I’m going to go out on a limb here and assume that we’re in agreement on a certain point. I’d love to see our country become an economy that is characterized by saving rather than spending. I bet that you would too, wouldn’t you?
Wouldn’t it be amazing if in 30 years the United States was in the business of investment rather than overconsumption? This won’t be accomplished until as parents we begin to teach our children about the dangers of debt and the freedom that comes with financial independence. All it takes is one generation to change the course of a country. I hope our children are a part of that generation.
In that vein, here are some tools to help us change the culture.
Personal Finance Books
- Dave Ramsey’s The Total Money Makeover – This is a fantastic and highly recommended resource for anyone. Whether you’re just beginning your journey to financial freedom, or you have just paid off your last loan, this book contains helpful insight and tips for becoming fiscally independent.
- Larry Burkett’s How To Manage Your Money – A classic book chock full of wisdom regarding personal finances. How To Manage Your Money includes a biblical case for careful stewardship and eliminating the bondage of debt.
- Larry Burkett’s Complete Financial Guide for Young Couples – We read this as a young married couple and greatly benefitted from the admonition to carefully plan our financial future and act accordingly. This would be an excellent wedding gift or Christmas present for those newly married.
- Larry Burkett’s Money Management for College Students – I haven’t read this, but I expect it is as full of wisdom and insight as the rest of Burkett’s writing. Aimed at college students, this is an excellent resource for teenagers so that they can begin mulling over the responsibility of carefully managing money.
- Thomas Stanley’s The Millionaire Next Door – This is a highly recommended book, often quoted as the inspiration behind many families beginning on the road to financial security.
Teaching Kids About Money
- Dave Ramsey and Rachel Cruze’s Smart Money Smart Kids – Written by Dave Ramsey and his daughter, this book tackles the important issue of instructing kids about managing money and the value of hard work.
- Larry Burkett’s Money Matters for Kids – This book excels at teaching children about the necessity of carefully governing their finances. As with Burkett’s other writings, Money Matters for Kids includes the biblical reasoning behind fiscal management.
I don’t own this money jar (we use the simple tip below) but I have put them in our online cart multiple times. If we do end up purchasing a bank for each of our children, this will be the one we purchase. So far the envelope system below is working for us, but for the younger children (under 7) the money often disappears or switches envelopes. Isn’t that strange?!