Category Archives: Giving

Give Thanks and Keep the Bank!

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Today is a day when most of us will reflect on our blessings, spend time with our loved ones, and eat till our heart’s content.  In addition to enjoying great food, family and friends, many of us will stand in line to take advantage of the numerous deals that will be available on Black Friday and Cyber Monday.  According to a study performed by American Express, Americans will spend an average of $831 on gifts this holiday season with many spending $504 on Black Friday.  While it’s nice to think of others and remember them through the act of gift giving, we should not create additional stress for ourselves by ‘giving away the bank’ during the holiday.  After all, there’s life after Christmas day. 

Before you join the masses in the ‘hustle and bustle’ tomorrow, consider the following money saving tips and gifts that can benefit the recipient beyond Christmas day:

  • Establish a Gift Giving Budget.  Before you begin your shopping journey, decide how much you can afford to spend.  I recommend that you not only establish a lump sum budget, but you should also create a list of all the people you plan to buy for and establish a budget for each person.  If you do plan to begin shopping on Black Friday, take time today to create your detailed budget and review the numerous sales ads that will be included in today’s newspaper.  In essence, develop your plan of action
  • Give Gifts that are Impactful.  Take a moment and think about those on your list.  What makes them tick?  What causes are they most passionate about?  I’ve often heard people say, “What do you buy for someone who has everything?”  In lieu of buying something that they may not use, consider making a donation to their favorite charity.  You might also want to consider their hobbies; a gift card to a store that supports a hobby (e.g., Hobby Lobby for a Scrapbooking, Bass Pro Shop for hunting and fishing, etc.) will definitely be appreciated and used by the recipient
  • Give the Gift of Exposure.  Perhaps you have someone on your list that has never experienced being pampered, or maybe they’ve talked about taking dance lessons, but have never taken the time to do so.  This holiday season; consider giving a gift of a new experience.  This is especially important for children.  Many times as parents we will buy toys and video games for our kids, but what if we used that money to pay for swimming lessons, basketball camp, or music lessons?  Remember, we are significant contributors to our children’s value system.  This Christmas, think about the camps or lessons that you wanted to enroll them in last year but didn’t have the money to do so; take a moment and set aside a portion of your Christmas budget to ensure that they’re able to participate this time around.  A child may not remember what toys they received from year to year, but they will remember a gift of exposure

As we ‘break bread together’ and enjoy our families, don’t forget the reason for the season.  Take a moment to pray for those that are less fortunate, and make a commitment to keep your Christmas spend within your means.  Although my father-in-law is no longer with us, he had a saying that I will share with you today, “Love one another and take care of one another.”  Happy Thanksgiving!

What A Difference A Day Makes

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I’m sure that you’ve heard about Ted Williams by now.  If not, Google “ted williams” to get a recant of his awe-inspiring story.  As I’ve followed the news, I have been struck by how quickly life happens.  I’ve also thought about how the decisions we make each day can position us for success or activate a derailment in our lives.

This story really pulled at my “heart strings”.  If we’re truthful, every one of us knows someone like Ted Williams.  In fact, there’s likely a little bit of Ted Williams in each of us; past failures or poor decisions paralyze us from stepping out and using our talents to pursue our dreams.  What dream have you deferred because of past mistakes?

Another person of interest in this story is Doral Chenoweth III, the videographer that showed compassion and took action.  How often do we discount people because of their circumstances?  Mr. Chenoweth had to first look beyond Mr. Williams’ outward appearance in order to have a conversation and uncover his gift.  We should all be mindful of our interactions with others.  After all, the person that you dismiss could very well be a bridge to your destiny. 

I’ve read the headlines about Mr. Williams’ criminal past, and I know some may think that he’s undeserving of this opportunity.  I believe that we’ve all been blessed with an opportunity at one time or another that we didn’t deserve.  Others may say, “What did he really do?  He was a panhandler that is now an overnight phenomenon!  He was not positioning himself for success!” I must disagree with you on this point.  Albeit unconventional, he promoted his gift.  His sign said the following:

“I have a God given gift of voice.  I am an ex-radio announcer who has fallen on hard times.  Please, any help will be greatly appreciated.  Thank you and God bless.”

How often do we promote our talents and skill sets?  In fact, many of us don’t believe in self-promotion.  And, if around others that do it, we perceive them as arrogant or cocky.  T. Harv Eker says it best, “successful people believe in self-promotion.”   

Personally, I pray that he succeeds.  He has been given an awesome gift, another chance.  If given the opportunity, are you ready for your big break?  I want to hear from you.  How do you feel about the instant fame of the man with the golden voice?

A Gift That Keeps on Giving

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Christmas is less than a week away.  Although it’s celebrated on the same day each year, somehow it still sneaks up on us.  If you’re like me, there may be a few people on your Christmas list that you are challenged by – you simply don’t know what to buy for them.  Instead of buying one more sweater, scarf, or toy, consider giving a financial gift that will continue to give well beyond Christmas day.  A few suggestions include:

  • Purchase a savings bond.  While it is not an aggressive or high yielding investment option, it does earn interest.  Additionally, it is exempt of state and local taxes, and federal taxes are deferred until the bond is redeemed.  In the book Rags to RICHES, we stress the importance of practicing wealth building behaviors (i.e., saving and investing).  Savings bonds will not likely make you rich, but they do promote wealth.  Remember, small changes can create big results
  • Buy a share of stock.  What does the person love?  Are they avid patrons of Starbucks or McDonald’s?  A common recommendation when purchasing stock is to buy stock in what you love or support.  To purchase a single share, visit www.giveashare.com
  • Give a financial book or a subscription to a financial magazine or newspaper.  Knowledge is power and you can’t do what you don’t know.  You also don’t know what you don’t know
  • Contribute to a child’s 529 education savings account.  This will require some coordination with the child’s parent, but it’s worth it.  A 529 education savings account is a tax deferred investment account that is designed to help families save for future education expenses.   If the child doesn’t have one, consider giving an initial investment.  Many times we give children toys or things that may keep their attention for a short while, but in all likelihood, before the holiday break is over, the toy is broken, lost, or put aside.  Invest in a child’s future.  They may not fully understand it now, but they will thank you later
  • Buy a gift certificate for their favorite charity.  Is the person on your list passionate about a cause?  Perhaps they have been personally impacted by cancer.  Think about what’s important to them.  If you don’t know, ask.  Gift cards for charitable donations can be purchased through www.charitygiftcertificates.com

Christmas is the celebration of Jesus’ birth.  The practice of giving gifts can be traced to the gifts that the three wise men gave to Christ.  Although each had a significant spiritual meaning, they were also very valuable.  As we make a mad dash to finalize our preparations for the holiday, consider giving a gift that keeps on giving.

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