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How to Money

How Much Should I Give To Charity? #596

How to Money

iHeartPodcasts

Business, Investing, Education

4.63.2K Ratings

🗓️ 23 November 2022

⏱️ 60 minutes

🧾️ Download transcript

Summary

Farming has to be one of the most difficult careers if our (lack of) success at gardening is any indicator. By no means are we farmers, but from what we do know about growing food, it’s important to periodically let your fields lie fallow. This allows the soil a chance to rest and restore some nutrient balance. It’s counterintuitive, it certainly feels like taking time off from growing crops is going to hurt your bottom line but it’s incredibly necessary for the long-term health of the soil, as well as the success of the farmer. And we think the same is true when it comes to giving our money away. It sure doesn’t sound like a vital ingredient in a wealth-building formula, but we think that it actually is. And when we constantly talk about the different ways that we can work to have more money- whether that’s through spending less or earning more, we think it’s important to hit pause to encourage folks to do the opposite. We truly do believe that by giving away our money- even by starting out with small amounts, that we’re going to end up better off in the end. Listen as we discuss why we believe this to be true, who should be donating their money, how much we should be giving away, and some practical tips to help you to part with more of your money!

 

Want more How To Money in your life? Here are some additional ways to get ahead with your personal finances:

During this episode we enjoyed a Peach Cobbler American-Style Sour by Shades Brewing- thanks Andy for donating this one to the pod! And please help us to spread the word by letting friends and family know about How To Money! Hit the share button, subscribe if you’re not already a regular listener, and give us a quick review in Apple Podcasts or wherever you get your podcasts. Help us to change the conversation around personal finance and get more people doing smart things with their money!

 

Best friends out!

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Transcript

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0:00.0

My name is Joshua Topolsky and I have a new podcast called What Future.

0:04.5

But I want to tell you that I'm being forced by my producer to record a promo telling you about my show.

0:10.1

And I'm not trying to force you to listen to it.

0:12.6

And maybe you're not interested in internet culture and the future of life on planet Earth.

0:18.1

And why John Carpenter movies are so good.

0:20.6

You may just want to listen to a podcast about, I don't know, sports or whatever Joe Rogan talks about.

0:26.6

And that's fine, you know, no judgment.

0:28.4

But if you like what you're hearing and I know that you do, you can listen to all of what future on the I Heart Radio app, Apple podcasts or wherever you get your podcasts.

0:58.4

The podcast and that's what you really missed brings you back to the choir room for a gloriously gleeky rewatch of all six masterfully musical seasons of Glee.

1:19.4

Join cast members Kevin MacKale and Jenna Uschkewitz for never before heard stories from the cast, crew, celebrities and you, the fans from McKinley High to New York City, from the choir room to nationals and from the Super Bowl to a world tour.

1:32.9

Listen to and that's what you really missed on the I Heart Radio app, Apple podcasts or wherever you get your podcasts.

1:39.4

Welcome to How To Money. I'm Joel and I am Matt.

1:43.4

And today we're asking the question, how much should I be giving away to charity?

1:50.4

That's right, man, how much indeed. We're going to talk about ways to effectively give your money to charity.

2:13.4

And you know, we're talking about this topic today for a couple of reasons. One, it's just important, right? Like this is something that we believe in. It's something that we do.

2:21.4

But secondly, tomorrow is Thanksgiving and as many folks are taking the day, hopefully they are spending some time reflecting upon the different blessings and the just the gratitude that should overcome us when we think about where we are in our lives.

2:35.4

I think a natural outcome, like a natural outpouring from that would be to sort of pay it forward, right? Like basically finding ways to share your gratitude, share your blessings with those around you, whether it's actual individuals or whether it's with other nonprofits.

2:49.4

So that's why we're going to talk about this time. And yeah, we're going to discuss just the different folks who should be giving their money away, the best ways to go about it. And also maybe some of the reasons why it is important for us to do this as well.

3:01.4

Yeah, for sure. We'll hit it all on this episode, but I agree it's sometimes the timing matters of when you talk about something and giving away money one, closely into the year. So it matters more from a tax perspective, but it also matters because we're like you said, we're in that kind of spirit that zone of reflection maybe right now.

3:17.4

We're experiencing more gratitude, more thankfulness this week. And that should like you said overflow Matt into I think our ability to give money away and give possessions away.

3:25.4

But let's before we get to that topic, Matt, I just wanted to mention listener Chelsea reached out. I talked about I don't know maybe a month and a half ago or maybe it was even longer talked about having a hiring a pet sitter to watch our cats while we were gone at the beach.

3:39.4

And so I paid I think we paid like $15 a day to have someone come in and check on the cats. Pretty good. And my goal would be ideally, but we just moved into this house. So I didn't we didn't have any neighbor kids or anything who would do it for even less. That would be ideal.

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