Money Fix: Teaching kids to give to charity

Hear the word philanthropist and who comes to mind? Bill Gates, Warren Buffett, other rich and powerful men with buildings named for them? Laurel Parker West is looking to change that image.

"We would like to see anyone who uses the power of their purse, be it $5 or $50,000, be considered a philanthropist," says West, executive director of the Long Island Fund for Women & Girls, which makes grants to grassroots organizations. She says that giving money -- along with earning, saving and investing it -- should be a component of financial literacy education.

For girls: Research by Harris Interactive shows girls, more so than boys, are learning about causes on social media and are following charitable organizations. Indeed, other research shows that girls and women tend to do more volunteering, says Parker West. And as women's earning power increases and they write more checks, it's useful for them to learn early to use "the power of their purse" for donating and fundraising.

How: Parents can look for "teachable moments," says West, who says her daughter, at age 5, asked about billboards she saw for SmileTrain, which provides cleft surgery to children in developing countries. West asked her daughter if she would like to donate some piggy-bank money, which she did.

For instance: Amy Connor of Northport says her daughter Sarah, 11, has raised more than $10,000 for charity from a lemonade stand in front of their Northport home. See Sarah's profile on FamilyCircle.com. Sarah's site is ProjectLemonAid.org.