When we talk about personal finance, it seems there is a million options available to restructure your finances, create a budget, eliminate debt, and live frugally. I personally enjoy many great blogs that have limitless ideas on how to do these foundational pillars of personal finance, and I am sure many of you do as well.
I’ve also found that there is very few blogs that talk about giving. This isn’t because they don’t believe in giving or providing for those in need, but because it usually doesn’t fit within the personal finance ‘world’ as easily as investments, stocks, debt, finances, and frugality.
I want to encourage my readers that giving should be a significant part of your personal finance strategy, and in this article I’ve included my reasons why this should be the case. I hope to convince you to either continue with your strategy of abundant giving, or begin adding this strategy to your personal finance goals.
Almost everyone I know would love to be known as a generous ‘giver’, but few have strategies around their finances to make this a reality. I encourage you to plan around giving, just like you plan your monthly expenses and your retirement saving.
So… why should giving be apart of your personal finance strategy? Well specifically, giving brings joy – and lots of it. Think about this for a moment… why do you give to your spouse or significant other? Why do you give to your children? True giving – unaltered by self interest – makes us happy and brings us great happiness. This is because joy & happiness are a by-product of showing and experiencing love, which is what we’re showing, experiencing, and doing when we give to others.
I have yet to meet anyone who doesn’t desire to be happy. There is an old saying, “Every man seeks happiness, even the man who hangs himself”. I believe this is absolutely true.
Happiness is a chief motivator of man, it is also the reason many people destroy themselves seeking riches. But, isn’t it interesting that those with great riches are usually not happy? I believe a lot of this has to do with where they are finding happiness… are they finding happiness in money, or in loving and providing for others? Another angle to take on this is, “have you ever met a miserable giver?” … I know, I sure haven’t.
Giving also provides for an opportunity to bless those you love. In many ways giving is a ‘love language’. It is a significant way we communicate our love to others. We all have people in our lives we love and care about – our family, our children, our friends. Use giving as a way to communicate this love. I guarantee you it will bring you more joy than saving that extra money you didn’t need in the first place.
How to Give?
I think we all understand what it means to give, but what I’m talking about is a strategy. In order to give regularly and bless others through giving I highly recommend a strategy around this approach, much like your other financial strategies in life.
By strategy I really mean two things… First, I recommend giving regularly to various charities of choice. Look for a non-profit organisations that you can support and truly ‘be apart of’. Obviously, I recommend an organisation you believe in, trust, and feel committed to.
Second, I recommend creating a ‘giving fund’ for random acts of blessing. If you’re going to make this a reality, having a ‘giving fund’ will make all the difference in the world. With a giving fund, that you routinely deposit money into, you will always have the money needed when an opportunity arises to provide for those in your life (or to just bless a stranger) and you don’t have to be concerned with having enough money in your bank account for it.
In my mind, giving is the reason we focus on sound finances, save for the future, and keep a budget. Being a generous giver is the highest goal that I hope we all strive for in personal finance. If you haven’t yet experienced this part of the personal finance world… go ahead – make a commitment – and start blessing others.