3 Ways Teens Think They’ll Become Rich

A survey of young teenagers found that 56% of them believed that they would become rich during their lifetime. That’s not too surprising, but this is: The top three ways teens thought they’d get rich were by becoming a professional athlete, winning the lottery, or cashing in on a large lawsuit!

Can you believe it? They didn’t even consider the possibility of becoming financially well off through hard work and wise spending. This demonstrates how important it is for us to train children how to handle money God’s way. 

Proverbs 22:6 says, “Train up a child in the way he should go, even when he is old he will not depart from it.”

Summer is a great time to talk to your children about money. In fact, they’re probably already asking you how they could earn something extra! But in addition to helping them earn money, you should also focus on helping them learn about money by becoming an MVP parent. That’s an acronym where the M stands for Model, the V for Verbal Communication, and the P for Practical Opportunities.

We need to be models of how to handle money because children soak up parental attitudes toward money like a sponge soaks up water. Paul recognized the importance of modeling when he said, Be imitators of me, just as I also am of Christ” (1 Corinthians 11:1).

Then we must, verbally tell our children why we handle money the way we do. For instance, share with them that you are getting out of debt because Proverbs 22:7 warns us, “The borrower is slave to the lender.” And finally, we should provide kids practical opportunities to apply what they are learning.

Well, if you have children, I pray that you’ll become a MVP parent. You can’t start too soon.

Compass has some great tools for parents to engage with their teens on the topic of money. You could start by listening to a chapter of the Compass audio book Your Money Counts each week with them. You can find them here. Or you could spend just a few minutes a night with them watching one of our 5-Minute Finance videos together that can be found here. Each of these suggestions will not only stir the discussion and give you an easy topic to talk about, but they’re completely free of charge as well!

In Christ,

Howard Dayton

Founder

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