Why is it important to train my child to handle money? As an adult there are many areas that money can have a major impact; marriage and employment being two. We have seen through many of the financial difficulties of today what can happen if our children grow up with out any training in this area.
As parents we need to process what our philosophy of parenting is on this issue. Are we going to overindulge our children, satisfying their every whim or are we going to focus on training for financial responsibility. Training in this area will mean that there will be times that we have to say no. In this overindulged culture, how do we refocus our children? It begins with an attitude shift. We can start by helping to train our children to be grateful. Being grateful for what we have can be a key point for financial maturity. One way we can help our children see all that they have been given is by teaching them to serve those who are less fortunate. There are many opportunities to do this as we have addressed in the past. It can be as simple as giving a gift on Christmas to a family who doesn’t have as much. Having your children get involved in cooking and delivering a meal to a family. Many churches and ministries such as Sheridan House have opportunities for your family to get involved and serve in the lives of others. Take advantage of these moment and talk to your children about all they have been given Remind them that no matter what our current circumstances there are always those less fortunate.
Listen to today’s podcast for more insight on why it is important to train your children to handle money.