Giving Compass' Take:

• Kris Putnam-Walkerly, writing for Forbes, describes charitable giving strategies for young children by using jars. 

• How can family philanthropists in particular benefit from this practice? What other skills is this teaching children?

• Read the Giving Compass guide on Family Philanthropy. 

Starting as early as preschool for some children begin the practice of preserving a little money to share with others in need. For example, pay a weekly $1.00 allowance with three quarters, two dimes and one nickel. Place three clean jars in your child’s room labeled “save,” “spend” and “give.”

Keep up your own philanthropic practice and be transparent about the choices you’re making.

Encourage your child to place two quarters in the “save” jar each week, one quarter in the “spend” jar and the two dimes (or 10% of earnings) in the “give” jar. Then allow your child to decide where the final nickel should go.

Discuss what each jar means and what the money in it might be used for, then set goals. If your child craves a new electronic gadget, explain how many quarters will be required to purchase it and suggest that your child add quarters to the “save” jar for that purpose. The “spend” jar could be set aside for smaller purchases. For the “donate” jar, discuss a few basic needs in simple terms, then allow your child to choose a cause that feels important.

Read the full article on teaching children to give by Kris Putnam-Walkerly at Forbes