I know I said I would discuss the family tax next, but I think maybe I should talk about the order of the division of money, and how it has made a difference in our children's attitude about money.
The very first thing that the kids give to, out of their allowance, is giving back to God. As I said earlier the kids tithe 25% of their allowance, which is more than God asks for us to give. But really God doesn't ask for much does He? When you think about it, He owns everything and asks ONLY for the first 10%, and He lets us keep the bigger portion for our own enjoyment! That is a pretty generous God!
They have never questioned the amount we set up for them to give, and it has spilled over into the money they earn outside of allowance.
For example, when Faith started to make her own money, through babysitting, before she did anything else she took 25% of the money she had earned and placed it in the money for God.
And she continues to give 25% of her earnings, even after I told her that God only asks for 10%.
And when her sister got her first babysitting job, she brought her money to her sister and asked her to help her take out her money for God, first. She said she wanted to make sure that she gave to God just like Faith does.
I love that they cheerfully give to the One who gives us EVERYTHING, that they don't feel like 25% is too much, and that they realize that it is the first thing we should think about when we get paid.
Kristen
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2 comments:
Hey Kristen! I love your posts about kids and money! Katrina and I talked about this concept over a year ago, and we have been wanting to implement it with Gavin, and soon Joe. Chris and I were just about to launch our plans for this with Gavin when I came across your posts. They are SO helpful, and they've really made me think this through more thoroughly before going forward. I have one question. Will you have a moment to discuss what the kids do with the money they receive as gifts? I have a couple of thoughts on this, but I'd love to have your input, since you and Mike have been doing this for quite awhile.
Hey Amber!
As far as gifts we have always allowed gift money to be used as they would like. We do not, have not been able to, give our kids large gifts for holidays. We do not buy them things in between holidays. And we would not allow one relative to buy a big item, say a DS, for a birthday or Christmas. So the money that they get for their own use from allowance is often combined with birthday gift money, to purchase big items. I think this makes them sooo much more respectful of the things they have. They are much more careful with an item they had to save and buy then one that was just given to them.
If you are wondering whether we have them tithe out of gift money, we do not. I am not sure whether that is the right thing to do or not...
Not sure what you were wondering as far as gifts... what are your thoughts?
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