Posts Tagged With 'donate'

Paying It Forward with your Child

Paying It Forward with your Child

Children will not remember you for the material things you provided but for the feeling that you cherished them.

Richard L. Evans

The idea of helping others and giving is old as a world or at least since we, the human race exists. But ever since the book “Pay It Forward” by Catherine Ryan Hide, followed by the movie, back in early 2000, the real-life reaction and social movement begun. The individuals, schools and media come out with different resources and programs to promote the idea, that one small act of kindness by one individual can make huge impact on other people’s lives and the world we live in.

4 little piggybanks

Posted by Alenka  in Money No Comments »
4 little piggybanks

When teaching children about money, it is one of the priorities to teach them how to allocate the money that they get. It can be the money they found on the street, money they get from parents, grandparents and aunts or money earned for small services for others -it is important to stick to the agreed rules.

The common advice is to get them 3 or 4 piggybanks to easily divide the money. But first you have to agree on the percentages to give to each cause. Easy rule of the thumb is 30%-30%-30%-10% (or one third if you have 3 piggybanks). I prefer going for the four, because I found out that my children were confused when they have money for savings and investments together. They don’t understand very clearly what investments are and why would they need savings, when they have parents to provide them for everything:) Or perhaps decide on the amounts as sometimes it is difficult to divide the money (or you will end up collecting little coins just to get the amounts right). For example: at first I gave my daugter 15 EUR allowance, but when dividing, it was really annoying searching for quarters, so I decided to increase her allowance (for educational purposes) to 17 EUR, so she can divide her money to 5-5-5-2 EUR to each piggybank.

Encourage the child to allocate his/her money to

  1. savings (for something bigger – like PSP, computer, bike)
  2. investments (to find later on somthing that money will work for them)
  3. charity/donations
  4. spending

Of course, you should not stick to this piggybanks as an only mean of holding money. As soon there is some money in the piggybanks, discuss different money and investing options with your child. Go to the bank and open an investing account or go get them a saving account. Help them give the money to the charities, not only physically but perhaps you can wire some money accross the world.

I made my children little booklets to track all the transactions they made with the money. I even pay them the interests on the amount they are saving (until we take the money to the bank).

Use every opportunity you can to teach your child about money, how you get it, what you can use it for, how it is handled in the banks, stores…

To the Clown Doctors!

Posted by Alenka  in Money No Comments »

When teaching my children to manage money, I encourage them to save 10% of all the money they get for the charity. Then we talk about different possibilities.

They are very fond of the animals, so their first choice is giving to local animal shelters.

When we are going to buy the food for our bunnies, they give all the pennies, we are collecting in a special jar, to collection box in the store.

We also donate clothes, toys and school supplies.

I donate blood regularly and we talk about it a lot.

We were at the fair yesterday and there were the clown doctors, promoting their activities at the children hospitals. Anja (my oldest) immediately noticed they were selling red noses and of course I bought 2 of them. They make all kind of faces with them and when we came home, Anja gave me her money for the noses. She said she wants to give her charity money for the Clown Doctors. Boy, I was proud. It was actually the first time she volunteers to give money by herself without me encouraging it.

Encouraging charitable action benefits the children themselves. It:

  • Helps teach empathy
  • Shows children that their actions can have a positive impact
  • Helps connect children to their (local, national, or international) community
  • Helps children better understand and cope with unpleasant events

Do you encourage your child to give some money to the charity? Does he/she volunteers in different charitable actions?

I highly recommend these books to help you raise giving children:

And of course, consider making a donation to the Clown doctors:

clown_doctors

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