Sometimes, most of us feel an overwhelming urge to give back. It’s usually when we feel an intense desire to help those in need. During these moments, we rarely think about how the act of giving will benefit ourselves. We are focused instead on getting our money to those who most need it.
However, there is value in understanding and appreciating the personal benefits of giving. In this article, we outline why giving to charity is an investment in yourself, your family and your community, and how giving with intention won’t just improve those you’re hoping to help, but will also improve your overall personal wellbeing.
An investment in yourself
Across all religions and cultures, it is encouraged that giving to charity is practiced regularly. The Bible highlights that generous giving is an acknowledgement that everything we have is a gift from God. The Quran urges individuals to share their wealth and income with those who need it. The Torah urges people to give tzedakah (charity) to the needy.
The reason for this is that giving is universally understood as an antidote to greed. It provides a connection with a greater purpose. It helps to experience gratitude. By personally connecting with anyone experiencing hardship, it provides a greater sense of your own fortune.
Those that take the time to regularly give to charity are investing in their own wellbeing. They understand the sense of peace and gratitude that results from giving, as is so aptly described by various religious texts.
Not only that, they are conscious of the overwhelming mental anguish that results from not living true to their values. In order to be true to their character, they know they must give back. If not, they must live with uncomfortable cognitive dissonance.
An investment in your family
The families with the strongest legacies are not the ones who build the most wealth. Instead, the families with enduring legacies are those who possess a strong sense of identity and are unified over a shared set of values. It is easy for family wealth to be destroyed in a generation through disputes, recklessness and greed.
One simple way of building family cohesion is embedding charitable giving into the family ethos. Families who incorporate giving into their beliefs can see improvements in their family’s unity. There are a number of reasons for this:
- Values alignment: In order to come to a shared decision on where donations are to be made, a family has to consider what is important to them and what they want their legacy to be. Openly discussing what is important to each family member strengthens the understanding of the values that unite them.
- Dispute resolution: Negotiation between family members is necessary to decide where the money should go. Charitable decision making can be a low-stakes way of practicing shared decision making. This can be useful if there is disagreement or conflict between family members.
- Goodwill: There can be a greater sense of goodwill between family members knowing that others aren’t operating selfishly. Families see the best of each other when they are embodying good values.
An investment in your community
Giving to charity represents a significant investment in your community. There are the obvious direct benefits of supporting those in need locally. On top of that, there are benefits to being part of an active civic society.
Some argue that in countries and cultures like Australia, with strong social services and relatively high taxes, there is less of an impetus for charity. However, a functioning democratic society requires an active civic society to succeed. It is through charities and not-for-profits, like local community groups, sporting clubs and charities, that citizens are informed and engaged about issues, state and private sectors are monitored, alternatives are explored and services are provided. The existence of civic society requires active engagement and support by citizens, no matter the tax rate.
Figure 1 The role of charity in our society (Source: Civil Society Academy)
Conclusion
Giving to charity is so much more than simply giving money to someone in need. If done strategically, it is an investment in yourself, your family and your community. Those who regularly engage with charity know this. Giving to charity fills them with purpose and improves their overall wellbeing.
This article was written by charity analyst Jessica Bowman of Seedling Giving. Seedling is Australia’s first and only charity matching service. Seedling’s qualified advisors learn about an individual’s values, passions, life experiences and tailor a charitable giving opportunity specific to them. Each charity recommended by Seedling passes through a comprehensive due diligence process, so donors know the charity will spend the money wisely. Visit www.theseedling.com.au to learn more.