Financial Responsibility for God's Glory

"For everyone who has will be given more, and he will have an abundance. Whoever does not have, even what he has will be taken from him." (Matthew 25:29)

Just before Edward entered Kindergarten, I started giving him his weekly allowance. Too early, you may think. In their generation however, it seems like kids are learning how to play video games or how to operate an iPod even before they could complete their first sentences! Still think it's too early to teach a five-year old the value of money?

I think I may have been 7 years old when I got my first 5 peso bill as my allowance - Wow! I could do whatever I wanted with it! I might have spent it all in 2 days, buying Bazooka bubble gum and Chocnut. I probably didn't care - thinking, "I'll have another 5 pesos next week."

That was just it: neither my mom nor my dad sat me down and taught me about money management. Maybe it was because we didn't have much, or maybe it just was not one of the skills that they wanted to teach us. Well, that is one change I wish to see in the world. I want Edward and Alison to learn that money is not for spending alone. It is God's gift that, if managed wisely, is a powerful tool to help others in need. I do not want them to experience the same discomfort that I used to have when talking about money and finances (such a touchy subject for newlyweds!) I want them to grow up to be responsible, self-sufficient, and confident.

I have often heard that "money is the root of all evil," but I say that ignorance is a much more evil force. Therefore I suppose, the ignorance of managing money is the seed of all evil. Scary statistics have been circulating: In a span of 14 years, between 1990 and 2004, Americans dug a hole 214% deeper in consumer debt. And last year, personal savings plunged 114% -the lowest rate in U.S. history since 1929. Is this the legacy that we want to leave our children?

There must be a change! There has to be! And change starts with me...

The day that I decided to sit down my 5-year old to talk about his first 5 dollars, I prayed to God and hoped that I did create change:

5 single dollar bills
1 envelope labled "bank"
1 envelope labled " Jesus"
a wallet

Mommy: Edward, every Sunday, you will receive an envelope with your name and date. In the envelope are five $1 bills. Can you count them for me?

Edward: 1... 2... 3... 4... 5...

Mommy: Good job! Now, I want you to put two in your wallet. (Edward does as he is told.) When we go to Target or any store, you may buy snacks or toys with the money in your wallet.

Edward: (Eyes glistening) I can buy gold fish crackers for me and Alison?

Mommy: Yes. Wow! You are very sweet to think about your sister. I like it when you are sweet and thoughtful.

Now I want you to put another two in your bank envelope. (Pointing at the word "BANK" so he can start recognizing the word. Edward does as he is told.) At the end of the month, we will count the money in your envelope. I will give you $1 for every $1 that you save. Then, we will make a trip to the bank to deposit the money. (I got this concept of 401(k)ids from Planet Orange, an ING Direct financial resource for parents and teachers.)

Edward: Yay! I like going to the bank and see the bear. (Our bank's mascot is the California bear.)

Mommy: Yes, that would be fun! So now the last dollar, I want you to put in this envelope for Jesus. (Pointing at the word "JESUS." Money from this envelope goes to the weekly tithe envelopes that our parish church mails to us.)

At this point, Edward takes the $1 bill and stops, as he was about to put it in the envelope. He then looks at me with an innocent curiosity and asks, "Mommy, why does Jesus need money?"

Short silent pause... and then I burst out laughing!

Such a cute, innocent question that should go on the "Hall of Fame of Children's Classic Whys." I wish that I had a roomful of parents of preschoolers because that "why question" could have easily been a punchline!

My mind start raking for reasons.

Mommy: Well, Jesus needs the money to give to poor people.

Edward just stares, clearly not satisfied with the answer that I've just given him. Then I ponder, poverty may just as well be such an out-of-this-world concept for a child, who was born and raised in the San Francisco Bay Area. My childhood in the Philippines, where street children were everywhere, is totally different. So I blurt out the first thing that pops into my head...

Mommy: Oh, and the church needs to pay rent.

And as Edward oblige to tuck the $1 away in the "Jesus envelope," I snicker in disbelief: a five year old just floored me with a baffling question, and all I could tell him was that the church needed to pay rent!

He never asked me that question again. He had been contented in putting his "Jesus money" in the church envelopes, which he would happily place in the collection basket during the Offertory. In January, he turned 6 and I started giving him an extra dollar for his allowance. I told him that he could put it in his "7th Birthday Box," which he could open on his 7th Birthday and spend eveything in it on whatever he might want. I wanted to introduce the concept of long-term savings (bank = college expenses) vs. short-term savings (box = big toy purchase for birthday).

At the beginning of Lent, Edward's school sent home with each student, a Lenten box with a letter saying: "We are asking you to help us teach your child the importance of doing service for others and sharing the benefits of that service with the poor, thereby sharing and giving to Jesus."

I was psyched! Finally, the perfect answer to Edward's question that he asked six months ago!

"...[W]e want them to do helpful things around the house that could earn them 5, 10, or 25 cents at a time," the letter continued. Proceeds will be sent to the Holy Childhood Association, which supports children in missions throughout the world. On the Lenten box are small pictures of some of those children. I then felt very grateful that God had given me this instrument, that enabled me to fully and visually explain to Edward what "Jesus needs the money for." So on top of the regular "Jesus money" from his allowance that he now puts in the Lenten box, he also puts coins that he earns for his good deeds at home. What a terrific opportunity, discipline, and exercise for Edward! It will definitely let him know that he "fed and clothed the poor children and in doing so, did that for Jesus."

When I sit down with Alison to give him her first $5 allowance, I will definitely be better equipped in answering any questions pertaining the"Jesus money envelope!"


Dear Lord, several years from now, I will ask my children if teaching them about money management has made a difference in their lives. In the meantime, I ask You to please continue to bless me with the same discipline and responsibility that I am teaching my children. I want to be Your servant that You are proud of: whatever time, talent, and treasure that I have, may I come home to You with much more than You have given me.