. The kids will be better equipped for more advanced financial lessons as teens. Lessons like budgeting, investing, and biblical principles of stewardship.

Practical Learning Experiences

One of the best ways to teach kids about money is to give them hands-on, practical learning experiences. This could mean:

• Starting a small business, like Your Integrity Snacks
• Paying them commissions for household chores and responsibilities
• Giving them three jars for giving, saving, and spending
• Encouraging them to save up for a desired item
• Including them in basic household budgeting discussions

These types of activities help kids understand money management skills. These skills like earning, saving, wise spending, and delayed gratification. They also build values like hard work, responsibility, integrity, and generosity.

As the kids get older, you can increase their money responsibilities little by little. You can also have more in-depth conversations about topics like:

• Creating a personal budget
• The dangers of debt and credit cards
• How to save for bigger goals like a car or college
• Investing for long-term wealth
• Biblical principles of stewardship over money

The key is to make it interactive and relevant to their current age and life stage. That’s how the lessons really sink in!

Involving Kids in Household Budgeting

A great way to teach kids about budgeting is to involve them in the household budgeting process from an early age. Here are some specific ways to do this:

• Include them in family money discussions. Share the family’s financial situation in an age-appropriate way and discuss money goals.
• Assign money responsibilities. Task them with managing a small portion of the family’s budget for their own expenses.
• Set savings goals together. Work as a team to save up for a family vacation, new household item, or other shared goal.
• Discuss spending decisions. When making spending choices, explain the thought process behind adhering to your budget.

“The plans of the diligent lead to profit as surely as haste leads to poverty.”

Proverbs 21:5 (NIV)

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Hands-on practice with financial skills like budgeting, discipline, and delayed gratification. This gives kids a huge head start before they have to manage their own money as adults.

Making Budgeting Fun for Kids

While budgeting sounds like a boring “adult” activity, there are lots of ways to make it fun and engaging for kids:

• Use games, apps, and activities designed to teach money skills
• Set up a visual system, like jars or envelopes, to divide money
• Provide small rewards when they reach short-term savings goals
• Let them take the lead in managing their own allowance
• Celebrate financial “wins” like debt repayments or reaching a goal

Make budgeting interactive, visual, and rewarding. This and other routine tasks like budgeting can be turned into a positive learning experience for kids.

They’ll develop a healthy perspective on money and see budgeting as empowering, not restricting.

Teaching Generosity and Giving Based on Biblical Principles

An essential part of a biblical foundation with money is learning the importance of generosity and giving to others.

As parents, we can model and teach these values:

• Live generously. Embody a spirit of generosity by giving your time, resources, and support to those in need.
• Use visual aids. Set up jars for “giving” along with “saving” and “spending” to make the concept tangible.
• Share biblical stories. Discuss parables about generosity like the Good Samaritan or the Widow’s Offering.
• Volunteer together. Find hands-on ways to give back, like volunteering at a food bank or shelter.

“A generous person will prosper; whoever refreshes others will be refreshed.”

Proverbs 11:25 (NIV)

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As our kids learn to be givers rather than takers, they’ll experience the joy of generosity. They will also cultivate a spirit of gratitude and contentment.

Teaching Tithing and Offerings

Tithing, or giving back to God a portion of our income, is another key biblical principle to instill in our children.

To teach this:

• Lead by example. Model consistent tithing and giving from your own income.
• Use visual aids. Set aside 10% in a separate “tithing” jar when handling cash.
• Share biblical stories. Discuss the reasons for tithing based on examples like the Parable of the Talents.
• Practice at home. Have kids calculate a 10% “tithe” from their allowance and set it aside.

“Bring the whole tithe into the storehouse…”

Malachi 3:10 (NIV)

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As kids see tithing and giving in action, they’ll understand it’s an act of obedience, gratitude, and faith – not just a religious chore.

Modeling Biblical Money Values

More than anything, our kids will observe and mimic our attitudes and actions when it comes to money and possessions. We need to model biblical values like:

• Stewardship over resources. View money as a tool from God to be managed responsibly.
• Contentment and gratitude. Find joy in what we have rather than always wanting more.
• Integrity and honesty. Practice ethical financial dealings without cheating or compromising our values.
• Generosity over hoarding. Share our time, talents, and treasures freely rather than clinging to them selfishly.

“Keep your life free from love of money, and be content with what you have…”

Hebrews 13:5 (NIV)

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When our children see us living out these Godly financial principles consistently, it creates a powerful legacy. They’ll be more likely to internalize and carry these values into their own lives.

Key Takeaways

Here are the key points to remember when teaching your kids about money from a biblical perspective:

• Make it age-appropriate and hands-on, using visual aids and practical experiences.
• Emphasize the importance of giving, tithing, working hard, spending wisely, and delayed gratification.
• Share biblical stories and parables that reinforce financial lessons.
• Model godly values like stewardship, integrity, generosity, and contentment.
• Involve kids in saving goals, budgeting, and money discussions.

Patience, consistency, and most of all, God’s wisdom. These character traits can raise the next generation to be wise financial stewards and break the cycle of debt and stress.

Frequently Asked Questions

Q. What’s the best way to give kids an allowance?

A. Instead of just handing out an allowance, pay your kids commissions based on the chores and work they complete each week. This helps them understand the principle of working hard for your money.

Q. At what age should I start teaching kids about money?

A. You can start teaching basic money lessons around age 3-5 using visual aids like jars for giving, saving, and spending. Then build on that foundation with more advanced concepts as they get older.

Q. Should I make my kids tithe or give a portion of their money?

A. While you shouldn’t force giving, it’s wise to teach kids from an early age about tithing 10% and giving offerings generously. Have them practice by setting aside portions of their allowance or earnings. Lead by example.

Q. How can I teach my kids about tithing in a way they’ll understand?

A. Use hands-on examples, like separating out 10% of a pile of coins, snacks, or toys to represent a “tithe.” Share engaging stories about biblical characters like the Widow’s Offering. Emphasize gratitude and giving with a joyful heart.

Q. My kids want expensive things their friends have. How do I teach contentment?

A. Model contentment yourself by expressing gratitude and being satisfied with what you have. Discuss the dangers of materialism and always wanting more. Encourage giving and share examples like the Parable of the Rich Fool. With consistency, contentment can become a habit.

I hope this blog post provides a helpful, biblical foundation for teaching your kids wise money management skills. It’s also helpful in shaping their financial values from an early age.