Will Giving Money To Charities Make You Wealthier?
Perhaps you’ve heard of the saying that you get more the more you give. Put another way, the more money you give away, the more money you get. Isn’t that a strange notion? Do you really believe it? Let’s present a case to examine.
John D. Rockefeller
He was one of the first to popularize this notion. He believed from the bottom of his soul that “the power to make money was a gift from God.” That gift came with a charge though: to use your gifts to help mankind. If you didn’t, the money would be taken from you. He believed that he was given both the gift and the charge. That dictated how he used his money. He gave to people and charities as often as he could. He lived his life that way and continued to obtain more and more wealth. Can you argue with those results?
That Doesn’t Make Sense, a Case Study
From the eyes of an economist, the notion doesn’t make any sense. Had they kept that money and let time play out, wouldn’t they have more money in the end? A survey run by the Social Capital Community Benchmark completed in 2000 begs to differ with the economist. They took a survey of about 30,000 people in more than 40 communities around America.
Taking into account factors such as education, age, race, religion, and other characteristics, the study compared the incomes of people that continuously gave to charities. The results were shocking.
Not only were they making more money than the non-charitable ones, but they were making percentages above the other. The correlation was similar to the following: Imagine there are 2 identical people (in every aspect), except for how much money they gave away. One gives $100 more than the second. The first makes $375 more than the second. This trend continued across the board.
Giving Charitably Has a Great ROI
People keep running the numbers and the results are always the same: you will make more money the more money you give. Many entrepreneurs have figured it out. Do you really believe it though? Why don’t you try giving it a shot over the next year and see what happens.
Acts of charity—giving money, serving others, even donating blood—create a remarkable return, lifting us spiritually and financially. – John D. Rockefeller