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Giving is An Essential Part of Accumulating Wealth

By Erik Folgate

Christmas is one week away, and you have probably been so busy buying gifts and going to parties that you have not had a chance to sit down and reflect on the past year.  Whether you are celebrating Christmas or any other holiday, this season is all about giving.  Giving gifts and giving of yourself is what matters the most for the next two weeks. 

We accumulate wealth in order to give it away.  I know, it sounds like a foreign concept in the world we live in today.  The pursuit of accumulating wealth should not be driven by wanting to buy a plasma tv, a new car, or a bigger house.  Change your family tree by pursuing wealth with the intention of giving and giving generously.  I can’t think of any other better way to spend money than by giving it to someone more in need than yourself.  Warren Buffet recently agreed to relinquish 80% of his wealth to the Bill Gates foundation and his children’s charity foundations.  If there is anyone we should take notes with how to build wealth and how to manage it, it is Warren Buffet.  He has lived in his same home for more than 40 years, and he frequently drives around a pick-up truck.  He knows that giving away your wealth and yourself is what brings true happiness, not new toys. 

Remember this holiday season to experience the joy of giving.  It’s great to see the smile on someone’s face when they feel loved because you thought of them.  It doesn’t even need to be a tangible gift.  Take someone out for lunch, go spend time somewhere.  If you are crafty, make something.  It’s great to see the smile on someone’s face when they feel loved because you thought of them.  A child’s smile says a million words.   I will be out of town for the next few days, so have a Merry Christmas, and be safe!  Don’t go bust your Christmas budget!

Erik Folgate
Erik and his wife, Lindzee, live in Orlando, Florida with a baby boy on the way. Erik works as an account manager for a marketing company, and considers counseling friends, family and the readers of Money Crashers his personal ministry to others. Erik became passionate about personal finance and helping others make wise financial decisions after racking up over $20k in credit card and student loan debt within the first two years of college.

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