Giving, an important part of your kids money management lesson
When Teaching Kids About Money management, get them into the habit of giving away a portion of their money. They can either give to a friend or family member in need or give to a charity.
If your child earns regular money, they may choose to sponsor a charity each month (such as sponsoring a puppy or a child from a 3rd world country at a certain amount). If they aren’t earning regular income, one idea is to have them purchase tinned food or biscuits and give to the animal welfare so that they can feed the animals who are homeless.
One other option instead of giving money, is to have your child do volunteering work and give away their time – it doesn’t really matter. The main point is to have your child understand the concept of giving and how important it is.
