A quick tip from Lynnette Khalfani-Cox, The Money Coach®
Today’s kids are often passionate about helping others or their communities in meaningful ways. No matter what their passion, civic-minded youth should know they can give both their time and treasure to causes they support.
More than a third of all high school teens volunteer, according to research from Child Trends. Additionally, data from The Corporation for National & Community Service show that volunteers are almost twice as likely to donate to a charity than those that don’t volunteer.
If your child expresses an interest in volunteering or donating to charity, have a conversation about how much money and time they would be comfortable giving. A 10% donation is a good guideline for youth who have money from a part-time job, allowance or other sources.
By initiating the conversation about planned giving, you can help a young person cultivate a spirit of generosity and become a thoughtful, strategic giver.
When you click on external links, you are linking to alternate websites not operated by SchoolsFirst FCU, and SchoolsFirst FCU is not responsible for the content of the alternate websites. The fact that there is a link from SchoolsFirst FCU’s email to an alternate website does not constitute endorsement of any product, service, or organization. SchoolsFirst FCU does not represent either you or the website operator if you enter into a transaction. Privacy and security policies may differ from those practiced by SchoolsFirst FCU, and you should review the alternate website’s policies.
Extra Credit provides general information to help improve our Member’s financial lives. Every situation is different, so please contact us for guidance on your specific needs. The advice provided in Extra Credit is not intended to serve as a substitute for speaking to a loan representative, financial advisor, or BALANCE counselor who can help tailor a solution for you.
If you post a comment, we will make every effort to respond or contact you directly. We reserve the right to delete comments that contain personal information, unauthorized content, or are generally inappropriate.