We give our kids $1M. Well, that was the “hypothetical” question my wife and I were talking about the other day. We have 3-Kids, oldest girl (24) married, youngest daughter (20) in college and a son still at home (15).
If we could bless each of our kids with a wad of cash like that, what stipulations would we put on it? I mean guidelines that would help them avoid some mistakes we have made. This is what we came up with:
Tithe to God
First and foremost! We’ve tried to model and instill this in our kids.
Pay off all DEBTS
How true is this? Nothing robs you of joy, confidence, generosity and opportunity like debt. So we would tell our kids, “take this money and pay off ALL debt, and never get into it again.
Make a Large down payment on your home
Your biggest investment and largest expense. The lower your house payment the more income you will have to pursue what God has called you to do. Great vision always has a price tag attached.
Save for kids college and weddings
We didn’t do so good with this, and now we are paying the price. Plan, Plan & Plan some more. (Yelling in kids ear)
With all these in place, it frees you up to live a generous lifestyle. You can fund others dreams, be a part of great movements of God. You have the capability to bless others in need. What a joy!
Ok. So we don’t have a $1M bucks to give, but it sure helped us identify some areas we need to keep in front of us at all times, and the very things we need to train our kids to do!