With kids at home, this has been a trying time for all of us. I know I would never be a great stay-at-home-mom or homeschool mom. Having lots of time with them has given me time to see what the focus of their little lives is. In a conversation with my 16 year old, he wanted money. It went a little like this:
Him: Mom, can I have some money?
Me: No, I don’t carry cash.
Him: What, why? That makes no sense.
Me: It is not new, I never have cash!
Him: Well can I have quarters?
Me: I don’t have quarters.
Him: How can you not have quarters, that’s impossible!
Me: What would I need quarters for?
Him: The gum machine…of course!
This made me think about if I am being a good example for my kids when it comes to money. No, I give them money when they want or need it without question. I wanted to change my ways immediately! My youngest, 12, is now in charge of many things in the house to make money. He will save his money and put it into an account until he has enough to buy what he wants. And my 16-year-old who has had chores for some time is searching for a job because the chore money is not enough. His problem is that he wants to spend money as soon as he gets it, whether for the gum machine or a video game. He doesn’t understand he needs to build savings.
With COVID-19 affecting many aspects of my life, I am using this as a teaching moment for my boys on having savings for emergencies. The economy is going to take a hard hit and they have been following the news with me and see how it is affecting our neighbors and friends and the community we are living in.
I want both of my boys to understand that being a good steward of money can help them later in life. In Matthew 6:24 it says, “No one can serve two masters, for either he will hate the one and love the other, or he will be devoted to the one and despise the other. You cannot serve God and money.”
In light of the COVID-19 slow-down, start some conversations with your children.