As financially secure parents, we are proud of what we can do for our children, but we are also concerned with how money will affect their development. We want to provide the best for our children, but what we give and how much we give may have consequences that undermine our best intentions.

As parents we want to raise productive, responsible, motivated and compassionate children. How then do we encourage our children to develop these important qualities and how will our money values inhibit or enhance this encouragement? How best can we help our children succeed? How much is too much? Can too much spoil a child?

As parents we have the opportunity to model our values and teach financial skills to our children so that they can deal with having and inheriting money. In every stage of development we can help our children learn money values to foster personal responsibility, a strong sense of identity, and a connection to family and the greater community. What we do and say and how we live and how we spend, save and share our money will reflect our truest family and money values.

Ultimately we want our children to understand the responsibilities as well as the rewards of money. This means learning strategies to raise productive children with healthy self-esteem, motivation for achievement, and a sense of purpose and meaning.

Issues of Children and Money

• What to say and not to say to children about money.
• Dealing with allowance and chores in ways that reflect core values about the saving, spending and sharing of money.
• Making decisions about distributions to children and grandchildren: at what age, how much, and under what circumstances.
• Developing and implementing family money values.
• Modeling money values and teaching money management skills.
• Instilling motivation and a healthy work ethic.
• Understanding how money affects a child's growing self esteem.
• Family philanthropy that involves children and grandchildren.