Thanksgiving, the holidays, and New Year's provide the perfect backdrop for charitable giving discussions with the kids.
Should they be setting aside a portion of their own money for donations?
If so, how much?
As I’ve written before, I like the idea of letting kids make that decision. After a thoughtful conversation with you.
It’s a conversation worth revisiting periodically though. Kids mature.
Here’s how you can inject a little data into your next charitable checkpoint. I measured the average allocations for kids on our family finance site who split their income into multiple categories. The numbers:
- 61.06% to spending
- 27.68% to saving
- 11.26% to charitable giving
How does 11% match up with your kid’s latest thinking?
There’s no right answer, but a little data might just be the nudge your kids need to up their charitable games this year.
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