It’s Called Currency

Part 1 of this Budgeting Basics series was about your income, part 2 your expenses, and part 3 your savings. Now it’s time to look at what you’re giving.

You’re probably familiar with the saying, “You get what you give.” I prefer what Napoleon Hill, the author of Think and Grow Rich, said/wrote which is “You give before you get.” Think about that for a minute… if you want to receive something, you must first make a space for it by giving something. This principle is exactly why you need to make sure that giving has a place in your monthly budget.

Whether you believe in karma or not, you have probably observed the concept in action. Folks say, “you reap what you sow,” and that’s exactly the idea here. If you want to be on the receiving end of good things, you need to be giving good things. Want a simple example? Give someone a smile; you’ll most likely get one in return.

Giving is not just for the rich. Generosity is possible no matter your budget. Many people adhere to the idea of giving 10% of their income to their church or specific charities. Ten percent is a good target that most people can reach no matter their income level. Cut back on expenses if necessary, or go with 5% until you are able to give the full 10%.

In addition to feeling good for having helped others, you may also be able to reduce your income tax burden through donations to recognized charities. As usual, the IRS has a list of rules, so check the IRS website for your options.

Remember that currency has a current, and if you want to help it to flow faster and more abundantly in your life, you need to create a void that new currency can fill. Give of your money, give of your time, give from your heart and give to worthy causes and people. Keep your money moving so it can grow and work with you to make a better life for you and your loved ones.

Tags: budgeting, cashflow management, giving // Add Comment »