Our kids remind us every day of the important role which money plays in our lives. How many times this week have your children asked for or needed money for something school related or for their own desires?

How many times do parents respond to children with some of our grandparents sayings, "Money doesn't grow on trees you know." Or, "Is my last name spelled Rockefeller?"

What's The Problem?

Many parents would love for their children to get the message about money. Some of them are affluent and don't deny their children anything. Others, struggle with choices of what they have to leave out to meet some of these demands.

Many children don't understand the value of money, the effort required of their parents and guardians to earn and save it, and the need to be wise in spending it.

God Bless the Child That's Got His Own

As a grandfather, I have observed in both my children and grandchildren's lives, that they think and behave differently with their own money versus when they're using mine. You can guess which is spent more readily on whim.

However, when they have their own, especially when they've had to work to earn it, they respond and act differently. So, I have made it a point to teach my grandchildren about money by having them earn their own through sales. Here are some lessons they learn:

* The value of a dollar
* Importance of saving
* Basic math skills
* Planning and organization
* Supply and demand
* Creative presentation
* Communication skills
* Customer service skills
* Pride of self and accomplishment
* Ability to take risks (many adults fear rejection)
* Budgeting
* Leveraging
* Teamwork
* Personal initiative and drive
* Money can be made without resorting to selling drugs
* Financial interdependence

These are all lessons young people can learn for themselves when given an environment where it is possible. I learned these lessons very early as a youth, and to this day, I still use them as a work from home entrepreneur.

It is not suggested that the above is the only way to learn these lessons. Many of the qualities above can be learned through sports, music and art and other disciplines.

However, the chances are far more likely that kids will develop greater appreciation, awareness and activities around money when they work with it on a daily basis even if for a short period provided it is long enough them to develop.

What are some creative ways you teach your children to be responsible with money? Are they learning a consumer mentality or how to be productive, fiscally responsible adults?

William Bell is the author of The Re-Examination, A Study of the Lord's Second Coming. He also speaks regularly in Bible prophecy seminars, workshops and teleconferences. Visit his blog at allthingsfulfilled

This entry was posted on Saturday, March 28th, 2009 at 9:39 pm and is filed under Teenagers. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.