12 Steps to Financial Wellness Series Step 6: Pay it Forward

Money management can sometimes feel inherently selfish. You’re earning, budgeting, saving, and investing, all so you and those you love can enjoy a worry-free life on your own standards. But there is so much more you can do with the money you’ve been blessed with – as well as with your time, talents, and possessions. Let’s explore five ways you can make the world a better place by paying it forward. 

1. Donate funds to your favorite cause

The classic way to pay it forward can also be the simplest. Find a charity or two that speaks to your heart and make a donation that fits your budget. Ideally, it is substantial enough to make a difference, but any amount you can responsibly commit adds value and is appreciated. Be sure to verify the authenticity of the organization on a charity-vetting site like BBB Wise Giving Alliance, Charity Navigator, or CharityWatch. Don’t forget to save your receipt so you can claim a charitable-giving deduction on your taxes. 

2. Commit to doing one random act of kindness each day

Kindness doesn’t have to be big or loud to make a difference. It doesn’t even have to be costly. Small things that mean a lot can really make someone’s day. You can offer to make a coffee for your coworker, feed a parking meter that’s about to run out for a stranger’s car, remove a branch or rock from the middle of a busy thoroughfare or walking trail, or let someone go ahead of you at a checkout counter. There’s so much you can do when you look to give. 

3. Write thank you letters

When was the last time you thanked your child’s teacher for doing such a fantastic job of providing your child with an education? When was the last time you thanked your parents for giving you life, a happy childhood, and their ongoing love and support? When was the last time you thanked your mailperson? Pick up a nice set of thank you cards and spend 20 minutes writing thank you cards to the people in your life, those who do so much for you but aren’t always thanked for everything they do. The recipients will likely cherish your letters for many months to come. 

4. Donate your time

Unfortunately, numerous people worldwide suffer from sickness, poverty, loneliness, mental health challenges, or other hardships. With just a small donation of your time, you can help alleviate some of their suffering. You can volunteer at a soup kitchen, help bring cheer to hospitals, and offer to babysit for a couple going through hard times so they can have a night out to themselves or make a habit of visiting a lonely person. You can brighten someone’s day with your presence alone!

5. Share what you have

Aside from money and time, there are so many ways you can use what you have to bring cheer into someone else’s life. You can donate old clothing to Goodwill or gift a friend or neighbor a full set of your child’s outgrown clothing if it’s still in great condition. Offer to lend out your books to your bookworm friends. Run a low-cost, or even no-cost, yard sale for all the toys, furniture, and other items in your home that you no longer use. Share your unused sports equipment with children who are less privileged than yours.

There are many ways to pay it forward and make the world a better place. And when you give to others, you’re giving to yourself by learning to be a better, kinder person.