As a personal finance advocate, I have written over a thousand articles, columns & blogs, given over a thousand talks & lectures over a dozen nations, written and published four books on managing money and building wealth. However, if you have heard me you know that I often remind people about the true purpose of money and a stern warning about the worship of money. Instead of just being a tool, money to others becomes an idol wether they realize it or not.

Jesus knew all about gods such as Baal in the Old Testament, who tempted the Israelites to worship him for the sake of wealth. The Lord also recognized that people in his day faced a new, subtler, and perhaps even stronger temptation: to treat money as an idol like Baal, an idol to worship as a god to get what they wanted.

But humans cannot serve two kings. Jesus reminds us that when we try, we risk devoting ourselves to money and hating him as mentioned in Luke 16:13, ESV: No servant can serve two masters, for either he will hate the one and love the other, or he will be devoted to the one and despise the other. You cannot serve God and money. In fact, the New Testament teaches that money and greed are often the loudest and most appealing idols seeking to steal our attention. Paul declares that greed is idolatry, that to be greedy is to worship other gods: ...Don’t be greedy, for a greedy person is an idolater, worshiping the things of this world” (Colossian 3:5, NLT).

Once we remember that the Jews saw idolatry as the ultimate sin that put one outside the community of faith, we can hear the full force of Paul’s words. Idols had always threatened to steal the love, trust, and service God deserves and demands. By equating greed with idolatry, Paul provocatively told the church they didn’t have to go into a rival temple to worship another god. Their greedy hearts created other gods out of every coin in their coffers.

That is why Jesus warned his followers to watch out for all kinds of greed. His parables tell of farmers destroyed in the midst of their prosperity because they hoarded wealth and failed to be rich toward God (check out Luke 12:16–21), of rich men sent to hell for their failure to let go of their wealth for the sake of their neighbor (check out Luke 16:19–31), and of eternal judgment declared on the basis of one’s willingness to share with those in need (check out Matthew 25:31–46). All these parables point in the same direction: money wants our worship. But every bit of ourselves we give to our stuff we snatch away from our true King.

Because our material possessions so often seduce us into worshiping them like gods, they pose possibly the preeminent threat to worshiping Jesus. When we worship money, it mauls us. Money becomes a spiritual power that too often uses us rather than the other way around.

Don’t get me wrong, money is important but it should not be the end goal and it will be an idol. Here is something I need to remind myself all the time: Wealth and the ability to create wealth comes from the Lord, and it is not for our own purpose but for His.  Building wealth without the gospel makes money a hard task master and we get sucked into a whirlwind pursuit of earthly treasures.

Let us ask ourselves this question — in what ways are we tempted to worship money? Maybe it is time for a heart check.

Question: Hi Randell. I’m a mom of two kids—a 3-year-old girl and a 4-month-old baby. I know that they’re still too young to understand what money is, but my husband suggested that we already start teaching them the value of money. I think this is a good thing. Soon, they will be in school and I want them to use their allowance wisely. What’s the best way to do this?—Dina, from Facebook

Answer: Dina, I’m glad you’re already thinking about how to pass on important money lessons to your kids—especially since money management is not part of the typical school curriculum. As a parent, your kids will look up to you for these important financial lessons. In fact, research says that kids start inheriting money habits from their parents as early as 7 years old. Early childhood is a great opportunity to pass on healthy attitudes towards saving and investing.

Your kids are indeed young, but if your 3-year-old is old enough to count, then she is old enough to start learning about money. Start by sneaking in some money lessons in a playful manner. For example, nursery rhymes are a great way to start instilling a money mantra. Create a simple rhyme like, “See a coin? Save a coin!” and mimic the act of putting a coin in a piggy bank. Your little girl might not understand what this means right now, but just like “Mary had a little lamb,” this could stick with her for life.

Storybooks are another great way to pass on positive financial habits. I recommend Rose Fres Fausto’s The Retelling of the Richest Man in Babylon, which is a story and activity book that teaches kids the basic laws of money. Go through the activities with your daughter—it’s a great reminder to adults just how simple these laws are.

By the time your kids are old enough for kindergarten, they can already have their own bank account. This will be important in terms of teaching them how to save, and teaching them that money should be protected. At this age, kids don’t understand abstract concepts like mobile deposits. So you need to make the lesson stick by having them do tangible interactions.

Bring the kids to the bank and encourage them to hand the money to the teller while making the deposit. Show them the bank book and explain that this money can grow if they leave it in the bank and don’t withdraw anything. Help them understand that these are savings they can someday use to buy a car or go to college.

Once your kids are in grade school, you can build upon these financial fundamentals by setting mid-term goals—the kind that requires a bit of discipline and teaches sacrifice. For example, if your child wants to buy a bike, explain that she needs to set her allowance aside for a few weeks in order to afford it. To boost her motivation, you can track progress with a visual graph.

Bringing the kids when you do the groceries offers great opportunities to teach smart financial decision-making. For example, you can compare several brands of cereal, and show that the imported ones taste just like locally made ones—but costs twice as much. And that’s why you won’t buy it. When your kids are older, you can give them a budget and a grocery list, then divide and conquer supermarket duties.

Introducing the benefits of charity and tithing is also a good way to teach healthy money habits. Encourage your kids to donate part of their allowance to a charity or non-profit and encourage them to tithe as this make them understand the value of stewardship. You can also volunteer your time as a family, or hold a birthday party in an orphanage. Doing charity work at a young age develops the core value of sharing their wealth to others in need, while teaching them to appreciate the material goods they have. Teaching them that all their money belongs to the Lord will do wonders on their financial behaviors in the future.

For these strategies to be effective, you and your husband need to be good financial role models to your kids. Your words and actions should not contradict each other, especially while your kids are young. For instance, if you tell your daughter she can’t buy a toy because it’s too expensive, and you turn around and buy something for yourself, it sends her the wrong message. Remember, in parenting things are caught, not taught.

Besides teaching your kids how to save and budget, it’s important to pass on a healthy attitude towards money. Giving the impression that you’re struggling to feed the family can instill a fear of money in young kids. Avoid sighing when you open your credit card bill or complaining when you take your wallet out to pay for something. Choose your words carefully. Emphasize that when used carefully, money can be a valuable tool to a good life.

It’s never too early to start teaching kids the value of money, and I’m glad you and your husband are already thinking of how best to do this. I’m confident that you will do a fine job in raising money-smart kids.

“Train up a child in the way he should go; even when he is old he will not depart from it.”—Proverbs 22:6, ESV

Want to get a copy of my books that are great for your older kids? E-mail michael@randelltiongson.com to order.

I thought about a lot of marriage breaking up and it seems that annulments have been increasing in the Philippines and has actually been more socially accepted. So why do marriages end? How can a couple who are really in love with each other end up hating each other? How did “till death do us part” become such a cliché?

I have heard many speakers, counselors and even preachers say that money is the number one cause of separation by a factor of 4:1. While money is definitely a primary concern of many break-ups, there is very little factual data to support such a claim. However, many studies would put money as one of the leading cause along with communication, infidelity, wrong expectation, intimacy and commitment; although not necessarily the number one and by no means a factor of 4:1. Sorry to burst the bubble of some speakers, counselors and preachers – I would urge them to double-check their facts.

Despite money not being the leading cause, it is definitely a concern for many marriages and can lead to the breaking up of marriages. I am not an expert in marriages and I have no qualms about telling people that I can be clueless when it comes to keeping a ‘perfect’ marriage, just ask my wife! However, after 26 years of being together, my wife and I managed to survive the many challenges in our marriage and most of those challenges are financial in nature. By God’s grace, I think our union will survive and continue to be blessed in the next 26 or so years.

Here are some suggestion married couples can consider with regards to finances in their marriage:

1) Communicate & be transparent – I find it disturbing that many couples are unaware of each other’s finances. Even the law acknowledges that a marriage brings union, including their finances and made provisions for conjugal properties. Bereft of any pre-nuptial agreement, a marriage solidifies the finances and everything as now co-owned. Statement of income should likewise be transparent; many problems erupt from false assumption. A wife might be yearning for better family lifestyle thinking that the husband’s income can sustain, only to be dismayed that it can’t. By being transparent and communicating properly, expectations can be managed.

2) Plan, plan, plan. Preparing a budget and sticking to one is definitely a conjugal exercise. I highly recommend that a couple sit down and discuss their budgets, how to disperse income and what to prioritize with their limited resources. A couple must agree on the budget and once a budget is set, they must respect each other by be faithful to the budget. Of course, some flexibility should be exercised as well.

3) Practice family financial planning.  Set up an emergency fund. Think long term — save & invest for the future. Buy life insurance (this really brings peace of mind). Prepare for retirement. Avoid being buried in debt and if you need to take a loan like home loan, talk about it and get counsel first.

4) Practice stewardship. Many issues arise if couples don’t practice stewardship. They need to be responsible and accountable to each other and most especially, to the Lord.

5) Learn from other couples. This is not just about money management, but also about marriage in general. Have mentors for your marriage and please chose those with a good track record for obvious reasons. You don’t need to learn by experience because it is way too risky to experiment with your marriage.

And here’s my most cherished tip for married couples, keep the Lord in the center of the marriage and everything will turn out great. “If they obey and serve him, they will spend the rest of their days in prosperity and their years in contentment.” – Job 26:11, NIV