People who give to charity when they are children may become happy as adults, according to Fidelity Charitable, a public charity and donor-advised fund.
According to a report released by the organization Thursday, “Family Giving Traditions,” 48 percent of people who experienced strong giving traditions during their childhood consider themselves to be very happy adults, compared to 33 percent of those who did not grow up with strong traditions.
They are also more likely to have close family ties (81 percent) compared to those who do not have a history of charity (71 percent), according to the study of 3,000 individuals who give to charity and itemized their taxes for 2017.
Forty-five percent of respondents who grew up with strong giving traditions donate $5,000 or more to charity annually, and 89 percent volunteer an average of eight hours a month. Thirty-eight percent said their current giving habits were inspired by their parents.
Fidelity Charitable offered some tips for encouraging charity in children. Parents should engage in giving with their children through joint activities and should give the kids an allowance for charity that the children can control.
Parents should also explain why they like to give to charity and how their gifts can make a difference. Discussions about charity are increasing, according to the study. Thirty-nine percent of those surveyed said their families consulted on giving choices or made decisions together when they were children, but 72 percent said they consult or vote on decisions with their own families now.
“We’ve always known that strategic philanthropy benefits the charities donors support, but this study proves that the impact goes beyond that,” said Pamela Norley, president of Fidelity Charitable. “Giving makes people happier and is a significant contributor to a happier and healthy family, too.”