- Budgeting
- Cash Management
- Consumer and Mortgage Loans
- Debt and Debt Reduction
- Time Value of Money 1: Present and Future Value
- Time Value of Money 2: Inflation, Real Returns, Annuities, and Amortized Loans
- Insurance 1: Basics
- Insurance 2: Life Insurance
- Insurance 3: Health, Long-term Care, and Disability Insurance
- Insurance 4: Auto, Homeowners, and Liability Insurance
- The Home Decision
- The Auto Decision
- Family 1: Money and Marriage
- Family 2: Teaching Children Financial Responsibility
- Family 3: Financing Children’s Education and Missions
- Investments A: Key Lessons of Investing
- Investments B: Key Lessons of Investing
When Do You Teach Financial Responsibility?
The Lord has commanded parents:
The glory of God is intelligence, or, in other words, light and truth. Light and truth forsake that evil one. But I have commanded you to bring up your children in light and truth. (D&C 93:40)
Bringing up your children in light and truth is a big responsibility. What do you teach your children? When do you teach them? How do you teach them?
Following are ideas for teaching children financial responsibility. I have divided the age groups into young children, pre-teenagers, teenagers, college and older children, and married children because different things should be taught at different ages.
From what we have said thus far, we should teach our children:
- To deny themselves
- To stretch for what they want
- They will not get everything they want
- To obey the commandments
- To appreciate what they have.
Following are a few ideas that may be helpful as you strive to teach your children of various ages.
