Traditions are a cornerstone of a family’s values. Not only do they act as a window into your family’s priorities, but also directly influence a child’s perspective growing up.
A beautiful tradition to begin or nurture as a family is charitable giving.
Charitable giving comes in many colors, and there are several ways to give of your time, talents, and resources to causes you care about. Whether you donate canned foods to a food bank or a sum to charity, you’re igniting a ripple effect of giving.
It’s never too late to start a new tradition or strengthen your relationship with your family, but how exactly can charitable giving bring families closer?
Let’s find out!
Talking to Your Family About Finances & Giving
Financial planning encourages an open channel of communication, especially surrounding familial funds. You can help put your plan into action by discussing your financial goals clearly and efficiently.
Having casual weekly conversations, regular monthly check-ins, or formal family meetings throughout the year can help to unify your family and promote financial literacy. Doing so opens up the lines of communication and allows you to introduce your children to the value of giving throughout your life.
Furthermore, organizing a realistic charitable contribution plan will encourage teamwork to turn the goal into a reality. A contribution can range from a weekly donation at your local church to a volunteer day every few months to a more considerable sum you invest for a future gift.
Making Giving a Tradition
The best way to maintain a long-term habit or tradition is by stacking it with another. Associating the tradition of giving with another activity can make it more of a family event rather than a simple conversation that children might easily detach from.
For example, start by engaging your family in a valuable discussion of how they’d like to give over Thanksgiving dinner.
When determining what charity or organization to donate to, consider the following questions:
- What change do we want to see in the community?
- What cause do we care the most about?
- What impact do we want to make?
Your money and values are deeply connected. A dollar isn’t just a dollar; it’s an extension of the things most important to you. Being aware of how you spend and donate will ensure your money supports causes that your family is passionate about.
Once your family comes to a mutual agreement of where they’d like to donate, formulate a plan and timeline to achieve it.
Regardless if you choose to collect the contribution over an entire year or just a couple of days, make sure to make the “donation day” special. Below are some ideas.
Before riding over to pick out a holiday tree, sign a check and drop it off on your way to the tree farm. If you plan to donate canned goods, have your children load the cart and attach a holiday message to each item. When making an online donation, submit the sum after a big breakfast on a holiday when the whole family is home.
After donating, reflect on the contribution as a family by asking questions such as:
- How did giving make us feel?
- What did we learn from this experience?
- What kind of contribution would we like to make next year?
Taking a moment to answer these questions together will help make the giving process more mindful and sustainable, as well as make your next contribution as gratifying as possible.
Bringing Your Family Closer Together
Only through collaborative and purposeful giving practices will families teach children the impact of giving.
By making it a tradition early on in their lives, they will learn the value of a dollar while establishing their own voice in the family.
Intentional giving is an exceptional lesson in empathy and sharing. An act of generosity has the power to spread through all aspects of life, making us feel more grateful for what we have, connecting us to our community, and bringing awareness on how we spend our money.
Our Giving Story
Here at Chladek Wealth, we practice what we preach.
From the gross income we receive through Chladek Wealth, 10% goes into a tithing account, where the funds are later distributed to churches and charities throughout the year.
Additionally, to further educate and unify our children on the subject of finances, 10% of their monthly allowance goes into a separate tithing account for them to decide where it will be donated.
The financial traditions our family implements are an extension of what we advocate and teach. Our goal is for every household to reach financial literacy while strengthening familial bonds.
Check out this PDF if you’re interested in learning more about building a cohesive giving strategy this year and beyond.
The tradition of giving is as easy as making it a family priority. Talk to us to start financially planning your charitable gift together.