How rich are you?

Posted by FrugalPinoy on Nov 8, 2008 in Giving | 0 comments

I recently landed on The Global Rich List website.  It’s a fascinating site, because you input your annual income and the site tells you how rich you are compared to the rest of the world.

Apparently, I’m in the top13.17% richest in the world:

If the idea of wealth comparison and materialism makes you sick, don’t worry.  The Global Rich List is not about boasting about your wealth.  In fact, the point of the site is to show you how lucky you are compared to the rest of the world.  It makes you feel rich enough to realize that you can give to others.  If you want to try it, just click here to visit the Global Rich List site.

Now, you don’t have to give to the  charity that the Global Rich List supports (Care International UK).  You don’t even have to give your money, you can volunteer your time to a cause or organization your believe in.  A few months ago, I wrote a blog post on giving to charities and causes.  Go ahead and read that post in case you haven’t done so yet.  Frugal Pinoy also has a lengthy page that lists several local charities and NGOs.  You can refer to that list if you’re looking for local organizations to support.

Why am I talking about giving again?  Well, first of all, just because we’re experiencing an economic downturn, it doesn’t mean we should stop supporting the causes we believe in.  In fact, these causes need your support now more than ever.

Also, ‘di ba mag-pa-Pasko na? Don’t forget to add these kinds of donations to your Christmas budget.

What charities and causes do you support?  How has the financial crisis affected your ability to donate?

Giving money to charities and causes

Posted by FrugalPinoy on Aug 17, 2008 in Giving | 4 comments

Recently, a friend and I had a conversation about “giving back” and donations.  We both felt like we weren’t giving enough.  Personally, I donate to an animal shelter as payment of utang na loob for the people who built it – they were good to me in hard times.  But apart from that, I do nothing, even if I really wanted to.  I don’t know if it was the busy-ness of work, but I haven’t thought about volunteering or making additional donations in months.

I also realized that in Frugal Pinoy I often talk about saving and earning money, and never about giving it away.

It’s about time that I did.  Starting next month, I’ll be donating to some causes I believe in (I’ve already included it in the budget), and actively search for volunteering opportunities as well.  However, I won’t be disclosing how much or to what causes I donate to, but I imagine I’ll be able to talk about the volunteering.

Also, if you have your own stories about volunteering or donating, please share them with us.

Why giving back is important to you

People often talk about how giving away donations is good for others, but that’s self-explanatory.  What’s often left out of the discussion is what good  you will get out of giving.

It gives you a feeling of abundance.  I first mentioned this in the post “Do you have what it takes to be a millionaire?”.  From that post:

Some people may have multi-millions, but if they don’t give away a single peso to anyone, for a cause larger than themselves, they probably feel cheap inside. From David Bach’s research, most multi-millionaires have one thing in common: they were giving part of their income for charitable causes, even when they weren’t wealthy yet. It’s all about the mindset rather than just the measurement of how much money you have stashed away in the bank.

It makes you happy.  Scientists found evidence that giving away money gives you more happiness compared to spending it on yourself – even if you believe otherwise.  For me, this is reason enough.  Here’s a quote from that study:

Statistical analyses revealed personal spending had no link with a person’s happiness, while spending on others and charity was significantly related to a boost in happiness.

“Regardless of how much income each person made,” Dunn said, “those who spent money on others reported greater happiness, while those who spent more on themselves did not.”

Now that we’ve looked at the benefits of giving away, it’s time to look at how to go about it…