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Focus on the Family Parenting Podcast

Equipping Your Kids to Handle Money, Part 5

Focus on the Family Parenting Podcast

Focus on the Family

Kids & Family, Parenting

4.41.1K Ratings

🗓️ 29 January 2019

⏱️ 10 minutes

🧾️ Download transcript

Summary

Teaching children the value of money is important but where to start? John and Danny talk about helping kids to seethe difference between buying something you want and just spending money because you can.

Transcript

Click on a timestamp to play from that location

0:00.0

Thank you for downloading the Focus on the Family Parenting Podcast. You can find more helpful advice at

0:06.8

Focus on the Family.com slash parenting podcast.

0:11.1

I'm John Fuller along with Danny Huerta and Danny it happened at 5.30 yesterday morning.

0:17.0

I was getting on my elliptical, I was going to do a workout and I started it up and I have the room dark so I can see the screen of my iPad.

0:26.2

I've got to watch something while I work out and I got like a minute into the workout and I realized

0:31.3

I was not alone and it was one of my kids and he's looking

0:36.3

at me saying is it too late to cancel that eBay order we made just before bed last night

0:40.4

it's like why do you ask I don't want that anymore. Seriously, I helped

0:45.4

you research and then I helped you buy and within 12 hours your buyer's remorse

0:49.7

is already kicking in. Are you kidding me? But that is where a lot of parents are. We're

0:55.0

helping our kids understand money concepts and how to save it and how to spend it

0:59.9

wisely. It's not always easy.

1:03.0

John, it isn't. We want our kids to make great purchase decisions, but we, you and I know, we've made

1:09.8

mistakes purchasing things and still as an adult sometimes I'll buy something and say now why did

1:15.5

I buy that maybe I shouldn't have bought that in the receipt having the receipts a

1:20.1

wonderful thing we're all going to make these mistakes with our kids.

1:24.6

Help them learn that there is value to money.

1:26.6

You only have $20 to spend or $30.

1:30.7

The more they work for that money, the more they value the decisions that go along with the money that they're trying to spend and sometimes they will

1:38.4

Spend it frivolously and then they can't buy that next thing.

1:42.6

That's where as a parent you can't save them.

1:44.3

And one of the best people I know about this topic is Dave Ramsey.

...

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