Teaching kids about money early on will help them financially as they get older.
Parents are the primary influence on a child's future financial well-being.
The good news is 87% of parents with a child ages 8 to 18 have talked to them about money and finances.
Among parents who reported that they had not yet had conversations with their children, 38% indicated that they thought their child was too young; 35% reported that they planned to talk about money or finances with their child in the future.
Parents use a variety of methods to teach their children about managing money.
Observation is one of the biggest ways kids learn about money. They observe their parents working, paying bills, and making purchases.
68% of parents try to be a good example when it comes to managing money.
62% of parents say they teach their children during everyday activities such as trips to the store or bank.
Family meetings can be a way to teach children about financial choices. Talk with children about budgets, loans, and making wise financial choices.
84% of parents say they respond to their children's questions about money.
60% share their own past financial experiences.
53% openly discuss the household budget.
One of the biggest ways children learn about money is by doing. Have them participate in trips to the store and share with them how budgeting relates to shopping. Let them open a savings account. Use occasions when children earn money (lemonade stand, allowance, babysitting, etc.) to teach about spending, saving, and giving.
66% emphasize the importance of saving for purchases rather than going into debt.
60% encourage their children to set aside money for savings or donations.
58% provide hands-on experiences with money.
56% also offer opportunities to practice managing money.
The most important thing parents and the church can teach children about money is about following God's plan for money. Incorporating His wisdom and principles into our finances. If we can help children understand and follow God's plan for money, then we will set them up for a lifetime of obeying God and seeing His blessings in their life.
When was the last time you taught children about God's plan for money? This often gets overlooked or skipped or is not talked about because it is not seen as a priority. But it is vital to help kids learn about how to handle money. We should be talking about this at home and at church.
That's why I created two teaching series about money for kids. These series teach kids that God owns everything. Our money comes from Him. We should honor him with our finances. There are great resources that parents can use at home and teaching series at church.
The first series is Money Talks. In this series, money literally talks. Here's a short video clip from a lesson.
In this teaching series, kids learn...
Week 1 - Money Talks About Owning
Week 2 - Money Talks About Tithing
Week 3 - Money Talks About Sharing
Week 4 - Money Talks About Planning
This series is also great to use if your church is doing an adult series on stewardship such as Financial Peace University. Some of the largest churches in the country have used this series with great results.
Another teaching series about money is Kid Bank President. Here's a short clip from the series.
In this four week series, the Kid Bank President teaches kids how to manage their money with God's wisdom and plans. This is a great series to use when your church is doing a giving series. Lessons include...
Week 1 - Tithing Account
Week 2 - Savings Account
Week 3 - Spending account
Week 4 - Investing Account
Both of these series are available at this link. Check out these great resources that you can use for a Sunday teaching series, a mid-week discipleship class, and plans for family discipleship at home.
