Teaching kids about money usually involves three goals: saving, spending, and giving. Educating children about charity and the benefits of giving is important, and there is no better time than the start of the holiday season!
Lauren Greutman discusses the Importance of generosity as a way of life in her blog. She believes that it is important for kids to understand that no matter what their current financial situation, there is always someone less fortunate.
Kids as young as three can grasp the principles of giving back and feel empathy. Dave Ramsey lists several tips for teaching kids about giving. Also consider volunteering at a local animal shelter, visiting a non-profit organization, participating in a fundraiser at school or church, and joining a volunteer organization like the Boy Scouts or Girl Scouts.
Acts of kindness and compassion have positive reinforcement built right in! Your kids should have an immediate feeling of pride and accomplishment, which will hopefully inspire them to do more!
See the Change
Physical representations can make learning easier. There are a variety of fun options to help kids visualize and understand saving.
Moonjar is a cute multicolored piggy bank with three coin slots that accept both coins and folded bills. The sections can be dedicated to saving, spending, and giving. This handy bank creates an ideal opportunity to talk with your kids and help them make decisions about their money. As they get older, the canister can also be used to practice calculating percentages!
Tech-savvy kiddos may prefer to plan and watch their funds grow online. SmartyPig makes things clear and simple, with features that allow you to set up multiple savings goals and link your account to your financial institution. Plus, they will have a visual representation of the interest as it accumulates in these high-yield accounts!
Keep it Local
It is important to give where we live. There are a variety of resources available to help you pick the right organization for your family.
Charity Navigator is the nation’s largest and most-utilized charity evaluator. They examine and rank non-profit organizations to help donors make intelligent giving decisions.
Generosity can take a variety of forms. Maybe financial gifts come to mind first, but also consider giving of your time or sharing your belongings. Notable charities include Salvation Army, Habitat for Humanity, Feeding America, your local Boys and Girls Club, and the YMCA.
This year, Giving Tuesday falls on December 3, 2019. Annually the first Tuesday after Thanksgiving, this globally recognized movement kicks off the holiday season with a reminder to support the causes close to your heart and in your community. Their website features a handy tool to help you search for activities in your area.
These #GivingTuesdayKids are making a difference every day and a great way to start the conversation with your kids!
We teach our kids about individual responsibility and good citizenship every day. This holiday season fill their hearts with even more kindness and a reminder that when you give, you contribute to something much larger than yourself. If you want to change the world, start in your community.