Families of any means find themselves talking with children about the importance of giving back, through volunteering or donating around issues of importance. Families with significant wealth face a greater challenge in teaching their children – even in small ways, from a young age – how to manage wealth for a balanced relationship with money that leans away from a sense of entitlement and toward a mindset of responsibility and stewardship.

What these families often find is that guiding and involving their children in philanthropy in age-appropriate ways creates paths toward a greater personal understanding and self-worth based on solid values. These children grow up to appreciate their roles within a broader community and find a sense of purpose and fulfillment that extends across their endeavors.

TPI offers time- and client-tested strategies and tactics for parents to employ to achieve these goals. While we explore them in greater detail within our primer, Raising Children with Philanthropic Values, here are some key tips to get your youngest family members on the path to become, over time, financially and philanthropically savvy.

  1. Be Your Child’s First and Best Role Model - No matter your child’s age, know they are watching even when you least suspect it.  You establish the lens through which your child will view the world, even as they get older and other voices – peers, teachers, community leaders, and social media influencers – become louder and more frequent in their lives.
  2. Explore and Make the Most of Teachable Moments - Children are observant and wiser than they let on. They are aware, in their own ways, about the issues others face. As such, there are age-appropriate ways to “unshelter” children and create moments to talk about issues facing the world today.
  3. Make Philanthropy Fun - Of all the experiences in the world, the opportunity to know you have made a difference and have found, or are exploring your way toward, purpose in life is one of the sweetest.

Read the full article about philanthropic values by Leslie Pine at The Philanthropic Initiative.