Part Two of Chores or Service Opportunities?
As parents, we want our children to have wisdom, faithfulness, and diligence. They need to be able to handle money wisely. They also need to learn how to work. We combine these two goals; we pay our children for a portion of their work around the house.
The bible clearly links work with material gain. It also links work to our very sustenance (2 Thes. 3:10-12).
God does not give allowances to those who won’t work (although He does provide for those who can’t). We are living in a time when some believe that they are “entitled” to something for which they did not work.
“What do your children do with all of that money?” you may ask. We divide earnings into seven categories:
- Living expenses
- Discretionary spending
- Short-term savings
- Long-term savings
Each category has a portion of the child’s earnings assigned. A spreadsheet allows us to quickly calculate the amount going to each category by entering the number of Service Opportunities completed during the previous week.
Spending money is given to each child. Savings (the last three categories) are spirited away to a savings account. Tithe and charity money is placed into an envelope to give away.
The folks at Doorposts have a publication that explains the concept in detail (complete with bible verses to help you instruct your children). It is called Stewardship Street, A Road to Financial Faithfulness. It was our guide as we started teaching our children about how to handle work and money.
Our children now earn their spending money, understand that God expects faithfulness in giving, and know that they have money saved for a “rainy day”.
Click here for a copy of our Service opportunities template to track your child’s earnings.
Hodgepodgedad also adds technical validity and Daddy savvy to his personal site, hodgepodge.me