Personal Finances and Charitable Giving

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Mon, Jan 18 - 12:29 pm EDT | 5 years ago by
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The recent, devastating earthquake in Haiti has me thinking about charitable giving and how it fits into personal finances. Ask Mr. Credit Card wrote a post, encouraging us to give to the cause. I give regularly to my church congregation’s humanitarian fund, and I can specify that some of my donation go to help efforts in Haiti. Which is what I am doing.

Peacekeeping - MINUSTAHIt may seem counter-intuitive, but many personal finance gurus cite charitable giving as one of the most important aspects of financial planning. For giving money away! But the idea is that when you live your life acknowledging that you can help others through charitable giving, you live more abundantly.

If you have spiritual convictions on the subject, you probably believe that you will be blessed when you share some of your money with others. On a non-spiritual level, someone who budgets for charity and prioritizes such items are likely doing something similar in all areas of their finances, and are likely to be doing well.

In the end, I think that it is vital to share some of my wealth with others. There is almost always someone who needs help desperately, and I think that charitable giving is an important part of sound personal financial behaviors.

What do you think? Do you give to charitable organizations?

Image source: United Nations via Flickr

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  • http://www.nokillfinance.com Justin

    I’ve actually had to tone down my charitable giving…I used to be somewhat addicted to it. That is, I’d give money via credit card when I didn’t have any in the bank to back it up. I’ve tweaked this month’s budget a bit in order to make a Haiti donation, but can’t really afford to give on even a semi-regular basis…I keep telling myself, once I get my finances in better order, I’ll actually be able to AFFORD charity. That will be nice…