Is Giving Part of Your Life Strategy?

Here's an interesting question from US News:

Is giving part of your life strategy?

They go on to state the following:

If it’s not, it should be. I don’t say that from a finger-wagging, “Thou Shalt Give” perspective. I say it from a personal benefit point of view. Study after study on altruism has shown that giving in its many forms can strengthen both physical and psychological health, contributing to your happiness, health, positive relationships, and more.

What studies, you might ask, show a link between giving and happiness? This one, for example (with a link to another one in the post.)

But back to the original question -- is giving part of your financial life? Do you budget for giving? Do you give both money and time or just one of them?

Here's what we do:

• We budget for our annual giving -- both tithes and offerings.

• We also volunteer with a few charities -- my wife and I serve on the board for a non-profit and we both have additional commitments at our church.

How about you? How do you plan for your giving? During these tough times, many people need extra help. If you're in a position to lend assistance, please consider giving both your time and money in 2009 to whatever charity you feel is appropriate. You'll not only feel better (happier?) for doing so, but you might actually be helping yourself get rich in the process. :-)

Comments

[The Passive Dad]

A couple years ago I set up our tithes on auto bill pay and love that it's something we don't have to think about. Our church needs operating funds in good times and bad, so auto bill pay can help them budget accordingly. We also support World Vision using the same auto pay feature.

[The Passive Dad]

A couple years ago I set up our tithes on auto bill pay and love that it's something we don't have to think about. Our church needs operating funds in good times and bad, so auto bill pay can help them budget accordingly. We also support World Vision using the same auto pay feature.

[Sarah]

I give both. I need to work out what I'm doing this year, though--my salary has changed and my major volunteer project has ended, so I really should get going on figuring out what I should do now.

[finco86]

We too give both time and money. Don't know what I would do without this commitment.

[Sam]

I always tithe no matter what. My parents instilled tithing into my siblings and I at a very young age. They began their marriage in tough financial situations and always tithed, even when both my parents were out of work and going to school. Now, even in these tough times, they both have well-paying secure jobs, have stable pensions and retirement accounts, and my mother just inherited a large sum of money unexpectedly. They are doing better than they ever have and continue to tithe, give offering, and donate time.

It's sometimes crazy how far a little consistent generosity can take you!

[SimplyForties]

Giving is definitely a budgeted "expense" for me. While I continue to cut back on every other line item, I continue to increase my charitable contributions. In 2008 I doubled my expected contributions and expect to double them again in 2009. There is no rate of return as high as the one I get from giving. The best part of my improving finances is my ability to give more!

[Tstrump]

I give each month on my credit card through automatic payments to several charities.
I have no plans on decreasing this even though the economy is suffering.
I think we can all spare at least $10 to 25/month!

[Big Cheese]

I give directly to people, not so much to organized charity. Too much overhead so you are supporting the organization more than the end cause.

Many charitable organizations are nearly as bad as the gov't in directing resources and stipulating how they should be used.

-BC

[thomas]

My wife is a public school teacher, so right off the bat I think we do a lot of giving (as in giving away any chance of getting a decent salary). We don't budget for giving, but do have a charity we donate to as well as providing items to the less fortunate families in her school (which there are plenty).

[poor boomer]

Sorry, giving conflicts with my survival strategy.

[F]

I decided to make giving part of my life strategy after reading articles on this site. But not any giving. I asked myself whether automated giving (as some of the other commenters do) or giving to big organizations would do, and I decided not. What I want to do is give directly to someone in need (money and any other help they might need). I haven't actually done anything yet (not good!) but I did add it to my budget.

[Lee]

Definitely. I've just posted about this on my blog actually. Right now because of my financial position, I don't give money. But I do give my time to one of my 'headline' organisations, and I also donate blood 4 times a year.

When I'm out of my financial meltdown, I will certainly be budgeting to support my chosen charities with money, too.