Teaching your kids about money is a challenge and often an overlooked part of the training they desperately need! 

Children, toddlers especially, aren’t ashamed of their selfishness. They’re completely inwardly focused, only concerned about themselves. That’s why a room full of 2-year-olds is full of “me, my, mine!” and why sharing needs to be taught. 

While we may get a little more discreet or tactful in our outward expression of selfishness as we get older, much of the time, the heart attitude remains the same as a child, thinking only of ourselves. 

So, how do we teach our children to be good stewards, as we ourselves are trying to become one?

It all comes down to being intentional about the key lessons to pass on to our children and teenagers preparing for adulthood. Here are the ones that should be your priority: 

Teach them about stewardship.

The Bible makes it clear that we are not the owners of anything. God wants us to recognize that we are managers, not owners, of all we have. He has entrusted resources, relationships, time, and money to us, and He desires that we be faithful in how we manage them to please Him. That means we need to know and apply His principles of financial management. 

Have you ever heard the saying, the biggest lessons in life are generally caught, not taught? Resolve to live as a steward, and your children will inevitably learn how to do the same. It will take intentional conversations and lessons, but they’ll grow up knowing what a steward looks like.

Teach them how to work.

Work is good! It was always part of God’s plan for man to work – He gave Adam charge over the garden before the fall of man. Help your children understand that we were created to work and that it is a blessing. It is a practical way to help them discover the skills and talents God has given them. Excellence, diligence, and humility will equip your child to become salt and light in their workplace.

Give them “jobs” now – chores around the house that will teach them responsibility. Try having two categories of responsibilities – everyday, unpaid expectations, and special paid job opportunities.

Come home thankful for your job every day. Talk to your kids about the blessing of earning an income and working to provide for them. Even on the frustrating days, be disciplined to thank God for your job and teach your children to do the same.

Teach them how to give.

This is the best way to protect your child from becoming materialistic. Generosity will bring your child priceless joy and prepare them to support God’s work in their generation.

Help them set up a plan for giving their first 10% as part of their budget. They can also develop a generosity fund to give above and beyond a regular tithe. Generosity may or may not come easily for your child – focus on the principles that best teach your child God’s intent for generosity.

Remind them that generosity isn’t always about money. They can be generous with their time, their kindness, and their talents as well. Be sure to show your children that you don’t have to have a lot of money to be generous.

Remember to demonstrate generosity. Remember that children learn more from watching how you behave than from listening to your words. Bring them with you as you give generously your time and demonstrate how to serve others. Let them see the family budget and be involved in making decisions. 

Teach them how to save.

Delayed gratification is possibly the best lesson your children can learn about wise money management. Once they have given their first 10% of their chore earnings, teach them to save 50%. 

Talk to them about the difference between saving money and hoarding it. Read Matthew 6:19-21 with them and explain what treasures in heaven mean. Not only will this get them into a great habit, but it will build their savings from a young age. If they want a new game or app, make them wait to purchase it until they have enough money to pay cash for it. You’ll instill in them a great work ethic and discipline to avoid debt.

Teach them how to spend.

The remaining 40% of their chore earnings are for them to spend…. wisely. Talk to your child about the importance of tracking their spending and following a budget. Warn them of the dangers and traps of using credit cards, and openly talk to them about the sacrifices you make to stay on track. Call out phony ads or manipulative sales to help them navigate scenarios in the real world. Teach them the difference between frivolous spending and careful, wise purchasing habits. 

Remind them to do everything with excellence, diligence, and humility.

Get an age-appropriate youth account.

From preschool to high school children, AdelFi offers youth savings accounts with the oversight of 24/7 parent monitoring. Our youth accounts each include a debit card to teach responsible card ownership and sensible budgeting. Our three accounts have age-appropriate features that give parents control over spending limits. With these safeguards in place, it’s never too early to put all you’ve taught them into action.

This article has been adapted for use by AdelFi for the benefit of its audience and in exclusive partnership with Crown Financial Ministries. This article was originally written by Chuck Bentley, CEO of Crown Financial Ministries and was posted to Crown.org. To learn more about Crown’s mission, go to crown.org.