Confessions of a Poor Money Manager

Part II

Ask your kids: Have you heard about all the money problems going on? Just because our kids hear the same nightly news we hear, doesn’t mean they heard what we heard! Before you start telling, listen to what they are saying. How did they interpret the news? What spin did the neighborhood kids put on it? What did the teacher at school say?

Explain to your kids: There is a right way and a wrong way to do everything! When it comes to managing money we should see what the Bible says. Did you know there are over 2350 scriptures on money in the Bible? As a matter of fact, Jesus had more to say about money than he did about any other subject!

Share with your kids: The scripture says, “The earth is the Lord’s and everything in it!” If God owns everything, then what is our part? Our part is to manage it all for God. Explain the parable of the talents. Each person was given something important, something valuable and something to do. What was the difference between the three people in the story?

Engage your kids: Get a basket and begin putting apples in one at a time. Each apple represents something God has given our family to manage. Ask your kids to identify as many things as they can. WHAT’S IN YOUR BASKET? Well, first He gave us a family. We are managers of our family. It’s our job to protect and preserve our family. What’s next, well, there’s money, friends, influence, natural strengths and gifts, health, time, jobs and etc.

Six simple tips to confidently talk to your kids about the financial crisis in America are detailed in a Kiplinger.com article by Janet Bodnar, Talking to Young Kids About the Financial Crisis. The best two simple tips are:

1. Children live in a black and white world and take you literally! Don’t resort to dark humor about going broke or ending up in the poorhouse. They may not know what a poorhouse is, but they’ll figure it can’t be good! Don’t suggest “we’re all going to end up in a box on the street!”
2. Encourage the kids to pitch in! Let them know up front that their Christmas “wish lists” will have to be shorter this year. They will be happy to do their bit for the family. You were looking for a way to reduce spending this Christmas, weren’t you!

The bottom line is this, be honest with your kids, address the issues at hand including the financial crisis, help them to be informed even when the other kids don’t have a clue.