Since we are in the midst of the holiday season, I wanted to write a post about saving, giving and spending, in respect to our children. It is so important to instill in your child the importantce of not only saving but also giving to those who are less fortunate than ourselves.
On the otherhand, as a parent, it is just as important to make sure your child understands that if they work hard at what they do, especially when they grow older and have a job, they will be rewarded monetarily. That reward should not necessarily be tucked away until they get so old that they cannot enjoy it. Spending portions of their hard earned money on themselves and their family is ok as long as the proportions are balanced based on their lifestyle.
Only you and your family can properly decide and set the goals/limits as to what your child should spend, save and give to charity.
Make your child get involved and want to give by letting them research and choose both local and international charities. It will make them feel more active and involved in the process.
Go to iVillage so you can learn how to have 'the talk' with your child about financial responsibility! The website is located here: visit ivillage.com/thetalk The website contains tips & tools from iVillage and Pass from American Express.
Also, check out the iVillage Facebook App! Click on the Badge on iVillage's Facebook page to share the page with your facebook friends. By doing so, iVillage will donate $1 to Junior Achievement for every Facebook Share! With the goal of raising $5,000! The app can be found here on facebook: http://www.facebook.com/iVillage?v=app_157549064261486