Manage Your Money God’s Way - Teaching Children about Money and Planning for Christmas NOW

January 14, 2017

First Half – Mistakes Parents make teaching kids about money.

Parents know all the things they have to teach their kids: stranger danger, manners, prayers, and respect for authority, but too often they don’t even think about teaching their kids financial basics. Lack of financial knowledge means the kids will learn money management from our culture, which may make them good consumers but not necessarily good stewards.

Here’s the list of the most common mistakes parents make:

  1. Not making plans about what, when and how you’ll impart basic financial knowledge to them
  2. You and your spouse are not on the same page about finances in your marriage
  3. Showing them how to get into debt by living off your credit cards
  4. Teaching daughters and sons differently
  5. Not reinforcing the difference between “wants” and “needs” when they absolutely think they need whatever the latest thing is
  6. Failing to hold children accountable for their spending mistakes by bailing them out
  7. Neglecting to teach them good work habits
  8. Communicating selfishness by not teaching them to be generous
  9. Not involving kids in household budgets at an appropriate level
  10. Not explaining how advertising manipulates them


Second Half – Christmas 2017 is coming – plan now

Christmas 2016 is over and Christmas 2017 is on its way!

Planning now for Christmas is a good way to stay out of debt.  Start by looking at your bank and credit card statements to figure out what you spent on Christmas 2016.  Add up all the numbers and divide by 12. That’s how much you need to save each month to have a debt free Christmas in 2017.

It also helps to talk to family about the best things in Christmas 2016 – what did they enjoy the most what did the like the least.  Then you can plan to do more of the good and less of the not so good.

Keeping your eyes open all year for presents helps ease the financial burden at the end of the year.  For example, if you take a really special picture of someone, you can print it and frame it for their Christmas present. Or if an item catches your eye during the year that is just perfect for someone, buy it and put it aside for a Christmas present. Red cookie tins and platters will be on sale after Valentines Day and The 4th of July.  Buy them on sale and use them for your Christmas baking gifts. Be aware of potential items for Christmas as you go through the year. By spreading out your Christmas spending and by saving something each month, you can avoid the hectic rush and the money drain during the holidays.


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