Making giving to others, whether it’s your time or your money, a part of your daily life has huge benefits not just for the person you are giving to, but for you as well. Becoming more generous has profound impacts on your wellbeing, the wellbeing of those around you, and on the world at large.
You Will Feel Happier
According to entrepreneur Warren Buffet, we should give money to charity as a way to enhance our emotional wellbeing. He wrote an article for CNN where he spoke of possessions as often ending up possessing their owners, and that the possessions he values the most are the friendships that he has grown. Buffet has decided to donate 99% of his wealth to charity and claims that he has never been happier.
The University of British Columbia ran a study where they measured the happiness levels of people who were asked to spend $5 per day on themselves, versus people who were asked to spend $5 per day on other people. At the end of each day, those who had spent their money on others were happier than those who had spent it on themselves.
You Can Make A Difference to Others
Small acts of kindness or small donations to a charity can make a huge difference. Taking the time to have a cup of tea with an elderly neighbor could make them feel less alone. Volunteering at a homeless shelter could mean that someone doesn’t need to spend a night sleeping outside.
If time is in short supply for you, you could consider making a holiday donation to an existing charitable organization to enable them to continue doing the work that they are doing. Giving money to an organization that you know is doing good work is an excellent way to make a difference.
Bring Meaning to Your Life
Getting involved with charitable organizations can also help to enrich the connections in your own life. By being involved with a charity that is doing work that is meaningful to you, you allow yourself to connect with other people who share the same passion that you do. This is a wonderful way to make meaningful friendships while you are making a difference.
If you are donating to a charity that is IRS approved, then you can write off your donations in your tax return meaning that not only are you giving money to a good cause, but you are paying less tax into the bargain. You can read more about which charities are eligible for a tax write off on the IRS website.
Generosity Is Contagious
If you start giving your money and time to charitable causes, your friends and family will notice you doing this, and they are likely to start doing the same. This is particularly important if you have children, as your children will see you being generous, and they will want to be the same way.
In this way, every generous act that you carry out is likely to be multiplied in the lives of your friends and family. Then every act they carry out will be multiplied in the lives of their friends and family and so on, making for a much more generous world.