One important aspect of money management is giving money to others. Many different experts all agree that giving money is important. They have a wide variety of reasons why it is important. These range from religious to karma to having a sense of empowerment when it comes to your money. No matter the reason you choose to give, here are three things to consider when giving money.
1) One of the first things that you need to decide is how much you can give. If you plan this in your budget then giving will become one of your priorities. You should be able to make ends meet with the amount that you give, although you may be surprised how much farther your money will stretch because you are more conscious of how you are spending it.
2) As you do this you should consider the reasons you are giving. You may want to be able to help others or you may have a cause (such as preserving the environment) that you want to help promote. You may be giving for recognition (to get your name in a program) or you may be giving anonymously. As you consider your reasons you may be more drawn to certain causes or charities, because they are in line with what you want to do with your money.
3) Next you need to decide where you are going to give your money. You could give to your church, your children’s school or you favorite charity or cause. When you give money, you should make sure that the money is being used in the ways that you feel are important. You can check to see how much actually goes to the cause and how much is absorbed in operational costs. It is important to take the time to research where you put your money, because there are people that take advantage of other’s generosity.
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