How Can Kids Save and Give Wisely?

This week is Part 2 of a 2-Part series regarding money and how we should spend, save, and give of the monetary gifts God has given us...and how we can teach our kids. Lean in and let's enjoy Jacob's practical direction.
Three Contemplating Guys

A good man leaves an inheritance to his children’s children, but the sinner’s wealth is laid up for the righteous. Proverbs 13:22

I am a saver and my wife is a giver.  Yes, even when it comes to money.  I prefer to save anything and everything we can.  My wife prefers to give anything and everything we have to others.  I’m sure some of you have had conversations around these topics with each other but have you had them with your kids?  Where will our kids learn what to do with their money if they don’t learn it from us? 

Below are some practical tools to help teach our kids specifically how to save and give wisely:

  1. Let them see it – Take 3 clear jars and label each jar – “Spend,” “Save,” “Give.”  When your kids earn money (meaning they have done something deserving of compensation) have them distribute the money into these three jars.  You can divide the percentage however you want but a great place to start is to have them divide it equally among the 3 jars.  This practice designates the purpose of the money in each jar and teaches kids a healthy perspective on how to divide the money they earn.
  2. Make Goals – Don’t just save money for the purpose of saving it. Give your savings a goal!  Help your kids set a realistic timeline on how long it will take them to save enough money to reach that goal.  These goals can be centered around a near-sighted goal and bigger, longer term goals like college, an emergency fund, new car, etc.  You can have the same conversation regarding giving.  Ask them if there is a friend or cause they would like to give money to.  Help them determine how much money they want to give and how long it will take before they can do that.
  3. The value of a dollar…compounded – Part of saving wisely is understanding the value of a dollar compounded.  Give your kids practical examples of what it would look like for them to start saving at 15 rather than waiting until 30.  Put the numbers before them!  Once you see the “ah-ha” moment on their face, introduce the idea of saving for the purpose of giving.  Encourage them to think about how they could bless others with the money they have been faithfully saving.

Everything we have is from the Lord.  As followers of Jesus, we are called to be faithful stewards of the things we have received whether that be money or talents or anything!  Part of stewarding is saving for the purpose of giving.  Our kids need to see us demonstrate the practice of saving and giving all the while helping them learn as well.

Camper Corner:

What are some things you want to start saving for?  Who in your neighborhood or community would you like to give money to? Dream ahead about 10, 20, 30 years from now – what do you want to be able to do with the money you have saved?


About The Author

Jacob Overby

A native to East Texas, and an Arkansas Razorbacks fan, Jacob was first introduced to camp sitting in class his sophomore year at Ouachita Baptist University.  After taking the bait to apply for summer staff, he joined the T Bar M family at Camp Travis in 2007 (Stamp'd).

Upon graduation, he continued his education at George W. Truett Theological Seminary, located on the campus of Baylor University. After a two year (summer) hiatus, a phone call from Mark Kaufmann in the spring of 2010...

T Bar M Camps

T Bar M Camps is a place creating life-impacting experiences for thousands of campers every year.