143 – How to Teach your Kids about Money During Back to School Shopping (Part 1)

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Last year, we took the time to talk about the excitement and opportunities of back-to-school shopping. We’re throwing it back to a refreshed version of those episodes these next two weeks, hopefully right as you’re contemplating your kid’s back-to-school lists!

This episode is the first of a two-part series exploring how to turn this annual task into a chance to teach our kids valuable financial lessons. We’ll talk about practical tips and biblical wisdom for making your shopping trips an opportunity to teach your kids about faith and money!

In this episode, John discusses: 

• Teaching kids financial wisdom through back-to-school shopping

• The importance of parental influence on children’s financial habits

• Using biblical principles to teach kids about money

• Actionable tips for parents to instill money-savvy behavior in their children

Key Takeaways:

• As parents, leverage the opportunity of back-to-school shopping to instill core biblical principles and practical money habits that will shape your children’s financial behavior for life.

• Studies show that parents play a pivotal role in shaping their children’s financial habits and perspectives. They emphasize the importance of modeling wise money choices to teach kids about money effectively.

• Teaching kids about money requires consistent repetition and patience. It requires ensuring your financial behaviors reflect the lessons you want your children to learn.

• Utilize a three-step approach—Show, Tell, Point—to teach your children about budgeting, differentiating between needs and wants, comparison shopping, involving them in decision-making, and practicing delayed gratification during back-to-school shopping, embedding valuable financial lessons into their understanding. 

“There is no better time of year than back-to-school shopping to illustrate some of the core biblical principles and practical money habits that you want to see in your children.”  

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