93 – How to Teach your Kids about Money During Back to School Shopping – Part1
It’s time for back-to-school shopping and with it comes a special opportunity to teach your kids about money!
In the first part of a two-part series I focus on an invaluable opportunity: teaching your children about money during this shopping season. Back-to-school shopping isn’t just about supplies; it’s a chance to instill essential financial values in your children. The financial behavior you exhibit is shaping their future habits. So, join me as we explore practical ways to make the most of this teaching moment. Get ready to equip your kids with lifelong biblical financial wisdom as we navigate this back-to-school journey together.
In this episode, John discusses:
- Teaching kids financial wisdom through back-to-school shopping
- The importance of parental influence on children’s financial habits
- Using biblical principles to teach kids about money
- Four actionable tips for parents to instill money-savvy behavior in their children
- Five teaching topics and a three-step approach
- As parents, leverage the opportunity of back-to-school shopping to instill core biblical principles and practical money habits that will shape your children’s financial behavior for life.
- Studies show that parents play a pivotal role in shaping their children’s financial habits and perspectives, emphasizing the importance of modeling wise money choices to effectively teach kids about money.
- Teaching kids about money requires consistent repetition and patience, making sure your financial behaviors reflect the lessons you want your children to learn.
- Utilize a three-step approach—Show, Tell, Point—to teach your children about budgeting, differentiating between needs and wants, comparison shopping, involving them in decision-making, and practicing delayed gratification during back-to-school shopping, embedding valuable financial lessons into their understanding.
“Repetition is your friend, and what that means is this. It means that about the time that you are getting tired of letting them see you make smart money choices, that’s probably right about the time that they are starting to get it. So guys, this takes wisdom and discernment. But more than anything, it takes stamina.”
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