Kids and Money

By Ron Blue
Share on facebook
Share on twitter
Share on pinterest
Share on print
Share on email
Ron Nickel Photography
Your kids can learn more about their monetary boundaries with your help.

Money is one of the most concrete ways you can teach life lessons. By training your children in simple, tangible ways, you will set them up for success — with money and possibly in life.

I raised five children who had five different money styles. My oldest wanted only designer labels. The second hoarded everything. My third couldn’t stand the rigidity of a budget. The fourth wanted to give it all away. And my youngest could make a buck doing anything.

Perhaps your children’s money styles are unique, too. With so many different personalities, teaching our kids financial wisdom can seem complicated and confusing. Where do we start?

1. Your finances

We need to remember that good financial skills are more easily caught than taught. All the talk in the world won’t produce results unless parents model the behaviors they are looking for. Do you wish to see stewardship, generosity or prudence in your child? If you are not pursuing those traits in your own life, your children won’t act them out. Children don’t listen well, but they observe like scientists and mimic like first-rate impersonators!

2. Wise stewardship 

We should teach the five disciplines of wise stewardship: recognize that God owns it all; spend less than you make; avoid debt; maintain savings; and set long-term goals. In our home, we used the “envelope system” to help our children learn good stewardship. Our children all had a set of envelopes labeled “save,” “spend,” “tithe,” “clothes” and “gifts (for family and friends).” Each month, they divided their income into those five envelopes.

3. Practice

By having limited resources and by spending their own money, the kids learned, in a safe environment, the lessons that you and I learn from our budgeting successes and failures. And my wife and I were their advocates in the process rather than their adversaries.

Because money is tangible, it is one of the simplest parenting tools available. You may wish, for example, to teach your children that God is in charge. By training them to tithe, you tangibly point them to God’s ownership of their resources. Or you may want to teach them to recognize boundaries. By using the envelope system, you show them that once money is spent, it is gone for good, and they learn the concept of monetary boundaries.

Copyright © 2010 by Ron Blue. Used by permission.

Share:
Share on facebook
Share on twitter
Share on pinterest
Share on print
Share on email

About the Author

Ron Blue

Ron Blue has been a financial planner and consultant for more than 30 years. He currently leads Kingdom Advisors, an organization that equips and motivates Christian financial professionals to serve the body of Christ by implementing biblical wisdom in their lives and practices, resulting in financial freedom.

You May Also Like

Thank you [field id="first_name"] for signing up to get the free downloads of the Marrying Well Guides. 

Click the image below to access your guide and learn about the counter-cultural, biblical concepts of intentionality, purity, community and Christian compatibility.

(For best results use IE 8 or higher, Firefox, Chrome or Safari)

To stay up-to-date with the latest from Boundless, sign up for our free weekly e-newsletter.


If you have any comments or questions about the information included in the Guide, please send them to [email protected]

Click here to return to Boundless

Focus on the Family

Thank you for submitting this form. You will hear from us soon. 

The Daily Citizen

The Daily Citizen from Focus on the Family exists to be your most trustworthy news source. Our team of analysts is devoted to giving you timely and relevant analysis of current events and cultural trends – all from a biblical worldview – so that you can be inspired and assured that the information you share with others comes from a reliable source.

Alive to Thrive is a biblical guide to preventing teen suicide. Anyone who interacts with teens can learn how to help prevent suicidal thinking through sound practical and clinical advice, and more importantly, biblical principles that will provide a young person with hope in Christ.

Bring Your Bible to School Day Logo Lockup with the Words Beneath

Every year on Bring Your Bible to School Day, students across the nation celebrate religious freedom and share God’s love with their friends. This event is designed to empower students to express their belief in the truth of God’s Word–and to do so in a respectful way that demonstrates the love of Christ.

Focus on the Family’s® Foster Care and Adoption program focuses on two main areas:

  • Wait No More events, which educate and empower families to help waiting kids in foster care

  • Post-placement resources for foster and adoptive families

Christian Counselors Network

Find Christian Counselors, Marriage & Family Therapists, Psychologists, Social Workers and Psychiatrists near you! Search by location, name or specialty to find professionals in Focus on the Family’s Christian Counselors Network who are eager to assist you.

Boundless is a Focus on the Family community for Christian young adults who want to pursue faith, relationships and adulthood with confidence and joy.

Through reviews, articles and discussions, Plugged In exists to shine a light on the world of popular entertainment while giving you and your family the essential tools you need to understand, navigate and impact the culture in which we live.

Have you been looking for a way to build your child’s faith in a fun and exciting way?
Adventures in Odyssey® audio dramas will do just that. Through original audio stories brought to life by actors who make you feel like part of the experience; these fictional, character-building dramas use storytelling to teach lasting truths.

Focus on the Family’s Hope Restored all-inclusive intensives offer marriage counseling for couples who are facing an extreme crisis in their marriage, and who may even feel they are headed for divorce.