This document discusses raising money-wise kids and provides principles for teaching children about finances. It begins by stating that money reveals our deepest values and worldviews. The author shares how their personal story and views around money have shifted, especially learning to trust God more. Specific strategies discussed include setting up bank accounts and allowances for children aged 11-12, with responsibilities over budgeting, giving, saving, and spending. Lessons learned include letting children experience natural consequences of their financial decisions. The document concludes by discussing estate planning and legacy, ensuring values are passed down to children.

1. Budget, Blank Check,
Bootstraps: Raising
Money-wise Kids
Kendra VanderMeulen

2. The power of our story
• We all bring our story to the question of money
• You will pass on values about money by the way
you live
• Jesus talks about money more than any other
single topic lifestyle taxes
– Critical spiritual battleground
– We have no choice but to engage the battle in our own
lives for the sake of our kids and the Kingdom
• Money is a great revealer of sin in our lives
– Having money is not a sin but it can show us where
our idols are
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3. My story
• What did I bring to the question of money as a
result of my story?
– Fear of dependence
– Security and approval are my idols
– Habits that reflect values
• Meticulous budgets and record keeping
• Hard work – driven by approval + a little brains =
corporate success and more money
• Debt is bad – leads to dependence
• Nice things are proof I am good
• Tepid generosity
– Something I am “supposed to do”
– No sense of trust in God + no idea of how much is enough =
no freedom in giving
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4. My story shifts
• Journey of “generosity”
• Money is a worldview issue, what do I
really believe?
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5. Money as a worldview issue
World’s View Biblical View
I earned it, it’s mine Everything belongs to God
I must provide for self and family Provision vs. Protection – We are to provide, but
He is the ultimate source and protector
Abundance is a sign of success, is to my credit He alone gives us the ability to prosper – the
purpose of wealth is to meet needs
More is better Bigger barns are foolish
Life is short, go for the gusto Life is short, lay up treasures in heaven
Give obediently, sparingly, cautiously, with and Sow generously, cheerfully, abundantly, ready to
eye to my needs and my future give on every occasion
Financial decisions are just business, maximize Every financial decision is a spiritual decision
gain and control
Worldly wisdom – proud, cynical, selfish Mind of Christ – humble, gentle, generous
Greed and Fear Gratitude and Freedom
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6. My story shifts
• Journey of “generosity”
• Money is a worldview issue, what do I
really believe?
• Why can’t I live what I believe?
– Learning to trust
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7. Yikes, what is going on with the
kids and money?!
• Eastside culture
• We have so much, how do I draw lines?
• What do I really need to teach them?
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8. Principles (not rules)
• Money is a finite resource to be used
carefully
• Giving is a responsibility and a joy
• Delayed gratification
• Basic competency in dealing with money
– Planning, tracking, saving
• Bias against debt
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9. What we did
• Ages 11 and 12
• Set up checking accounts, debit cards,
an allowance system, and a set of
ground rules and let them learn
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10. The basic contract
Item We would do They would do
Allowance $250/month Budget, give, save and spend
Basic needs Housing, food, medical, Clothing beyond the uniforms
transportation, 2 pairs of
shoes/yr, and school uniforms
Gifts On there own for friends and
family
Entertainment Family vacations, family Everything else, books, music,
outings outings with friends, etc.
Other Sports fees, music lessons, Anything else they wanted to
necessary equipment do or have
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11. Enhancements to the contract
• Cellphones
– we used prepaid phones with a small allowance per month
• Cars
– We provide one car to share, insurance, repairs, and a tank
of gas per month
– They provide the rest
– Bess started doing things to earn money
• College
– We provide tuition board and room
– They provide the rest (books, spending money, dues, etc.)
– The both learned to buy used books
– They both got jobs 
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12. Lessons
• Good to give them significant responsibility over things
that matter
– Keep a safety net
• Let them fail, do not rescue them
– Remember you have a safety net
• Maintain oversight
– Online banking is a wonderful tool
• Find creative ways to accomplish the things you care
about if they don’t
• Be patient and encouraging
– Avoid nagging, and let the circumstances be the teacher
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13. Back to my story
• How much is enough?
• So you think you are giving the big
bucks, but is that really all you can
give?
• Do you trust Me?
• What about your legacy?
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14. Learning to give proactively
• Setting goals
• Funding them wisely
• Prayerfully seeking areas of passion
and calling
• Family meetings
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15. Estate and legacy
• How much is enough for the kids?
Why and for what?
– Not so much that..
– But enough that…
• What is to be done with the rest?
• Have we prepared the kids to handle it?
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16. Discussion
• What are the critical questions our
family has been avoiding about money
and values, and what are we going to
do about it?
• What other ideas would you like to
share with your group?
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