Charity is to give to others that which belongs to you. Welcome to my series, How To Use Money To Make You Happier.

In the introduction section, I gave some stats and mentioned a few reasons for starting this series.

I am going to break this series into a couple of steps:

1. Introduction
2. Make SMART financial goals
3. Create a budget
   1. Income
   2. Expenses
   3. Needs and wants
4. Debts
   1. Difference between good and bad debt
   2. Pay off debt
   3. Use credit to your advantage
5. Give to charity

What is Charity?

Charity is an organization that is set up to make a difference in society in many ways. The charity could be linked with the prevention of animal abuse, promotion of education, health, technology, or arts and culture.

No one has ever become poor by giving -Anne Frank

It’s not how much we give but how much love we put into giving – Mother Theresa

When we give cheerfully and accept gratefully, everyone is blessed – Maya Angelou

Why Should I Give to Charity?

When I taught financial planning as a volunteer, one of the issues that most participants struggled with was giving to charity. A lot of students felt that it was only for the rich.

I strongly believe that giving to a charity of your choice is good for you.

Giving to charity is good for you emotionally, mentally and psychologically

When you help someone, it empowers you, you feel joyful, happier, and satisfied. If you are passionate about a cause, donate to it and make a difference. The biggest challenges facing us are being solved by charities, NGO’s, and not-for-profit organizations. Dunn and Norton explore in their book Happy Money: The Science of Happier Spending, that the way you spend your money impacts your happiness much more than how much money you have or make.

Their research shows that the more you pursue money, the more you have no time for your health, eating properly, exercise, social interaction, and relationships.

Giving to charity helps you make an impact, difference and increases your self worth

An example of a selfless act is donating. You get a great feeling when you give. You feel satisfied. Research has shown that the reason people remain in a cycle of low self-esteem is that they focus too much on themselves. You give your self-esteem a boost, by not focusing on yourself and by making a difference in the lives of others.

Do some research on how you can make a difference in your community:

See if there is a need for the relief effort in your city

Contact a local shelter to see how you can make a difference with your skillset

During the holidays buy a gift for a child or single mom

Go and help in the local food bank

Help in the local animal shelter

Donate your old clothes

Start a committee in your neighborhood and see how you can improve it.

Giving to charity helps the planet

Giving to charity makes the world a better place. The charity will use your funds or time to make a difference in society either through education, using better materials, or saving the environment. To reduce poverty, your charity might buy food, clothes, provide clean water or build a school or empower women to start a business and improve their standard of living.

Giving to charity makes a difference in the lives of the poor

We need to stop thinking that the poor are only in the third world. Charities exist to make a difference and empower people. The poor exist in our neighborhoods. These people cannot afford to educate their children, are unemployed, struggling with issues or just cannot hold on to a job. Your purpose is to help those in need and those that are close to you. You will be surprised even with a $1-dollar donation, how much of an impact you can have on the lives of people.

Giving to charity gives you peace of mind

When you help someone, you are empowered and have a piece of mind that you made a difference. Someone somewhere is having a meal because you donated. Someone is getting food because you volunteered at the food bank. Someone is successful because you were a big brother or big sister when they were teenagers. You made a difference. You were a gamechanger in the life of someone. No amount of money can buy that sense of satisfaction.

Giving to charity helps you spread justice

If you feel that you got a better education, excellent health benefits, a great job, and an amazing standard of living then it is natural to spread that. There are people born in certain countries who do not have access to the same standards of living. Their talent is wasted and their ambitions do not go fulfilled. Your donation can help spread justice and make it even.

Giving to charity helps you set an example of unconditional love

By giving to charity you are setting an example for your family and those around you. They get inspired by your donation, volunteer work and get motivated to get involved. You are spreading the love in a society which is mired in materialism.  Society right now is craving for unconditional love, an emotion that is lacking in a self-focused world. You can show that unconditional love exists. Charity proves that humanity is present today.

Giving to charity makes you more grateful

It is easy to take everything for granted. Until you travel and see people live in dire conditions. Once you start giving your time and money you become grateful for what you have and stop comparing your life with other people.

On a personal level, I give to those charities that align with my goals, values, vision, and mission statement of my life. I would strongly recommend that you define and formulate your values. Look at the mission in your life and focus on the mission of the charity that you are giving.  Analyze the facts of the charity. Look at the annual reports. See the breakdown of the expenses and salaries. Do your research on corporate governance, board structure, benefits, communication, transparency, non-arms length transactions, and pork barreling.

This is the last in the series of how to use the money to make you happier. Use the money to spread love and make a difference. Start small and see how it makes a huge difference in your life. Get in touch with me as to how this series has impacted you.

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