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Teaching Your Kids About Generosity
Updated: November 12, 2020 |
Taylor Kovar, CFP

Here’s an idea we received from one of our readers that we couldn’t resist passing along. It reminds us that kids can be generous. But teaching your kids about generosity is very important in building that!

“Just yesterday, our kids took some money they had been saving for a few months and used it to buy an assortment of hats, gloves, and socks. My husband and I bought our own pile too. We handed out over 40 pairs of gloves, 40 hats, and 40 socks to the homeless people standing outside. The kids had their own bags and got to individually hand them out. The worst part was that there were still more people we didn’t get to bless because we ran out, so we are thinking of doing it again.”

We love this. Here’s why:

Generosity.

We love that the kids came up with this idea and the parents got behind it. How cool is this!? The kids met a very real, social need in a practical way. They got first-hand experience in helping someone whose life wasn’t as easy as theirs. We’d love to hear the conversations that occurred as they handed out the items. The recipients were blessed but not as much as these kids. What a valuable lesson about giving is more rewarding than receiving!

Delayed gratification.

The parents said the kids had been saving for a few months. Think about how this teaches your child money management according to their Money Personalities. For the Saver, this was a no-brainer; for the Spender, there needed to be an intentional spending plan in place that included a saving component. The fun was in the investment potential for the Risk Taker —how would this idea be received? For the Security Seeker, you can bet they took their money and found the best quality deal they could find for the money! For the Flyer, this project fed their need for a relationship with their family and new friends.

Parental buy-in.

Not through providing the money though. The kids used their money and then the parents did the same thing. The kids were the drivers behind this project. Imagine how encouraged and excited they were to have their parents jump into the project and provide more gifts for the homeless.

You can bet these kids will do this, or another similar idea, again. Encouraging generosity in our kids through practical ways is always a great idea.

Taylor and I were raised in homes where giving was the #1 thing we were taught, so we try to implement those same teachings into our own kids now. They know that at least 10% of what they receive, we’re giving it back.

What are the ways you’re teaching your kids about generosity? Leave a comment below!

As always,

Megan Kovar

For more tips on teaching important money skills to your kids, follow us on Pinterest, Twitter, and Facebook.

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