Money is a tool that we are responsible to use to further God’s kingdom. The Bible talks about how we can make plans and God will guide our way.
Proverbs 16:9 The heart of man plans his way, but the Lord establishes his steps.
One way that your young adult should learn to make money and save money is through investments. Our last lesson is about how your kids need to weigh the risks and costs of investments. Some topics to touch on with this idea are:
1) Invest in a Roth IRA as soon as possible.
2) Talk about how they should invest in different areas like stocks and bonds.
3) Compare mutual fund costs: An “annual
expense ratio” of 1.5% instead of 0.5% on a
$1,000 investment could cost you almost
$2,000 over the course of 35 years.
4) Talk about index funds because they usually have a low annual cost.
If you like what you read, check out our children’s book, Hooked on the Book, on this website. It is great for parents and kids because it provides the Big Story of God’s miraculous plan for His children in all 66 books in the Bible including colorful illustrations, rhymes and a surprise on every page.