You’ve probably heard how giving not only benefits the recipients but the giver. However, what do you do when you’re in debt? Learn how you can pay off debt and give more to the causes that matter most to you!
Giving While in Debt?
Next week we are going to do a community mailbag episode again but this question deserves a show of its own.
Should you still give when you’re in debt? If so, how do you fit it in?
I think this is a fantastic question and it’s really reflective of the community we’ve built up because this is more than money.
Many of you have told me about other things that you do besides of course you take your bills and paying down debt. You’re volunteering either at your kid’s school in the local community maybe donating to a national organization.
There are things that matter to you besides just taking care of the bills and paying off the credit cards and so forth.
And so when people ask this question immediately I see two things that jump out at me.
First, they have a generous spirit. They want a fitting giving as a part of their routine.
Second, the current budget isn’t working for them. But what if I told you there’s a way that you can take care of the essentials make progress on paying off your debts and still give?
Today Certified Financial Educational Instructor and The Money Speakeasy founder Wilson Muscadin is here to discuss how.
In this episode we get into:
- Why we struggle with money
- A counter-intuitive way to think about how you budget
- How giving can help be wiser with your money
Let’s get started!
Resources to Include More Giving In Your Budget
If you’re looking to create a budget that reflects your values while still taking care of the essentials, here are some resources to check out.
- Best Budget and Money Apps: Personal Capital, Tiller, Mint
- Automatic Saving: Qapital
- Free 401(k) Analysis: blooom
- Partners in Wealth
- Jumpstart Your Marriage and Your Money
- Total Money Makeover
- Giving USA 2018: Americans Gave $410.02 Billion to Charity in 2017
- Charitable Giving in America: Some Facts and Figures
Key Takeaways on Giving More
Before we close up I want to focus on some key takeaways I got chatting with Wilson.
- Make your budget reflect your values. Review it occasionally. Do you still feel the same way?
- Giving is a joyful thing. Don’t use giving as an excuse to break your budget. You are discouraging your spouse and leaving a bad taste in their mouth when it comes to giving.
- There are more ways to give than just money. Volunteering your time is a fantastic and intimate way to give.
If you want to chat with me, ask questions, or share your own tips please join us over at Thriving Families on Facebook.
It’s a free, private, and positive community where we help one another out.
Hope to see you there!
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