- Budgeting
- Cash Management
- Consumer and Mortgage Loans
- Debt and Debt Reduction
- Time Value of Money 1: Present and Future Value
- Time Value of Money 2: Inflation, Real Returns, Annuities, and Amortized Loans
- Insurance 1: Basics
- Insurance 2: Life Insurance
- Insurance 3: Health, Long-term Care, and Disability Insurance
- Insurance 4: Auto, Homeowners, and Liability Insurance
- The Home Decision
- The Auto Decision
- Family 1: Money and Marriage
- Family 2: Teaching Children Financial Responsibility
- Introduction
- Understand the Importance of Teaching Your Children
- Understand the Principles of Teaching Financial Responsibility?
- 1. Teach by example individually
- 2. Teach by example as a couple
- 3. Pay an honest tithe and generous offerings
- 4. Teach family members early the importance of working and earning.
- 5. Teach children to make money decisions in keeping with their capacities to understand.
- 6. Teach family members to contribute to the total family welfare.
- 7. Teach family members that paying financial obligations is part of integrity and honesty development.
- When Do You Teach Financial Responsibility?
- Summary
- Assignments
- Family 3: Financing Children’s Education and Missions
- Investments A: Key Lessons of Investing
- Investments B: Key Lessons of Investing
4. Teach family members early the importance of working and earning.
Working and earning are critical skills for our children. Elder Marvin J. Ashton commented:
“In the sweat of thy face shalt thou eat bread” (Gen. 3:19) is not outdated counsel. It is basic to personal welfare. One of the greatest favors parents can do for their children is to teach them to work (Marvin J. Ashton, “Guide to Family Finance,” Liahona, Apr. 2000, 42).
