U.S. Senate Committee on Banking, Housing and Urban Affairs reported in 2002 that the fastest-growing group of bankruptcy filers was those age 25 and younger (U.S. Congress 2002).
In a 2009 survey on credit card use among undergraduate students, 84% of students said they needed more education on financial management topics, 64% would have liked to receive information about financial management topics in high school (Sallie Mae 2009).
There is a great need for financial literacy among young people.
How can we help our children?
In This Episode We Look At:
- The powerful impact of our influence
- Children quickly pick up our attitudes toward money, whether they are good or bad, healthy or unhealthy. What do your children hear when you talk about money matters? What do your children see when you shop, budget, and pay bills?
- Teach Financial Bible Principles appropriate for their age: Tithing, Helping Others, Saving, and Pleasing the Lord with our finances.
Today’s Resources and Links:
- Money Matters for Kids, by Larry Burkett [Affiliate Link]
- My Giving Bank [Affiliate Link]
- 2 Free Ideas for Kid’s Banks: Idea 1—Idea 2
One Thing You Can Do Today to Help Your Children With Finances:
- Remember that is more important to nurture a child’s heart as you teach them about money, than to manage their behavior. Read the Scripture that applies to the principle you are teaching. This also helps them to hide God’s Word in their heart.
What Are Your Thoughts?
If you have a question or comment about today’s topic, we invite you to share your thoughts.