The reason that I am so passionate about being financially wise about money is not so that I can hold onto all of it until the day that I die. Someone who does that is foolish. A wise, sensible person will do three things with money according to Dave Ramsey, “Save it, Have Fun with it, and Give it”.
We have no problems at ALL having fun with money, we have a decent problem with saving money, but we have a HUGE problem with giving money. And this is not because people are greedy. In fact, most people are not greedy. The problem is that they do not set themselves up to be in a position to give.
The only way to put yourself into a position to give is by gaining control of your finances. You must keep a monthly budget, get out of debt and stay out of debt, pay cash for cars and household items, save more than you spend, and invest your money wisely. I have met very few people whom live paycheck to paycheck that are excited and motivate to give away their money. This is because we must put food on the table for our family before we are able to begin to think about giving to others.
As college students, recent graduates, and young people in your late twenties and early thirties, it is important to set money aside in your budget to give. Even if it is just $20 a month, it will make a difference. If you belong to a certain faith, give to your church monthly. Pick out a widowed woman or single mother struggling and send her an anonymous money order. Sponsor an underprivileged child for a monthly fee. If you are in college or straight out of college and your budget is too tight to give money, please do not be discouraged! There are plenty of ways to give your time and efforts to others! Volunteer in your community or offer to tutor high schoolers for free once a month. Here are a list of websites that I recommend for giving . . .
Charity Navigator this website is a great guide for finding the charity that best fits your passions sorted by category or region.