CR 177 : Life Lessons

Hebrews 13:16

16 Do not neglect to do good and to share what you have, for such sacrifices are pleasing to God.

Teaching our children about money starts as early as three years of age. As a society, we need to recognize that we have a serious problem in managing our money. Let's face it, most of us are in trouble when it concerns our money.  So who is responsible for teaching our children about money? 
Without a doubt, it begins with the parent but our school systems need to step up to the plate too. It is imperative that our schools now incorporate "finances 101" at the elementary school level.  Our schools need to partner with parents  if we are to create a shift within our future economy.  Teach our children how to spend money and they will become adults who make wise financial  decisions. How can we teach our children about money at home?
Full details on each described on podcast. Please press orange arrow to begin Podcast message.

1.  Teach your children about giving back to others. 

2.  Begin as early as three years of age to teach financial responsibility.  " Kitchen Jars (3)"

3.  Should I give an allowance or not? Chores?

4.  Use your shopping time as a "money moment" teaching experience.  

5.  Teaching delayed gratification. Do I really need to buy this today?  Do I really need this?
6.  Include your children in the family budget time. Gather at the family table 
     Responsibility in paying bills.
     College Fund
     Clothing Account    
     Bank Accounts for Children, teach them about certificate of deposits, compound interest.
     Teach credit card responsibility.  (The Money does NOT come out of the ATM wall). 
7.  Part-time Job and paycheck.
It is completely up to us as parents whether or not our children will feel "entitled" or empowered  in their financial life.  We are their mirror and what we do our children will eventually mimic.  You -mom/dad are the first and best teacher that your child will ever have so do just that-TEACH them to live a good life including in their finances.  

May this day offer you just what you need in each unfolding moment.                  

Smiles and Hugs, 
Your Rosary Maker   

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