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Pre-School and Daycare
Donating to school - help please
My son's school is doing a change for change event to benefit children in other countries and DS came home saying he wanted us to donate and how important it was (they've obviously discussed it in class) and as I was about to reach for my change purse, H said let's let him get it out of his piggy bank so he feels like he is doing it.
His money in his piggy bank comes from us - he doesn't get paid for chores and he doesn't get to spend his money - we take it when there's a decent amount to the bank and put it in his savings account - he doesn't know he has it and we haven't really discussed money with him. He doesn't ask for much at the store, and when he was having listening issues, we did a sticker chart which he loved and had great results.
My question is two-fold - first, if DS wants to give all of his money to this program, should we let him? There isn't much in there and I am NOT trying to be cheap - but obviously he cannot go around giving all of his money to charity. I'd like to teach him to give, save, and have some for fun after paying his necessary bills, etc. That leads me to my second question - how and when - or have you - discussed this type of situation with your child?
My son is a very mature 3 1/2+ year old and would understand well I think I just don't know how to explain it to him or how I want to go about this right now. He is used to donating - we go through his toys and clothes often and I've explained we donate to families and children that do not have as much as he does and he has always enjoyed that and given without any issues at all which I love.
Thanks for any input you can offer or suggestions.
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Re: Donating to school - help please
I wouldn't overthink it beyond what he is already learning - that others are in need and giving is important. It isn't much different than his toys, you've taught him to give some away, it doesn't mean he's going to give all of his toys away.
You know he's a little young to teach the major points of personal finance with saving, spending and donating - so don't overwhelm yourselves. I think its fine to donate "family money" without going into all the elements of using his piggy bank. You have time for that. Just make it a point to talk about donating a percent of money when he is old enough.