Matthew 6:24 states, “…You cannot serve God and money.”
Some will say an allowance is a form of entitlement. When a child has that attitude, that is a form of entitlement. A good way to teach the value of money through allowance is for your family to sit down, write out a family plan, or create a chore chart. Then, detail who will do what and when they will do it. Choose which chores they will be paid for and which chores they will not be paid for but are still expected to do. 2ndThessalonians 3:10 states, “The one who is unwilling to work shall not eat.”
Instead of money – you could swap chores for screentime cards. For every chore they accomplish, they could have whatever you designate for extra screen time. This can show them that in life, you must work hard to receive rewards.
Also, help your child understand the importance of tithing. A tithe is 10% of your income specifically given to your local church. Teaching them at a young age to set aside 10% of what they earn for something will help them not be greedy.
For older children, a green light card is a debit card for children managed by parents. The card is completely controlled by the parents, who can allow specific amounts to be on the card at any given time. It helps children learn how to manage and save their allowance. This can help them, at an early age, save money wisely using a card instead of cash, as many young adults only use credit cards.
There is a product called Financial Peace Jr. that Dave Ramsey created, and it gives parents the tools they need to raise money-smart kids. The kit covers four basic concepts: working, spending, saving, and giving.
Start early by teaching your child the value of a dollar and the value of saving. Proverbs 21:20 wisely states, “The wise store up choice food and olive oil, but the fools gulp theirs down.
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Get a cup of coffee, take about ten minutes to recharge your batteries, and equip your mind so you can raise warriors for Christ that will stand firm in the face of evil! Occasionally, we will be giving away free books – so stay tuned! My team and I are here to serve you all for the glory of our Lord!
