Giving makes you richer is the surprising (or is it?) conclusion of a study outlined in this article called, “Charity Makes Wealth“.
The article is…strangely written, but the thrust of the article is to claim that as incomes increase, so does charity giving. That’s two variables there, income and charitable giving. There is a clear link of correlation there:
People do give more when they become richerâ€”research has shown that a 10 percent increase in income stimulates giving by about 7 percentâ€”but people also grow wealthier when they give more.
Corrected for inflation and population changes, U.S. government data show that G.D.P. per person in America has risen over the past 50 years by about 150 percent. At the same time, donated dollars per person have risen by about 190 percent.
But is there a causation there? The article suggests that it does in a few paragraphs too long to copy here.
Another supportive piece for giving. Not only does it make you feel good, and does good for other people, but it helps stimulate the economy. IM practitioners have also long supported giving, because it helps to promote an abundance mentality. Clearly, you give a lot cause you have a lot, right?
I’ve been seeking a good charity lately, and the best one I’ve found seems to be the Acumen Fund. I started a thread on this topic, Looking for a Charity, Know One?
If you have a favourite charity, please do weigh in with why it is in the comment section. Thank you. 🙂