Four ways to start giving to charity as a family
It is never too early to start the tradition of giving. Volunteering your time as a family can provide a better perspective and understanding of the world.
Have a box for small change
Save $39 and buy a goat through the charity Oxfam for a family living in poverty.
Encourage children to set aside some of their pocket money to go to a charity.
Some families have a 5% or 10% rule so that it is automatically deducted.
Engage in school volunteering and giving programs
Some schools require their students to work with disadvantaged groups to qualify for a reference. Choose a charity as a family. Discuss the issues that concern your children.
Research the charity and stick to one with a solid track record.
Think outside the box
Is there a crowd-funding venture or social impact documentary that your family would like to support?
Consider setting up a public ancillary fund or sub-fund endorsed by the tax office
They allow you control the investment strategy. Income generated by a PAF's investments is tax-free so that the funds available each year are not depleted through tax.
Or you could leave it up to a professional charity to direct your money to good deeds.