The Fourth Pillar: Give Intentionally

"He who gives while he lives, gets to know where it goes." Percy Ross.

“There are many ways to give. This is my story…” 

When you ask kids and teens what their story is you’ll be inspired. We know - we asked them. 

Four Quarter$ ran a writing contest asking young people, ages 6 - 18, to share their experiences with the power of giving. Wow, what a response!  From right across Canada, the stories came in. They reflected the common held desire young people have to help out and give. 

By showing our children how to Give Intentionally they learn they have the power to make a difference in the world, that purposeful and deliberate action leads to positive change.  It teaches them how to: 

• acknowledge and celebrate what they have.
• think about others.
• show gratitude and say thank you. 
• inspire others. 
• feel good about themselves. 
• make a difference in someone else’s life. 
• participate in building community. 

How to get them started 

Have a conversation, what they would like to give to family and friends for an upcoming celebration? Encourage them to share, in the many ways they can give - time, talents and money to name a few. 

Give them examples of young people who have given back to their community. Research together, as a family the work done by various charities around the corner and around the world. Talk about where they would like to make a difference for others and how they can make that happen. 

There are many ways to give…let’s ask the children, they will show us the way. 

Want to read the winning entries? Check out what these young people said of their ways to give…

The Third Pillar: Save Regularly

"With money, it's not what you make it's what you keep" Paul Brown

Want to teach kids how to save? Then talk about what they want to buy! OK sounds like a pretty obvious disconnect, not so, as soon as you get them describing their wants, the conversation about SAVING has begun. 

Brainstorming with them about HOW they will get that item, what it costs and how long it will take to save for it, engages them in the planning. 

Children learn by doing. Having some money to make a plan with, allows them to develop the saving regularly habit. 

They gain confidence by practicing and acquiring skills. 

Teaching them successful saving strategies helps them learn the fundamentals of sound money management. Saving regularly is one of these. It teaches them: 

• It’s OK to want things and a financially healthy way to get them 
• How to make and use a money plan, aka “budget” 
• How to prioritize short and long term goals 
• Delayed gratification 
• The "language of money" eg: interest, compounding
• To always have money set aside 

How to get them started 

Help them make a plan to save some of their money for that item they told you they really want. Remember the two savings accounts we talked about last time? It’s now time to really activate the second account. Why? It holds the money for their mid and longer term goals. 

Show them they already know how to save! Point out to them they are already saving because they have the PAY MYSELF FIRST Account (PMFA). This account holds the money for their long, long term goals. 

Chances are if they are encouraged to save some of their money on a regular basis they‘ll continue to do so.  Now they are on the road to becoming successful savers! 

“If you would be wealthy, think of saving as well as getting.” Benjamin Franklin 

Want to learn more? Visit www.fourquartersfinance.com

The First Pillar “Pay Yourself First”

"The chains of habit are too weak to be felt until they are too strong to be broken” 
Samuel Johnson

Simple words. Powerful actions. Teach your children how to invest in themselves and build a habit that will pay off for years to come. 

It will teach them how to:

• Save and build the saving habit. 
• Acquire the skill of living within their means. 
• Build wealth - getting their money working for them. 
• Become self-confident in handling money. 
• Invest in their future. 

How to get them started

Help set them up:  At the bank have them set up two savings accounts, one that holds their regular saving and a second one to hold their "Pay Myself First" money. 

Help them build the habit:  Give them an incentive to get started and keep going! For young ones, give a reward. For teens and young adults match the amount they put in their “Pay Myself First Account” for the first six months. For young adults give them a lump sum to start off a Tax Free Savings Account (TFSA).

“A year from now you may wish you had started today” Karen Lamb

Want to learn more? Visit www.fourquartersfinance.com