Parents and grandparents have a unique opportunity to pass down wisdom, values, and faith to their children and grandchildren, including how to handle money from a biblical perspective. With today’s culture promoting instant gratification and excessive spending, you can help the younger generation develop a strong foundation of financial stewardship based on God’s Word. By instilling key biblical principles and providing age-appropriate financial guidance, parents and grandparents can shape the next generation into wise and faithful stewards.
1. God Owns Everything (Psalm 24:1)
Explanation:
The first step in understanding money biblically is recognizing that all we have belongs to God. Teaching our young ones that they are stewards, not owners, helps them view money as a tool for God’s purposes rather than personal indulgence.
Practical Tip:
When you give your children or grandchildren a gift of money, encourage them to dedicate a portion to God through tithing or charitable giving. Helping them start this habit at a young age can foster a lifetime of generous and cheerful giving.
2. Work is Honorable and Provides for Our Needs (Colossians 3:23-24)
Explanation:
Scripture teaches that work is a gift and should be done diligently. While it’s easy to want to spoil children and even more so grandchildren, it may be a bigger blessing to offer them some work and then reward them generously. This can instill a strong work ethic and associate financial blessings with effort rather than just gifts.
Practical Tips:
Younger children can be given simple tasks like tidying up, helping with dishes,
or feeding pets.
Older children might take on more responsibilities like mowing the lawn, babysitting, or assisting with household projects.
3. Save for the Future (Proverbs 21:20; Proverbs 6:6-8)
Explanation:
Wise financial management means spending less than we earn and
avoiding unnecessary debt. Teaching the difference between needs and wants will help
them make sound financial decisions.
Practical Tips:
Consider supplementing gifts to your children or grandchildren with a “matched savings” offer. This could help them save for major purchases down the road.
Offer incentives for them to spend less than they earn. For instance, you could offer to take them to a theme park or to the movies if they’re able to save a certain amount.
4. Invest for the Future (Genesis 41)
Explanation:
The Bible encourages planning and saving, as seen in Joseph’s example of setting aside excess grain for future needs. Teaching children and grandchildren the value of investing helps them prepare for both expected and unexpected financial demands.
Practical Tips:
For your young children or grandchildren, consider investing money on their behalf to help pay for future needs like college. Starting early can take advantage of compound interest and make a significant difference down the road.
For older kids, consider giving gifts in the form of shares of stock or other investments rather than cash to introduce them to investing.
Arrange a meeting with your financial advisor to give your children or
grandchildren an overview of investing.
5. Be Generous (2 Corinthians 9:7)
Explanation:
God calls us to be cheerful givers, recognizing that generosity blesses others and brings joy and fulfillment. Teaching children and grandchildren to give instills gratitude and a kingdom-focused mindset.
Practical Tips:
Give your children or grandchildren some money to give away. Let them choose a person, charity, or mission project to contribute to. Involve your children or grandchildren in volunteering with you in the community. These shared experiences will teach them the value of giving back.
Consider setting up a Donor Advised Fund and involve your family, including children and grandchildren, in making grants to causes and charities meaningful to your family.
I encourage you to sit down with your children or grandchildren and go over some of these Bible
verses with them, sharing how these principles have impacted your own financial journey. For
older children and grandchildren, such as teenagers, consider gifting a Financial Peace
University (FPU) course, created by Dave Ramsey. This program equips individuals with
biblical financial wisdom on topics like budgeting, debt freedom, saving, and giving. An FPU
Gift Card (available at Ramsey Solutions) can be a life-changing gift, helping them gain practical
money skills for a lifetime. You could even offer an incentive for completing the course. For
younger children, explore age-appropriate resources, such as books or games, that teach basic
financial principles from a biblical perspective.
By teaching biblical financial principles, modeling stewardship, and providing valuable
resources, you can empower your loved ones to handle money wisely, honor God with their
finances, and build a secure future. It’s never too early—or too late—to start shaping the next
generation into faithful and responsible stewards!
