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Making, earning, and saving money is not a zero sum game- just because you increase your salary, start living frugally and save more money, and get your finances on track doesn’t mean someone else loses. In fact, once you start accumulating wealth and get your money straightened out is a great time to give back to those a little less fortunate than you are. Besides providing for your family, paying for your kid’s college, and living the type of retirement lifestyle you want, building your own wealth can allow you to do something else:
Help others, especially those who do not have the means to help themselves, financially.
Think about what you can do for others if you are financially free. If helping others is not part of your motivation to improve your own finances and becoming financially independent, add it to the list. If you are able to do something to improve your financial position, you are more fortunate than many people in this country and around the world.
Some of the riches people in the world are also some of the greatest philanthropists. Prodigious accumulators of wealth are able to devote tremendous resources to helping reduce poverty.
- Bill Gates retired recently from the day to day operations of Microsoft to devote more time to his foundation
- Warren Buffett will donate most of his fortune to the Bill and Melinda Gates Foundation
Now you and I may never amass the billions of dollars of a Bill Gates or Warren Buffett. But that doesn’t mean we can’t contribute. Those of us who have the opportunity and the means to help other should, to the extent we are able.
How can we help in the fight against poverty?
Think local and global- Living on the outskirts of one of the poorer cities in the country, New Orleans, I have seen the face of poverty around me in my day to day life. But there are other parts of the world where even the people we consider poor here in America look fairly well-off. Do what you can locally to improve your community, but don’t forget to help others around the world as well. Help someone out on Kiva.org or donate to a worldwide charity.
Donate money as well as time- Even if you are unable to help financially at the moment, as you improve your personal financial situation, remember to give something back. You can also donate time to various organizations and charities, and even donate unused household items or clothes to organizations such as the Salvation Army or Goodwill Industries.
Spread the word-Let others know how they can help out as well. For example, if you are bringing donations to a charity, ask your friends and neighbors if they have anything they would like to get rid of. Let people know what charities you support (you don’t have to go into details about how much you give), or let them know that you volunteer time to a local organization. You will likely be surprised how many people will offer to help or want to learn more.
This post is part of the 2008 Blog Action Day on the topic of Poverty. Check out the link below to find out more!
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“Making, earning, and saving money is not a zero sum game- just because you increase your salary, start living frugally and save more money, and get your finances on track doesn’t mean someone else loses.”
Alas, it appears you have fallen for the O’Rourke Fallacy. (I name it for PJ O’Rourke, who wrote pretty much the same thing in one of his books.)
Am I correct in assuming you do not work in real estate or own income property?