Learning Money Management

"His master said to him, 'Well done, good and trustworthy slave; you have been trustworthy in a few things, I will put you in charge of many things; enter into the joy of your master.'"

(Matthew 25:21)

As our children learn to manage money, let's permit them to make mistakes on occasion. Under our supervision, children's minor money mistakes may prevent future financial catastrophes. A few guided "hard knocks" lessons will provide confidence as they make decisions regarding money.

For instance, if your child asks for a frivolous two-day toy, (the child's interest in it lasts only two days), allow him or her to purchase the toy with his or her own money. First, help your child look for more prudent purchases; but let the child make the final decision. Later, help your child evaluate the purchase. When you talk about the purchase, you may want to acknowledge that you have made some unwise purchases and that you, also, are trying to learn from your mistakes.

The wisdom from this small lesson in money management may become invaluable as children and their purchases grow.

Questions for Discussion

• What are wise uses of our money?
• Could making wise choices about spending money now allow us to have more money later?
• How do our everyday choices relate to the Matthew 25:21 reading?

Linda Holland is from Helena, Alabama.

Posted in 2003.