Budget Boxes

A primary foundation for understanding how we can honor the Lord with our wealth

(Proverbs 3:9)

 

Please don't let the length of this post scare you off...it is actually simple and very fun for the kids!

 

My desire was to teach my children a biblical basis for how God wants us to use our money.

In searching scripture I found 6 categories with verses to explain each one.

 

If you end up having any questions, feel free to ask!

 

 

 

Budget Boxes  

(a.k.a. Budget Booty Boxes because I like alliteration and because some

of my boys decorated the exterior with Pirate stickers;

but I can assure you...the money in them has not been stolen!!)

 

Luke 16:10-12 ESV is laminated & stuck on the top of the lid:

 

“One who is faithful in a very little is also faithful in much, and one who is dishonest in a very little is also dishonest in much. If then you have not been faithful in the unrighteous wealth, who will entrust to you the true riches? And if you have not been faithful in that which is another's, who will give you that which is your own?"

 

Mama's "Bank" - a condidment container from Bed, Bath & Beyond (shown above) holds all the coins - even half dollar coins, dollar coins & dollar bills which (usually) lie underneath the containers. (This picture, however, shows fake bills for my toddler to play with while I "do Budget Boxes" with the older kids. I bought an extra muffin pan & I give her a few pennies/bills for her to play with while we get our real money sorted.)

 

 

This picture (above) shows the entire contents of each box.

 

The picture (above) shows the contents of the enclosed zip-lock:

photo of coins (5 pennies equal 1 nickel & so on),

bank book for our kids' savings account, pencil,

& 6 laminated budget categories with corresponding Bible verses.

 

Above is a close-up of my homemade 3-zipper wallet which

stores money for 3 of our 6 budget categories

($ is my symbol for the word "money"):

 

$ to Give (Giving category)

$ to Live (Living Expenses)

$ to Spend (Fun Money)

 

 

First step (as shown above): Unpack the Budget Box & set up our 6 laminated budget categories with corresponding verses and set out our 1/2 dozen muffin pan.

 

He's all set up & ready to start

 

I tell my Kindergarten--4th grade children, "See if you have 6 quarters & put 1 in each muffin hole. See if you have 6 more." If not, we set the remainder aside and move on to the next kind of coin.

 

Then they may trade each kind of coin with me, "the bank," for smaller coins in order

to see if they have 6 of those to put in each muffin hole.

 

We put the remainder in the Tythes & Offerings muffin hole (#1). I bought the muffin pans from a type of dollar store & I used a permanent marker & wrote numbers 1-6 inside each hole. Then I realized it's better to write the number on the wall inside the muffin hole (so it's visible).

 

First we write "Thank you God" (or any variation of this as seen in this pic) on the envelope.

Then we remove money from muffin hole #1.

(Not sure why some of these pictures are sideways...or how to fix it. Sorry.)

 

We put $ from the #1 muffin hole into the envelope

& take the laminated #1 card off the clip & it set it aside

(or put it back in the zip-lock baggies & the clip in the box).

 

Then I act corny & sing the Beatles song Taxman

& I take their tax money & put it in my bank (a condidment container from BB&B).

I remove the laminated card & set it (& the clip) aside (or put them away).

 

Side Note: When I go to make Budget Boxes for my younger 2 kids, I may change which number goes with each budget category. Once we started, I found it easiest to go in a different order than I had originally numbered each category. We now go through it in this order:

 

                                                           #1 - Tithes/Offerings

                                                           #6 - Taxes

                                                           #4 - Savings

                                                           #3 - Money to Give (Giving)

                                                           #2 - Money to Live (Living Expenses/Things we need)

                                                           #5 - Money to Spend (Things we want)

 

The next step is to put money from the #4 (Savings) muffin hole & we add it in their bank book.

(I put the money in my "bank". When they're older & earning more,

I'll actually deposit it in their Savings account at the real bank.)

Then I set aside that laminated card & clip.

 

Side Note:

This system will work with any method of income for a child. Whether they receive money for birthdays/Christmas, or for weekly allowance, or jobs around the house, report cards, tooth fairy, ...anything, this method of teaching how to budget money can accommodate it.

 

We allow gifted money to not go through this budgeting system.

We use Budget Boxes for money our kids earn.

 

In our home, we consider household responsibilities as one of the aspects of being a vital part of our family and we treat it in a II. Thessalonians 3:10 (ESV) manner: 

"For even when we were with you, we would give you this command:

If anyone is not willing to work, let him not eat."

I liken school work to daddy's job and tell them: a child's job is to learn.

They earn money when they accomplish their weekly school assignments,

and they don't earn money if they don't complete their assignments.

 

We've used a motivational "grading" chart in the past (in more detail below) that keeps track throughout a school day using positive and negative tally marks,

which reflect their attitude, responsibility, and effort.

They earn a certain amount of money depending on their tally marks.

If we want to practice skip counting by 5s, for instance, (or multiplication facts for 5s),

they'll earn 5 cents for every tally mark (or marble, or sticker... if you use those)

they have earned during the week.

 

 

At this point in the process there are 3 budget categories left over:

$ to Give

$ to Live

$ to Spend

They take the coins out of the muffin holes & insert each collection of coins into the coordinating zipper pocket of their homemade wallet. (Often, they choose to put the earnings in the wallet their grandparent bought them instead of in the "$ to Spend" zipper in their homemade wallet.

 

They can refer to this photo (found in the zip-lock baggie)

& they may choose to swap with me, the "bank", for larger coins/bills:

2 nickels for a dime, 4 quarters for a dollar bill, etc.

 

When Daddy can be a part of it, he'll pick 1 verse from one of the categories to read & explain to the kids. Or if they complain about having to put money toward a particular category, we'll take the time to explain why God wants us to budget money in that way (by reading the corresponding verses).

 

As they get older and have a greater attention span, I'll have them read the Bible verses & other information on each card each time we do Budget Boxes.

**I want them to know that we should look to God's Word to learn how we ought to use the money we earn and to learn that money is not just something for us to do with whatever we want.  

 

 

 

GRADING CHART  (a.k.a.  MIRROR)

REFLECTS DAILY PERFORMANCE

 

The grading chart I've used has 2 categories: Attitude & Responsibility. There is a positive column & a negative column under both categories (for writing tally marks).

 

ATTITUDE: 

Willing to Learn

Obey With a Cheerful Heart                                                                                                               

No Complaining or Arguing

Participate

Cooperate without Hesitation

RESPONSIBILITY:

Pay Attention / Focus

Good Listening Skills

Follow Instructions  

Complete Assignments

Put Forth Your Best Effort

 

When I practice this method, I tally points throughout the school day which serves as motivation for them to even out their scores & make sure to earn more positive marks than negative marks for each of the 2 categories. In the end of the day, I average it ( I pick a # between 0-5) & write it on a chart. At the end of the week, we add up their points & each point equals an amount of money. (Right now they earn 5 cents per point & they help count by 5s to find out our total.)

 

 

Here's what is printed & laminated on the cards for each of the 6 Budget Categories:

 (renumbered in the order in which I go through them)

 

 

On the exterior of the Budget Box is:

"Whoever can be trusted (and is faithful -ESV) with very little can also be trusted with much, and whoever is dishonest with very little will also be dishonest with much. So if you have not been trustworthy in handling worldly wealth, who will trust you with true riches? And if you have not been trustworthy with someone else's property, who will give you property of your own?” (Luke 16:10-12 NIV).

 

 

 

1.  TITHES & OFFERINGS

Why tithe?
“Honor the LORD with your wealth, with the firstfruits of all your crops; then your barns will be filled to overflowing, and your vats will brim over with new wine” (Pr 3:9-10).

“Jesus looked up and saw the rich putting their gifts into the offering box, and he saw a poor widow put in two small copper coins. And he said, "Truly, I tell you, this poor widow has put in more than all of them. For they all contributed out of their abundance, but she out of her poverty put in all she had to live on" (Lk 21:1-4).

2 Corinthians 9:7 “Each one must give as he has decided in his heart, not reluctantly or under compulsion, for God loves a cheerful giver.”

 

2. TAXES

Why pay taxes?
“Pay to all what is owed to them: taxes to whom taxes are owed, revenue to whom revenue is owed, respect to whom respect is owed, honor to whom honor is owed. Owe no one anything, except to love each other, for the one who loves another has fulfilled the law” (Rom 13:7-8).

 

 

3. SAVINGS

Why save?

1. For future emergencies: “The prudent sees danger and hides himself, but the simple go on and suffer for it” (Pr 22:3).
2. To prevent the need to borrow. Borrowing money = Debt: “The rich rules over the poor, and the borrower is the slave of the lender” (Pr 22:7).
3. To not be a burden to others“…And I will not be a burden, for I seek not what is yours but you. For children are not obligated to save up for their parents, but parents for their children.” (2 Corinthians 12:14)

How to save = save in a way that will make your money grow =“investing”:

“Why then did you not put my money in the bank, and at my coming I might have collected it with interest?' And he said to those who stood by, 'Take the mina from him, and give it to the one who has the ten minas.' And they said to him, 'Lord, he has ten minas!' 'I tell you that to everyone who has, more will be given, but from the one who has not, even what he has will be taken away” (Lk 19:23-26; Mt25:27-29).

Warning:

"But God said to him, 'You fool! This very night your life will be demanded from you. Then who will get what you have prepared for yourself?' "This is how it will be with anyone who stores up things for himself but is not rich toward God." (Lk 12:20-21).

Mk 10:23-25 “And Jesus looked around and said to his disciples, "How difficult it will be for those who have wealth to enter the kingdom of God!" And the disciples were amazed at his words. But Jesus said to them again, "Children, how difficult it is to enter the kingdom of God! It is easier for a camel to go through the eye of a needle than for a rich person to enter the kingdom of God."

4. GIVING

                     *Money to Give*

Why give?

"Command them to do good, to be rich in good deeds, and to be generous and willing to share” (I. Tim 6:18).

“And do not forget to do good and to share with others, for with such sacrifices God is pleased” (Heb 13:16).

“When the Son of Man comes in his glory, and all the angels with him, then he will sit on his glorious throne. 32Before him will be gathered all the nations, and he will separate people one from another as a shepherd separates the sheep from the goats. 33And he will place the sheep on his right, but the goats on the left. 34Then the King will say to those on his right, 'Come, you who are blessed by my Father, inherit the kingdom prepared for you from the foundation of the world. 35For I was hungry and you gave me food, I was thirsty and you gave me drink, I was a stranger and you welcomed me, 36 I was naked and you clothed me, I was sick and you visited me, I was in prison and you came to me.' 37Then the righteous will answer him, saying, 'Lord, when did we see you hungry and feed you, or thirsty and give you drink? 38And when did we see you a stranger and welcome you, or naked and clothe you? 39And when did we see you sick or in prison and visit you?' 40And the King will answer them, 'Truly, I say to you, as you did it to one of the least of these my brothers, you did it to me.' 41"Then he will say to those on his left, 'Depart from me, you cursed, into the eternal fire prepared for the devil and his angels. 42For I was hungry and you gave me no food, I was thirsty and you gave me no drink, 43I was a stranger and you did not welcome me, naked and you did not clothe me, sick and in prison and you did not visit me.' 44Then they also will answer, saying, 'Lord, when did we see you hungry or thirsty or a stranger or naked or sick or in prison, and did not minister to you?' 45Then he will answer them, saying, 'Truly, I say to you, as you did not do it to one of the least of these, you did not do it to me.' 46And these will go away into eternal punishment, but the righteous into eternal life." (Mt 25:31-46).

Warning:

“Command those who are rich in this present world not to be arrogant nor to put their hope in wealth, which is so uncertain, but to put their hope in God, who richly provides us with everything for our enjoyment. Command them to do good, to be rich in good deeds, and to be generous and willing to share” (I. Tim 6:17-18).
 

                                         5.  LIVING EXPENSES

*Money to Live*

Why designate money for living expenses?
“Now such persons we command and encourage in the Lord Jesus Christ to do their work quietly and to earn their own living” (II Thess 3:12 ESV). 

For you yourselves know how you ought to imitate us, because we were not idle when we were with you, nor did we eat anyone’s bread without paying for it, but with toil and labor we worked night and day, that we might not be a burden to any of you.” (II Thes 3:7-8).

THINGS WE NEED IN ORDER TO BE HEALTHY IN OUR BODY, MIND & SPIRIT:

1. FEAR GOD, OBEY HIM: “Do not be wise in your own eyes, fear the Lord and shun evil. This will bring health to your body & nourishment to your bones” (Pr 3:7-8).
2. FRIENDSHIP WITH GOD
3. FRUITS, VEGETABLES & GRAINS
4. AIR
5. SUNLIGHT
6. WATER
7. EXERCISE
8. SLEEP
9. FRIENDSHIP WITH OTHERS (community)

 

6.  THINGS WE WANT

*Money to Spend*

Why spend it on fun? God wants us to enjoy the fruit of our labor.

“Everyone also to whom God has given wealth and possessions and power to enjoy them, and to accept his lot and rejoice in his toil—this is the gift of God.” (Eccl 5:19).

Warning:

“Keep your lives free from the love of money and be content with what you have, because God has said, "Never will I leave you; never will I forsake you." (Heb 13:5a).

“Now there is great gain in godliness with contentment, 7for we brought nothing into the world, and we cannot take anything out of the world. 8But if we have food and clothing, with these we will be content. 9But those who desire to be rich fall into temptation, into a snare, into many senseless and harmful desires that plunge people into ruin and destruction. 10For the love of money is a root of all kinds of evils. It is through this craving that some have wandered away from the faith and pierced themselves with many pangs. 11But as for you, O man of God, flee these things. Pursue righteousness, godliness, faith, love, steadfastness, gentleness.” (1 Tim 6:6-11).

“Then he said to them, "Watch out! Be on your guard against all kinds of greed; a man's life does not consist in the abundance of his possessions" (Lk 12:15).

 

 

~

 

 

 

My hope is that this might inspire others with ideas for how they can lead their children to consider:

 

God's will regarding how they spend the money God has entrusted to them...

 

and God's Word for direction in all things.

 

In all our ways, may we acknowledge Him, that He may direct our paths. And may He be honored with our wealth.

 

 

Proverbs 3:5-9 ESV

 

"Trust in the Lord with all your heart,
    and do not lean on your own understanding.
In all your ways acknowledge him,
    and he will make straight your paths.
Be not wise in your own eyes;
    fear the Lord, and turn away from evil.
It will be healing to your flesh
    and refreshment to your bones.

Honor the Lord with your wealth..."