Ask Chuck: How to wisely invest in your children

Dear Chuck,

What advice would you give for using money to impact our children and build a strong family?

We have limited funds and want to be wise as well as strategic.

Investing in Our Children

Dear Investing in Our Children,

I love the heart behind this question! Although you may have limited funds, you are not limited in the fun approaches you can take to impact your children and build a strong family. I see it all as a form of investment for future returns. Let's look at investing in a budget, activities, work experiences, skills, generosity, and their financial future.

Invest in a budget

The easiest way to maximize limited funds is to invest a few hours into setting goals and establishing a budget. Spending less than you earn will provide stability and margin. If budgeting is new to you, consider investing in a series of weekly Money Dates. This will enable you to enjoy the process of getting unified and building your plan. Crown’s step-by-step program lays out what to cover on each date. 

Invest in activities

Activities will vary from one family to another but prioritize your time together. Add to your budget the money needed for what you want to emphasize. 

A wise friend of mine once told me that buying a boat when his children were young was “the best money he ever wasted.” He explained that the boat created a place for lifelong memories that his family cherishes. 

Another friend purchased fixer-upper old cars that he and his boys would work to restore on the weekends. The cars were the basis for lessons in stewardship and were given to the boys when they reached driving age. He told me, “This investment in old cars kept my boys off the streets, off of drugs, and close to our family. It was worth every penny I ever spent on one, even if we lost money on the car.” 

Enjoying activities together will positively influence your children.

Here are a few examples that will not hurt your budget: hiking, biking, gardening, running, cooking, playing board games, enjoying academic competitions, working out, reading aloud, listening to audiobooks, working puzzles, drawing, painting, building, camping, learning foreign languages, going on mission trips, visiting zoos and museums, and serving neighbors, older family members, and the church.

You don’t have to buy all the equipment to enjoy more elaborate experiences. Many times, it is best to rent the equipment if these activities will not occur on an ongoing basis. 

Investing in their work experiences

Besides having fun, teach them the value of work. They can learn to earn more and contribute to their own financial needs early in life. Larry Burkett wrote a great devotional on this topic.

Have them talk to older couples and families you admire so that they can learn from their experiences and land an internship or a future job.

Invest in their skills

What skills can you pass on to your children? What are their interests? What skills do they need to develop? Can you involve extended family? 

My second son was an Eagle Scout who went on to serve in the military as a Ranger Medic. We spent many nights sleeping in tents! One day, he called and jokingly complained that I had not taught him the “3 Essential Man Skills” before he got to the military: how to drive a stick shift, how to back a trailer, and how to ride a motorcycle. We got a laugh out of it; but the truth is, I knew how to do all of those things. I had just failed to teach them to him before he left home!

Invest in generously serving others

Today’s giving in church is usually done online. Unfortunately, children do not experience putting the giving envelope in the plate each week. Supporting the Church needs to be talked about and emphasized. Encourage them to give off the top of their income.

Serving in the church, your neighborhood, and beyond can involve the entire family. Make it fun! Ask them to help you participate in secretly leaving gifts for the needy or helping widows or elderly neighbors with projects. Allowing them to join in discussions on your family’s decisions about the generosity of time and money will leave a lasting impression.

Invest in the financial future of your children

Enjoy your children as you help them develop self-confidence and a healthy identity in an environment of love and acceptance. Investing early in their lives will create loyalty and strength. It will also model for them the financial management that you want them to be able to carry into their lives and families as adults. The money you invest today will pay dividends for generations to come. 

No guarantees, but nothing is wasted

Raising children involves the wise stewardship of money, time, and talent. God gives us children to steward as well! Invest time in praying for the wisdom, love, and strength to raise them for His glory. While there are no guarantees, being intentional will likely help you build a stronger family than simply hoping for the best. I like to remind my wife that Adam and Eve had the best Father, but they still decided to disobey. Don’t beat yourself up if things are not going well right now. Trust the Lord, and see each day as a new opportunity to build stronger unity in your family. 

“Behold, children are a heritage from the Lord, the fruit of the womb a reward.  Like arrows in the hand of a warrior are the children of one's youth” (Psalm 127:3–4 ESV).

Do you want more tools and tips on financial stewardship? Are you interested in receiving ministry updates from around the world that you can share with your children? Sign up to receive the Crown Newsletter emails by using the form on the homepage at Crown.org.