One important aspect of handling your money properly is that it allows you to give to others. Nearly every book I have read about money (and I’ve read quite a few) mentions the importance of charitable giving. It is important to teach your children at a young age this aspect of money management. It will allow them to see how much money can help those in need. Here are four ways that you can teach your children about giving and money management.
1) If you attend a church that accepts donations you may encourage your children to donate to the church fund every week. If your church believes in tithing, this is a great way to teach your children about giving to others. It is easier to begin this habit when you are young.
2) You can have your child choose a charity that they are interested in and donate part of their allowance, chore money or birthday money each year. They can also conduct or participate in fundraisers for the charity. For instance if your child is interested in helping animals, he could donate to the Humane Society or another similar organization.
3) Christmas is a great time to teach the importance of giving to others. You may want to choose a child from Angel Tree or a similar organization, as a family. Then you can have a list of jobs that your child can do to earn the money to pay for the gift. After she has earned the money take her shopping for the gift. This will help to bring the entire event full circle.
4) Another way to teach them about the importance of giving is to make it more personal for them. This could involve volunteering at a soup kitchen or taking a tour of a charity to find out where the money goes, and how it is used. It really helps children to see things in action.
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