- 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
5. Teach children to make money decisions in keeping with their capacities to understand.
Help your children become wise financial stewards. Elder Ashton counseled:
Based upon appropriate teaching and individual experience, children should be responsible for the financial decisions affecting their own money and suffer the consequences of unwise spending. “Save your money” is a hollow pronouncement from a parent to a child. “Save your money for a mission, bicycle, doll house, trousseau, or car” makes understandable sense (“Guide to Family Finance,” Liahona, Apr. 2000, 42).
