True generosity often inspires gratitude, admiration, and praise. But sometimes, the desire to be generous can lead us astray.
The ability to give, as well as to receive, within one’s means is a cornerstone of a healthy financial outlook. However, in less healthy cases, generosity can be reckless, or it can be used as manipulation in order to win attention or favors in return.
Some people set a goal of giving away a certain percentage of their income as charity or gifts, while others are more flexible but give on an irregular when they feel especially moved by an individual request or a social call to action.
Still others give far too often, or far too much, without considering the impact on the other elements of their budget – if they keep a budget at all! This is a common pattern of the Money Fool, and can lead to losses far greater than money.
Others keep very strict accounting of their gifts, but also keep a firm eye on the return on their giving “investment.” These quid pro quo givers will likely experience disappointment, and will often be tempted to direct the blame for this disappointment outward onto those who failed to realize that return gifts were required. These Money Martyrs can face challenges in developing strong relationships based on something other than precise accounting.
Instead of generosity that is only a shadow of the real concept, the truly generous give in a smart and thoughtful way, that asks nothing in return and incurs no obligation, while also creating no unexpected risk at home .
Regardless of your strategy for giving, the most important element of generosity is to give freely, with a clear mind and an unattached gesture. Give with expectation, and the joy of generosity will be its own reward.
What role does generosity play in your Money Story?