With kids, saving can be a great catalyst for giving

by ECCU

Mom_with_Son

August 28, 2019

Teach your kids to give as they learn to save.

By experiencing the joy of giving, they’ll learn generosity

It might seem counter intuitive, teaching kids to give away money at the same time they’re developing the discipline of saving it. When you think about it, though, it makes sense if your ultimate goal is for them to become generous adults.

Granted, there’s tension between these two disciplines, but it’s a healthy one. And biblical. What better way for kids to appreciate that God owns everything, including “their” money, than to get in the habit of holding some of it loosely. The practice of giving is also a godly way to respond to his provision. Consider the gospel. It’s the gift God gave to us, and one that he expects us to give to others.

How do you teach your kids to save and give at the same time? Get creative! Here are some ideas:

  • Make it automatic. Let your children choose an amount to give and have it automatically transferred from their regular savings account. Let them decide on the frequency. It could be a monthly donation to a charity of their choice, or a weekly transfer into a separate savings account that’s dedicated to giving.
  • Make it personal. Deciding where to give can become an exercise in seeking God’s guidance. Have the kids talk about causes they resonate with. If it’s animals, they could do something like invest in a milk-producing goat through Compassion that could become an income source for a third-world family.
  • Make it meaningful. There are so many giving options. A good way to make it meaningful for kids is for them to invest in a local, even neighborhood project. They could use the money in their “giving” savings account to buy toys for underprivileged kids, donate to a church project or purchase food for a local shelter or pantry.

One more thought. All of us, kids and adults, are inspired by stories that show us what can happen when people band together for the good of others. When your kids save and spend with ECCU Start Young accounts, they become contributors to these kinds of stories. How cool to know that when they’re not using the money they deposit, we’re using it to support ministries and missionaries around the world. To give them a glimpse of what this support looks like, check out this video.

And to learn more about Start Young spending and savings accounts for kids, or to open account, visit here.

Category: Common Cents