Mel Rees, a contemporary Christian author, observed that “money…is life…in a tangible form.” He reasoned that life is “an expenditure of time and talent,” while money is “the result of the use of time and talent.”[1]
From this perspective, two simple yet compelling implications emerge regarding money: “to waste it would be to waste life; to hoard it would be to bury life.”[2]
Seen in this light, financial education becomes an essential part of a child’s development, just as important as health or moral education. Both family and school play a crucial role in counteracting the influence of commercial advertising, where companies invest enormous sums to convince even children that happiness can be bought—often with their own money or their parents’.
The family as the first educator
The family’s role in financial education is critical, not least because parents serve as role models, shaping their children’s attitudes toward money through their own financial habits.
Experts disagree on the ideal age to begin financial education, but given that play-based learning is among the most effective teaching methods, children can start grasping basic financial concepts as soon as they learn to talk and count. At this early stage, complex financial discussions may not be appropriate, but children can still learn simple lessons—such as recognising the value of coins and banknotes or washing their hands after handling money.
As they grow, playing “shop and customer” can be an excellent way for children to practice buying and selling, recognising prices, and calculating how much they need to pay and how much change they should receive. By the time they approach school age, they can already begin to understand that money is earned through work—whether by parents going to their jobs or running a business to generate income.
Before giving a child pocket money, it is best to involve them in the family’s financial decisions. This helps them distinguish between needs and wants and understand that reckless spending can mean going without essential items such as food, clothing, or school supplies.
Children can also research certain purchases and even take part in choosing the best option. Beyond making them feel useful, this teaches them the value of money and possessions, helps them grasp the family’s financial priorities, and shows them how they can contribute to the household’s well-being.
A child’s budget can come from money allocated for everyday expenses, small rewards for helping with household chores, payments for services provided to relatives or friends, or gifts received on special occasions like birthdays. Managing this budget has multiple educational benefits, from learning to compare prices and practice saving to making thoughtful purchasing decisions and distinguishing between needs and wants. Even poor choices, which are inevitable at the beginning, are a natural part of the learning process.
School: a partner, not a substitute
Since financial education is a long-term process—and considering that many parents have limited financial literacy—the OECD has recommended incorporating financial education into school curricula from an early age.
For example, in Sweden, a subject called “Household and Finances” aims to help children understand and, as adults, avoid excessive debt. In Germany, children learn about the importance of saving through Sparkassen, the country’s savings bank system, which serves as a benchmark in financial education.[3] Naturally, any financial literacy program for children must be age-appropriate.
Research also suggests that financial education can significantly improve students’ financial behaviour, particularly in underprivileged areas.[4] A well-coordinated strategy in this field should follow several key principles, such as:
- a coordinating body to ensure the program’s relevance and long-term sustainability;
- a structured learning framework that defines objectives, learning outcomes, content, teaching approaches, resources, and assessment plans;
- identification of a sustainable funding source;
- continuity in financial education, starting from primary school and extending through university;
- flexibility in teaching methods, integrating financial education not necessarily as a standalone subject but within other disciplines such as mathematics, economics, or social sciences;
- training teachers and equipping them with appropriate resources for each educational level.
In Romania, financial education became a formal subject only in the 2020–2021 school year, and even then, only for eighth-grade students as part of the “Social Education” curriculum. For other students, financial literacy is addressed through Financial Education Day and the optional subject “Entrepreneurial Education,” available in middle and high school.
It is true, however, that prestigious institutions such as the National Bank of Romania and the Financial Supervisory Authority, along with several NGOs, have developed engaging and well-structured financial education programs for children.
The Church: a potential ally
If the Church is genuinely committed to fostering the balanced and harmonious development of children, catechism programs could incorporate substantial financial education content. The idea that work remains an inalienable, useful, and fulfilling aspect of human existence—even in the context of sin—has strong biblical support (Genesis 3:23; Proverbs 12:27; 1 Thessalonians 2:9; 2 Timothy 2:6). The remuneration of production factors—just as natural in biblical times as it is today—is also well-documented in Scripture, with all four forms finding corresponding examples in its pages.
Scripture also provides references to barter transactions (Genesis 47:17; 1 Kings 5:10-11; Ezekiel 27:9) as well as monetary exchanges, which involve two key processes: buying/selling and payment/receipt (Genesis 25:10; 43:4; Exodus 21:35). It even addresses the mechanisms of price formation in the marketplace (Genesis 44:2; Deuteronomy 2:28). Beyond this, the Bible discusses financial relationships and credit, taxation and public finance, business management, and even economic and financial record-keeping.[5]
More important than simply providing biblical arguments on financial topics is the Church’s role in shaping responsible economic behaviour—encouraging saving, supporting those in need, avoiding financial dependency, and rejecting greed, among other values. In this light, the Church can be seen as completing the educational triad, both in general and specifically in the financial education of children.
Dan Constantinescu holds a Ph.D. in economics and a degree in theology. His professional experience spans academic finance, parliamentary work, and leadership roles in financial and banking institutions. He is also the father of an eight-year-old boy.
