On his 7th birthday, Faustas had received a bunch of gifts – toys, books, LEGO, etc. 2 weeks after the birthday I found 2 unpacked sets of LEGO in his wardrobe. Get me right – he did not forget about them. He perfectly knew that he had these sets of LEGO in his wardrobe. He was just not interested enough to open them.
To add up to this story, I reminded him of those LEGO sets once in a while and urged him to open them up. But the fact is that those 2 sets of LEGO laid there for half a year or so until he finally decided to open them up.
Again, don’t get me wrong – Faustas is fond of LEGO. He enjoys building cities, zoos or shops and then playing with it together with his sister. So what happened?
At that moment I understood that he has too much of things and entertainment. And too little of this wonderful feeling of waiting and only then getting something. I decided then to do my best to reduce the amount of stuff that my children get, and to increase the amount of stuff that my children give to others.
Why sharing is important?
I found 7 reasons why it is worth teaching kids to share. I could come up with more reasons but 7 should be enough, shouldn’t it? 🙂
The amount we give away is a great predictor of our happiness.
Firstly (and it is my favourite one), research shows that the amount we give away is a great predictor of our happiness. It is even a better predictor than the amount of income we earn! If you teach your kids to give, they will be more happy.
Secondly, some families have more than other families. Understanding this fact generates gratitude for what we have. Moreover, studies have found that grateful people have a 10 percent higher overall income.
Thirdly, communities grow stronger when we can rely on each other. We give away when somebody is in need and we know that we can expect to receive if we were in need.
Fourthly, discussions with kids about sharing is the way of showing them another world. It is a great opportunity to discuss why different people live different lives. The more your kids know about the world, the more prepared they will be to live in it.
Fifthly, if we donate part of the money that we intended to spend on gifts, we teach our children an important lesson. If children do not get everything right away, they learn to wait and they learn to be proud of themselves once they manage to buy something using their own money.
Sixthly (this is my second favourite), by giving away we are serving other people. The principle of serving other people is very important. The earlier your children understand this principle, the better. If they understand it correctly, they would be successful entrepreneurs in the future. It is important to explain that when we help people they help us back. Therefore, the more people we can serve, the richer we become. Even though science cannot explain it, people who give have more money. The reason could be that by giving you prove to yourself that money is good and that it is in good hands. These beliefs allow you earn even more money.
Finally, if your kid wants to be rich, use this argument – many rich people give money away! If your kids like computers, mention Bill Gates. If they are more into social media, let them know about Mark Zuckerberg. I hear you saying: “Yeah, but I am not that rich myself. When I am rich, I will give money away as well.” But actually many rich people started giving very early, even before they could afford it. And have you heard that acting like a success can help you be a success?
7 reasons to share
| 1 | Increasing happiness | The amount we give away is a great predictor of our happiness |
| 2 | Increasing gratitude | Understanding that some families have more than others generates gratitude for what we have |
| 3 | Growing communities stronger | Communities grow stronger when we can rely on each other |
| 4 | Broadening our view | Discussions with kids about sharing is the way of showing them another world |
| 5 | Learning to wait | If children do not get everything right away, they learn to wait and they learn to be proud of themselves once they manage to buy something using their own money |
| 6 | Serving other people | When we help people they help us back. Therefore, the more people we can serve, the richer we become |
| 7 | Role-modeling rich people | Acting like a success can help us be a success |
Top 3 things you could do with your kid right now
Are you convinced that sharing is a worthwhile activity? If yes, start acting now!
1. Have a giving away discussion with your children
- Plan an hour this week to discuss about donation with your kids.
- Discuss why giving away is important (you could use the arguments above).
- Ask them what is the most important to them: Animals? Elderly people? Sick people? Homeless people? Children from poor families? Education? Environment?
- Tell your priorities and explain them.
2. Engage your children in a donation activity
- Determine the donation budget. Do your kids have certain amount of money for sharing? If not, how much of your own money you would like to give away this time?
- Discuss the donation rules. Is everybody free to choose the area of donation or would you like to come up to consensus? Would you prefer to just transfer the money or to spend time with those in need?
- Explain the difference between fish and fishing rod. Do your children want to give a fish or a fishing rod? “If you donate food to poor people, you are donating a fish. Once they eat the food, they do not have anything left,” you could explain. “And if you “donate” a psychological help, that’s more like a fishing rod. Once the person gets better, he can do many things and help many other people.”
- Choose the areas you want to donate to and do the donation.
3. Get the “Share” piggy bank for your kid
If your kid does not have a “Share” piggy bank yet, it might be a good idea to get one for him or her. You could encourage your child to set aside part of his or her allowance for sharing purposes. Tell them that 5% to 10% is a usual amount to give away but let your kids decide the amount they want to set aside! If they manage to save money for sharing, next Christmas they might be so happy to spend it on something they really care about!
Do you want to test how good you are in teaching other areas of financial freedom? Take the Financial IQ Test for Parents now!
Our choices, if you are curious…
Elisabeth decided to donate her part of money for building a home for homeless pets.
Faustas chose to buy a Monopoly game to a poor 6 years old girl in a small village. I am so glad that he has decided to buy a fishing rod, not a fish!
I made a choice to donate to Youth Line – a non-profit organisation which provides psychological support to children and youth.
This time, all the money came from my bank account as my kids had not set aside money for sharing… That’s an area for improvement in 2019!