7 Tips to Leave an Inheritance for Your Children’s Children
Wanting the best for your children is a universal desire for all parents. Just as God doesn’t desire to see His children struggle, no one ever aspires to see their children struggle or go through the financial challenges they may have faced.
Far too many of us know the “struggle” too well. Trading long hours for dollars to barely get by. Chances are, your parents did the same thing and your parent’s parents likely did too. In fact, financial issues are one of the top reason for marital problems and divorce.
Our beliefs and understanding of finances typically comes from our forefathers, creating similar cycles until something or someone changes. Proverbs 13:22a says, “A good person leaves an inheritance for their children’s children…” This wasn’t my story or my husband’s. But it doesn’t have to be the same for our children. Together my husband and I plan to one day leave an inheritance for even our future grandchildren. Below are 7 tips we’ve discovered and started doing to create the necessary financial changes in our lives:
1. Mindset: We should never idolize or worship money but our belief system and mindset regarding finances can explain a lot. How do you currently view money? Do you believe only the rich get richer and the poor get poorer or that it’s hard to come by, etc? Those may have been your past experiences but they don’t have to continue to be your reality. God desires to see his children prosper. If needed, shift your mindset to align with God’s word regarding your finances.
2. Purpose: Discover and walk in your purpose. By doing what we are created to do opens doors and God provides provision.
3. Financial stewardship: How are you managing your finances? Can God trust you with what you have now? Luke 16:10 says, “Whoever can be trusted with very little can also be trusted with much, and whoever is dishonest with very little will also be dishonest with much.”
4. Giving: This one is pretty self explanatory. “Give, and it will be given to you. A good measure, pressed down, shaken together and running over, will be poured into your lap. For with the measure you use, it will be measured to you” Luke 6:38.
5. Investing: Most of us were taught to go school, get good grades and find a good job. And that’s it! Seek counsel and wisdom on how you can invest your money, time and talents to reap a return. The parable of the Talents (Matthew 25:14-30) is a good illustration of investing.
6. Working hard: Even though God doesn’t desire to see us struggle we still have to do our part. We can’t sit around doing nothing and expect a return. Proverbs 10:4 says, “Lazy hands make for poverty, but diligent hands bring wealth.”
7. Raising your children to do the same: Starting young, we should begian instilling all of the above into our children. An inheritance is not just financial, it is also wisdom. Teaching our children how to give, invest, steward their money, etc will create a generational cycle of financial success.