Comments on: The Savings Account, The Spending Account & The Charity Account http://www.myliferoi.com/2009/04/the-savings-account-the-spending-account-the-charity-account/ Rebalance before it's too late Thu, 11 Mar 2010 16:12:39 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: -> And On the Seventh Day, He Rested | Bible Money Matters http://www.myliferoi.com/2009/04/the-savings-account-the-spending-account-the-charity-account/#comment-833 -> And On the Seventh Day, He Rested | Bible Money Matters Tue, 09 Jun 2009 18:02:11 +0000 http://www.myliferoi.com/?p=686#comment-833 [...] This is a guest post from MLR’s girlfriend @ My Life ROI.   I thought it had an interesting perspective on how faith can inform life and finances, even if it is more directly related to Judaism.  If you like this post, check out My Life ROI’s website or subscribe to his feed. He writes a personal finance blog that focuses on what he calls “sensible” personal finance. Things that make an impact while not diminishing the quality of your life like slashing your cable bill or donating even a small amount of time or money to charity. [...]

[...] This is a guest post from MLR’s girlfriend @ My Life ROI.   I thought it had an interesting perspective on how faith can inform life and finances, even if it is more directly related to Judaism.  If you like this post, check out My Life ROI’s website or subscribe to his feed. He writes a personal finance blog that focuses on what he calls “sensible” personal finance. Things that make an impact while not diminishing the quality of your life like slashing your cable bill or donating even a small amount of time or money to charity. [...]

]]> By: Carnival of Personal Finance: Birthdays Edition | Weakonomi¢s http://www.myliferoi.com/2009/04/the-savings-account-the-spending-account-the-charity-account/#comment-553 Carnival of Personal Finance: Birthdays Edition | Weakonomi¢s Mon, 04 May 2009 11:23:07 +0000 http://www.myliferoi.com/?p=686#comment-553 [...] from My Life ROI, Getting the Best Return on Life presents The Savings Account, The Spending Account & The Charity Account, and says, “An anecdote from MLR’s girlfriend, HLR, about how her parents taught her to [...]

[...] from My Life ROI, Getting the Best Return on Life presents The Savings Account, The Spending Account & The Charity Account, and says, “An anecdote from MLR’s girlfriend, HLR, about how her parents taught her to [...]

]]> By: Hoboken Metro Mom http://www.myliferoi.com/2009/04/the-savings-account-the-spending-account-the-charity-account/#comment-546 Hoboken Metro Mom Sun, 03 May 2009 13:53:24 +0000 http://www.myliferoi.com/?p=686#comment-546 I really enjoyed reading this article. Our children are still too young for an allowance but will be at that age before we know it- so we have been thinking about the topic. I like the idea of setting up a separate account for charity. When you leave charitable giving to what is left over at the end of the year- there is often nothing left. This is a good way to make sure your intentions are funded and actionable. So many charities have really been hit hard this year by the economy and need our help more than ever. Thanks. Hoboken Metro Mom I really enjoyed reading this article. Our children are still too young for an allowance but will be at that age before we know it- so we have been thinking about the topic. I like the idea of setting up a separate account for charity. When you leave charitable giving to what is left over at the end of the year- there is often nothing left. This is a good way to make sure your intentions are funded and actionable. So many charities have really been hit hard this year by the economy and need our help more than ever. Thanks.

Hoboken Metro Mom

]]> By: HerLifeROI http://www.myliferoi.com/2009/04/the-savings-account-the-spending-account-the-charity-account/#comment-527 HerLifeROI Wed, 29 Apr 2009 11:16:01 +0000 http://www.myliferoi.com/?p=686#comment-527 Baker - I think it's great that you and your wife donate your time and energy. In a lot of ways, I think doing that is more meaningful than giving money! Stephanie - That project sounds really great! I'm very into giving for better education :) Good luck with the fundraiser! Frugal Dad- The gift cards as stocking stuffers is a great idea. It's actually a lot of fun to look through the projects and choose one to donate to, and I'm sure that could be a nice thing to do as a family too! MLR and I looked through the projects together and chose ones that we connected with somehow. He chose a project in the Dominican Republic because we were taking a vacation there, and I chose an educational project in Honduras because I had gone there during college. Have fun with it! Baker – I think it’s great that you and your wife donate your time and energy. In a lot of ways, I think doing that is more meaningful than giving money!

Stephanie – That project sounds really great! I’m very into giving for better education :) Good luck with the fundraiser!

Frugal Dad- The gift cards as stocking stuffers is a great idea. It’s actually a lot of fun to look through the projects and choose one to donate to, and I’m sure that could be a nice thing to do as a family too! MLR and I looked through the projects together and chose ones that we connected with somehow. He chose a project in the Dominican Republic because we were taking a vacation there, and I chose an educational project in Honduras because I had gone there during college. Have fun with it!

]]> By: Frugal Dad http://www.myliferoi.com/2009/04/the-savings-account-the-spending-account-the-charity-account/#comment-525 Frugal Dad Tue, 28 Apr 2009 20:46:45 +0000 http://www.myliferoi.com/?p=686#comment-525 I really enjoyed this post because it gave some actionable examples for parents to use with their kids. Many parents (yes, I'm guilty, too), preach giving to their kids, but fail to follow through by helping them get through the mechanics of giving. My family gives a "Secret Santa" gift every year to a stranger, and this past year I put my 9 year-old in charge of scouting someone we could help. I also encouraged her to pitch in from her savings. When I saw her face light up when the person received the gift I knew she "got it." She was now a giver. The giving gift cards is a brilliant idea! I'll be stuffing a few stockings with those this year. Thanks for sharing! I really enjoyed this post because it gave some actionable examples for parents to use with their kids. Many parents (yes, I’m guilty, too), preach giving to their kids, but fail to follow through by helping them get through the mechanics of giving.

My family gives a “Secret Santa” gift every year to a stranger, and this past year I put my 9 year-old in charge of scouting someone we could help. I also encouraged her to pitch in from her savings. When I saw her face light up when the person received the gift I knew she “got it.” She was now a giver.

The giving gift cards is a brilliant idea! I’ll be stuffing a few stockings with those this year. Thanks for sharing!

]]> By: MyLifeROI http://www.myliferoi.com/2009/04/the-savings-account-the-spending-account-the-charity-account/#comment-523 MyLifeROI Tue, 28 Apr 2009 18:30:19 +0000 http://www.myliferoi.com/?p=686#comment-523 @ Baker -- When I read her article I thought one of the most important things was how she mentioned giving what you can, as well. Too often people place a hard number that giving x% is good, and giving less is cold-hearted. Then it gets to the point that giving x% is actually a requirement, not a warm and thoughtful donation, right? Sigh! Giving time, I think is equally as important. Did you check out the website she linked (Volunteer Match)? Glad she inspired you :) @ Steph -- I could see that... giving is just a form of sympathy and empathy, as I see it. So you learned the lesson, nonetheless! I agree that some people need to be open to it. Too often people feel like they can't make a difference. I urge them to try a grass roots charity, then! BTW, I am emailing you in re: to the school thing... I have some information that may be of help for you! --- That's it for me... I am sure HLR will have a comment of her own! @ Baker –
When I read her article I thought one of the most important things was how she mentioned giving what you can, as well. Too often people place a hard number that giving x% is good, and giving less is cold-hearted. Then it gets to the point that giving x% is actually a requirement, not a warm and thoughtful donation, right? Sigh!

Giving time, I think is equally as important. Did you check out the website she linked (Volunteer Match)? Glad she inspired you :)

@ Steph –
I could see that… giving is just a form of sympathy and empathy, as I see it. So you learned the lesson, nonetheless! I agree that some people need to be open to it. Too often people feel like they can’t make a difference. I urge them to try a grass roots charity, then!

BTW, I am emailing you in re: to the school thing… I have some information that may be of help for you!

—
That’s it for me… I am sure HLR will have a comment of her own!

]]> By: Stephanie PTY http://www.myliferoi.com/2009/04/the-savings-account-the-spending-account-the-charity-account/#comment-522 Stephanie PTY Tue, 28 Apr 2009 17:53:50 +0000 http://www.myliferoi.com/?p=686#comment-522 That's so great! We didn't really have anything like that in my household, but I think the lessons on sympathy and empathy led me to be a strong giver, anyway - especially of my time. I'm putting my shoulder to the wheel over the next two weeks to pull together a big fundraiser to build an elementary school in rural Cambodia. It feels great to do all of this with such a worry end - I think some people just need to try giving, and find the right places to give to, to see the good it can do. That’s so great! We didn’t really have anything like that in my household, but I think the lessons on sympathy and empathy led me to be a strong giver, anyway – especially of my time. I’m putting my shoulder to the wheel over the next two weeks to pull together a big fundraiser to build an elementary school in rural Cambodia. It feels great to do all of this with such a worry end – I think some people just need to try giving, and find the right places to give to, to see the good it can do.

]]> By: Baker @ ManVsDebt http://www.myliferoi.com/2009/04/the-savings-account-the-spending-account-the-charity-account/#comment-521 Baker @ ManVsDebt Tue, 28 Apr 2009 13:26:12 +0000 http://www.myliferoi.com/?p=686#comment-521 Wow, this is a really neat story. To be honest, I didn't real grow up with this sort of charitable direction. You can tell by how you write that it had a profound effect on you! I think what you said about giving what is comfortable is important. Everyone likes to toss out 10%, but as you've said some people can give from 5%-25% commonly. It's not about fixating on a certain % as much as it is just giving in the first place. My wife and I could really do a better job. We do give money occasionally (less than 5%), but also focus on donating our time and efforts when we can. For us this allows us to balance our want to give with also aggressively paying down our debt. This article has given me a little bit of a kick in the butt, though. We could be doing a lot better! Wow, this is a really neat story. To be honest, I didn’t real grow up with this sort of charitable direction. You can tell by how you write that it had a profound effect on you!

I think what you said about giving what is comfortable is important. Everyone likes to toss out 10%, but as you’ve said some people can give from 5%-25% commonly. It’s not about fixating on a certain % as much as it is just giving in the first place.

My wife and I could really do a better job. We do give money occasionally (less than 5%), but also focus on donating our time and efforts when we can. For us this allows us to balance our want to give with also aggressively paying down our debt.

This article has given me a little bit of a kick in the butt, though. We could be doing a lot better!

]]> By: -> Monday Roundup And Link Love! | Bible Money Matters http://www.myliferoi.com/2009/04/the-savings-account-the-spending-account-the-charity-account/#comment-520 -> Monday Roundup And Link Love! | Bible Money Matters Mon, 27 Apr 2009 17:57:00 +0000 http://www.myliferoi.com/?p=686#comment-520 [...] Savings Account, Spending Account, Charity Account [...]

[...] Savings Account, Spending Account, Charity Account [...]

]]>