Comments on: Christian teen budgeting

By: Christian Personal Finance

Christian Personal Finance — Sat, 20 Sep 2008 16:35:53 +0000

A lot going on……

I just officially got approval from NASB for a project I have been working on… the Bible scriptures podcast… These are basically most of the verses that are in the Bible verses about money page in audio form. To be honest, I just wanted to be able …

By: Marcy

Marcy — Wed, 17 Sep 2008 17:11:45 +0000

One useful technique for teaching money skills to kids is to decide on an appropriate budget for a category–say you spend $200 for your son’s clothing twice a year, for example. So you talk with him about his needs–new athletic shoes, a warm jacket, and new jeans. then give him the money and let him shop. The trick to it is that both you and he understand that if he chooses not to get the things on the list and instead gets two Aeropostale shirts, he does without the shoes, etc. even if it means patching them with duck tape. That $200 is all the budget holds for clothing til spring. I did this with three kids in turn. Two did great, one wore a too small jacket and very dangerous (potential blow-out factor very high!) jeans that first year, but now is a careful and smart shopper. I started with them at age 14–some kids could handle it younger, I’m sure.

By: Rob Viglione

Rob Viglione — Wed, 17 Sep 2008 16:49:38 +0000

Great advice…one of the best lessons you can teach your children (probably earlier than teenage years, though) is that we live in a world of finite resources. When children learn this fundamental axiom of nature then they learn how to develop their own heirarchy of values and allocate resources in accordance with that set. I wrote a similar article in case you want to check it out:

http://www.thefreedomfactory.us/children-must-learn-resource-constraints/

The biggest takeaway is that setting a budget for your children is critical. You can tie that to work if you’d like, though doing so is not necessary. I like to link money to work to show children that you must earn the right to acquire items of value, but the big thing is that they learn they cannot have everything they want.

By: Mo Money

Mo Money — Wed, 17 Sep 2008 14:38:44 +0000

This is good info for teens. Crown Ministries has a program for teens that is based on a class, and it is excellent.

By: Ryan McLean

Ryan McLean — Wed, 17 Sep 2008 11:52:29 +0000

This is a great article. I am just out of my teens and these are things my parents didn’t do for me. But somehow I worked it out for myself which was good. So great article