The Value of Planning Ahead

"That food shall be a reserve for the land against the seven years of famine that are to befall the land of Egypt, so that the land may not perish through the famine" (Genesis 41:36, NRSV)

January is a great time to help our children establish new habits such as saving. Small children love placing coins in unbreakable piggy banks. Start savings accounts for older children, encouraging them to add a portion of their allowance periodically. Also encourage your children to save a portion of monetary gifts received from family and friends. You may want to have three banks — one for saving, one for giving, and one for spending.

Because your children's savings probably won't be needed for a famine, allow them to spend some of their savings occasionally on special items that fall outside the family budget. Such expenditures might include spending money for school field trips or vacations, charities, a toy they must have, or an outing to a zoo or an amusement park. Knowing how to manage money to God's glory and to our benefit is one of the greatest blessings any parent can give a child.

Questions for Discussion

• Why do we save money for a rainy day?
• How do we know how God wants us to use our savings?
• What is a good portion of total income for the child (and for parents) to save?

Linda Holland is from Helena, Alabama.

Posted in 2003.