Church aims to teach kids biblical view of finances

1/30/2010

Hoping to change the way a generation handles money, the Rev. Tony Scott is starting a Bible-based saving program this weekend for children who attend the Church on Strayer.

The church program runs counter to the prevailing cultural message on finances, Mr. Scott said.

"The way we teach kids is that they can get just about anything, any time. Kids are not being taught to save. But the Bible is clear that a wise person saves and invests. God's plan of economy never included a lifetime of debt," he said.

"When it says in Proverbs [22:6] to 'train up a child in the way he should go, and when he is old he will not depart from it,' it's really about economic principles if you look at the context," he added.

The Church on Strayer will open bank accounts for all youngsters "from age zero to 13" who have parental consent and are part of the church's children's ministry.

Individual and corporate donors have pledged $50 per child to get the accounts started, and the parents are invited to add $25 if they can afford it, Mr. Scott said. The money must be kept in the bank for at least three years before it can be withdrawn.

Each child also will be given three separate banks to make deposits: 10 percent for tithes, 10 percent for savings, and 80 percent for themselves.

Mr. Scott said that if a parent puts $500 in the bank when a child is born, and another $500 annually, after 20 years at 7 percent interest they will have invested $10,500 but the amount in their account will be $25,000.

Continuing to deposit $10 a week, by age 50 the person will have $250,000 in their account.

"We want to teach young people how to be savers and to live according to biblical principles and not the world's standards," Mr. Scott said.

He believes the program will change people's lives because money is a major factor in too many divorces.

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