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.
Like this tip? Get the next one in your inbox by subscribing here.
Want to turn these tips into action? Check out FamZoo.com.
No comments:
Post a Comment