Money and Family Resource Management

This past week we had such a GREAT ward activity on budgeting and wise spending!

I decided to post a lesson that went along with that topic! I found one that my sister created a few years ago, and TA DA! Here you have it, a fun lesson on Money and Family Resource Management

Purpose:

To learn why it's important to manage our money and our resources, and how to do it.

Lesson: Hold up a picture of a penny (You could print the one above) Ask the family what the penny is. Ask them what we use the penny (or money) for. Ask them if they think it matters to Heavenly Father how we spend our money. Testify to them that if does matter to Him because he wants us to progress and be happy spiritually and temporally. Tell them that there are three main things He would like us to do with our money.

1. Tithing


The Lord has asked that we pay tithes and offerings; by doing do, we show our love for him and help to build his kingdom.


Read the first line of Malachi 3:8. Ask what the question means to them. How could we possibly rob God? Discuss how our money is ultimately all from the Lord. Tell your family that just as in ancient times Heavenly Father has commanded us to pay tithing. (D&C 119:4)


Story: Sharing the Boot Money


Show the family 10 pennies. Discuss how much you'd pay and take out one penny.



End this section by bearing your testimony of the importance of tithing.


2. Save


Ask the family what else Heavenly Father wants us to use our money for. Why is it important to save? What do we save for? How much should we save? These are questions that really only you as parents should answer. I know some parents encourage their children to pay their 10% tithing and then save 50%. This high savings is due to the fact that children do not need to pay bills, etc. and will be accustomed to saving and not spending all their money when they grow up if they do so. You might want to discuss this as parents before the lesson.



Share an experience of when you saved up for something and how is made you feel towards that thing. Express to them that if they will contribute to their mission or college financially they will appreciate the experience more and enjoy it more.



Refer to the pennies again and take out the predetermined amount of savings.



3. Spend Wisely


Ask the family, aside form tithing and savings, why do we have money? (to buy things, to live on, to enjoy life, etc.) Express to them that we should use the financial resources with which we are blessed to perfect ourselves and build up the kingdom of God. Discuss that it is okay to buy fun things with our money, but we need to have balance. Ask the question, If we only spent our money on toys, what would we not have? (food, shelter, clothing, etc.) Spending wisely means that we put our wants behind our needs, but that we are frugal and we plan so we'll have some money for your wants too.

The following activity is a bit dramatic, but I think it can be adapted for merely discussed. To do this activity give the children play money and then have them "pay" the family expenses as described in the article in the link below.


They All Held The Money




Family Resource Management Scavenger Hunt

Print and hide the following clues.
Use them to teach the family about ways to save resources and money.

GIVE TO THE KIDS
You come to me when you are hungry.
Remember to close my door or you will waste energy!

PLACE ON OUTSIDE DOOR OF FRIDGE
You use me to get nice and clean,
but turn me off when you're done, don't be mean!

PLACE ON BATHROOM FAUCET KIDS USE MOST
You use me to light up your room,
Don't forget to turn me off for an energy boon.

PLACE ON LIGHT SWITCH IN ONE OF THE KID'S ROOMS
put me on if you cold in the house,
you don't need to shiver like a mouse!

PLACE WITH SOME COATS OR SWEATERS THE KIDS CAN GET TO
When you're done snacking on some treats,
put them away and close them up to save those eats!

PLACE ON A SNACK IN THE PANTRY
When you need something form the car,
(make sure I'm unlocked) and close me even if you're not going far.

PLACE ON DOOR LEADING TO GARAGE OR CARPORT
Don't turn up your nose when you see dinner a second time,
Eating these makes less work and more money for fun time!

PLACE ON A TUPPERWARE IN THE FHE TREATS IN THE FRIDGE
Congratulations! We are learning to use your resources and our money wisely. We are showing our family and our Heavenly Father that we are grateful for all the we are given!


For Older Kids:
Use the budget sheet below (click on the image and a larger copy will pop up to print)to help them learn about budgeting money. You could even make it into a game! This is to make them into little accountants! Hee hee!



This lesson was created by Robyn Hutchison