By Gretchen Halpin | Chief Strategy Officer
In my last blog post, A Mom’s Money Moment, I reflected on how my children thought about money, saving and investing in their future. For many families, charitable giving also plays a role in the young relationship our kids have with money.
As parents or grandparents, we universally wish for our children to have a sense of empathy for their fellow human beings’ needs, but how do we not only educate but implement charitable giving as a part of money management education?
With digital currency becoming more and more the norm – gift cards and product code gifts replacing the traditional money in the card – it becomes increasingly difficult to demonstrate an allocation of funds to charity. However, the same technology that takes away the paper money aspects of giving also creates huge opportunities for young kids to participate in a more sophisticated way. For example, starting an online fundraiser or creating a social campaign is only a few clicks away on crowdsourcing sites such as Indiegogo, CrowdRise and GoFundMe. These sorts of initiatives, with proper parental supervision and support, show children that even the smallest donation or contribution can make a considerable impact—especially when you work with others.