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I simply pay my kids for the work they do, they store it in a bank, and then I let them spend it. When they get older they will need to put aside some money for saving, some for spending, and some for giving away (their choice on the breakdown but it needs to be something in each).

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I'm curious? Why force them to give their money away?

It sounds counter-intuitive to me. Teach them the value of money, but then completely negate any value by forcing them to give it away?

In my opinion, reinforcing the idea that charity is an obligation to society is probably just as important as reinforcing the value of money itself.

I take a much more spiritual tact on the whole thing. I think giving is good for the giver first and then helpful to the people receiving it (particularly if they aren't just giving it away but investing it in something useful for others). That's been my experience and reflects Biblical teaching on the subject.

I wouldn't set it a fixed amount to the giving but I would hope to encourage it. I make giving a routine part of my life and I would encourage it in my children too.

Responsibly managing your money in my world means: spending it wisely, saving and investing it wisely, and giving it wisely.

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