On Philanthropy: Give Kids a Chance to Give

On Philanthropy: Give Kids a Chance to Give

Many of us adults give considerable thought to how we will pass along our money to the rising generations in our families when we die. Far fewer of us also consider how we will pass along our “value assets” — our family’s unique approach to community, giving back and helping others, while we’re living.

The passing along of family values cannot take place all at once, in a few conversations towards the end of life or in a paragraph buried in a will. Rather, to be effective, it must be an ongoing and integral part of family communications from the time children are very young well into their adult years.

A couple of generations ago, young children each had a few prized toys. Today, many have far more toys and games than they could ever play with and more books than they could ever read. On every birthday, holiday or other special occasion, the amount of “stuff” continues to accumulate.

Children as young as toddlers can donate gently used toys and books to a local nonprofit serving children. Likewise, for special occasions, your child can request donations to a local charity in lieu of gifts from their peers. Encourage the child to review a few nonprofits and select one that strikes a chord. Explain how the donations will be used to help people or promote a cause. When possible, have the child take the gifts (new or used) to the charity to participate in the transfer. Parents can set an example by making the same request for their own birthday and holiday presents.

When children reach the age to receive an allowance, consider the “three jars” approach: one jar for spending, another for saving and one for giving. One-third of the allowance should go into each jar. Help the child identify a personally meaningful charity to periodically receive the contents of the “giving” jar.

Children who are old enough to more actively participate can do all of the above, as well as join with older family members in a volunteer project — such as packing meals at a food pantry, tutoring younger children or engaging in a cause-related walk, run or ride. Meaningful volunteer activities can also be included as part of family vacations, especially abroad.

As children grow older, they can become more meaningfully involved in family giving decisions.

In too many families, philanthropic values and activities are unilaterally created and imposed by the older generations — with little consideration for the lens through which the younger generations see the world. This is nearly always a lost opportunity to engage in thoughtful conversations about what members of each generation value.

— Tribune News Service

Author: Tribune News Service

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