Share your Philanthropic Values with your Children – Kids Are Clueless About Parents’ Charitable Giving

This article identifies a great opportunity for you to share your values with your children by discussing your philanthropic activity with them.

Steve

===================================

MILWAUKEE–(BUSINESS WIRE)–Kids don’t know how their parents give to charity, according to new poll results released by the Northwestern Mutual Foundation’s financial literacy Web site, Themint.org.

“Parents have good charitable intentions, but if they don’t discuss them with their kids, a valuable learning opportunity is lost”

When asked, “Do you know what organizations or causes your family donates money or time to?” most children 17 and younger (77 percent) said either “I’m not aware of their giving at all” or “I know my parents give back, but I’m not sure how or to whom.” Only 23 percent said “My parents talk about the organizations and causes they support.”

“Kids who are taught about the importance of giving as well as budgeting responsibly for giving are better prepared to secure their own financial futures,” said financial literacy expert and Northwestern Mutual Senior Vice President Meridee Maynard. “It appears that parents aren’t proactively modeling and discussing their giving strategies, which would be a great learning opportunity for their children.”

Kids were also asked, “How do your parents support organizations or causes?” Eighteen percent said their parents “donate time and energy by volunteering,” while only 10 percent said their parents “donate money.” Six percent reported that their parents “donate food, clothing and supplies.” The overwhelming majority of children (64 percent) said they have no idea what is done.

“Parents have good charitable intentions, but if they don’t discuss them with their kids, a valuable learning opportunity is lost,” said Maynard. “Planning how to give is just as important as the planning that goes into saving, spending and investing. These are early learnings that can help young people become financially-savvy adults.”

Read the complete article at  Themint.org Poll: Kids Are Clueless About Parents’ Charitable Giving | Business Wire.