This One Gift to Give Your Child

Does your child know how to do a budget? Do they know how to make a budget to become wealthy?

For which of you, desiring to build a tower, does not first sit down and count the cost, whether he has enough to complete it? – Luke 14:28 ESV

One of the Greatest Gifts

One of the greatest gifts, I believe, we can pass on to our children is the gift of learning to budget their money.

When you think of all of the things we feel compelled to teach our children those quick 17-18 summers they are in our house, imagine if one of them was understanding budgeting their money so that when they finally grow up and leave we can confidently know, they’re going to do fine.

Let’s make great stewards out of our children and send them off into this world understanding such a basic principle as spending only what you have and no more.

When kids are little it is our obligation to teach them that you can’t have everything you want. Little kid wants a toy at the store, mature adults tell them know sometimes. It’s not in the budget. I am not going to buy that for you. Christmas is coming soon.

Once they are old enough to work and make money they will need to put this discipline into their own lives. And think of how beautiful that day would be when you saw your child in action, practicing the very thing you taught them. To be able to tell themselves, no, I can’t. It’s not in my budget.

Income – expenses = $0

One of the most amazing things you can pass on to your child is this very formula. Every dollar they earn or receive has a place to go. Dave Ramsey, financial expert, calls it Giving every dollar a name.

Why $0? Because when every dollar is named or designated to a place, there’s nothing left over. And if that $0 hits a negative number, we know that we are planning to spend more than we make.

Let’s raise our children with the expectations and high standard that OUR FAMILY DOES NOT BORROW MONEY! No overspending because when you do, you begin looking for ways to borrow for the difference.

It doesn’t matter if you are completely on track yourself yet. Teach your children this foundational standard and calling for great stewardship of the money God blesses us with to manage.

The blessing of the Lord makes rich… – Proverbs 10:22 ESV

Did you catch my last blog, Sex and Money: What they have in Common? Sex and Money: What Do They Have in Common?

Bible Reference: Luke 14:28 ESV

Bible Reference: Proverbs 10:22 ESV

Featured Image: Photo by kilarov zaneit on Unsplash