Have you ever found yourself wanting to give or donate but cant seem to find the extra cash?
Many of us have wanted to give to a cause we believe in or to a person in need because we know that we've been given so much. Even with good intentions, we still feel stuck in our financial situation. We see others give without reservation, but how? More than a bigger paycheck, they have a margin set aside for situations like giving.
"What is margin? In our personal finances, margin is space. It is breathing room. It is money that is not committed to bills or debt. There is freedom in the margin, freedom to generously respond to the needs around us."
Since, margin doesn't just appear in our bank accounts- where does it come from? Well, this helpful article, 4 Ways to Increase Your Margin for Generosity, Art Rainer has a few practical tips!
- Get a plan( Determine goals, figure out monthly income, determine monthly expenses, adjust your budget)
- Stop keeping up with other people's lifestyles (You don't need to 'Keep up with the Jones-es')
- Crush debt (Debt makes it difficult to be generous)
- Save (Try to have room for financial emergency's so your generosity will not be effected or lead to more debt)
Read Rainer's article, here.