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It’s never too early to start teaching your children good stewardship. Below you will find three ideas to help you in this worthy endeavor.
Teaching your children to tithe and to give above and beyond the tithe is important, but it’s also important to teach them to put their faith in action. Get them involved in projects to help others, such as food or clothing drives for those less fortunate.
Good money management isn’t just a life skill—it’s also a spiritual practice that will enable your children to give when they are older and have more money at their disposal. Children develop their spending habits early on, so it’s important to teach them good management skills as soon as they have their own money.
You might be concerned that addressing the issue of what would happen if you pass away will create anxiety in your children, but as long as they’re old enough to understand the concept of estate planning, children can gain added security from knowing that you’ve arranged for how to provide for them. It’s not necessary to share detailed financial information with them; simply explaining how the process works will help.
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Giving can be done either directly or through a gift model that can provide tax benefits or even income. This section provides an overview of your planned giving options.
Learn about what you can give, from simple gifts such as cash to more complex gifts such as life insurance, retirement assets, or real estate.