May 26

Son, Be a Good Steward of Your Finances

2006 at 12:49 pm   |   by Carolyn Mahaney Filed under Motherhood | Parenting Teenagers

Chad is starting to figure out what his married sisters learned a long time ago about their parents and finances: Dad is generous and Mom is____________.

I asked my 3 daughters to complete that phrase and their answers were: strategic, economical and responsible. Phew! At least it wasn’t stingy, miserly and tightfisted.

Point being, my husband and I approach finances very differently. Our children know it, and even work it to their advantage at times. My girls tell me now that whenever they wanted to borrow money growing up they would always go ask their father. That’s because, when they would go to pay it back, their dad would always say: “No need to pay it back, my love. I only wish I could have given you more.” I on the other hand, would not only keep track of what they owed, I would issue reminders of when it needed to be paid back. I was attempting to teach them to be responsible with their finances.

Though we laugh about the discrepancy between our approach to finances, we hope it will actually benefit our children. (Thankfully, our girls tell us it has!). For we want our children to learn to be both responsible and generous with their finances, since that is the standard Scripture seems to put forth as God-honoring.

So that’s why, today, when I give Chad his weekly allowance, I will remind him that 10% is for tithe, 10% is for special giving, 50% is for savings, and the remaining 30% can be spent with our oversight. And that’s why I have no doubt that if Chad wants to borrow money anytime soon, he will be asking his dad.

The righteous is generous and gives. Ps. 37:21

Whoever gathers [wealth] little by little will increase it. Pr. 13:11b

Honor the Lord with your wealth and with the firstfruits of all your produce; then your barns will be filled with plenty, and your vats will be bursting with wine. Pr. 3:9-10