Do you give money to charity? You’re not alone. In fact, the National Philanthropic Trust and the Center on Philanthropy at Indiana University found that 88% of all American households give to charity. And, the average annual gift to charity is over $2,200 per family. We are a nation of givers.
Giving is an important step in our own personal finance journey. There is a reason why Dave Ramsey includes it in his last baby step of his popular book, The Total Money Makeover. Author Mary Hunt also lists giving as a money rule. It is one of seven in her book, 7 Money Rules for Life: How to Take Control of Your Financial Future.
Should You Have A Money Rule To Give To Charity?
In this episode of the Money Q&A podcast, “Your Money: Your Choices”, I interview Mary Hunt about her book, 7 Money Rules for Life: How to Take Control of Your Financial Future, and I specifically talk to her about the importance of giving.
We talk about how giving can increase your own financial position. I specifically asked Mary about giving while we’re going to church. I wanted to know if we were talking about more than simple tithing. Or, are we talking about other forms of giving?
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“I’m talking the big picture. I’m talking about generosity.. of having a generous spirit, of being generous with others but cheap with myself,” said Mary. “I think that gratitude, that whole expression of, ‘You know what, when it’s all said and done, I may not have it all, but I have enough.’ And, the way that we can live that out and help to quiet those insatiable desires. You know, the pull of the culture is so strong…”
Mary Hunt and I discussed all facets of giving and how it adds to our own financial wellbeing. How does giving increase our own financial wealth? How much should we give? How should giving be incorporated into our financial plans and goals? These are all questions that I tackle with Mary Hunt on this episode of “Your Money Your Choices”, the Money Q&A podcast. Of course there were a lot of other money rule questions about giving that I asked. Be sure to check out the episode.
Who Do You Trust To Talk To About Your Finances?
Additionally on this episode of the podcast, I talk with Eric Jones, senior managing director, advisory solutions at TIAA-CREF about the company’s Second Annual TIAA-CREF Financial Advice Survey which revealed very interesting data about who you trust to receive financial advise from. It is not always your financial advisor. You won’t want to miss this great discussion.
Some Interesting Findings From 2nd Annual TIAA-CREF Financial Advice Survey
- 48% of Americans say it is hard to know who to trust for financial advice
- 37% of Americans say they don’t like talking to anyone about their finances
- 46% say they need a trusted place for financial advice now more than ever
- Over 40% of Americans think that they can’t afford good financial advice
- Over 33% say they don’t have the time to get the proper financial advice
“Your Money: Your Choices” Podcast
Roth IRAs, CDs, stocks, insurance, your 401K . . .what are the right choices for your financial future? “Your Money: Your Choices“ will clear out the cobwebs and confusion surrounding these concepts and more with clear and concise information.
You’ll hear tips and tools that you can put into action right now to help save your hard earned income in way that will protect your future for a healthy retirement. Whether you are a single mom or a father of five, “Your Money: Your Choices” will get you on track and put your money back in your control where it belongs!
Past Episodes Of “Your Money Your Choices”
- Episode #18 (10-7-13) – Can You Be Too Frugal? Is There Such A Thing As Being Too Frugal?
- Episode #17 (9-15-13) – How Not To Buy Cat Food When You Don’t Own A Cat
- Episode #16 (9-2-13) – Put Your Money Through Boot Camp – Soldier Of Finance By Jeff Rose
- Episode #15 (8-26-13) – What Young Adults Need To Know About Money When Starting Out
- Episode #14 (8-19-13) – How To Make Money Investing Like College Endowments
- Episode #13 (8-12-13) – Money Conversations Parents Need To Have With Their College Freshmen
- Episode #12 (8-5-13) – Don’t Hide Your Head In The Sand When Planning For Retirement
- Episode #11 (7-29-13) – Investing In Gold For Your Retirement Accounts
- Episode #10 (7-15-13) – Interview With Gary Vaynerchuk & Getting Through Burning Out
- Episode #9 (6-24-13) – What Is Your Magic Retirement Number?
- Episode #8 (6-10-13) – Life Insurance Policies That You Do Not Need
- Episode #7 (5-20-13) – Why Everyone Needs To Have A Will And An Estate Plan
- Episode #6 (5-6-13) – Increase Your Investment Return With Peer-To-Peer Lending
- Episode #5 (4-22-13) – Living Your Life And Completing Your Bucket List
- Episode #4 (4-8-13) – How To Incorporate Your Values Into Financial Planning
- Episode #3 (3-18-13) – You Need A Side Hustle To Earn Extra Income
- Episode #2 (3-4-13) – Conquering Your Debt With The Debt Movement
- Episode #1 (2-18-13) – Everyone Should Be An Entrepreneur