Giving Compass' Take:

• Alexis Blue explains research that shows that teaching kids about giving is beneficial in the long-term. 

• How can you best introduce children in your life to giving? What age appropriate methods and causes could you use to introduce them? 

• Learn about one way to teach young children about giving

One of the most valuable lessons parents can teach their children about money might be how to give it away. A new study explores how financial-giving habits extend through generations, and how early life lessons in giving may contribute to personal and financial well being later on.

Existing research has established that children learn more about finances from their parents than any other source. In previous work, University of Arizona researcher Ashley LeBaron highlighted how important it is for parents to give their children hands-on experience with money, in addition to having discussions with them about money and presenting a good financial example.

LeBaron's new study, in the Journal of Family and Economic Issues, suggests that hands-on experience with giving may be particularly important.

Teaching kids to give is important for a couple of reasons, LeBaron says.

From a practical standpoint, it can be a good way for kids to learn financial basics, like budgeting and saving. For example, some study participants talked about having money jars from a young age, with one jar dedicated to money they would save, another for money they would spend, and one for money they would give.

"If a certain percentage of your money goes toward giving, that's the start of a budget right there," LeBaron says.

Lessons in giving may also help set the stage for a happier, healthier future.

Read the full article about teaching your kids about giving by Alexis Blue at Curiosity Makes You Smarter.