In romantic, idealistic, and even poetic circles giving to others is a great way to enrich your own life even though there is no apparent persona gain from doing so. However, this refers to the principle of giving your time, services, and even your belongings.
It will help others and make you feel good, but it won’t make you rich as you’ll have less money and objects of value than you currently do.
What may surprise you is that giving to charities really can make you rich! It seems like many Australians already have heard this message as in 2018-2019 $3.9 billion were registered as being given to charity.
Of course, there is a connection to existing wealth, those that give the most tend to be the wealthiest. Much of this is driven by the fact that the wealthy can get wealthier when they give to charity.
Lotteries & Competitions
It should be noted that there is an abundance of competitions and lotteries that specialize in community fundraising, allowing the community to get richer why you win significant prizes, such as a house or a car. That really does make you richer, but only if you are lucky enough to win.
However, it’s still worth trying.
Promotions
It is interesting that people who give to charity are generally seen as good people and those that put the needs of others before their own. When other people see this it is common for them to have an elevated opinion of the person. Consequentially, they are likely to be promoted above others.
That gives them a pay rise and more earnings, after having given to charity.
While this doesn’t happen to everyone, a significant proportion of charitable givers find that their giving is noted and reflects well on their earning potential.
Tax Rebates
A more cynical reason to give is that you’ll be able to claim it back on your annual tax return. By off-setting your charitable donations you can reduce your tax bill and even get money already paid, given back to you.
While this amount may not equal the amount you gave to charity, the net result, thanks to tax savings, puts you in a better financial position, making giving to charity financially profitable for you.
Karma
While not everyone subscribes to the idea of karma there seems to be some truth to the principle. In other words, your charitable donation will be returned to you several times over.
In other words, you give money away but you’ll be given wealth back in a variety of forms, potentially making you richer.
Better Business Sense
Giving to help others makes you feel good. Your body will crave this feeling and want to do it again. In order to help this happen, you will automatically work harder, improving your financial position and ultimately giving more to charity to enjoy the feel-good feeling.
Giving to charity isn’t just a way to make yourself richer, the people you give to need your help, and you never know if you may need it too one day.
