“Loving God, Learning His Word, Living for Christ, Leading Others to do Likewise”

Raising Fiscally Responsible Children

Individuals within the family define that family; families within a community define the community; and their effects then spread into towns, counties, states and nations. The blessings and challenges of any area is a by-product of the homes within their sphere of influence.  

We want a fiscally responsible government.  In the same mindset we must insist that our homes are also fiscally responsible.  Our children must learn about money management.  Gen Z is the demographic name given to current 5-25 year olds and they were preceded by Millennials, which would now be the 26-39 year olds.  I mention these two generations because there is one thing that is touted about them both; their debt and frivolous spending habits.

Photo by Karolina Grabowska

Debt is a form of bondage.  As parents, we must ask ourselves, are we fiscally responsible and thus teaching our children to do the same?  Do I ever “count the cost” of my financial habits and slow down to evaluate and make changes? Dave Ramsey, founder and author of Financial Peace University, suggests that every dollar coming into a household must be spent on paper before it ever flows through your hands to insure good financial decisions and boundaries.  Our children would benefit greatly in being exposed to a balanced budget on paper that covers necessary living expenses (food, shelter and clothing). Moms and Dads should do a budget together and then in full view of their children, work together to stay within that budget.  

The Bible is clear that everything we have belongs to the Lord. Psalm 24:1 (NLT): The earth is the LORD’s, and everything in it. The world and all its people belong to him. How are we managing what He has entrusted to us?  An often misquoted Scripture is:

But people who long to be rich fall into temptation and are trapped by many foolish and harmful desires that plunge them into ruin and destruction. For the “love of money” is the root of all kinds of evil. And some people, craving money, have wandered from the true faith and pierced themselves with many sorrows.

1 Timothy 6:9-10 (NLT)

If we don’t manage our money then more money becomes our focus, which then leads to the love of it.  Money problems are not a result of the money that comes in, but more so a product of what goes out. Good money management and financial planning make sure that what is coming in covers what is going out.  Spending must be curtailed when the money is not there.

Don’t be deceived in thinking that we can love our children with things bought with money.  Love is too precious to reduce it to dollars and cents.  We want to raise children that are financially responsible, which will go far in their “giving back” — being a giver and not a taker

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Anita Blake