Teaching Children How to Handle Money

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Teaching Children How to Handle Money

• Biblical and Practical Aspects

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• Training people to be financially faithful in
  order to know Christ more intimately and to be
  freed to serve Him.
• Interdenominational ministry
• Church based studies
• Small group emphasis
• Bible study

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Topics

• prosperity
• starting a budget
• setting up childrens bank accounts
• work
• prayer
• saving for your childrens education
• personal guarantees
• should you loan your children money?
• insurance for the car

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Prosperity

• What does the word prosperity mean to you?
• How do you define prosperity?
• Are you prosperous?

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• If you earn the average wage in New Zealand
• You are the 593,045,403 richest person in the
  world!
• You're in the TOP 9.88 richest people in the
  world!
• Poorest Richest
• Average weekly wage 886.00 (680.80 after tax)

Average New Zealander
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What would the global rich list say about you
(www.globalrichlist.com)You are the ? richest
person in the world! You're in the TOP ?
richest people in the world! Poorest
Richest
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Starting a Budget

• Young children giving and spending money
• Older children - three jars spending, saving
  giving family jar
• Teenage years an allowance covering
  giving,clothing, entertainment, transport, gifts,
  savings

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Megans allowance
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• Opening Bank Accounts
• Parents signatories up to 7 yrs
• EFTPOS card at 14 yrs
• Shop around for the best bank
• IRD registration required

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• Work
• Pocket money not necessarily linked to jobs
  chores a family responsibility
• Model the value of work for building character

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• Prayer
• Seeking the Lords guidance
• Experiencing His provision through prayer
• Answered prayers supernaturally

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Saving for Childrens Education

• Pay off mortgage
• Dedicated savings
• Scholarship Fund
• Savings Account
• How Much?
• What about larger families?

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• Personal guarantees for loans
• Is borrowing permissible
• Should I loan money to my children
• Insurance for the family car

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Money and Marriage
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Ours (and His), not mineOwnership or Lordship

• Transfer ownership of our possessions to the
  Lord
• Even our talents and ability to earn are God
  given
• A husbands and wifes income should be merged
  and shared
• One in charge of keeping budget

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Communication

• Being different is not inferior men must
  include wives in financial decision making
• Lack of training combined with lack of
  communication can be disastrous
• Set specific goals together
• Get help

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Specific Principles

• Keep your finances current
• Avoid indulgence
• Prepare for unexpected decreases
• Let peace rule
• Consider whether it is better to give and not loan

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• Dont give personal guarantees
• Avoid speculative investments and gambling
• Keep Christian witness

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Resources

• Biblical Financial Study
• Discovering Gods Way of Handling Money
• Family Financial Workbook
• How to Manage Your Money
• Your Money Counts
• Free and Clear