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Today, November 17th, is Giving Tuesday and I thought I would reflect on gratitude, giving back, and the ways kids can give back despite their limited incomes (if any). It turns out that gratitude and giving back are sure-fire ways to happiness.
In positive psychology research, gratitude is strongly and consistently associated with greater happiness. Gratitude helps people feel more positive emotions, relish good experiences, improve their health, deal with adversity, and build strong relationships. From Harvard Health Publications
I’ve been trying to teach my kids about personal finance. They get a small allowance and they are supposed to allocate into three piles: spend, save and donate. In this way, I want to teach them about budgeting and “everyday money” which is the money leftover after you pay your overhead like bills, rent and food. This leftover money can be allocated into spend, save and donate. And while it might seem like SPEND would bring immediate gratification, SAVE is also satisfying and DONATE brings happiness. But there are other ways to donate if you are short on money. Read more…