5 Godly Financial Principles For Children
Have you realized that we often forget the basics of life? Imagine you instilling those basics in children what kind of generation shall we have?Anyways, let me share with you about Hosea 4:6 “My people are being destroyed because they don’t know me. Since you priests refuse to know me, I refuse to recognize you as my priests. Since you have forgotten the laws of your God, I will forget to bless your children”.
When God stops or forgets to bless our children, we end up having;
- A cursed generation
- Broke and poor generation
We need to re-set our way of raising our children its when we shall have a more descent society. To achieve this, we need to instill Godly financial principles in children. It is never late, you can begin now. Remember these things are not taught in school and so is faith.
God expects these to be acquired from home. Lets take a close look unto how the Jews train their children. We could easily adopt it and change the world through learning from each other. Do not get me wrong, it is mot competition or plagiarism.
5 Godly Financial Principles for Children.
The Jews teach their children how to manage money wisely in order to grow wealth. They demonstrate to the Children using 5 Jars. Today we would call that a Piggy Bank or Home Bank. The Jars are labeled as follows: Tithe, Giving, savings, investment and spending. These jars are the 5 Godly principles we are to learn and adopt because it is proven that they encourage the children not to spend every thing but through wisdom prosper.
Principle one – Tithe 10%
The first Jar/ piggy bank that contains the tithe equivalent to 10% of what is received or earned.
This teaches them from childhood t be responsible with money that does not belong to them. This goes to adulthood, to solve bribery and embezzlement of funds, this principle must be instilled in them from the childhood stage.
Tithe belongs to God. Therefore 10% of all your income has to be given back to God. By the way it is a command that benefits you not God. Leviticus 27:30 (TLB), “A tenth of the produce of the land, whether grain or fruit, is the Lord’s, and is holy.” and Malachi 3:10-12 “Bring the full tithe into the storehouse, that there may be food in my house. And thereby put me to the test, says the Lord of hosts, if I will not open the windows of heaven for you and pour down for you a blessing until there is no more need. I will rebuke the devour er for you, so that it will not destroy the fruits of your soil, and your vine in the field shall not fail to bear, says the Lord of hosts. Then all nations will call you blessed, for you will be a land of delight, says the Lord of hosts.”
Principle two- Giving 10%:
This is our second Giving is an extremely important part of life. We need to teach our children to give to the less advantaged. Give to charity, Parents, This account could also be of help when you have to give towards functions, help someone who is in need, taking care of your old parents etc. This is Biblical, check out 2 Corinthians 9:7 “Each one must give as he has decided in his heart, not reluctantly or under compulsion, for God loves a cheerful giver”. This attracts favor from men and God. You and your child need it.
Principle three – Savings :10%
In this 3rd jar, the Lord is straight forward in his command, Proverbs 6:6-8. “Go to the ant you sluggard. Consider its ways and be wise. It has no commander, no overseer or ruler. Yet it stores its provisions in the summer and gathers its food at Harvest”
Saving money may sound obvious, but many people fail to save. Teaching children how to save when they are young helps them to become financially free at a later stage.
• The secret to financial success is to spend what you have left over after saving instead of saving what is left after spending.
• Identify those areas where you can make sacrifices.Cut down on non essential expenditures.
• Savings will enable you to spend on bigger purchases or Assets that you would never afford.
• Savings will help you to invest your money and earn interest or profits.
• Set goals for your saving. If you save for nothing, you will spend the money on nothing.
Principle four – Investment : 20%
Ecclesiastes 11:1-3 “ Invest your money in foreign trade, and one of these days you will make a profit. Put your investments in several places — many places, in fact — because you never know what kind of bad luck you are going to have in this world…” other versions say “Send your grain across the seas, and in time, profits will flow back to you.”
Imagine how financial truth is right their in our eyes and we have no idea. Dear parent, guardian or caretaker, teach the children how to invest properly and wisely and you will be grateful you did.
Consider the following when it comes to investment;
• when you get into Investment, have a long term view.
• Avoid Investments that promise you quick returns
• But divide your Investments among many places, for you do not know what risks might lie ahead. ( Diversification)
• Don’t start many things at the same time. Master one, then move on to another.
• Farmers who wait for a perfect weather never plant. If they watch every cloud, they never harvest. Never wait for a perfect situation.
• The greatest risk is never to risk at all.
• Invest with advice
• Don’t invest in unfamiliar business
• Avoid Investments with Astounding profits
• Help your children to invest the money they have saved.
Principal five- Spending: 50%
We tend to make this principle the first and last. It is wrong and that’s why we have lots of financial debts. Teach them to master the first four principles and this will be just a walk over. In a lay mans language, the fifth principle comes after you have taken care of your priorities and responsibilities .
Should you have a query after reading this article, just send me an email below and I shall be more than happy to guide.
Remember to share this widely in your networks because knowledge is wealth. You never know who needs this at this particular moment.
I leave you with a quote
“The person who doesn’t know where his next dollar is coming from usually doesn’t know where his last dollar went.”