Involving kids in charitable giving is a powerful way to instill a sense of generosity in them. It not only helps them understand the importance of giving back to society but also sets them up for a future of philanthropy. According to the National Philanthropic Trusts, adults are more likely to donate to nonprofit organizations if their parents did the same.
Involving your kids in your charitable giving not only helps build their sense of generosity, but it can also deepen your connection with them. It opens up conversations about the world’s pressing issues and provides insights into what causes your kids are passionate about. This can be a surprising and rewarding experience, giving them agency in contributing to solutions in a very real way.
For example, I recently joined the Board of City Hope San Francisco, a community center for the underserved Tenderloin neighborhood. Choosing to give my time and money to City Hope is not only rewarding but feels like a responsibility I have to my community. I share these experiences with my children, contrasting our privileged life with the challenges faced by others. As they grow older, I plan to make volunteering a family activity, hoping to instill in them a mindset of service and responsibility towards helping others.
This is where Daffy, a Donor Advised Fund (DAF), comes in. Daffy provides a platform for families to engage in charitable giving together. It's a great way to teach financial literacy, as it becomes part of a larger conversation about prioritizing money and creating an overall financial picture. By demonstrating to your kids how to include charitable donations as a consistent part of their budget, they’ll gain the valuable life skill of being thoughtful with their finances.
Moreover, giving is scientifically proven to improve our well-being, both physically and mentally. Daffy for Families helps you contribute to that wellness for your kids early in their adult lives.
When you first add your family to your Daffy fund, talk to your kids about why giving is important to you. Maybe there was a specific person or moment in your life that served as a catalyst to start your own habit of giving. Sharing your giving inspiration can be a powerful way to motivate your kids to do the same.
So, how are you teaching your kids to give? Consider Daffy as a great option for a DAF, and make giving a habit. Join the Daffy community today and start building a legacy of generosity with your family.
Please note that the information contained on this page is for educational purposes only and should not be considered tax advice. Any calculations are intended to be illustrative and do not reflect all of the potential complexities of individual tax returns. To assess your specific tax situation, please consult with a tax professional.