She chose to speak to them on what she titled ‘The 10 Commandments of Personal Finances for Young People’.
Below is an outline of what she taught them. See whether you agree with each point and decide to share them with your children as soon as they start handling money:
1.) Understand the difference between what you want and what you need.
2.) Before you spend, don't just think of your present reality, think of your future. Don't spend all your money on consumables.
3.) Start the habit of saving while you are young and experience the satisfaction of watching your money grow
4.) Always do a weekly, monthly or quarterly budget in order to know where your money is going
5.) Always give your tithes and offerings, no matter how small, because you want God’s blessings over your life
6.) Avoid getting store cards and multiple credit cards no matter how tempting it appears. It often leads to a life of borrowing.
7.) Open a bank account if you don't have one and start learning how the bank system works
8.) Ask adults questions about finances, so you can benefit from the wisdom they have.
9.) Always pay your bills on time and make sure you pay back anyone you owe.
10.) Have a vision and make a decision to be financially free.
Remember, it’s never too early to learn how to handle money or how to have a fantastic financial future. Start them early, and when they are older, they will not depart from it!