October 10

9 Positive Consequences of Donating Money to Charity


As an early adult, I remember wondering what was going through my mum’s head as she gave money to church and charities every week.

Because as a child there were times when mum struggled to have enough money for the shopping.

But every week without fail, the donations went out. As a teenager, I believe I actually became quite resentful of this. As we had less money than our friends but were giving more.

Meaningless was being spent on me… unlike my friends!

So when I first started earning my own money, donating it to others far less fortunate than myself was very far from my mind.

You Must Give Before You Receive

Not strictly true as we all probably know people who don’t give yet still seem to have lots of money.

But I have personally found that the more I give, the more I receive, especially in times of need.

When I look back, I can now see that we as a family never went without. My Dad managed to retire at 57 from a factory job. And in later years, they both complained of having too much money.

Not the mindset I would encourage… but you get my point. My mother gave a lot over the years, and the universe gave it back times ten!

The Benefits

I strongly recommend the process of giving. Strangely enough for me, I never started giving until I was on the floor. By that, I mean at my lowest point in life when I was earning the least.

After reading “Think and Grow Rich” and “Secrets of a Millionaire Mind”,. I finally understood what my mothers driving force was and why it was the right thing to do.

And it has more to do with helping yourself than you may at first realise. It comes with benefits:

1.  Experience More Pleasure

In research conducted by the National Institutes of Health, participants who chose to donate a portion of $100 that they were provided enjoyed activated pleasure centres in the brain.

Although this experiment was controlled and scientific, it showed that donating money simply makes you feel better, which we can all benefit from.

It feels GOOD.

2.  Help Others in Need

We don’t live in a perfect world. And there’s never an ideal time to give. But there are always people out there in need of help.

Whether interest rates are rising, the economy is in the doldrums, or even if you’re experiencing financial difficulties of your own.

The reality is that when you donate your money, you help others who need it.

Which also feels GOOD.

3.  Get a Tax Deduction

If you give to an approved charity, you can write off donations on your tax return.

Certain restrictions do apply, though. To learn more about them, along with whether or not a particular charity has approval, check your tax office’s website.

If you worry that this is greed. Donate the deduction and help more people. You will do more good this way than paying excess taxes.

4.  Bring More Meaning to Your Life

When you donate money to charity, you create opportunities to meet new people who believe in the exact causes that inspire you.

That, and making a real impact on those causes, can infuse your everyday life with more meaning.

If you’ve been stuck in a rut, whether personally or professionally, sometimes the simple act of donating cash or volunteering can do the trick and reinvigorate your life.

5.  Promote Generosity in Your Children

When your kids see you donating money, they’re much more likely to adopt a giving mindset as they grow up. Which is an excellent money mindset experience.

I write from personal experience. We’ve donated money to various charities over the years. And I have always made sure to inform my children of our efforts.

Last Christmas, when we were shopping at the local mall, we spotted a table for a charity. And rather than spending some of her money on Christmas gifts, Luna asked if we could sponsor a hungry child overseas.

We signed up then and there.

Do the same with your kids, and you might see similar results.

You won’t believe how GOOD this makes you feel!

6.  Motivate Friends and Family

When you let your friends and family know of your charitable donations, they may find themselves more motivated to undertake their own efforts to give.

This will make them feel good.

Guess what?

This then makes it feel GOOD for you too!

It takes a village to address issues such as world poverty, scientific advancement, and early childhood education.

Stoking passions in the folks around you is a very positive and tangible effect of your own giving.

7.  Realise that Every Little Bit Helps

You don’t need $10,000 to make a difference in someone’s life.

Even just a few U.S. dollars could result in a week’s worth of meals for a starving child in developing countries.

It will enable much-needed medical attention and even improve schooling.

Don’t just think of your cash donation from your own economic perspective. Often that money can go a lot further elsewhere in the world.

8.  Improve Personal Money Management

If you set a monthly donation, this can motivate you to be more attentive to your own finances.

Which helps to give you a correct Money Mindset to earn more and give more.

Anything that gets you to pay closer attention to your bank account is a good thing.

And if it makes you feel GOOD (which it will), that has to be a bonus.

9.  Volunteer if you really feel that you can’t give money at the moment.

Never think that you can’t improve someone’s life or the world itself if you can’t make donations. Even an hour a week helping a neighbour or a friend in need.

Can make a massive difference to their life. Giving them a smile and a laugh for even that short period can make such a difference to their world and their feelings about themselves.

Try it! I guarantee you will feel just as GOOD as them, if not more.

We Can Change The World

Each one of us can change the world of someone else. And I can assure you… that feels GREAT!
I currently give 5% of my income to charity as I am still paying off old debts, and I give the time when I can.

I also have clients that give 20% of their income to charity.
Just do what you can. But never let yourself say, “I’ll give when I have enough”, because with this mindset, you will never think you have enough, and you will miss out on all the positive benefits.
Give now, and you will feel GREAT about it.

If you’re looking to increase your wealth to increase your ability to donate.

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Callum McLean

I believe that everyone has the right to be financially free. I founded "Wealth 4 All", an organization that guides people from all walks of life to achieve that goal, either by teaching them how to trade or through passive investments. Connect with me to get started today.

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