Talking with your kids about finances
When is the last time you discussed money with your teens? I’m guessing unless it was them asking you for money, it’s probably been awhile. Or maybe it’s never happened. Did you know that money is mentioned over 800 times in the Bible? Jesus talked about money more than faith and prayer combined. It’s a big deal! Money, and especially the love of money, has the power to derail our kids in life in profound ways, and it’s our responsibility to teach them how to handle it wisely.
Here are just 3 of the principles I try to teach our kids about money.
- Any money you every have isn’t really yours. Psalm 24:1 says “The earth is the Lord’s and everything in it.” Everything is rather all-inclusive. Psalm 50 explains that God owns the cattle on 1,000 hills but He also owns the hills those cows are standing on. We are stewards of the resources God entrusts to us.
- Money is a tool. It’s not an end in itself. It is a tool that we use for God’s glory.
- Giving is essential. We are commanded in Scripture to give, and we also know that God loves a cheerful giver. I want my kids to become generous. The only way that happens is if we talk about it, and they know that Sara and I seek to be generous. So, we talk about where we give. We don’t get into the specifics of how much we give to various organizations, but we openly model giving for our kids.
Recently, something we’ve done with our older kids is set them up with a Greenlight card. (This post is not sponsored by Greenlight). Basically, GL is a Visa debit card that’s connected to a smartphone app. The teens have a card they can use anywhere, and the parent controls how much money is available on the card. Plus, parents can designate where the money can be spent. Want to make sure you teen always has $25 to only spend at a gas station so they can get home? Easy peasy! As a parent, I get a notification whenever they spend money, and I can see where and how much they spent. It provides transparency and accountability to a really important topic. The service does cost $4.99 per month, but we’ve found it to be well worth the cost.
Whatever steps you choose to take, I would encourage you to be intentional about talking with your older kids and teens about money. Help them to gain a Biblical view of money and stewardship, and you’ll be setting them up for a God-honoring life, no matter how much or little money they have!