Aside from saving to pay ourselves first and saving to invest, there is also another key area of savings which is saving to give! Saving to give can be a difficult concept to grasp for many of us who are struggling just to keep our heads above water…and understandably so. In order to give financially, we need to get our own financial house in order first of course. I like to equate it to the metaphor of being on an airplane when the cabin pressure is lost and masks drops from overhead. We are instructed by the flight crew to place the mask on ourselves first and then help the child or person next to us. The reason is that we will ensure our ability to help that child or person next to us by taking care of ourselves first. Going back to finances, the better we’re able to get our own financial house in order, the more we’ll be able to give and the more people we may be able to help.
Is Giving a Part of Your Financial Plan?
Giving should be a part of your financial plan. Even though you may not consider it as part of your plan, giving may be something you just naturally enjoy doing. For some of you, giving is something you receive so much joy and satisfaction from almost even to a fault! For instance, giving by putting groceries on a credit card for someone isn’t a gift.
If you’re giving to a charitable cause or offering a fancy birthday present for a buddy and then turning around to put your living expenses on a credit card, that’s not really a gift. You’ll soon discover that the present or gift you gave was paid for 2 to 3 more times than necessary when the bills start coming in. Having the heart to give and be generous is awesome, but not at the detriment of your own financial well-being.
“Kindness in words creates confidence. Kindness in thinking creates profoundness. Kindness in giving creates love.” – Lao Tzu
You need to be clever about how much you give in relationship to your household finances. If you feel the uncontrollable urge to give before you can get your own finances in check, with a little brainstorming, you can figure out how to be generous without money. There are so many ways you can give of your time that can be helpful until you’re able to give monetarily.
The main focus here is to get yourself to a place where you’ve set yourself up to consistently pay yourself first, get your debt under control or even eliminated, consistently saving to invest and to consistently be saving to give, with an uninhibited giving heart, without struggle or worry. It feels great to give and it feels even better when you’re able do it on a regular, care free basis!
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