 |
 |
 |
 |
|
 |
 |
 |
 |
 |
 |
 |
 |
|
|
 |
 Finances: A Family Affair By Susan Murray, M.A., M.S., CFCS, CFLE, LMFT
By the time I knew the three oldest in high school they were competent participants in managing the family’s money. They knew how much money there was, as well as the values of their parents in paying offerings and paying a tithe to their church. These kids knew what monthly bills their parents received, such as the electric bill and other utilities. They had participated in writing checks to pay those bills so they understood not only how to write checks but also the relationship between leaving the lights on or the thermostat up and how much was owed each month. They knew how to balance the checkbook and justify the bank statement. Wow! It should have been no surprise that they were responsible and resourceful in many ways. Considering economic conditions, the time is ripe for parents and grandparents to actively share their money management skills with their families. Rather than filling children with fear about what they can’t have or may lose, how about getting them involved in productive ways? Children from preschool age on can be productive money managers. In a recent survey 67% of parents believed that financial management was not a priority for their teens, while 60% of teens said financial management is a top priority! I invite you to consider using these resources, depending on the ages of family members: Younger kids can focus on learning to save and on spending behavior at learntosave.com/lessons. Third–sixth graders can check out orangekids.com. Planet Orange doesn’t just teach about money, it shows kids how money affects their lives—now and as they grow up. It gives them good fundamentals so they can really “get” ideas about finance and responsible money management. Teens and young adults can follow the links at bankhs.com/students. You’ll also find videos, books and other resources to use. Consider holding a weekly family-finance meeting. Visit practicalmoneyskills.com and schwabmoneywise.com for budgeting and spending ideas and games. There are many good ideas including if you pay weekly allowances, set specific expectations for what is to be paid for by your children. And don’t bail them out when they overspend. You’ll find some good advice by going to the Children and Money link at financial-education-icfe.org. Handsonbaking.org has specific resources for adults, young adults, teens and kids. For example, if you are planning to start a new small business or already have a small business, you can use ideas form this website to write your business plan; and if your children are old enough, they can be a part of that process with you. Many financial institutions are collaborating with the President’s Council on Financial Literacy that was created in January 2008. Not only does the site provide valuable information for you, there are grade specific ideas for kids from 4-9th grades. Go to mymoney.gov Talk about bargains! Never before have we had so many free resources at our fingertips to assist us in being good stewards of God’s resources as we invest in the kingdom by providing our children with the best education in financial management. ______________________________ Susan Murray is an assistant professor of behavioral sciences at Andrews University, Berrien Springs, MI. Answers © 2010 AnswersForMe.org. Click here for content usage information. |
|
|
|
|
|
 |
|
|
|
|