In this series of posts, I am sharing how Jenn and I are training Melea to manage money well.
It is MY responsibility to train my daughter. Not the schools (although they could at least teach a few classes about it!) and definitely NOT the marketers!
It is MY responsibility to live out what I teach my daughter. No one has more influence on my daughter's education than Jenn and I!
Melea has to learn the lessons – both good and bad – about money. The sooner she starts learning the bad ones, the sooner she will adopt the good ones!!!
Step FOUR: Teach the Key Principles!
Anyone who has taken the Financial Freedom Class that I teach knows the Four Key Principles by heart. They are taught at the beginning of every single class – all five of the sessions. You can actually watch me teach these four key principles at NewSpring Church (High-speed internet only – does not work well with Amish internet!)
KP #1: There is POWER when you work TOGETHER on finances. Melea's husband (hurts me to even write this – I am going to go cry now!!!!) will know how to manage finances, and they will work together to win! The preacher pronounces you "as one" and that applies to finances as well.
KP #2: Avoid the DEBT TRAP. Debt is a wealth-killer! I remember the day that Melea borrowed a dollar from Grandma to buy something at Wal-Mart. I said, "Oh my, Melea, you are in DEBT! You are in DEBT to Grandma!!!" She got so wigged out that she almost cried! You may think I am mean. I would say it is CRUEL to let her think debt is her friend or good!!!!
KP #3: Have a PLAN for your life. This creates the REASON for you to plan your finances! Melea has a plan for her life already. She wants to be a veterinarian, move to San Diego, work for the San Diego Zoo, and live in the round hotel. Now, this might change (I will have a lot of frequent-flyer miles if this holds up!), but she has a plan!
KP #4: Have FUN managing money TOGETHER! It is not all about investing every single dollar. It is not all about living in a refrigerator box. The whole reason that we all want to win with money is so we can accomplish our God-given hopes and dreams! I teach this to Melea every single day. By the way, forsaking a high-paying corporate job to go to work for a church and moving nine hours away from family is a pretty good way to show her that God-given hopes and dreams can be accomplished! Look at what this crusade is helping folks do!!! FUN!
Question Of The Day: Have you had a conversation about money with your kids this week?