4 Smart Ways To Teach Your Kids About Money

We just looked at why we need to teach our kids about money, and so the next question becomes:

How, exactly, do we teach our kids about money?

We get the answers to this very important question in our reading today in Dave Ramsey’s Complete Guide to Money book.

Right now, we’re in the third paragraph on Page 39, under the title ‘Following In Your Footsteps’, in Chapter 2 of Dave Ramsey’s Complete Guide to Money.

And here’s my lesson for the day:

As a parent, your children watch what you do; and also do what you say – so your kids need to both hear money lessons and see money actions coming from you.

As parents, we need to be very intentional about teaching our kids about money.

Which means:

  1. As parents, we can’t keep getting sloppy about money, and expect our kids not to follow in our footsteps – kids watch what we do
  2. We can’t just be doing, and not teaching them what to do (and why), and expect our kids to learn all they need to know about money – kids do what we say, too

Growing up, my parents didn’t have much, and so my siblings and I had to get so comfortable with the idea that my parents wouldn’t be able to provide many of the things we asked for as kids.

They simply didn’t have the resources to provide us those wants and desires.

But our parents made it very clear that if you get a good education, and do well in school with excellent grades, you can go on to get all what you want in life, and even more.

And so, from an early age, my siblings and I knew where our parents’ desires lie – anything that has to do with education and getting better at school.

This obsession with education also trickled down into money in my family. We never had a budget in my home, but we knew how to do a lot with little. I believe money habits like this still follow me to this day.

But much more than the money struggles we had as kids in my home, which taught us to be frugal and spend way below our means…

… I still have very clear memories of my dad teaching us, in the early mornings, about the importance of delayed gratification, being content with what you have, the need to give and save before spending, and why we needed to show mercy unto others – all from a Biblical standpoint.

In short, I credit much of the ‘natural’ money mastery habits I have today to the upbringing I got from my parents.

And, from today’s lesson, I can update my thinking and look at the 4 smart ways I’ll use to teach my kids about money.

From today’s section of the Complete Guide to Money book, Dave lists four areas:

1. Teaching Kids the Connection between Work and Money

2. Teaching Kids How to Save

3. Teaching Kids How to Spend

4. Teaching Kids How to Give

Please understand, as a parent:

Your children watch what you do; and also do what you say – so your kids need to both hear money lessons and see money actions coming from you.

Someone is going to teach your kids about money. It will either be you or some clown who’s after their money – you decide.

That’s all for today, my friend. Next, we’ll continue in the second section of Page 40 of the book.

See you then.


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