Teaching kids about the importance of giving, philanthropy and basic money management can be daunting. But, there is a way to make it fun and also give your children a bigger sense of purpose. (and maybe get them to do some extra chores around the house!) (we got your back!)
Either give a special allowance or double your childs’ allowance. Half is for them to keep and save, the other half is specifically designated for the purpose of giving away to a cause or charity they care about. As their charitable savings increases over the next several months, they can research what charity or cause they would like to support. Or maybe they have a specific item they would like to purchase and donate to someone in need. Encourage them to research organizations online, watch documentaries or even take tours of local organizations in your area. Then ask them to create a plan on what they would like to do and budget out how long they will need to save in order to make that contribution.
TIP: Go for something easy on the first go around. You want them to get the taste of philanthropy early on.
PIGGY BANK IDEAS
Make It Cool – You need to present the idea in a way that is not like a ‘chore’, but something you are also really excited about. You can purchase a cool piggy bank (Cool Piggy Bank) special for them to store all of their ‘Kindness Money’.
Encourage Collaboration – If you have more than one child, encourage them to work together so their money can go farther.
Make it easy – Choose ideas that can get them started quickly. Don’t ‘Build A School’ right off the bat. . . I mean, that would be awesome, but go for something that can get them giving relatively quickly. Then you can encourage them to take on bigger and bigger projects.
1. Buy dog treats and give them out to the pets at the humane society. (be careful, you may come home with a puppy!)
2. Buy a bunch of Roses at Costco and give them out to your local veterans hospital.
3. Buy desert for someone randomly in a restaurant.
4. Buy a LifeStraw water filters for a whole family. (click here)
5. Give out a loan at Kiva.org (GREAT IDEAS HERE!!!)
Have an idea that you’d like to share or have something to add? Be sure to comment below.