I have begun going through several resources on money management with the girls. One is from Larry Burkett and another is from Dave Ramsey. We just began “commission” charts and will be making the first week’s payouts later today. It is all very challenging and exciting for them (and me!). Here is another article I ran across this afternoon that encourages me to press on in this very important training work.
Randy Alcorn gives 10 tips for training your children to manage money:
1. Give your children something greater than money – your time.
2. Use life’s teachable moments to train your children.
3. Take a field trip to a junkyard.
4. Teach your children to link money with labor.
5. Teach your children how to save.
6. Get your children started on the lifetime adventure of giving.
7. Provide your children with financial planning tools.
8. Teach your children how to say “no.”
9. Show your children how family finances work.
10. Never underestimate the power of your example.
Read the article here.