Teaching Kids About Debt with Howard Dayton
Faith & Finance with Rob West
“Train up a child in the way he should go; even when he is old he will not depart from it.”- Proverbs 22:6 God’s Word tells us that children should be taught early how to live wisely and righteously, including how to handle money. Howard Dayton is here to explain why it’s especially important to teach kids about the dangers of debt. Howard Dayton is the founder of Compass Financial Ministry and the former host of this program. He is also the author of a number of books on the topic of Christian Finance and Stewardship.
Show Notes
God’s Word tells us that children should be taught early how to live wisely and righteously, including how to handle money. Howard Dayton is here to explain why it’s especially important to teach kids about the dangers of debt.
Howard Dayton is the founder of Compass Financial Ministry and the former host of this program. He is also the author of a number of books on the topic of Christian Finance and Stewardship.The Little-Big Principle: Starting Small
The Little-Big principle is based on Luke 16:10: “He who is faithful in a very little thing is faithful also in much.” This principle encourages parents to start small when teaching children about money. The idea is to give kids small amounts to manage, like nickels and dimes, and then gradually increase the amount as they prove responsible. Eventually, they’ll be prepared to manage larger amounts of money.Parents should aim to steadily increase their children’s financial responsibilities so that by the time they’re seniors in high school, they’re independently managing most of their finances, aside from essentials like food and shelter. They should also be as systematic in teaching children about money as schools teach them to read and write—starting with the basics and progressing over time.
When children reach their junior year in high school, they should open a checking account and get a secured credit card. This allows them to learn critical skills, like reconciling budgets and paying off balances in full each month. Developing these habits early on can set them on a path to financial freedom and help them avoid debt throughout their lives.
The MVP Parenting Method: Model, Verbalize, and Provide Practical Opportunities
The MVP method—modeling, verbal communication, and practical opportunities—is a very beneficial framework for teaching children about money. All three are essential for training children to be good stewards of God’s resources.
You Might Also Like
December 12, 2025
Learn to Negotiate
When was the last time you negotiated the price of something you wanted to buy? Rob West reminds us that in many countr...
December 12, 2025
How to Have a Christ-Centered Christmas Without Overspending with Crystal Paine
Christmas is meant to be a season of joy—but for many of us, it becomes a whirlwind of overspending, overcommitting, and...
December 11, 2025
Scam-Proof Stewardship
Scammers use fear to steal money from the unsuspecting. Rob West shares items to beware of when scammers come your way a...