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?
“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.