Handling Money

Welcome to series #3 Handling Money

When my kids became teenagers, it seemed like they were always asking for money for one reason or another. They needed money for a school dance or there was this cute shirt they just had to have. They had no concept of the value of a dollar.


Schools were teaching our kids to read and write, and about science and history. Heck, they were even teaching them to cook and sew and woodworking, but nothing was being done to teach them about handling money.

Kids are graduating high school and even college without knowing how to keep a balanced checkbook. There should be a money management class that starts with a set amount of money in an account ( only on paper of coarse) and for the entire semester, the student is responsible for managing that money. They can be given a checkbook, debit card, and credit card and it is their responsibility to make ends meet without going into debt and over budget.

I know that when my kids used to ask for something and I would say that I didn’t have any money their response was always the same ” just write a check” and today it is ” just use your credit card”.

The Capt. and I decided that we were going to take matters into our own hands and teach the kids money management.

We said that we would give the kids $50.00 a month ( that was in the 90’s) BUT, they were responsible for buying their own school lunches, special shampoos and conditioners, and paying their own way into things like school dances or movies, etc. We sat down with them and helped them come up with a budget and if they followed that budget, at the end of the month, they would have money left over to buy that cute shirt or even better yet, to put into savings. If they didn’t follow the budget, they would either be brown bagging it or going hungry until the next pay day.

They quickly learned the value of money, and it was great to see them wanting so badly to buy something, but then realizing that they will be short at the end of the month, deciding they didn’t need it after all. The Capt. would always say “ask yourself, do you want it or do you need it”.

Money management is one of the most valuable tools you can give to your kids.
If they are good at handling their money, they are less likely to be buried in debt and over spend. They will be less stressed and more confident adults.

What does the Bible say about money?

Romans 13:7-8 Give everyone what you owe him: If you owe taxes, pay taxes; if revenue, then revenue; if respect, then respect; if honor, then honor.

Ecclesiastes 5:5 Better is it that thou shouldest not vow, than that thou shouldest vow and not pay.

Luke 14: 28-30 “Suppose one of you wants to build a tower. Will he not first sit down and estimate the cost to see if he has enough money to complete it? 29 For if he lays the foundation and is not able to finish it, everyone who sees it will ridicule him, 30 saying, ‘This fellow began to build and was not able to finish.’

Life is challenging enough when you are first starting out so let’s give our kids a good foundation to step out into the world on!

If you did not read why I decided to start this series, you can find it here
Series 1 Child of God
Series 2 Problem Solving

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  1. Is Your Child Ready For The Real World « Creative Lady of the House
  2. Being Responsible For Your Actions « Creative Lady of the House
  3. Don’t Smother « Creative Lady of the House
  4. Giving Back « Creative Lady of the House

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