Training your children in strong biblical principles is a whole lot like investing in mutual funds: the earlier you start, the better the results. While there's no specific age to start teaching children financial principles, we can all look for those small opportunities to impart wisdom when it comes to finances and earning to our kids.
It can seem easy for children to belittle the value of money because in their eyes, it seems that money just comes endlessly. But as adults, we acknowledge the truth that God has given us finite resources to manage faithfully to bring honour to His name.
Here are four simple yet profoundly effective biblical finance principles that you can teach your kids as early as possible.
Sowing and reaping. The principle of sowing and reaping can be multi-purposed. We can teach children the value of working hard to earn rewards by rewarding them for handwork that they do. It can also include teaching on generosity towards others and towards God. 2 Corinthians 9:6 says, "The point is this: whoever sows sparingly will also reap sparingly, and whoever sows bountifully will also reap bountifully" (ESV).
Social responsibility. God has blessed every single one of us to be a blessing. There is no one who has nothing to offer and give to those in need. Whether that's your time or your money, you can always give to someone who has a need. I'm thankful that my father exposed me to charity projects as early as five years old, bringing me on his field work to the slums to minister to and feed street children. Proverbs 19:17 tells us, "Whoever is generous to the poor lends to the Lord, and He will repay him for his deed" (ESV).
Saving. It can never be too early to save. I remember saving up money as early as seven years old. By the time I reached the age of twelve, I already had my own bank account and had savings in it from that day until today. That's only because I had parents who taught me the value of saving. Genesis 41:35 says, "And let them gather all the food of these good years that are coming and store up grain under the authority of Pharaoh for food in the cities, and let them keep it" (ESV).
Tithing. Some people don't believe in giving the tithe, but there is a strong biblical and experiential testimony to it. When we tithe, we don't just comply, but we worship God for the hundred percent that He has given us. Malachi 3:10 says, "And let them gather all the food of these good years that are coming and store up grain under the authority of Pharaoh for food in the cities, and let them keep it" (ESV).