There is nothing that makes me happier than to see good parents teach savings discipline and financial principles to their kids. I believe so much of this is missed in many families and it does a disservice to our younger generation. With a little effort and a lot of love, you can change your kids outlook and put them on the path to financial independence.
I want to quickly introduce you to Adam Simon (and his daughters). Adam is a Teaching Pastor at our Church, a Fireman, and an all around great family man. He’s recently started his video podcast series “Adam Simon – Responding to the Call” on YouTube and I would like to encourage you to support and follow him. His YouTube Channel can be found here.
In his most recent video podcast, he discussed how he introduced the cash envelope system to his children to keep track of their money within four categories – Spending, Saving, Special Purchases, and Giving. It’s pretty simple and easy to implement at any child’s age. Take a watch:
Thanks Adam for sharing your family strategy.