Question:  My daughter, who’s a freshman in college, has already started getting credit card offers in the mail.  How do I teach her not to get deep into debt like I did in college?

Answer:  Sadly, many young people start racking up credit card debt long before they are ready to handle the responsibility.  In fact, the idea of buying now and paying later has become the norm for many adults as well.  The average family today has racked up a great deal of debt.  They have mortgages on their homes, car payments, and usually more than one or two types of credit cards.  The truth is that many people have such a strong desire to “keep up with the Joneses” that they end going after the biggest house, the most impressive car, and  a multitude of designer clothes and toys, like fancy computers, smart phones, etc.  From the outside looking in, they appear to be the picture of success.  In reality, many people are way over their heads in debt.  They work hard to make others think that they have all their finances under control.  The truth is that they are barely making it work from paycheck to paycheck.  They have too much debt, and it’s their dirty little secret.

As with all things, turn to God’s Word, the Holy Bible, for answers to life’s questions.  Some people may be surprised to know that the Bible gives us guidance concerning finances.  The fact is that there are more than 1,000 scriptures in the Bible that deal with how we are to handle money and belongings.  Teach your children these things.  First of all,  as Christians, we are to look at our material wealth differently than others.  We remember that 1st Chronicles 29:11 says, “Everything in the heavens and earth is yours, O Lord.” (TLB)   What we have really belongs to the Lord, so we are to be good stewards of that part of His that He has entrusted to us to handle.

Therefore, we should want to be responsible in handling money.  The Bible teaches us to manage the money we have been given in a way that would lead us to not only have money for our daily needs, but also for the future.  Proverbs 21:20 says, “The wise man saves for the future, but the foolish man spends whatever he gets.” (TLB)  Plus, the Bible warns us in Proverbs 22:7 that “Just as the rich rule the poor, so the borrower is servant to the lender.” (TLB)  Those who have experienced it will tell you that being deep in debt does make you feel like you’re in bondage.  You may be working hard to bring money in for your family only to have to pay most of it back out to debtors.  The Lord does not want us to carry this type of financial burden.

One of the ways parents can teach their children to handle money well is to be good money managers themselves.  Set the example for your children.  Seek out good Christian resources to help you understand how to handle your finances in the way that pleases God.  One such resource is Crown Financial Ministries.  Check them out at www.crown.org. and start getting rid of your dirty little debt secret!

Helpful Links:

Focus on the Family     www.focusonthefamily.com

Crown Financial Ministries  www.crown.org

The Christian Broadcasting Network  www.cbn.com

World Magazine       www.worldmag.com