4 - Teach Your Teen to Manage

Know the Condition of your Flocks

Managing your money well includes keeping track of your accounts and keeping good records. Without quality instruction in money management, many people learn this lesson through trial and error. In Part 4, Chuck Bentley now teaches parents how to give their kids solid money management experience before they go out into the world to learn the hard way.

Proverbs 27:23-24 (NASB)

23Know well the condition of your flocks,

And pay attention to your herds;

24For riches are not forever,

Nor does a crown endure to all generations.

New American Standard Bible, Copyright 1960,1962,1963,1968,1971,1972,1973,1975,1977,1995 by The Lockman Foundation. Used by permission.

What is the hardest part of money management for you? Why is it difficult? Do you think you have passed this weakness down to your children?
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What does keeping good records mean for you? Do you think you do this well? Are you in a good place to teach your kids about the different types of accounts for their money and how to manage them well?
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Sometimes parents will attempt to teach their kids about finances by giving them a credit card. What can be dangerous with this approach to teaching money management?
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Is the imaginary investment practice a practical thing for you to do with your children? What good will come out of this kind of exercise, and what practical lessons will this teach your kids about finances?
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All of the lessons that Chuck has taught are valuable for good stewardship, and management is the foundation for them all. Correctly allocating all of their earnings means smart management. Teach your teens to manage well so that savings and giving are possible.