Crown Says Parents Are Children's Best Financial Educators - Like it Or Not
"There are more than 2,300 Bible verses about money - two times more than verses about heaven and hell combined," said Crown's chuck Bentley. "We need to take the time to understand what God knows about money and how to use it for everyone's good."
KNOXVILLE, Tenn., Sept. 17, 2015 /PRNewswire-USNewswire/ -- Did you know that by age 7 there is one area of your life that has been strongly established, making parents your most impactful teachers? Writing in a national column, Crown CEO Chuck Bentley observed that while most parents are hiring coaches, teachers and music instructors for their kids, financial education is often neglected. The head of the nation's oldest, Christian financial educational ministry said that introducing children to Biblical, financial concepts needs to begin from their earliest days.
Bentley observed, "In a fascinating report, researchers at the University of Cambridge commissioned by the United Kingdom's Money Advice Service discussed how children learn about money through observation and basic math, finding that kids' money habits are basically formed by age 7, at which point most children are in First and Second Grade, many years short of the time we traditionally think of financial training."
The issue is not so much that children of 7 are qualified to become Certified Public Accountants, but that their view of money and the emotions associated with it have already been formed, along with some basic patterns. It seems the Bible is quite accurate when it says in Proverbs 22:6, "Train up a child in the way that he or she should go and when they are old they will not depart from it."
"We need to share God's wisdom about money with our children, so they have the skills they need to not just survive, but to thrive in this economy," noted Bentley.
Too many parents avoid talking about money with their kids. In a 2012 survey, the American Institute of CPAs found that "parents are more likely to have talked with their children about the importance of good manners (95%), the benefit of good eating habits (87%), the importance of getting good grades (87%), the dangers of drugs and alcohol (84%), and the risks of smoking (82%), than about the value of money and managing it wisely (81%). Children, on average, are 10 years old when mom or dad—more often mom—has the first financial conversation with them about money, according to the survey."
"There are more than 2,300 Bible verses about money – two times more than verses about heaven and hell combined," said Bentley. "We need to take the time to understand what God knows about money and how to use it for everyone's good."
A family Bible study is a great way to start a conversation as a family and to learn a biblical perspective on charity, work and sending. And Crown has many resources that can help make learning fun. For more information, go to www.crown.org
Chuck Bentley is CEO of Crown and author of "The Worst Financial Mistakes in the Bible And How You Can Avoid Them" as well as host of the nationally syndicated radio feature, My MoneyLife™, follow him, @chuckbentley. For interviews, e-mail [email protected]
SOURCE Crown
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