How to Raise Children to be Good Stewards with their Money?

Have you ever heard the story about the man who owned the Porta Potty business?

The Boss and the 3 Employees

There once was a man who owned a Porta Potty business. He decided he would leave for Kyrgyzstan (keer-guh-staan) for an extended vacation. He would entrust his Porta Potty business to his three employees while he was gone. So, he called them in.

He gave the first employee five porta potties to be responsible for and manage. He gave the second employee two porta potties. And to the third employee he gave one porta potty to be responsible for. He gave to each according to their ability. Then he left for Kygyzstan.

To the first employee who was responsible for five porta potties, he hurried off to get some business, to rent them out, and earn some money. He made so much money, he was able to buy five more porta potties for his boss.

The second employee who was given two porta potties to manage went out to rent them and earn some money. He did so well, he was able to purchase two more porta potties for his boss.

But the third employee. He decided not to go out. He kept the porta potty in the shop. He watched over it and cleaned it every day. But it never left the shop.

Finally one day, the boss returned. He called all three of his employees into his office to see how business was.

The first employee said, “Boss, I rented out the five porta potties you had me responsible for. They did so well, I was able to buy you five more porta potties.”

“Well done! Well done!” the boss said to the first employee.

The second employee stepped forward, “Boss, I rented out the two porta potties you put me in charge of. They did so well, I was able to buy you two more.”

“Nice job!” the boss smiled and nodded in approval.

The third employee sheepishly stepped forward. “Ah, boss? I kept your porta potty here, in the shop. I cleaned it everyday. I did not rent it out. I protected it until your return. It looks the same when you left.”

The boss looked at the employee. Then at the porta potty. Then back to the employee. His face turned as red as a tomato.

“FOOL!” he shouted. “What a disgrace! How dare you be so careless and irresponsible? I leave for a long time and when I return, you tell me…you did…nothing? Get out of my sight! You are FIRED!”

The third employee ran out, crying.

But to the other two employees, the boss smiled upon them. To both, he gave more. He offered to pay them more. He made them both responsible for more. He praised them both and said, “Good and faithful employees…well done.”

How do we raise children, who leave our house one day, ready to be good stewards with their money?

In my previous blog, How to Teach Children to Become Good Stewards, I attempted to paint a picture of what I believe most of us parents would hope for our children’s lives, as their stand before God, the creator one day. In that blog I said:

Can you imagine, your child, your children, stepping up to the gates of heaven one day, and the creator says to your child, Well done, good and faithful servant.

I believe that learning the habits of stewardship, when it comes to money, in the home is a ladder. It is an accumulation of many tasks and acts. I’m not sure there is one right way to do it other than keeping it age appropriate.

A model that I believe we learn throughout the bible on stewardship involves:

1. Caring for something – both showing care as well as tending to it
2. Respect – showing a respect for that which you are responsible
3. Growing it – expanding something; making it larger than what it was
4. Returning it – or being aware that it is something that will be returned

I will break these down further throughout several upcoming blogs, however, of the moment, I want to mention why I believe most of us parents get so intimidated by teaching our children about money or finding ways to teach about stewardship with our money.

The first is that most of our children are not in a position to work or earn money passed chores around the home mostly, until they grow old enough to work. It gets difficult putting money into action for little kids.

I would say, it’s okay to use other acts of stewardship throughout the house that helps them begin to understand this concept and as they begin to come into money as they grow a little older, you can begin to translate this into their money.

In my blog, This One Thing Will Make Your Kids Money Smart, I shared how mom taught us money in the home at a very young age. I’m not sure if I mentioned there, I was perhaps as young as 5, and she did it for a very brief time and yet those principles stuck with me 35 years later. Be sure to check out that blog.

Practice In Action

This is a topic I will continue to expand on for the days to come. Let me wrap up by giving some quick In Action items, things you can begin today, with your child. Try these things to get started:

1. Be responsible for brushing or cleaning your pet
2. Help do the dishes
3. Learning to be responsible for keeping your room clean
4. Help with watering and maintaining a particular plant in the house

Any other ideas, please feel free to email me at michaelbkopans@gmail.com. I’d love to hear other ways you are teaching your children to be good stewards of their money!

Verse of the day:

His master said to him, “Well done good and faithful servant. You have been faithful over a little; I will set you over much. – Matthew 25:14

Check me out on Youtube – Money Mike.

If you enjoyed this blog you may also enjoy, This One Gift to Give Your Child.

Featured Image Credit: Photo by Julien Maculan on Unsplash

Bible Reference: Matthew 25:14-30 The Parable of the Talents