HELPING CHILDREN GRASP SPIRITUAL TRUTHS BEHIND THE FINANCIAL ONES
[1:07]
- Age-appropriate lessons include introducing the concept of money and work around age three to five.
- Spiritual lessons include understanding that God created everything and that work is a gift from God.
- Gratitude and thanksgiving should be emphasized, as well as the importance of budgeting.
- The three-jar method (saving, spending, giving) can be introduced around age five.
[2:31]
- Saving for the future and generosity are important spiritual principles to instill.
- Around ages 9 to 10, children can learn about earning money and that work is a gift from God.
- Chores can be tied to allowances, teaching the value of work.
- Ages 10 to 15 are a good time to expand on earning opportunities and savings goals.
[3:51]
- Fairness and the principle of "the laborer deserves his wages" can be taught.
- Children can choose a ministry to support beyond their tithe to the local church.
- Ages 16 to 18 involve teaching budgeting, savings for bigger goals like a car or college.
- Introducing the concept of investing through custodial accounts or apps is advisable at this stage.
On today’s program, Rob also answers listener questions:
- I have a potential buyer for my house offering $920,000 with $500,000 upfront and a 10-year financing plan with interest-only payments. Is this a good deal, or should I consider other options?
- I’m thinking of investing in gold, but I'm not sure how much to allocate.
- I’m concerned about the safety of bank deposits and potential tax implications if we pay off our home. What should we do?
Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network as well as American Family Radio. Visit our website at FaithFi.comwhere you can join the FaithFi Community, and give as we expand our outreach.
Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network and American Family Radio. Visit our website at FaithFi.com where you can join the FaithFi Community and give as we expand our outreach.
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