Why Giving Money Away is Important to the Frugal Lifestyle
- Image by DavidDMuir via Flickr
Jim Wang posted, Don’t Donate Money To Charity, on the bargaineering.com blog. While he disagrees with the sentiment, he does do a good job of playing devil’s advocate. In times of financial stress, people tend to grip tightly to every penny and Wang’s post definitely gives some justification to do so. In reality, when financial turmoil hits… that is exactly when you need to start giving money away.
I am unemployed, and work as a freelance consultant. Money is tight… really tight, yet in my family, we make it a point to donate at least 10% of every dollar that comes in. I do this because what I gain from donating is far more valuable than what I can buy. Here’s why…
- Money Isn’t Everything
In our American culture, we idolize those who have money, we dive into debt to “have stuff.” When we give money away, we are combatting our inclination to feed into consumption of things. - Get Our Priorities Straight
“Money doesn’t buy happiness.” But neither does poverty. While money is important, it shouldn’t be at the top of the list. When we willingly give money away, it takes it off its pedestal and puts it in its proper place. - Challenge your living
When you are dedicated to donation, you have to evaluate your spending and lifestyle even further. We have found that even with our donations, we are still able to survive. - Creates an Expression of Gratitude
“Giving back” demonstrates a gratitude for what you have been given. - Foster Goodwill
There will always be people in more need. Sharing and helping others not only is good for the soul, but is appreciated by those on the receiving end.
In every financial book that I’ve read, and I’ve read quite a few, they all suggest donating a percentage of your income, no matter how little that income might be. This helps to create an accurate perspective of money. It is not something to be coveted and gained at all costs. It should be respected, managed and most of all, shared.
Why do you think it is important to donate money?
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Comments
Well, the reason I donate 10% has more religious and spiritual roots more than anything. I have found that when I have donated my 10%, I always seem to make ends meet.
Came across this blog through reading Wired article. I commend you for giving 10% through this difficult time. It is a real inspiration to me. Thanks.
I agree with you completely!I have always donated 10% of any income, no matter how tight my budget, to a well recognized church-based charity. I have found that I never really miss the money. In fact, I find that opportunities seem to present themselves soon after I have made a donation. Thanks for including this article!
Things are tough for a great many of us thats for sure. I commend your focus to continue your giving even though things are tough for you also. I have also been layed off of my construction job (thank goodness, I hated it) and now am in school headed toward my true passion: computer networking.
It’s amazing how good this downturn has turned out to be for me personally. While I struggle to make rent, I do finally get to go to school.
Jefferyfish,
I feel the same way about the downturn. It has really helped me to focus on what is most important in my life and look at what I really want to accomplish in life. It is funny how life will sometimes throw you into an opportunity that we wouldn’t have taken because we were to afraid or just comfortable with where we are at.
On a side note, I’m a huge believer in “money karma.” For example, the day after I donated some money, I got an e-mail from a previous boss looking to hire a freelancer for a project his company is doing. Would he have called me even if I didn’t give that money away? Probably, but the coincidence is uncanny.
I agree about the money karma idea, something that was taught to me from a young age. If you give to those who have less than you, even when you barely have anything, your more likely to be helped out when you DO need that extra buck. I lived on the streets for 3 months, and one of the things I learned when there, is that those who have little, give the most. I make a point of giving a little any time someone on the streets asks, sometimes end up spending more on buying the homeless food then I do on shopping trips, but at the end of the day I feel better about myself as a person, and more comfortable with my situation.
I whole heartily agree…also the bible teaches us this philosophy many times over.
Here is my Testimony to the Tithe.
DebtFREEk!
I think that you should do whatever makes you happy, if it’s important for you donate to charity, then donate to charity. I would caution against donating 10% when you’re unemployed though, you want to set your feet and get steady before trying to help others, right?