Giving Away My Money Is Making Me RICH

So I was 19 years old, and I just found out the hard way, why spending all your money on trash was not a good idea. I lost my main job and I didn’t get called back after the season was over at my other job ( I use to work at the gap and did work study). And that’s not all I also had some credit card debt, around $2,000. Things got so bad I had to lie to my girlfriend about why didn’t want to go out to eat after college everyday. ( she noticed and started taking me out instead)

But why I’m I telling you this story if this video has to do with giving and it making you wealthier. Well because at my lowest, I received the biggest gift ever. Atleast to me it was, it was a book that cost around $20 and I borrowed it from my professor and then he eventually ended gifting it to me. Which led toa lot of other books.

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Chapter:
0:00 Intro
3:53 Benefits Of Giving Money Away
6:44 Money Giving Away System
14:48 Outro

1. Giving Back to Other Affects you in 3 main Ways ( benefits )
– Happiness : giving can make you happy. A study was done in Harvard and it confirmed that it increases your happiness. And it has nothing to do with how much you give but just giving can make you happy.
– Health: increases longevity of life and health of overall. There are 23 studies that break it down.
– Wealth: The more generous people tend to be the wealthier they tend to become. Giving increases income. Per $100 you can earn $375 more than someone with your exact circumstance. Idk how this works.

2. My Money Giving System
– Since I’m Christian now, I give 10% of my income from the top the my local Church ( and this week is about to be the first time I do it ) – yes I asked a lot of question, the church is super transparent with their finances, and that’s why I decided to stay their
– But I understand for some people 10% might seem like a crazy amount of money to give away
– So here are some requirement: Be aware of the money the comes in and the money that goes out. What you need and what you don’t need.

The truth is:
– My favorite charity use to Nike, Eating out, Credit card debt and a bunch of other trash
– So Create take out what you don’t need and keep what you do need.

Here are the Basics to my Budget and my Financial Freedom steps Plan
– 6 places to put your money: Emergencies, Investing, debt, expenses, Fun, Charity
– Steps are: Debt Free, Emergency Fund, Invest while you pay off the house, and enjoy

Full video: https://www.youtube.com/watch?v=aAiA0wAo5v4

3. When is a good time to start Giving
– The answer is Now
– I recommend you start with 1% and you work your way up to 10%
– The key is Give some of cash, and If you want to give additional with time or more money then sure

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*Some of the links and other products that appear on this video are from companies in which Tommy Bryson will earn an affiliate commission or referral bonus. Tommy Bryson is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. I’m an Accountant but I’m not your Accountant, always review information with your Accountant/CPA and your Financial Advisor.

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