Teaching Kids About Money

Awhile ago I went to a MOPS meeting and the speaker spoke on teaching your kids about money. Her method was this: if your child gets $10, $1 goes to giving, $3 goes to long-term savings, $3 goes to short-term savings (saving for a large item like a bike), and $3 goes to spend (like on candy in the grocery store). I think she also said allowance is given in proportion to year of age.

I don't know about you but I disagree with this method. First of all, I think the proportions are all wrong. I would rather put $3 to giving, $3 to long term saving, $3 to spend on small or big ticket items, and $1 would be up to the child to put in whichever pile. I never got allowance so I'm not an allowance person. Some people ask well what about for chores. I say chores are part of living in this family. Some people ask well what about extra chores like washing the car. I say extra chores are part of giving and serving sacrificially within the family. If the kids want to make money, they need to be creative with their friends or neighbors (like walk the dog, do yard work, babysit for friends and neighbors). But even within that, I would designate that once in awhile, they would have to do a freebie so they could be servants.

Ultimately, what do we want to teach our kids about money. I want to teach them that we need to be wise with money in saving and investing, that we need to give more than expected (more than a 'tithe'), that money isn't everything, and that service and creativity are also a huge part of success in this world. Once you understand your values and philosophy about money as taken from Scripture, you will have a better benchmark of how you want to train them about money. The methods will differ from parent to parent, but hopefully we'll see that what's written in Scripture remains the same. Thus, the principles should be similar. If your method of teaching your kids about money falls in line with Scripture, continue what you're doing. If it doesn't, reevaluate and find what's missing. That will be a challenge to you to see how you're doing with your own money management and stewardship.

As I write this, I am convicted and reminded of how I spend my money as well and need to stop blogging so I can go learn from Scripture some more about what I should or should not be doing. Adios

Where to Find Inexpensive Books

I love books. All kinds of books--but mostly children's books. They're innocent yet thought-provoking, and full of moral values. And the kids love them too. But books can get expensive, even children's books. So here are a few ways I've found to cut the costs:

1. Friends of the Library Shop - Almost every library has a Friends of the Library Shop, a designated area where the library sells donated books to raise funds. I love to get books here. The children's books range from $0.10 to $0.50. The cheapest I've found! It's a great steal. And each week, there's a different variety of books. Of course, depending how big or small your library is depends on the selection of books. But there's a gem hiding somewhere. I found a large hardbound Collection of Disney Stories for $0.50 there. This is my main book buying source.


2. Used bookstores - Here is another great source of inexpensive children's books. You can get books starting at $0.50. I go to the BookMan in Orange, California. They have a great selection of books in every category. Some more expensive than others but there's always steals to be found.


3. Swapmeets - Although I have never gone to them, I know their are booksellers at local swapmeets that have bargains as well.


4. Craigslist.org - You can get great deals here, from books to theater tickets. It's like your online garage sale without the driving around.


5. Garage sales - If you like driving around, garage sales can be fun for treasure hunters. I've found some old 60's Bible story books that my kids love with great graphics.
   

There's always bargains to be found somewhere. I try to never pay full price for anything. I have to think about things that are 50% off too. I always go towards the clearance section or try to find ways I can save at least 75% off the original price. I believe financial stewardship is important and nothing beats the high you get from getting a bargain!