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Teaching kids and grandchildren about money

By , | Posted - Feb 24th, 2013 @ 10:06am

Family Home Evening is a great time to teach our kids about so many different topics, one of which could be financial literacy.

Educating our children about money matters is more than just a temporal issue, it can have spiritual implications as well.

Parenting expert Richard Eyre shared insight into how parents and grandparents can help teach their children about the subject.

Q. Why is it important for parents to teach their children about money?
A. Inability to handle money wisely leads to a lifetime of worry and problems

Q. How do we teach them to understand the concept of money and the responsibility associated with it?
A. A simple family economy in your home can teach kids responsibility as well as money sense

Q. Years ago, kids who were given everything without having to work for it were called spoiled, these days they're called entitled. Is there a problem with entitlement in our culture?
A. Yes. Kids can understand the concept of "earned ownership" which is the prerequisite to responsibility and the antidote to entitlement

Q. What is the Spiritual application to teaching our kids about money?
A. Knowing that all material things are gifts from God can help kids to see themselves as stewards and to want to give back to God through tithing and giving service.

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