+1 for almost word for word what I was thinking when I read the question

I would add: Do not get a bank account with a debit card if the purpose is to avoid spending the money in it. A debit card would make it even easier to raid. This may be obvious to us, but possibly not to a middle schooler new to saving money at all.

" Giving is an important habit to learn early in life." important for what?

@corsiKa Read the very next sentence for a partial answer to your question.

Great suggestions, more info on this can be utilized from "The Opposite of Spoiled" by Ron Lieber, while aimed at parental audiences, the methodology is great for anyone.

I would say use the "giving" portion for things like birthday/christmas presents instead of giving it to institutions. Way less nebulous and still just as important.

GREAT ANSWER. I think I might accept if there are no more answers in a few days!

@corsiKa Important for teaching yourself to be concerned for the well being of other people rather than a self centered jerk. =)

@jpmc26 It is foolish to think that giving money is the only way to not be a self centered jerk, and equally as foolish to equate giving away money to not being one. How much did Weinstein donate to charity, before and after he was called out as a truly terrible person? How many televanglist donation offices prey on the elderly and poor to give donations they can't afford? How many college admissions offices use equally terrible tactics to extract donations from alumni knowing they can barely afford their student loans? No, no thanks. There are better ways.

@corsiKa It is foolish to think you can never give anything and that you can simultaneously learn that you can give more than just your leftovers to others. Choices develop into habits, and habits become attitudes. And no, it doesn't prevent you from doing other bad things, but it's one brick in building better character. As for "can't afford," one's ability to afford things is tied more closely to their discipline than their income.

@jpmc26 Sure, I can see that. I just disagree that it should be put on a pedestal different than any other discretionary spending. There's money you're obligated to pay and money you're not obligated to pay. Inventing a third category, money you've arbitrarily obligated yourself to pay is highly unnecessary. Why isn't there an obligation to get yourself a hobby to meet people? Why not an obligation to take yourself to the spa to relax? Simply put, budgeting for giving literally ahead of your actual obligations is an antiquated relic of religion that we can safely dispense with.

@corsiKa No, it isn't. If we gave more, we wouldn't be having a debate about the government taking money by coersion to "help the poor" using schemes that make things worse. It is immensely practical to give time and money to help others, and necessary to stabilize society.

Giving is already on a pedestal, @corsiKa. Taxes are a cornerstone of every civilization. Giving isn't an "antiquated relic of religion"; it's why all of us enjoy the lives we do. While I'm generally pleased with how my government chooses to spend tax income, I like to make some calls too. As far why this is different than choosing to spend money on a hobby, or a spa, that's really very obvious.

Mind you, as an adult I have many other categories than just "saving" "spending" and "giving": retirement and education for example. I were low on funds, I wouldn't cut "giving" first, maybe my beer money, but I wouldn't cut it last either.