“Money is like manure; it’s not worth a thing unless it is spread around.”
– Brooke Astor, philanthropist
One of my clients, whom I’ll call Beth, told me that she had given away $40,000 the year before, and that it gave her great joy to do so. She is not wealthy by most standards, but she clearly understands the benefits of being charitable.
Scientists in the field of neuroscience have conducted fascinating research in recent years. They have studied human empathy and have shown that reward centers in the brain light up when we give to charity.
No doubt my client is altruistic and generous, but she may also feel a physical reaction to giving away money. In essence, doing good feels good.
When appropriate, I discuss charitable giving with my clients. Sometimes they ask me to help them research charities before they make a monetary gift. It is often personally rewarding to get involved in local charities, where they can actually see the benefits of their financial gift.
There are local, national and international charities that do excellent work. Many people want to know that a large part of their donation goes directly to the cause, rather than to administration or marketing expenses. Most charities provide their financial statements and required IRS forms on their websites.
There are often tax benefits to giving to charity, but that is rarely the primary reason someone makes a gift. Most of us can’t afford to give large amounts to charity, but even small gifts of our money or our time are generous – and help us maintain a healthy attitude toward money.
Try it
Decide to give away money to someone who is less fortunate. The amount is irrelevant; the gesture is what is important. For the week after you make the gift, focus on your feelings. Did the act of being generous make you happier? If it did, decide to start giving money away more often. Researching charities that you may support can be enjoyable, or you may decide to give money spontaneously to folks you know who need the money. Spontaneous gifts may not include a tax receipt, and that’s fine too.
Photo by: Jenna Kusmierek
