Raising generous kids

6 ways to encourage philanthropy in your family

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In today’s world, where material success often takes centre stage, teaching your kids about generosity is more important than ever. Instilling the value of giving helps shape their character, builds empathy, and strengthens their relationships with others.

Philanthropy can be an integral part of family life, and it doesn’t always have to mean giving away large sums of money. Involving your kids in simple acts of kindness, like sharing time or talents, can have a profound impact and help them grow into kind and compassionate adults.

Here are some practical tips to encourage generosity and make giving a family affair.

1. Start young: teach the basics of giving

For young kids

Introduce the concept of giving early on and encourage empathy using stories, games, and discussions to illustrate the importance of helping others. Small acts of kindness, like sharing toys or helping a neighbour, can help kids see the impact of empathy and make them feel more connected to people.

Sascha Isaacs, Portfolio Manager, Richardson Wealth Private Family Office says that children understand money at a much earlier age than parents give them credit for.

“There was a study by the University of Cambridge that notes that children develop money habits by the age of 7,” she says. “As soon as a child can grasp the concept of numbers, and can do simple math, that’s a great opportunity for you to start the conversation.”

Tip: Create a “kindness jar” where kids can add a note each time they perform an act of kindness. At the end of the month, celebrate their contributions together.

For older kids and teens

As children grow older, encourage them to find causes they are passionate about. As a family, discuss different social issues and involve your kids in choosing which charitable organizations to support to help foster a sense of ownership and responsibility.

Tip: Have family discussions about current events or local issues. Encourage them to think critically and advocate for solutions that resonate with them.

2. Make giving a family affair

One of the most meaningful ways to encourage philanthropy is through volunteering as a family. Participate in community service projects together, whether it’s serving at a local soup kitchen, participating in park clean-ups, or volunteering at animal shelters. These tangible acts help children appreciate the efforts behind charitable work and enjoy making a difference as a family.

Tip: Set a family volunteering schedule, such as one weekend a month, and choose different activities each time to expose kids to various aspects of community service.

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3. Establish family goals and legacy

Hold regular family meetings to discuss your philanthropic goals. This is a great opportunity to define what values and legacies you want to instill – and how you can practically make a difference. In situations where family tension may arise, consider using a professional family meeting facilitator to yield better results. A neutral third-party can help guide the discussion, making it more productive and ensuring everyone feels heard.

“As your children get older, it’s more than just talking about it, it’s the doing,” says Sylvia Azoulay, Vice President, Tax & Estate Planning at Richardson Wealth. “It’s also thinking about what difference we want to make as a family? How do we want to use what we have to impact our community? What’s our legacy?”

Tip: Use these meetings to set specific objectives, such as raising a certain amount for a charity, participating in a fundraising event, or completing a set number of volunteer hours each year.

4. Curb entitlement with perspective

In wealthy families it’s easy for entitlement to creep in and overshadow the spirit of giving. Encourage your kids to take a moment and really think about their privileges – and how they can use those advantages to make a positive impact on others going forward.

Take a future-looking stewardship approach with your family. “When families look at it in that way,” says Sascha, “they take a more long-term view on their wealth for many generations – not just the next generation.”

Tip: Share stories of individuals or families who have overcome challenges and discuss how they contributed back to their communities. This can help children understand that wealth is not just for personal gain but also for uplifting others.

5. Encourage creative giving

Generosity doesn’t always have to be monetary. Encourage children and young adults to think creatively about how they can give. This can include organizing a fundraiser, creating awareness campaigns on social media, or even using their talents — like art or music — to raise funds for causes they care about.

Tip: Challenge older kids to come up with their own fundraising idea, like a bake sale or a talent show, and support them in executing it.

6. Celebrate generosity

Recognize and celebrate acts of generosity within the family. Whether it’s a small donation or a significant commitment of time, acknowledging these efforts reinforces the positive behavior and inspires others in the family to follow suit.

Tip: Create a family tradition around giving, like an annual “Philanthropy Day,” where everyone shares their favourite charitable experiences and commits to new giving goals.

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