The story of how a father taught his kids to understand the value of a dollar and the importance of donating to charity is taking the Internet by storm. Brandon Stanton shared a photo of the family in a post to his heartwarming Humans Of New York Facebook page on Sunday.
In the post, a young child tells Stanton that he gets one dollar every week as allowance. He then chooses to allocate the dollar to one of four sections: spend, save, donate and invest.
"I've only used my 'spend section' twice," the boy said in the Facebook post. "I have way over $10 in my 'invest section.' I used to have more but I took some money out and put it in my 'donate section.' We used to it to buy food for people who don't have much money in their 'spend section.'"
As of Monday, the post has received over 85,000 shares.
Some parents might assume that their children are learning about money in school. However, a 2013 survey found that only one-third of educators are teaching personal finance.
In the end, parents must be empowered to teach their children about the importance of saving money and how money can help the less fortunate. And the dad in Stanton's post is clearly doing an excellent job.
"It's never too early to help kids understand about money," Warren Buffett told Forbes in 2013. "Whether it's understanding the cost of the new toy they want, or the value of saving money. Kids are exposed to money matters from a very young age, so why not help them understand it and develop healthy habits early on?"