Vancouver, British Columbia--(Newsfile Corp. - February 18, 2025) - Charitable Impact, Canada's most accessible donor-advised fund platform, has launched Charitable Allowance, a new tool that helps youth learn about giving back while building financial literacy. Designed to help make it easier for parents to raise socially conscious, money-smart kids, the tool empowers young people to make their own charitable decisions.
Charitable Allowance provides a hands-on experience for children to explore charitable giving with their own giving account. With as little as $5 or $10 a month, parents or mentors can add funds to a child's account, set a giving frequency, and guide them as they explore causes they care about and give to charities they choose-whether it's protecting endangered bees, helping local shelters, funding medical research, or any other cause facilitated by any registered Canadian charities.
Kids experience the joy of giving firsthand-not just as excitement like getting a new toy or visiting their favourite place, but as a unique sense of fulfillment that comes from knowing they've made a difference. Through this process, children not only develop personal financial skills by managing their own charitable dollars but also cultivate compassion, becoming more likely to develop a lifelong habit of giving back.
"Charitable giving, like financial literacy, needs to be taught," says John Bromley, CEO of Charitable Impact. "Charitable Allowance helps parents nurture empathy, financial decision-making skills, and a sense of social responsibility in their kids-and it can be fun too"
"We designed Charitable Allowance to be simple, flexible, and impactful," says Clif Bromley, Product Lead at Charitable Impact. "Giving kids a charitable allowance inspires them to support causes they care about, practice generosity, and develop financial literacy. It also offers parents, grandparents, and mentors a meaningful way to spark conversations about social responsibility, nurture empathy, and encourage action."
Fostering a Giving Mindset from an Early Age
Research shows that habits formed in childhood tend to stick, and early exposure to giving can shape kids into generous, socially responsible adults who are more likely to be involved in giving back to their community. Charitable Allowance makes this process easier and more engaging by allowing children to actively participate in charitable decisions, reinforcing the idea that generosity is a useful mindset.
Dr. Alex DiGiacomo, a psychologist who used Charitable Impact's giving group to raise money for charities working to fund mental health services and resources for young people, said, "Encouraging kids to care about giving isn't about pressuring them-it's about building on what they already love. When children see that sharing their interests can benefit others and bring them a sense of fulfillment, giving becomes something they want to do."
Charitable Allowance also enables extended family and friends to participate. Grandparents, aunts, uncles, and mentors can contribute to the child's charitable fund, track their progress, and engage in meaningful conversations about being generous through charitable giving.
A Simple Way to Get Started
Charitable Allowance is available for free on Charitable Impact. Charitable dollars in the account can be donated to any registered Canadian charity that represents causes of their choice, and funds can remain in the account until the child decides how to use them. Parents and mentors can sign up for free on Charitable Impact's website today and start using Charitable Allowance to raise the next generation of thoughtful, engaged donors.
Visit charitableimpact.com to get started.
Father and Son Charitable Allowance
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How to have a conversation with your kid
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How to have a conversation with your kid
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Mother and Daughter Charitable Allowance
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Talk to Your Kids with Everyday Moments
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ABOUT CHARITABLE IMPACT:
Charitable Impact is an online giving platform that operates as a donor-advised fund. It empowers generous Canadians with the tools and support to create the change they seek in the world by supporting causes they care about, choosing charities that resonate with them, and giving within their budget and personal goals. Since 2011, our community of 207,000+ users has donated more than 1.5 billion dollars, with over 14,600 registered charities benefiting from the generosity of people across Canada. Discover how Charitable Impact is helping Canadians create change at charitableimpact.com
For media inquiries, please contact:
Luisa Velez
Director, Corporate Communications at Charitable Impact
media@charitableimpact.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/241195
SOURCE: Charitable Impact
