Time for Financial Peace Jr.

My brother gave Kellyn Financial Peace Jr.: Teaching Kids About Money by Dave Ramsey for her second Christmas when she was only 14 months old. I saved it and have been waiting until she was old enough to start it. I really think she could have started it last year when she turned 4, but I just didn't put in the effort to do it yet so this year, now that she is 5, we are ready. In fact I got the box out a few weeks ago to look over it with her then today she saw it on the bookshelf and said, "Remember you said I could do this when I was 5. I already have 1 chore. Let's see what else I can do." Wow, I guess she really wants to be responsible for her money now.

    Love is spelled T-I-M-E. This is what Dave Ramsey opens with on his CD for Parents. 

One thing I love about the Bible is that it takes a hard stand on people who try to just "get by" and feed off others without doing a lick of work themselves. Here's my favorite verse on this topic:

For even when we were with you, we gave you this rule: "If a man will not work, he shall not eat." 2 Thessalonians 3:10

Yep, don't work, don't eat. I think that says it all.

Notice that it doesn't say that those who CAN NOT work should not eat. No, we should have compassion on and help out those people. But if someone can work, yet WILL NOT work, then he's left to the consequences of his actions (or inactions in this case).

Here are a couple other verses on this same line of thinking:

Lazy hands make a man poor, but diligent hands bring wealth. Proverbs 10:4

How long will you lie there, you sluggard? When will you get up from your sleep? A little sleep, a little slumber, a little folding of the hands to rest -- and poverty will come on you like a bandit and scarcity like an armed man. Proverbs 6:9-11

Proverbs 22:6 - Train a child in the way he should go, and when he is old he will not turn from it.   Train them or they will move back in with you when they are 26 years old. 

Dave Ramsey said that, "One indication of maturity is learning to delay gratification." This is so important in life not only money wise, but waiting until you are married to have sex. 

The 3 envelopes in the kit are: Giving, Saving, Spending

He says to give kids a Commission not an allowance because work = get paid, don't work = don't get paid.

In his home they have a Matching program like a 401k. You save $10 we'll match it with $10 giving you $20 in savings now. I like that idea. Thats real life. 

And lastly and most important don't give extra money as a reward, but rather give your time or give them kids extra time and extra choices for doing extra chores or doing one extra special good. 

So let's see how we do and what we learn.