Topic: What about the role of giving in personal finance? - page 2. (Read 238 times)

To receive more, you must give...not necessarily a thing of religion, just a law of life. I spent some time with a very wealthy and generous woman who is now late, while she was alive, in one of our discussions, she told me that - If you close your palms with money (you can't receive really, because your palms are closed) but when you are liberal and generous, with an open palm, you can receive also when giving.

It is also a mental thing, if i contribute a million dollars without thinking (it is because i can afford to), mentally, my mindset becomes bigger than that amount and i have adjusted my vibrations to get more than that, that's why i will get more. If i can't give an amount, it means my mindset hasn't grown bigger than that amount, regardless of me having it, because i see this sum as bigger than me, i have indirectly limited my mind on ways to keep getting more, so i may not get an amount more than that sum i have idolised.

I've seen a few vids of Dave Ramsey and though I agree with most of them I do believe sometimes it really is necessary to take some debts, especially at the start when you have nothing.

Back to the topic, I don't think there's anything supernatural about it. Generous people just tend to attract other people, in short they can end up having really large networks. You "give" and coz reciprocity and stuff you get back and then some and then you use that to give away more, rinse, repeat. And giving don't even need to be monetary, sharing leads, doing favors basically counts.

Actually some societies kinda revolve around giving. Go look up "Moka" on Youtube. (search "big moka" or you could end up suggested moka pot videos)

Of course you need to be pragmatic about it though, no point throwing resources at people who are obviously leeches.

Yes, that's what I said:


But it wasn't the main thing I was asking in this thread. I'm asking more about the role of giving or donating, especially on a regular basis, and the effect it may have on one's personal finances and life in general.

Both people can be right. Using debt the "right" way — to fund a business can be a great move assuming you really know what you're doing; but at the same time it's should be essential to pay your sort of "bad debts" as soon as possible — you know, student loans and stuff because of the interest.

I write this post after having seen the following video of Dave Ramsey:

What You Think About Prosperity Is Wrong! - Dave Ramsey Rant

Ramsey has many haters as well as many supporters as he has helped many people get rid of debt and build wealth.

His approach to personal finance is the complete opposite of Kiyosaki. While Kiyosaki advocates using debt as a way to build wealth, using it to buy assets (mainly RE) and obtain a positive cash flow, Ramsey advocates getting rid of all debt and building wealth with your own resources. Mainly what he calls your most powerful wealth building tool: your income. With both systems you can build wealth, but in my opinion, for Average Joe, who tends to be impulsive, Ramsey's system is better.

In this video he argues that, despite what it might seem at first glance: that if you don't give money to anyone and keep it for yourself, you will get richer, it's actually the other way around. People who donate regularly end up building more wealth, as well as having better social relationships and a better life.

He defends it partly from a religious point of view, but I decided to create this thread because what he says fits my experience, even though I am an atheist.

The moment I started donating regularly and making extraordinary donations, also giving unexpected tips, etc., my personal finances, which were already going well, got a boost.

It could be a coincidence, but Ramsey has worked with thousands of people and seems to be speaking from experience.

That's why I'd like to hear opinions on how you think giving has affected you, your personal finances and your life in general.