It’s never too early to engage children in charitable giving, and a great way to do this is by giving a charitable allowance.
What is a charitable allowance?
A charitable allowance is an allowance you give to your child, but in charitable dollars. Whether you give them $10 every month, or as a reward for doing well at school, your child can choose the causes or charities that they would like to support .
Giving a charitable allowance creates an opportunity for you to discuss charity with your child, get them thinking about the causes that matter most to them, and spark their spirit of generosity.
Giving a charitable allowance with Charitable Impact
Using your Impact Account to give a charitable allowance is easy, just follow these steps:
- If you don’t already have an account, you’ll need to sign up. Setting up a Impact Account is free, and allows you to manage all of your charitable giving in one place.
- Create a Giving Group for your family.
- Deposit a charitable allowance into your family Giving Group. If you’d like to give a charitable allowance monthly, you can set up a recurring donation to your giving group.
- Take some time to help your child allocate their charitable allowance to the charity, or charities, of their choice.
When to give a charitable allowance
There are many different ways in which you could give your child a charitable allowance. You could give them $10 every month, to establish giving as part of a regular routine. Alternatively, you could give a charitable allowance as a reward for when your child does well at school, completes their chores, or accomplishes something significant.
There is no wrong way to give a charitable allowance — the important part is engaging your child with charitable giving. In doing so, you are empowering them to make a difference to the causes that matter most to them!
Do you give your child a charitable allowance? If so, we would love to hear from you. Get in touch at @wearecharitable!