FIRSTFRUITS FINDINGS NEWSLETTER VOL. 9 NO. 6 NOV - DEC 2004 A NOTE FROM THE DIRECTOR “We need to do something about the way our teens handle money.” As we work with churches in our Good Steward Ministry program, we frequently are asked by churches if we have anything that will help teenagers handle money. Having had three boys go through the teen years, our experience has been if we did not start early in their lives with activities we wanted to be habit-forming, it was very difficult for them to change as teens. As I write this, I’m thinking of activities we hope would become habits and didn’t. Anything come to your mind? Clean bedrooms, perhaps? However, teaching sharing, spending and saving had a better chance of becoming a habit when we started talking about it when our boys were young. This month’s FIRSTFRUITS FINDINGS gives young parents some solid suggestions about where to begin. As your children become teenagers, you have a much better chance of them being conscious of sharing, spending and saving than if they were not taught. As I talk to parents who began early with their children, many of them talk about positive results of intentionally communicating with their kids on this important topic. ~ Norm Vander Wel RAISING CHEERFUL GIVERS This is third in a series of articles on “Raising Cheerful Givers”. Helping our children understand financial principles will not only help them manage their money, but also become joyful stewards. ALLOWANCE: A TEACHING TOOL As Howard Dayton states in his book, Your Money Counts, “Learning to handle money one step at a time is part of a child’s education, a part that parents cannot leave to teachers but must direct themselves.” We can begin helping them make wise choices at an early age. When children are too young to “work”, children need a source of money that enables them to learn how to save, spend and share. One such source is an allowance. Ideally, allowances should not be tied to chores, but you may consider paying children to do tasks for which you might otherwise pay someone else. This can be a great opportunity to teach them about the connection between work, tithing and money and help them develop a sense of pride and responsibility in being compensated for achieving a hard-earned goal. Some general guidelines: Many parents start with one dollar per week for kindergartners and go up by one dollar per year through elementary school. As your child enters high school and becomes eligible for outside employment, it is a good idea to discontinue allowances during summer vacation because this will probably motivate your teen to earn some of his own money by having a summer job. When it comes to money, many times parents find it difficult to keep a good balance of giving to their children but also encouraging them to pick up more of the responsibility. This is a personal decision each parent needs to make given the age and maturity of their child. However, the most important thing you can do is to have a plan that is clearly communicated to your child before a crisis of wills occurs. If we always give, give, give to our kids, someday they will experience a rude awakening. Clearly, over-indulgence with things can hinder the development of a child’s character and quickly destroy the need for initiative and motivation. In our affluent society, many of us are giving our kids so many things and spending so much on them, that we may be spoiling their chance of growing into responsible adults. The best response: an allowance. Once your kids have discretionary money of their own, you can begin to say to your child, “If that is what your really want, when you’ve saved enough money, I’d be happy to drive you to the store.” Our next issue will discuss the importance of teaching children how to budget and manage their money. ? FAMILY BUSINESS As Christians, we call ourselves brothers and sisters in Christ. As such, we are a church family whose members love and support each other. However, the church is also a business — a family business. Like other family businesses, in order to succeed its members all need to participate and contribute in various ways to keep things running smoothly. First of all, a congregation must use its talents wisely, just as people starting a business should use their most effective skills. Some members are good at organizing various activities, some are able to provide music, others teach, some provide food, others work with their hands, and all need to pray. Secondly, a congregation must invest financially in their church’s efforts. Contributions are needed for outreach beyond the church doors as well as weekly programs within the church. Just like a home, contributions help simply to keep the church running by providing for maintenance, utilities, office needs, salaries, etc. Thirdly (and perhaps most importantly), “family” members need to donate time. Business entrepreneurs are famous for putting in long hours, especially when they are getting a business started. Likewise, the church family benefits when everyone pitches in with time towards teaching, leading, participating, building, cleaning, mentoring, encouraging, etc. These all require time, sometimes lots of it. Working together takes a good amount of effort, but the rewards are great. Surely, the church’s “family business” has the greatest reward of all: new lives for Jesus Christ. ? TIPS TO TRY CLEVER COST-CUTTING IDEAS TO USE AT HOME Beware of excessive spending over the holidays! Trying hard to eliminate debt? Carry only one card and place it into a small credit-card sized envelope and seal it. On the envelope in large red letters write For Emergency Only. In smaller black writing underneath write Remember Your Debt. This will help you to think twice before using your plastic. Short on cash for Christmas? Try personalized gift certificates: extra bedtime story, help with a chore, foot massage, night off from cooking, free car wash, run an errand, etc. Who doesn’t appreciate these gifts of time and service throughout the year?! Frugal rule to live by — To spend less and save more: Make things last longer, use smaller quantities, find cheaper alternatives. RECOMMENDED RESOURCE Money Matters for Kids By: Larry Burkett There is a great interactive website for kids, teens and parents that helps to teach kids to manage God’s gifts. Check out: www.mm4kids.org There are tips and information on money, interactive games to play, links to other sites, articles, fun quizzes, books and much more. This site makes it easy to navigate into separate areas for teens and for kids.