Explain how you decide which causes to support and how much to give. This can be a great opportunity to discuss the concept of a Donor Advised Fund (DAF) and how Daffy makes it easy to manage your charitable giving. You can also talk about the tax benefits of using a DAF and how it can be a smart financial strategy.
Involve them in the decision-making process
Once your kids are old enough, involve them in the decision-making process. Let them suggest charities to support and discuss why they chose those particular causes. This can be a great way to learn more about your kids' passions and values.
Make it a family tradition
Consider making charitable giving a family tradition. Whether it's an annual end-of-year donation or a monthly contribution, regular giving can help instill the habit of philanthropy in your kids. With Daffy, you can easily set up recurring donations to your favorite charities.
In conclusion, sharing your charitable giving experience with your children is not only a great way to pass on your values but also an opportunity to teach them about financial literacy and the benefits of giving. With Daffy, you can make this process easy and enjoyable for the whole family. So why not get started today and create a legacy of giving with Daffy?
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.