Step 10 of The Financial Fitness Bootcamp Course

Today’s challenge is a little bit different from the previous ones. Although not your typical financial task, it is imperative to incorporate this kind of action into your life to gain true financial fitness.

Karen Jensen, co-author of our upcoming book wrote:

“Did you know that some of the most respected financial experts teach that giving money away for charitable purposes is ESSENTIAL to becoming financially successful?

It’s true! And the reasons are multifold.

First of all, when you are giving to the less fortunate you are focusing less on yourself and your own problems and more on others. You FEEL richer just because you are acknowledging that you are able to help those whose needs are greater than your own. Being generous helps you to FEEL more content with your life and therefore, happier.

Secondly, there is the principle of reciprocity. When you give, you are given. When you help, you are helped. When you love, you are loved. The opposite is also the case. Robert Kiyosaki, author of Rich Dad, Poor Dad explains it this way:

“When it comes to money, love, happiness… all one needs to remember is first to give what you want and it will come back in droves. Often just the process of thinking of what I want and how I could give what I want to someone else breaks free a torrent of bounty. Whenever I feel that people aren’t smiling at me, I simply begin smiling and saying hello, and like magic, there are suddenly more smiling people around me. It is true that your world is only a mirror of you. (Rich Dad, Poor Dad)

Lastly, learning to sacrifice a little of what you have helps you appreciate what you have.

For instance, in my religion, we fast on a monthly basis for 24 hours (go without any food or water). One of the purposes for this is that we then contribute the amount of money we would have spent on food in that 24 hours to those in need. It is a wonderful opportunity to help others.

However, it also reminds me on a regular basis how much I take for granted.

On a normal day, I grab my bowl of cereal without giving it a second thought. On the day I go without breakfast, sometimes it’s difficult to think about anything except how much I would love a bowl of cereal. Sacrifice makes us appreciate our blessings.”

So Challenge # 10 is to sacrifice something you normally buy and instead give that money to someone in true need or a charity/church. It could be giving up your soda, a night at the movies, coffee, eating out, etc. It just needs to be a sacrifice…make sure it hurts a little bit…and then turn around and give the same amount of money you would’ve spent away. You will help others and you will be helping yourself as well.