I agree! It's a great way to help children to develop the habit of tithing and saving and giving.
One thing we add is a "Bank of Dad" interest rate on the savings that is, well, pretty huge. We do this because the normal "passbook savings account" rate is just too minuscule for children to really understand the power of interest. But if they leave money in the Bank of Dad for an appreciable time (one week / one month), they see HUGE benefits. Real money going into their world to ... yes, tithe (it's an increase), save, and give (beyond the tithe)/spend.
As a person who got into trouble with credit card debt in college (and who didn't learn wise financial stewardship principles until grad school), I like the idea of our children really understanding the wisdom of NOT getting into debt.
THANKS for the post and for your continued ministry via TakeYourVitaminZ! I point people to you all the time.
2 comments:
I agree! It's a great way to help children to develop the habit of tithing and saving and giving.
One thing we add is a "Bank of Dad" interest rate on the savings that is, well, pretty huge. We do this because the normal "passbook savings account" rate is just too minuscule for children to really understand the power of interest. But if they leave money in the Bank of Dad for an appreciable time (one week / one month), they see HUGE benefits. Real money going into their world to ... yes, tithe (it's an increase), save, and give (beyond the tithe)/spend.
As a person who got into trouble with credit card debt in college (and who didn't learn wise financial stewardship principles until grad school), I like the idea of our children really understanding the wisdom of NOT getting into debt.
THANKS for the post and for your continued ministry via TakeYourVitaminZ! I point people to you all the time.
Your sister in Christ,
Tara B.
Brilliant. So simple. I'm with you ... this video helped persuade me to get on it and teach my kids and model it for them!
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