"Whoever loves money never has enough. Whoever loves wealth is not satisfied with their income." -Ecclesiastes 5:10
I think it's time for a mystery of the universe: Making tons of money might still leave you wanting more. Sometimes, as we start earning more money, it becomes easier to fall into this pit.
So I propose a small salve to combat this temptation: be generous. When we give away our money, our time, and our resources, magic things start to happen. Generosity keeps us grounded. The more you give of your money, your resources, and your time, the more grateful you become for what you have. It's a recipe for contentment, which is really very hard to create or manufacture. I'll be sure to invest when they figure that recipe out.
Here's a great story of this phenomenon playing out in real life for one of my college friends:
Over Christmas our family finalized the sale of a large tract of land and wanted to generously share some of the proceeds of the sale with their children. What a gift! They explained that there were no strings attached to the money—they only hoped it would help us be more generous in our friendships and communities. In essence, it was a gift to gift others!
The money sat in my bank account for a while as I contemplated what to do with it. It would make a huge dent in my student loans—but how was that being generous? My dad talked to me later about how he defined generosity: it isn't about the money he and my mom give; it’s about how they give of their time, their abilities, and their respective gifts. So I paid off my loans (woah, YAY!) and used the money, time, and stress that my loans occupied and now I give, in any way I can—both large and small. A card and candy for a hurting co-worker, going out to lunch with a new acquaintance, and a plane ticket to visit some faraway friends in Seattle-- each of these has blessed me far more.
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What a cool story!
There was a great study about how happiness and money essentially hits a plateau: that up to a certain level, more money made people happier. The magic income? $75,000. However, past $75,000, there was no correlation between making more money and more happiness.
I find this study oh-so-intriguing, because it's essentially saying in giant letters: BEING RICH DOESN'T MEAN YOU'LL BE HAPPY. That's a culture shock in America. It goes against our entire free market system.
If you're a religious sort, this post is nothing new. For some, there's actually a spelled out percentage of how much to give away (10% for Christians' tithing and a minimum of 2.5% for Muslims' zakat if you were wondering). This mandated "open-handedness" keeps your perspective in check.
Here's what I'm saying: Make money. That's great. Hoarding that money though? Unwise. Unhappy. That's the recipe of a grouchy old curmudgeon.
Ten Ways to Give Your Money Away
1. Buy dinner for friends, buy drinks for coworkers, buy lemonade from the neighborhood kids.
2. Remember birthdays and anniversaries. Give gifts, turn into Santa Claus for a day.
3. Sponsor a child through World Vision or a similar company. $35 a month gives kids food, education, clean water, and healthcare.
4. Getting coffee? Pay for the person behind you. $5 to make someone's day: Talk about return on investment.
5. Part of a church, mosque, or other religious organization? Give your money with open hands.
6. Give a Kiva loan. For as little as $25, you can can empower people to make a better life.
7. High schooler going on a missions trip? A neighbor kid comes to sell you something? Open hands.
8. Help end hunger with Heifer International. Give a flock of chicks to a family in need for $20.
9. Donate to a local homeless shelter.
10. Throw it out the window. But seriously, you know where the money is needed most in your city or town. Get it there.