Kids Money Management Part I

Parents take your kid's money management seriously because it will influence whether or not they are financially successful adults.  Teach them to be God's little kings, living the Kingdom life in Christ.

 

Keeping your child or children from spending the total amount of money they receive today, will prevent them from living paycheck to paycheck tomorrow as adults.  For instance, if you give your child $2.50 each week and you let them spend $2.50 they will probably grow up spending every penny they earn. This will more than likely teach them to live paycheck to paycheck as an adult..

To insure your kids money management success as an adult, it's important that parents instill in them the right money habits today.  If you've had money problems, you know how difficult it is to break the bad habits that have kept you from taking control over your money.  So you can see how important it is to help your children avoid the problems that are caused by not understanding money and how to make it grow God's way.

It will also be of great help if your child sees you take the same control over your money--even if you're having money problems and are in debt.  Take what spiritual and practical steps you need to fix your money, while showing your children that you are also taking control over the family money for increase and abundance for Kingdom living.  

Here is a simple rule you can follow to help with your kid's money management. Have you child break their earning or money gifts into four parts.  If your child receives a dollar and spends a dollar, she is learning to live paycheck to paycheck. The best defense against financial ruin is to teach your child to divide her money before she spends with this simple rule, 10/10/10/70.

• Give     10% to God for tithing
• Invest   10% giving offerings
• Save     10% for their future
• Spend    70% for wants and needs

As An Adult This System Will Also Work For You

Reminder

Your children need you to be a good money manager example! 

A kids money management habits are based upon what they see their parents do with their money. They will eventually know if they're parents are spenders are savers. While they may choose a better way than you did, most children will take the route of spending because that is what they had learned in their formative years. 

Managing Your Kids Money Management

Teach your child or children to manage their money beginning with an allowance. If you don't believe in giving an allowance you will have to find a way to give them money for jobs around the house.  They can't learn to prosper from their money if they don't have money.  

Just as the world’s wealthiest people teach their children how to financially prosper as adults by learning money principles early in life, this system along with God's wealth plan for Kingdom living will develop an early understanding of how to live from 70% of their income, how to plan ahead and save for major purchases and how to make their money increase through tithing and offerings. 

They do this by:

• Saving 10% for God from all money received
• Saving another 10% for offerings (tithes and offering are different)
• Saving 10 % for long-term savings
• Spends 70% for whatever they want with supervision and wisdom

Please continue.  Go To Part II

Find out about the Money Savvy 4-Compartment Piggy and Cow Banks.

Return: << God's Wealth Plan 4 Kids   Go To  Kid's Money Management II >> Kid's Savings and Tithing Plan >>  Make Your Own 4-Compartment Bank  >>

  

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