1 00:00:00,040 --> 00:00:02,880 Speaker 1: Welcome to How to Money. I'm Joel and I'm Matt 2 00:00:03,000 --> 00:00:25,040 Speaker 1: and today we're talking about how to give your money away. Yeah, man, 3 00:00:25,000 --> 00:00:26,280 Speaker 1: that's freight to day on the shore. We're gonna talk 4 00:00:26,280 --> 00:00:27,960 Speaker 1: about why you should give your money away, why it's 5 00:00:27,960 --> 00:00:30,280 Speaker 1: actually beneficial to you, and then how to give your 6 00:00:30,280 --> 00:00:33,120 Speaker 1: money away, choosing where to give and making sure your 7 00:00:33,159 --> 00:00:37,880 Speaker 1: money is actually going to charities that will use it. Well. Yeah, Joel, 8 00:00:37,920 --> 00:00:40,280 Speaker 1: And that actually makes me think of a recent comment 9 00:00:40,320 --> 00:00:42,600 Speaker 1: that we had on our site by Sarah, and she 10 00:00:42,680 --> 00:00:45,040 Speaker 1: had mentioned how, you know, she liked how we have 11 00:00:45,080 --> 00:00:47,560 Speaker 1: a good balance between living a frugal life but also 12 00:00:47,680 --> 00:00:51,599 Speaker 1: enjoying life and you know, giving money away and being charitable. 13 00:00:52,240 --> 00:00:54,240 Speaker 1: That kind of falls on the side of living that 14 00:00:54,320 --> 00:00:56,240 Speaker 1: good life, right, because if we were only about being 15 00:00:56,320 --> 00:00:59,240 Speaker 1: cheap and like living that frugal life, it's like, well, 16 00:00:59,560 --> 00:01:01,560 Speaker 1: I don't really have money to give away to other people. 17 00:01:02,360 --> 00:01:04,160 Speaker 1: A big part of what we try to, you know, 18 00:01:04,200 --> 00:01:07,199 Speaker 1: what we strive towards is all aspects of enjoying life, 19 00:01:07,200 --> 00:01:09,880 Speaker 1: and included in that, you know, is giving money away. 20 00:01:09,959 --> 00:01:11,840 Speaker 1: So so if you've listened for a while, you know 21 00:01:12,040 --> 00:01:13,800 Speaker 1: that's gonna sound familiar. That's the kind of what we 22 00:01:13,800 --> 00:01:16,320 Speaker 1: talk about every week, right, We try to balance the two. 23 00:01:16,720 --> 00:01:18,320 Speaker 1: But if you're a new listener and you're kind of 24 00:01:18,319 --> 00:01:20,479 Speaker 1: wondering why it is that we're talking about giving money 25 00:01:20,480 --> 00:01:25,160 Speaker 1: away when this is a podcast about money and beer, well, 26 00:01:25,200 --> 00:01:27,440 Speaker 1: you know, that's why we try to enjoy life, but 27 00:01:27,560 --> 00:01:30,560 Speaker 1: we're also striving to be why stewards of our money 28 00:01:30,560 --> 00:01:33,040 Speaker 1: and and along with that is being frugal. So, Sarah, 29 00:01:33,120 --> 00:01:35,880 Speaker 1: thanks so much for that comment. Yeah, we really appreciate that. Yeah, Matt. 30 00:01:35,880 --> 00:01:38,319 Speaker 1: And sometimes people ask me like, hey, do I have 31 00:01:38,400 --> 00:01:41,880 Speaker 1: to like beer in order to listen to your podcast? Yes, 32 00:01:43,000 --> 00:01:45,640 Speaker 1: it would help, but but no, you really don't, don't. 33 00:01:45,680 --> 00:01:48,480 Speaker 1: I Mean, I think the majority of the reason that 34 00:01:48,520 --> 00:01:50,960 Speaker 1: we pour a beer on the on each episode, Matt, 35 00:01:51,080 --> 00:01:53,840 Speaker 1: is it kind of represents something that we enjoy and 36 00:01:54,000 --> 00:01:56,160 Speaker 1: somewhere that we put our money, that we that that 37 00:01:56,200 --> 00:01:58,600 Speaker 1: matters to us. But then on top of that, I 38 00:01:58,600 --> 00:02:02,640 Speaker 1: think it represents more than anything, this concept of balance, right, 39 00:02:02,680 --> 00:02:04,800 Speaker 1: and exactly, that's something that means a lot to both 40 00:02:04,840 --> 00:02:06,480 Speaker 1: of us. There are a lot of people out there 41 00:02:06,480 --> 00:02:10,000 Speaker 1: that are trying to retire at age thirty four, but 42 00:02:10,000 --> 00:02:12,760 Speaker 1: they're not living a life of balance. You know, on 43 00:02:12,800 --> 00:02:14,400 Speaker 1: the way to that. And then there are also people 44 00:02:14,440 --> 00:02:18,639 Speaker 1: who are completely out of whack in overspending and they're 45 00:02:18,639 --> 00:02:21,680 Speaker 1: working way too much and they're you know, neglecting things 46 00:02:21,760 --> 00:02:24,440 Speaker 1: that actually matter to them. Hopefully that comes out in 47 00:02:24,480 --> 00:02:27,920 Speaker 1: our episodes. That balance is such a key, uh, and 48 00:02:27,919 --> 00:02:30,520 Speaker 1: that's something that we strive for and definitely don't always 49 00:02:30,520 --> 00:02:33,360 Speaker 1: do well. Balances at the heart of kind of the 50 00:02:33,400 --> 00:02:35,919 Speaker 1: core of the mission of what we're up to here. 51 00:02:36,000 --> 00:02:38,720 Speaker 1: That's right, it's our mission. So Matt onto the beer 52 00:02:38,760 --> 00:02:44,040 Speaker 1: that we are drinking this evening. Oh man, that's not 53 00:02:44,040 --> 00:02:48,760 Speaker 1: a loaded, nice pop. So you've got this beer. This 54 00:02:48,840 --> 00:02:53,919 Speaker 1: is Russian River. This beer is called Consecration, which is 55 00:02:53,960 --> 00:02:57,480 Speaker 1: a barrel edge sour beer and Russian River. They're out 56 00:02:57,480 --> 00:02:59,480 Speaker 1: of California, right, that's up there, like kind of near 57 00:02:59,480 --> 00:03:02,800 Speaker 1: wine country, Yeah, exactly. And this beer comes to us 58 00:03:02,800 --> 00:03:07,200 Speaker 1: courtesy of our friend Carl, who runs the website hundred 59 00:03:07,280 --> 00:03:10,280 Speaker 1: days dot com. Uh. He's an awesome writer, he's an 60 00:03:10,280 --> 00:03:14,040 Speaker 1: awesome dude. He absolutely loves good beer, and so he 61 00:03:14,080 --> 00:03:16,640 Speaker 1: was kind enough to send send us this beer, which 62 00:03:16,680 --> 00:03:18,799 Speaker 1: is I think one of both of our all time 63 00:03:18,840 --> 00:03:20,959 Speaker 1: favorite beers. And he's got a lot of wisdom to share. 64 00:03:21,280 --> 00:03:23,640 Speaker 1: The hundred was in regards to he was set a 65 00:03:23,680 --> 00:03:26,720 Speaker 1: goal to be able to be financially independent by you know, 66 00:03:26,720 --> 00:03:29,080 Speaker 1: fifteen hundred days later, right from when he started the ball. Yep. 67 00:03:29,240 --> 00:03:30,960 Speaker 1: So that was the whole that's the whole reason behind 68 00:03:30,960 --> 00:03:34,440 Speaker 1: fifteen hundred days. Yeah, man, this beer was I mean, really, 69 00:03:34,639 --> 00:03:36,440 Speaker 1: I think we've had sours before. I know I had 70 00:03:36,600 --> 00:03:38,720 Speaker 1: a few hours before this, but this was the first 71 00:03:38,840 --> 00:03:42,160 Speaker 1: sort of world class barrel age sour that kind of 72 00:03:42,320 --> 00:03:45,360 Speaker 1: knocked my socks off, you know. Yeah. I distinctly remember 73 00:03:45,560 --> 00:03:48,360 Speaker 1: another friend, because this brewery's out of California, the only 74 00:03:48,360 --> 00:03:50,840 Speaker 1: shipped to a few states. Another West Coast friends sent 75 00:03:50,920 --> 00:03:53,880 Speaker 1: us a bottle. We split it, and I just remember saying, 76 00:03:54,680 --> 00:03:57,920 Speaker 1: if sours can taste like this, I want more, because 77 00:03:57,960 --> 00:04:00,640 Speaker 1: we've had some kind of average to subpar one before that, 78 00:04:01,040 --> 00:04:04,200 Speaker 1: and Consecration from Russian River just kind of took the 79 00:04:04,240 --> 00:04:07,120 Speaker 1: cake and really still does to this day. It's such 80 00:04:07,200 --> 00:04:10,240 Speaker 1: a delicious beer. Yeah man, So this pours, it's pouring 81 00:04:10,280 --> 00:04:12,840 Speaker 1: like a nice kind of murky brown, but it's got 82 00:04:12,920 --> 00:04:14,640 Speaker 1: a lot of bubbles to us, you know, it's definitely 83 00:04:14,960 --> 00:04:17,679 Speaker 1: it's definitely gonna have a nice bit of carbonation. Ready 84 00:04:17,720 --> 00:04:23,080 Speaker 1: to taste this, Yep, that's still awesome. Speaking of balance 85 00:04:23,120 --> 00:04:25,440 Speaker 1: that we talked about earlier, this this beer is so 86 00:04:25,480 --> 00:04:28,440 Speaker 1: well balanced. Some of the sours today are getting a 87 00:04:28,440 --> 00:04:32,000 Speaker 1: little crazy, little out there. This just kind of toes 88 00:04:32,080 --> 00:04:35,360 Speaker 1: the line that it's walking perfectly and I so dig 89 00:04:35,440 --> 00:04:38,240 Speaker 1: this beer. Yeah, it's pretty aggressive, nice nice bit of 90 00:04:38,240 --> 00:04:40,560 Speaker 1: tartness to it, but it's barely aged, so you know, 91 00:04:40,760 --> 00:04:42,880 Speaker 1: just those oak notes just kind of really balance it 92 00:04:42,920 --> 00:04:45,320 Speaker 1: out and kind of smooths it out, makes it real 93 00:04:45,480 --> 00:04:47,880 Speaker 1: easy to drink. It's got some slightly more bitter notes 94 00:04:47,920 --> 00:04:51,200 Speaker 1: to it than maybe some of the sours we've had recently. Yeah, 95 00:04:51,240 --> 00:04:52,760 Speaker 1: I kind of like that. Actually, it's it's kind of 96 00:04:52,800 --> 00:04:55,520 Speaker 1: rare to find. It's usually super sweet and when it 97 00:04:55,560 --> 00:04:57,160 Speaker 1: comes to sour and so that those kind of bitter 98 00:04:57,160 --> 00:05:00,360 Speaker 1: notes balance it out. And it's definitely got rush and river. 99 00:05:00,400 --> 00:05:04,320 Speaker 1: Being based in wine country obviously major access to wine 100 00:05:04,360 --> 00:05:07,880 Speaker 1: barrels and this one's aged in Capernet saweignon barrels and 101 00:05:07,960 --> 00:05:10,880 Speaker 1: so it's got a little bit of that wine quality 102 00:05:10,880 --> 00:05:12,880 Speaker 1: to it as well. Uh, yeah, you know what I 103 00:05:12,880 --> 00:05:14,560 Speaker 1: feel like, guess what I can feel sort of like 104 00:05:14,600 --> 00:05:17,880 Speaker 1: the tannin sort of dryness, kind of coming out of 105 00:05:17,880 --> 00:05:20,040 Speaker 1: the wood a little bit, maybe completely. And so if 106 00:05:20,040 --> 00:05:23,559 Speaker 1: you're into wine not really terribly into beer, a beer 107 00:05:23,680 --> 00:05:25,280 Speaker 1: like this would be kind of a good one to 108 00:05:25,360 --> 00:05:27,880 Speaker 1: check out. And we're actually seeing more and more of 109 00:05:27,880 --> 00:05:32,240 Speaker 1: that beer wine hybrid kind of thing happening. So all 110 00:05:32,279 --> 00:05:34,440 Speaker 1: the lines are getting blared. Man, I know, right, have 111 00:05:34,520 --> 00:05:36,040 Speaker 1: you guys ever been up to a wine country like 112 00:05:36,160 --> 00:05:38,880 Speaker 1: Napa or Sooma? No, never done it. I think I've 113 00:05:39,160 --> 00:05:42,240 Speaker 1: like southern Oregon has some wineries and I've that's up there. 114 00:05:42,240 --> 00:05:44,919 Speaker 1: I've done that before, but never like the California wine region. 115 00:05:45,080 --> 00:05:48,640 Speaker 1: So Kit and I went once and we decided, okay, 116 00:05:48,640 --> 00:05:50,360 Speaker 1: we're gonna be over there. We've got to stop in, 117 00:05:50,520 --> 00:05:53,200 Speaker 1: you know, and like Napa and Sonoma, thinking that we 118 00:05:53,200 --> 00:05:56,720 Speaker 1: wouldn't really enjoy it, but no, we we loved it. Man. 119 00:05:56,720 --> 00:05:58,400 Speaker 1: We had such a good time. And we're not even 120 00:05:58,400 --> 00:06:02,479 Speaker 1: really into wine, but just seeing the grounds and the vineyards, 121 00:06:02,520 --> 00:06:04,320 Speaker 1: you know, being able to like the couple that we 122 00:06:04,360 --> 00:06:07,559 Speaker 1: went to had hiking trails like on the property as well. Wow. Yeah, 123 00:06:07,640 --> 00:06:10,080 Speaker 1: And so it's gorgeous and then you get to cap 124 00:06:10,080 --> 00:06:12,400 Speaker 1: it off with going down into the you know, the 125 00:06:12,440 --> 00:06:14,480 Speaker 1: cave or whatever where they where the age all the barrels. 126 00:06:14,600 --> 00:06:16,320 Speaker 1: It's nice and cold down there after you've been sweating 127 00:06:16,360 --> 00:06:18,800 Speaker 1: up in the California sun and get to tip back 128 00:06:18,880 --> 00:06:21,599 Speaker 1: some delicious wines. And yeah, we had a great time 129 00:06:22,320 --> 00:06:24,960 Speaker 1: for obvious reasons. I guess there is something about vineyards 130 00:06:25,080 --> 00:06:27,680 Speaker 1: that's just beautiful. It's a little more romantic than than 131 00:06:28,000 --> 00:06:30,560 Speaker 1: just a brewer, right right, Yeah, completely from that point 132 00:06:30,560 --> 00:06:32,719 Speaker 1: of view, I can totally understand why you want to 133 00:06:32,720 --> 00:06:34,720 Speaker 1: do it, you know, and I think especially getting into 134 00:06:34,760 --> 00:06:37,960 Speaker 1: beers like this, you know, drinking some of those beers 135 00:06:37,960 --> 00:06:40,440 Speaker 1: that have a little more wine like qualities. I can 136 00:06:40,440 --> 00:06:43,240 Speaker 1: completely see why people dig wine, and I can see 137 00:06:43,240 --> 00:06:45,920 Speaker 1: myself someday in the future maybe drinking more wine than 138 00:06:45,960 --> 00:06:48,800 Speaker 1: I do now, but right now focused on beer. But yeah, 139 00:06:48,800 --> 00:06:50,400 Speaker 1: that being said, I mean, if you are out there 140 00:06:50,400 --> 00:06:51,960 Speaker 1: and you're a wine drinker and you know of like 141 00:06:52,360 --> 00:06:54,680 Speaker 1: a bottle of wine that's like in the I don't know, 142 00:06:55,680 --> 00:06:59,520 Speaker 1: sixteen eighteen dollar bottle, a bottle range that that you 143 00:06:59,640 --> 00:07:01,840 Speaker 1: know as really good and that you could recommend to somebody, 144 00:07:02,320 --> 00:07:04,520 Speaker 1: give us a shot. I mean, I would love to know, like, 145 00:07:04,640 --> 00:07:07,040 Speaker 1: what's a really good bottle that you can get for 146 00:07:07,200 --> 00:07:10,440 Speaker 1: you know, sixteen bucks anything of his Kirkland signature. My buddy, 147 00:07:11,720 --> 00:07:14,440 Speaker 1: I don't know if that's true. However, I'm sure someone's 148 00:07:14,440 --> 00:07:16,520 Speaker 1: gonna write it and say, oh, it's actually not that bad, 149 00:07:16,640 --> 00:07:19,000 Speaker 1: you know, just like the Aldi beer. No, not terrible. 150 00:07:19,200 --> 00:07:21,520 Speaker 1: So tip to the folks that do like wine. There's 151 00:07:21,520 --> 00:07:24,760 Speaker 1: a website called Costco Wine blog dot com, and there's 152 00:07:24,760 --> 00:07:28,280 Speaker 1: this dude who dedicates his uh at least free time. 153 00:07:28,280 --> 00:07:30,920 Speaker 1: I don't know about his life, but he dedicates himself 154 00:07:31,000 --> 00:07:34,920 Speaker 1: entire life to writing about and reviewing the Costco wines. 155 00:07:35,400 --> 00:07:38,280 Speaker 1: And they're actually like just the Costco irons, just the 156 00:07:38,320 --> 00:07:41,000 Speaker 1: Costco ones, and there are you know, Costco is actually 157 00:07:41,040 --> 00:07:44,600 Speaker 1: I think the number one buyer and seller of wine 158 00:07:44,720 --> 00:07:46,800 Speaker 1: in the country. Yeah, just like Walmart's the number one 159 00:07:46,920 --> 00:07:50,640 Speaker 1: organic produce. Yeah. That's a good point. That's a good point. 160 00:07:50,680 --> 00:07:53,120 Speaker 1: I mean, I mean that bean said, like, certainly Costco 161 00:07:53,160 --> 00:07:55,440 Speaker 1: has got great wines. Though they do from what I've heard. 162 00:07:55,480 --> 00:07:57,640 Speaker 1: I'm certainly not a connoisseur, and and I've I've tried 163 00:07:57,680 --> 00:07:59,280 Speaker 1: a couple of them, and they've they've been a lot 164 00:07:59,320 --> 00:08:02,040 Speaker 1: better than two buck Chuck in my opinion. But but yeah, 165 00:08:02,040 --> 00:08:04,040 Speaker 1: that that blog is really cool if you're into wines 166 00:08:04,080 --> 00:08:06,160 Speaker 1: and want to check it out. And another thing that 167 00:08:06,200 --> 00:08:08,880 Speaker 1: Costco is great for, by the way, is getting bottles 168 00:08:08,920 --> 00:08:13,400 Speaker 1: of liquor, oftentimes the Costco liquor. If you're particular Costco 169 00:08:13,600 --> 00:08:15,120 Speaker 1: and you're not a member, Matt, We're going to fix 170 00:08:15,160 --> 00:08:17,440 Speaker 1: that in the near future for you. It's too far away, man, 171 00:08:17,480 --> 00:08:19,200 Speaker 1: That's that's my big thing. I just don't like driving, 172 00:08:19,240 --> 00:08:21,680 Speaker 1: so I don't want to hear your excuses close the 173 00:08:21,680 --> 00:08:24,880 Speaker 1: audia is our house. Now, that's true, I know. But 174 00:08:25,000 --> 00:08:29,440 Speaker 1: so the liquor selection at Costco is really really good, 175 00:08:29,680 --> 00:08:32,440 Speaker 1: and the prices are insanely good too, because usually a 176 00:08:32,440 --> 00:08:35,679 Speaker 1: package store marks up a bottle of liquor between thirty 177 00:08:36,760 --> 00:08:39,760 Speaker 1: and so. At Costco, the most mark up that Costco 178 00:08:39,760 --> 00:08:43,720 Speaker 1: ever does is so typically you get a bottle of 179 00:08:43,800 --> 00:08:48,080 Speaker 1: their Kirkland signature liquor for ten dollars cheaper on average 180 00:08:48,120 --> 00:08:50,439 Speaker 1: ten to fifteen dollars cheaper than what you'd pay at 181 00:08:50,480 --> 00:08:54,040 Speaker 1: a package store. They also have regular brands of booze 182 00:08:54,040 --> 00:08:56,959 Speaker 1: as well. Stuff. Yeah, and it's cheaper too, like by 183 00:08:57,040 --> 00:08:59,920 Speaker 1: good ten bucks, so you can at least pick me 184 00:09:00,040 --> 00:09:01,839 Speaker 1: up a handler to you know, if you're going up there, 185 00:09:02,160 --> 00:09:05,640 Speaker 1: I'll see what I can do. By the way, I 186 00:09:05,720 --> 00:09:07,640 Speaker 1: just wrote an article it's up on the website now 187 00:09:07,679 --> 00:09:10,880 Speaker 1: about where you should go to get beers when you're 188 00:09:10,880 --> 00:09:13,319 Speaker 1: in Atlanta. Uh and so don't miss that. I also 189 00:09:13,400 --> 00:09:15,920 Speaker 1: mentioned some of our antiquated beer laws in the article, 190 00:09:16,000 --> 00:09:19,160 Speaker 1: So check that out if you're interested on knowing where 191 00:09:19,240 --> 00:09:21,800 Speaker 1: we drink beer in in our town, and if you're visiting, 192 00:09:21,880 --> 00:09:24,599 Speaker 1: definitely be sure to hit some of those places up Yeah. 193 00:09:24,880 --> 00:09:27,000 Speaker 1: So Matt onto the topic at hand, how to give 194 00:09:27,040 --> 00:09:29,560 Speaker 1: your money away. And I think ultimately you and I 195 00:09:29,600 --> 00:09:32,079 Speaker 1: both think that there's a lot that we as human 196 00:09:32,120 --> 00:09:36,280 Speaker 1: beings can learn by giving away our time and our money. Yeah. Man, 197 00:09:36,320 --> 00:09:38,120 Speaker 1: that's right for both of us. You know. A big 198 00:09:38,120 --> 00:09:40,680 Speaker 1: part of like some of our core values, you know, 199 00:09:40,840 --> 00:09:43,720 Speaker 1: is being generous giving our money away, like in whatever 200 00:09:43,800 --> 00:09:45,360 Speaker 1: sort of outlet that looks like for you. And and 201 00:09:45,360 --> 00:09:47,560 Speaker 1: a big reason we want to talk about this too is, 202 00:09:47,600 --> 00:09:49,360 Speaker 1: I mean, at least for me, the sort of angle 203 00:09:49,400 --> 00:09:51,280 Speaker 1: I want to approach it from is giving your money 204 00:09:51,360 --> 00:09:54,880 Speaker 1: sort of intentionally um and actively right, instead of it 205 00:09:55,040 --> 00:09:57,280 Speaker 1: being sort of this passive thing that you're doing, or 206 00:09:57,320 --> 00:10:00,280 Speaker 1: instead of it being a more like a reactionary thing, 207 00:10:00,720 --> 00:10:02,160 Speaker 1: you know that being said, I'm not going to tell 208 00:10:02,160 --> 00:10:04,400 Speaker 1: you not to like give money to somebody asking for 209 00:10:04,400 --> 00:10:06,120 Speaker 1: a handout or or whatever it is, you know it 210 00:10:06,200 --> 00:10:09,800 Speaker 1: is that someone approaches you. But there's ways that you 211 00:10:09,840 --> 00:10:11,839 Speaker 1: can give that helps you to feel maybe more in 212 00:10:11,920 --> 00:10:14,240 Speaker 1: charge of your money. It's where you're intentionally giving and 213 00:10:14,240 --> 00:10:16,480 Speaker 1: that's more part of your plan and like your mission, 214 00:10:16,559 --> 00:10:18,400 Speaker 1: you know, like your financial sort of game plan and 215 00:10:18,480 --> 00:10:21,560 Speaker 1: mission versus it sort of being this thing that is 216 00:10:21,600 --> 00:10:24,240 Speaker 1: more like an afterthought or only if someone approaches you 217 00:10:24,320 --> 00:10:27,360 Speaker 1: and you know, asks for a donation, that kind of thing. Yeah, 218 00:10:27,400 --> 00:10:29,520 Speaker 1: I think too. There's a place that people get caught 219 00:10:29,559 --> 00:10:32,560 Speaker 1: up and they say, you know what, in the future, someday, 220 00:10:32,679 --> 00:10:34,560 Speaker 1: I'm going to give my money away, you know, one 221 00:10:34,600 --> 00:10:36,360 Speaker 1: of these days, you know, once I hit this certain 222 00:10:36,400 --> 00:10:38,800 Speaker 1: point in my life, that's when I'm gonna actually start 223 00:10:38,800 --> 00:10:40,800 Speaker 1: giving away some my money. But I just can't afford 224 00:10:40,800 --> 00:10:42,760 Speaker 1: to do it right now. Uh, And I feel like 225 00:10:42,800 --> 00:10:44,960 Speaker 1: I ultimately what that what it comes down to is 226 00:10:44,960 --> 00:10:47,600 Speaker 1: that's kind of like an excuse. I hear the same 227 00:10:47,640 --> 00:10:48,960 Speaker 1: thing with a lot with a lot of people who 228 00:10:49,040 --> 00:10:52,600 Speaker 1: say I want to travel someday, and they never seem 229 00:10:52,640 --> 00:10:54,880 Speaker 1: to prioritize it. They never seemed to buy a ticket 230 00:10:54,920 --> 00:10:57,360 Speaker 1: to go somewhere and visit a really cool place. And 231 00:10:57,400 --> 00:11:00,680 Speaker 1: so that's just kind of a common thing. They prioritize 232 00:11:00,679 --> 00:11:03,320 Speaker 1: their money going to other places, and ultimately, it is 233 00:11:03,360 --> 00:11:06,240 Speaker 1: a matter of prioritization. And if you say that you 234 00:11:06,240 --> 00:11:08,920 Speaker 1: want to give some day but can't give in some 235 00:11:09,000 --> 00:11:12,640 Speaker 1: capacity now, then I think, really you're just fooling yourself 236 00:11:12,640 --> 00:11:16,600 Speaker 1: and you're checking yourself because it's something that you can 237 00:11:16,679 --> 00:11:20,160 Speaker 1: do now if you would only prioritize it. Yeah, you're 238 00:11:20,200 --> 00:11:21,880 Speaker 1: just giving the lip service. Basically, you're doing it to 239 00:11:21,960 --> 00:11:24,640 Speaker 1: kind of make yourself feel a little bit better. And 240 00:11:24,640 --> 00:11:27,840 Speaker 1: and granted maybe you're going through some terrible financial situation 241 00:11:27,920 --> 00:11:29,640 Speaker 1: right now that you know where you just you do 242 00:11:29,720 --> 00:11:31,199 Speaker 1: not have the space you do you don't have the 243 00:11:31,200 --> 00:11:34,240 Speaker 1: bandwidth for that. And for for those people, we are 244 00:11:34,240 --> 00:11:36,200 Speaker 1: not talking to you. But you know, if you've kind 245 00:11:36,200 --> 00:11:37,760 Speaker 1: of been if you've got a steady job and you've 246 00:11:37,880 --> 00:11:40,880 Speaker 1: you're living your life and you're enjoying yourself and in 247 00:11:40,920 --> 00:11:45,400 Speaker 1: your drinking craft beer, the good stuff, we're talking to you. 248 00:11:45,400 --> 00:11:47,720 Speaker 1: You know like, and I think too, we this isn't 249 00:11:47,760 --> 00:11:50,120 Speaker 1: something we want to guilt trip you over. But no, no, no, yeah, 250 00:11:50,120 --> 00:11:51,920 Speaker 1: it's not it's not this. Uh. We're not trying to 251 00:11:51,920 --> 00:11:54,200 Speaker 1: make you feel bad for not giving. But hopefully by 252 00:11:54,200 --> 00:11:57,200 Speaker 1: the end of this episode you will have seen how 253 00:11:57,280 --> 00:12:00,280 Speaker 1: it's benefited Matt and I in our lives. It has 254 00:12:00,440 --> 00:12:03,560 Speaker 1: given us a healthy detachment from our money, just kind 255 00:12:03,600 --> 00:12:06,600 Speaker 1: of healthy understanding that money isn't everything and in so 256 00:12:06,640 --> 00:12:09,880 Speaker 1: many ways that our goals right for our money and 257 00:12:09,920 --> 00:12:14,400 Speaker 1: for our lives, are actually better served by giving away 258 00:12:14,400 --> 00:12:16,720 Speaker 1: a portion of our income. And so we'll kind of 259 00:12:16,720 --> 00:12:18,360 Speaker 1: tell you what that looks like in our lives. And 260 00:12:18,559 --> 00:12:21,360 Speaker 1: I'll be honest too. You heard the last episode, uh, 261 00:12:21,400 --> 00:12:25,360 Speaker 1: where my wife told a story about where I was 262 00:12:25,640 --> 00:12:29,520 Speaker 1: charging my friends for coal. Still a terrible story that 263 00:12:29,640 --> 00:12:32,480 Speaker 1: I can't live down. But I feel like my heart 264 00:12:32,520 --> 00:12:35,640 Speaker 1: has changed a lot about giving over the years and generosity, 265 00:12:35,920 --> 00:12:37,760 Speaker 1: and so hopefully you can see kind of how I've 266 00:12:37,760 --> 00:12:40,559 Speaker 1: grown and honestly, being married, you know, being married to 267 00:12:40,600 --> 00:12:43,840 Speaker 1: my wife, Emily has accelerated that change in my life 268 00:12:44,040 --> 00:12:46,880 Speaker 1: where I prioritize it and it's been so meaningful to 269 00:12:46,920 --> 00:12:49,720 Speaker 1: me to give away a portion of what we make. 270 00:12:50,080 --> 00:12:53,080 Speaker 1: And uh so, I think in the end, if you 271 00:12:53,120 --> 00:12:55,720 Speaker 1: want a healthy view towards money, learning to give away 272 00:12:55,720 --> 00:12:58,280 Speaker 1: a portion of it, you know, and you can figure 273 00:12:58,280 --> 00:13:01,600 Speaker 1: out what that means to you exactly percentage wise, but 274 00:13:01,600 --> 00:13:04,559 Speaker 1: but learning to give away that portion can actually give 275 00:13:04,600 --> 00:13:07,920 Speaker 1: you a more robust appreciation for what you do have. Yea, man, 276 00:13:07,960 --> 00:13:09,600 Speaker 1: you know what this reminds me of two is the 277 00:13:09,760 --> 00:13:12,520 Speaker 1: our episode on asking for a discount in a totally 278 00:13:12,640 --> 00:13:15,720 Speaker 1: sort of twisted way. But but we talked about how 279 00:13:16,040 --> 00:13:17,959 Speaker 1: asking for a discount it's sort of like a muscle, 280 00:13:18,000 --> 00:13:19,199 Speaker 1: and like the more you do it, it it kind of 281 00:13:19,200 --> 00:13:21,800 Speaker 1: makes you uncomfortable or it's just because it's just hard 282 00:13:21,800 --> 00:13:23,760 Speaker 1: to do, right, um, But the more you do it, 283 00:13:23,840 --> 00:13:26,320 Speaker 1: the easier it becomes. It's a behavioral thing, you know. 284 00:13:26,320 --> 00:13:28,120 Speaker 1: It's it's like a muscle. I feel like giving your 285 00:13:28,160 --> 00:13:30,200 Speaker 1: money away. It's it's real similar, you know, it's it's 286 00:13:30,200 --> 00:13:33,120 Speaker 1: a muscle. It's sort of like this cognitive pathway where 287 00:13:33,160 --> 00:13:35,000 Speaker 1: the more you do it, the better at it you get, 288 00:13:35,480 --> 00:13:37,200 Speaker 1: the more you're sort of able to recognize it and 289 00:13:37,200 --> 00:13:39,120 Speaker 1: see it in your life kind of just as you 290 00:13:39,160 --> 00:13:41,320 Speaker 1: go throughout the day and throughout your life and you 291 00:13:41,360 --> 00:13:43,160 Speaker 1: can respond to that. Yeah, And I think in a 292 00:13:43,160 --> 00:13:45,440 Speaker 1: lot of ways, like giving our money away is like 293 00:13:45,480 --> 00:13:48,319 Speaker 1: a recognition of the fact that we aren't completely self 294 00:13:48,360 --> 00:13:51,680 Speaker 1: made people. We are influenced and made up in so 295 00:13:51,760 --> 00:13:56,280 Speaker 1: many ways of the contributions of parents, teachers, are community, 296 00:13:56,320 --> 00:13:59,160 Speaker 1: and the country that we live in. Uh, hard work 297 00:13:59,280 --> 00:14:03,280 Speaker 1: is certainly rutual to success, but being generous is that 298 00:14:03,400 --> 00:14:06,199 Speaker 1: kind of recognition of the benefits that we've received from 299 00:14:06,280 --> 00:14:09,360 Speaker 1: other people that have played major roles in our lives. 300 00:14:10,040 --> 00:14:12,120 Speaker 1: And and and in a sense, it's sort of paying 301 00:14:12,120 --> 00:14:14,840 Speaker 1: it forward, right Like you you're you have that recognition, 302 00:14:14,880 --> 00:14:16,800 Speaker 1: you see that, and then you're also doing that for 303 00:14:16,800 --> 00:14:19,320 Speaker 1: for other people. And whether that be through your finances, 304 00:14:19,440 --> 00:14:22,040 Speaker 1: right through your money directly, or just through your time 305 00:14:22,080 --> 00:14:24,600 Speaker 1: and the attention the knowledge that you're able to share 306 00:14:24,600 --> 00:14:26,880 Speaker 1: with others and kind of pour into other people's lives. 307 00:14:27,560 --> 00:14:30,640 Speaker 1: All that is a part of recognizing all that went 308 00:14:30,680 --> 00:14:33,480 Speaker 1: into you and sort of doing that for others around 309 00:14:33,480 --> 00:14:45,160 Speaker 1: you as well. So obviously, like the number one benefit 310 00:14:45,280 --> 00:14:47,560 Speaker 1: of giving your money away is helping people, right, It's 311 00:14:47,600 --> 00:14:51,640 Speaker 1: it's you trying to better the people around you, trying 312 00:14:51,680 --> 00:14:53,160 Speaker 1: to better the world around you trying to make the 313 00:14:53,160 --> 00:14:56,000 Speaker 1: world a better place. I mean it's obvious, right, But 314 00:14:56,520 --> 00:14:58,640 Speaker 1: if you think of like, Okay, how does how's giving 315 00:14:58,680 --> 00:15:00,800 Speaker 1: my money away you gonna make things better? I think 316 00:15:00,800 --> 00:15:04,120 Speaker 1: a lot of times folks can immediately just only focus on, well, 317 00:15:04,160 --> 00:15:06,200 Speaker 1: how's this going to be good for me? Like, you know, 318 00:15:06,240 --> 00:15:08,000 Speaker 1: what are the benefits? Like what how's this going to 319 00:15:08,120 --> 00:15:12,280 Speaker 1: affect my bottom line? When that shouldn't be your primary 320 00:15:12,320 --> 00:15:15,000 Speaker 1: goal at all, Like it should be because you see 321 00:15:15,000 --> 00:15:18,000 Speaker 1: a need or you really believe in this effort or 322 00:15:18,080 --> 00:15:20,440 Speaker 1: this cause, and and that's something that you're gonna, you know, 323 00:15:20,440 --> 00:15:23,640 Speaker 1: put put your money behind, yeah, because you truly believe it. Yeah. 324 00:15:23,680 --> 00:15:26,000 Speaker 1: And I think ultimately the easiest way to see the 325 00:15:26,040 --> 00:15:28,160 Speaker 1: need and then to see the benefit of where your 326 00:15:28,200 --> 00:15:31,080 Speaker 1: money is going is to give locally, right to give 327 00:15:31,120 --> 00:15:34,280 Speaker 1: to an organization that exists in your neighborhood or in 328 00:15:34,360 --> 00:15:37,480 Speaker 1: your town. And so you know, for for me, there 329 00:15:37,480 --> 00:15:40,920 Speaker 1: are are a couple of organizations that are extremely local 330 00:15:41,040 --> 00:15:44,080 Speaker 1: that I can quantify what they do. You know, I 331 00:15:44,120 --> 00:15:46,680 Speaker 1: get the newsletter updates, I run into the people that 332 00:15:46,760 --> 00:15:49,960 Speaker 1: work there. I know what is happening and the sorts 333 00:15:49,960 --> 00:15:53,760 Speaker 1: of success stories that come out of that nonprofit. So 334 00:15:54,400 --> 00:15:57,200 Speaker 1: it's really exciting to see something happening in my own neighborhood, 335 00:15:57,480 --> 00:16:00,480 Speaker 1: whether it's helping kids or helping you know, older people 336 00:16:00,520 --> 00:16:02,560 Speaker 1: whose homes are in disrepair and they can't afford the 337 00:16:02,640 --> 00:16:05,320 Speaker 1: repairs on their home. Giving the causes that are local 338 00:16:05,800 --> 00:16:08,400 Speaker 1: where you can kind of see the tangible work is 339 00:16:08,440 --> 00:16:10,720 Speaker 1: to me a really great benefit that you can actually 340 00:16:10,760 --> 00:16:13,080 Speaker 1: kind of watch the progress of your money right before 341 00:16:13,120 --> 00:16:15,080 Speaker 1: your eyes. I mean that makes me actually think this 342 00:16:15,160 --> 00:16:18,040 Speaker 1: article I saw that I read where they're talking about 343 00:16:18,080 --> 00:16:22,040 Speaker 1: how even though like the total number uh of dollars 344 00:16:22,040 --> 00:16:25,200 Speaker 1: that have been donated has increased over the years, the 345 00:16:25,320 --> 00:16:28,560 Speaker 1: number of people who have been contributing has decreased um 346 00:16:28,600 --> 00:16:30,680 Speaker 1: And like the whole article is talking about like the 347 00:16:30,720 --> 00:16:32,760 Speaker 1: pooling of money to the you know, the rich, and 348 00:16:32,880 --> 00:16:35,000 Speaker 1: how they're kind of deciding where the money goes, and 349 00:16:35,000 --> 00:16:37,000 Speaker 1: how that affects policy, you know, tax policy, just all 350 00:16:37,000 --> 00:16:39,920 Speaker 1: these different things. But what that means though as well, 351 00:16:40,000 --> 00:16:44,040 Speaker 1: is that these nonprofits and sort of charities are marketing 352 00:16:44,680 --> 00:16:47,640 Speaker 1: themselves to people because they're trying to get these big donors, 353 00:16:47,640 --> 00:16:49,240 Speaker 1: and they're trying to appeal to sort of like the 354 00:16:49,240 --> 00:16:51,640 Speaker 1: mass appeal the mass, you know, the whole country, and 355 00:16:51,920 --> 00:16:53,840 Speaker 1: when that's sort of right in front of you as 356 00:16:53,880 --> 00:16:55,600 Speaker 1: as somebody that's looking to give your money away, you 357 00:16:55,640 --> 00:16:58,320 Speaker 1: don't see the immediate need, like you don't see like 358 00:16:58,360 --> 00:17:02,000 Speaker 1: you said, like the local charity, um, something that is 359 00:17:02,120 --> 00:17:03,520 Speaker 1: right in front of you if you were just to 360 00:17:03,720 --> 00:17:06,479 Speaker 1: you know, literally like open your eyes or ask around 361 00:17:06,560 --> 00:17:09,480 Speaker 1: and see what your local needs are. Yeah, So be 362 00:17:09,520 --> 00:17:12,080 Speaker 1: mindful of that because it definitely is trending to where 363 00:17:12,119 --> 00:17:15,520 Speaker 1: these bigger organizations are sort of siphoning and getting all 364 00:17:15,560 --> 00:17:19,680 Speaker 1: the funding, all the donations, where you know, the smaller 365 00:17:19,760 --> 00:17:23,280 Speaker 1: local organization has kind of been suffering over the past 366 00:17:23,320 --> 00:17:25,359 Speaker 1: few years. Yeah, and so I think a benefit to 367 00:17:25,520 --> 00:17:28,159 Speaker 1: Matt is that giving your money away changes you just 368 00:17:28,200 --> 00:17:30,639 Speaker 1: as much, if not more than the people or organization 369 00:17:30,680 --> 00:17:32,880 Speaker 1: that you're giving to. It's really cool if you give 370 00:17:32,880 --> 00:17:35,680 Speaker 1: to a local organization to see your money at work 371 00:17:35,720 --> 00:17:38,320 Speaker 1: and to maybe see people's lives that are changed. Someone 372 00:17:38,680 --> 00:17:41,320 Speaker 1: like I mentioned, you know, a house and disrepair for 373 00:17:41,359 --> 00:17:43,760 Speaker 1: a senior citizen that is able to stay in their 374 00:17:43,800 --> 00:17:45,840 Speaker 1: home because otherwise they would have had to move, they 375 00:17:45,840 --> 00:17:47,639 Speaker 1: would they wouldn't been able to fix up their house 376 00:17:47,760 --> 00:17:49,080 Speaker 1: or they just have to live in a home with 377 00:17:49,200 --> 00:17:51,120 Speaker 1: you know, a messed up roof or something like that. 378 00:17:51,320 --> 00:17:53,800 Speaker 1: That's something that's tangible and you can see. Yeah, I 379 00:17:53,840 --> 00:17:55,159 Speaker 1: mean if you were like, you know, just give the 380 00:17:55,200 --> 00:17:57,280 Speaker 1: Red Cross, Like I don't want to knock Red Cross, 381 00:17:57,320 --> 00:17:59,800 Speaker 1: but like they're great. However, it's hard to see the 382 00:18:00,000 --> 00:18:02,760 Speaker 1: efects of that. And so yeah, if you see the 383 00:18:02,760 --> 00:18:05,400 Speaker 1: physical effect that your money is having, how encouraging is that? 384 00:18:05,480 --> 00:18:06,879 Speaker 1: You know, I mean that if anything that would just 385 00:18:06,960 --> 00:18:09,960 Speaker 1: kind of give someone, if anything that might encourage someone 386 00:18:09,960 --> 00:18:11,520 Speaker 1: to give more, you know, like when you see the 387 00:18:11,520 --> 00:18:14,119 Speaker 1: effects like that, it just has this positive sort of 388 00:18:14,160 --> 00:18:17,560 Speaker 1: reinforcement that hopefully continues the cycle. Yeah, and I think 389 00:18:17,600 --> 00:18:20,240 Speaker 1: ultimately then it has a great effect on you as 390 00:18:20,240 --> 00:18:22,399 Speaker 1: a human giving your money away. So it's cool to 391 00:18:22,400 --> 00:18:24,760 Speaker 1: see the progress, cool to see your money at work, 392 00:18:25,400 --> 00:18:27,879 Speaker 1: where you live, or for a cause that you care 393 00:18:27,920 --> 00:18:30,760 Speaker 1: about greatly. But then on top of that, there's something 394 00:18:30,800 --> 00:18:33,480 Speaker 1: about living life with more of like an open hand 395 00:18:33,840 --> 00:18:37,600 Speaker 1: where you're not holding onto your possessions too tightly or 396 00:18:37,920 --> 00:18:39,800 Speaker 1: just like gripping your money right and not letting go 397 00:18:39,840 --> 00:18:41,960 Speaker 1: of any of it. There is something that changes, like 398 00:18:42,000 --> 00:18:45,639 Speaker 1: in your heart and in your demeanor almost when you 399 00:18:45,800 --> 00:18:49,280 Speaker 1: are freed up to give. The way that you are 400 00:18:49,320 --> 00:18:53,919 Speaker 1: generous with your money, I think actually translates to a 401 00:18:54,000 --> 00:18:57,800 Speaker 1: generosity of spirit that's almost like a felt quality about 402 00:18:57,800 --> 00:19:01,119 Speaker 1: a person too. Uh so, so giving your money away 403 00:19:01,359 --> 00:19:04,639 Speaker 1: translates into the kind of person that you are in life, 404 00:19:05,240 --> 00:19:08,000 Speaker 1: and it has such a freeing effect on your soul 405 00:19:08,240 --> 00:19:10,800 Speaker 1: by deciding to give away a portion of your assets. 406 00:19:11,040 --> 00:19:13,639 Speaker 1: It's hard to explain, right, like it's this this this 407 00:19:13,680 --> 00:19:16,400 Speaker 1: weird and tangible thing. But I think we've all met 408 00:19:16,440 --> 00:19:18,240 Speaker 1: people in our lives, whether it be at work or 409 00:19:18,320 --> 00:19:21,120 Speaker 1: just anywhere where there's something that's just greedy and they're 410 00:19:21,119 --> 00:19:24,520 Speaker 1: just stingy and they just don't they suck, you know. 411 00:19:24,600 --> 00:19:25,960 Speaker 1: It's it's someone that you kind of don't want to 412 00:19:25,960 --> 00:19:28,119 Speaker 1: be around. And that's the way you're what you're kind 413 00:19:28,119 --> 00:19:30,760 Speaker 1: of talking about. It's sort of like that you can't 414 00:19:30,760 --> 00:19:32,840 Speaker 1: put your finger on it, but it's just you can 415 00:19:32,880 --> 00:19:35,320 Speaker 1: just tell that. It's just like, man, why you gotta 416 00:19:35,320 --> 00:19:38,880 Speaker 1: be like that with your charcoal? Joel Well, And it's 417 00:19:38,880 --> 00:19:42,199 Speaker 1: like this thing of like it fabled in books and 418 00:19:42,280 --> 00:19:45,280 Speaker 1: fairy tales, right, I mean, the Grinch and every these 419 00:19:45,280 --> 00:19:49,320 Speaker 1: are screwedge right there these characters that are there no workhouses, 420 00:19:49,400 --> 00:19:52,800 Speaker 1: like I mean, all they're they're these great stories that 421 00:19:53,000 --> 00:19:56,320 Speaker 1: encompass someone's heart that is hard to the plight of 422 00:19:56,359 --> 00:19:58,879 Speaker 1: their fellow man, and then how how they can change. 423 00:19:59,280 --> 00:20:02,080 Speaker 1: And I think some of those stories actually, while probably 424 00:20:02,119 --> 00:20:05,280 Speaker 1: over exaggerated, do kind of give us a window into 425 00:20:05,440 --> 00:20:09,200 Speaker 1: the human heart where if you do view your money 426 00:20:09,200 --> 00:20:12,480 Speaker 1: and humanity in that way, you know you can change 427 00:20:12,560 --> 00:20:16,280 Speaker 1: and you can go from essentially this mindset of scarcity 428 00:20:16,359 --> 00:20:18,679 Speaker 1: where you have to hold on to every dollar that 429 00:20:18,760 --> 00:20:23,560 Speaker 1: you have, to one of generosity, and that's going to 430 00:20:23,640 --> 00:20:26,120 Speaker 1: have an impact on the world around you. But then 431 00:20:27,119 --> 00:20:29,120 Speaker 1: you know, even more so, maybe your heart or girl 432 00:20:29,200 --> 00:20:31,480 Speaker 1: like five sizes like the grunch too, so and and 433 00:20:31,480 --> 00:20:34,000 Speaker 1: and that will have other benefits that are really hard 434 00:20:34,040 --> 00:20:36,480 Speaker 1: to quantify but but are super important. Yeah, and you'll 435 00:20:36,520 --> 00:20:39,400 Speaker 1: certainly see and and sort of the non tangible quality 436 00:20:39,440 --> 00:20:41,919 Speaker 1: of life that you have. Yeah. Yeah, it changes your heart, 437 00:20:41,960 --> 00:20:44,280 Speaker 1: but it also changes your mind. It's got like a 438 00:20:44,280 --> 00:20:47,640 Speaker 1: psychological effect. There have been studies that have shown that 439 00:20:48,400 --> 00:20:51,919 Speaker 1: giving money away leads to essentially like a happiness boost, 440 00:20:52,320 --> 00:20:56,200 Speaker 1: that that giving away your money actually makes you happier. 441 00:20:56,240 --> 00:20:59,280 Speaker 1: And then on top of that, it also oddly enough, 442 00:20:59,359 --> 00:21:04,359 Speaker 1: makes you will richer. There's something psychologically about even if 443 00:21:04,400 --> 00:21:06,560 Speaker 1: we give away like a small portion of what we have, 444 00:21:07,119 --> 00:21:09,919 Speaker 1: it makes us feel like, were like, wow, I've got 445 00:21:10,000 --> 00:21:12,000 Speaker 1: enough money to give to give to this charity or 446 00:21:12,000 --> 00:21:14,960 Speaker 1: that charity, and it actually kind of reinforces the fact 447 00:21:15,040 --> 00:21:17,199 Speaker 1: that we are wealthy. And and if you live in 448 00:21:17,200 --> 00:21:20,160 Speaker 1: America and have a job, like compared to the rest 449 00:21:20,200 --> 00:21:22,840 Speaker 1: of the world, you are wealthy. Man, when I found 450 00:21:22,840 --> 00:21:25,399 Speaker 1: super fascinating about So it's specifically like that about the 451 00:21:25,440 --> 00:21:27,840 Speaker 1: happiness boost, right. The reason we buy things is to 452 00:21:27,920 --> 00:21:30,560 Speaker 1: kind of make us happy. Right, Like you buy a 453 00:21:30,600 --> 00:21:34,480 Speaker 1: shirt and because of that shirt, you're happy, at least 454 00:21:34,520 --> 00:21:36,480 Speaker 1: for a little bit, you're happy. Right then, That's how 455 00:21:36,520 --> 00:21:38,240 Speaker 1: it is with a lot of possessions, a lot of 456 00:21:38,359 --> 00:21:41,240 Speaker 1: stuff that we buy. When you give your money away, 457 00:21:41,320 --> 00:21:43,760 Speaker 1: that also makes you happy, but at a rate much 458 00:21:43,840 --> 00:21:46,480 Speaker 1: higher than where you to just buy this trinket. And 459 00:21:46,560 --> 00:21:49,159 Speaker 1: so in a sort of self serving way, you can 460 00:21:49,160 --> 00:21:51,199 Speaker 1: make yourself happy by giving money away because it's just 461 00:21:51,240 --> 00:21:54,040 Speaker 1: more effective. It's like a more efficient way to make 462 00:21:54,080 --> 00:21:55,960 Speaker 1: your heart glad. And we would argue that it makes 463 00:21:56,000 --> 00:22:00,280 Speaker 1: you better happy, not sort of this superficial on the 464 00:22:00,280 --> 00:22:03,480 Speaker 1: surface I bought this gadget happy, but this sort of 465 00:22:03,520 --> 00:22:06,920 Speaker 1: deep happy that resonates with humanity and with like your 466 00:22:06,960 --> 00:22:11,480 Speaker 1: fellow man, something that's more real than just this thing 467 00:22:11,600 --> 00:22:14,159 Speaker 1: that you bought. And at the same time, you're you're 468 00:22:14,200 --> 00:22:15,960 Speaker 1: spending less to you because like the amount of money 469 00:22:16,000 --> 00:22:17,600 Speaker 1: that you'd have to spend in order to make yourself 470 00:22:17,600 --> 00:22:19,840 Speaker 1: a certain amount of happy, you can spend like five 471 00:22:19,880 --> 00:22:22,080 Speaker 1: times less than that by giving your money away and 472 00:22:22,119 --> 00:22:25,080 Speaker 1: achieving the same happy by making someone's life better. And 473 00:22:25,200 --> 00:22:27,720 Speaker 1: that crazy. It is crazy. And I'll tell you, I 474 00:22:27,720 --> 00:22:30,400 Speaker 1: see this like in my own self, in my own heart, 475 00:22:30,440 --> 00:22:32,480 Speaker 1: and I see it in like the hearts and lives 476 00:22:32,480 --> 00:22:36,280 Speaker 1: of my kids. So there's something about when you receive 477 00:22:36,320 --> 00:22:38,760 Speaker 1: a gift, I feel like you are thankful for it, 478 00:22:38,800 --> 00:22:41,080 Speaker 1: but it's always or when you buy something for yourself, 479 00:22:41,080 --> 00:22:43,920 Speaker 1: there's always like a certain level of disappointment. It never 480 00:22:43,960 --> 00:22:46,840 Speaker 1: seems to kind of hit what you're aiming for, uh. 481 00:22:46,880 --> 00:22:48,600 Speaker 1: And I totally see it in my kids when they 482 00:22:48,640 --> 00:22:52,760 Speaker 1: get gifts. They sometimes end up playing with, you know, 483 00:22:52,840 --> 00:22:57,119 Speaker 1: the box that it came in or classic yeah, or 484 00:22:57,160 --> 00:22:58,919 Speaker 1: discarding it in favor of something that they've had for 485 00:22:58,920 --> 00:23:01,560 Speaker 1: a long time. It's not that they're not appreciative, and 486 00:23:01,600 --> 00:23:03,720 Speaker 1: they they say thank you and they enjoy the gift 487 00:23:03,760 --> 00:23:06,840 Speaker 1: for a while sometimes, But I completely see their hearts 488 00:23:06,880 --> 00:23:11,080 Speaker 1: being totally different when they give something away or when 489 00:23:11,160 --> 00:23:14,640 Speaker 1: they help someone else that doesn't have what they have. 490 00:23:15,040 --> 00:23:18,080 Speaker 1: There there's something long lasting. And it's the same for me. 491 00:23:18,440 --> 00:23:20,920 Speaker 1: When I buy myself something new that I think I want, 492 00:23:21,160 --> 00:23:24,040 Speaker 1: you know, it really only satisfies for a small period 493 00:23:24,080 --> 00:23:27,640 Speaker 1: of time, and that happiness is like tainted with bits 494 00:23:27,680 --> 00:23:30,840 Speaker 1: of guilt, and it really doesn't have the satisfaction that 495 00:23:30,920 --> 00:23:32,960 Speaker 1: I think it's going to when I, you know, click 496 00:23:33,000 --> 00:23:35,640 Speaker 1: to buy online. But then when I do serve someone else, 497 00:23:35,800 --> 00:23:38,399 Speaker 1: when I, you know, spend my time to help a 498 00:23:38,400 --> 00:23:41,560 Speaker 1: fellow human or actually ride a check to an organization 499 00:23:41,680 --> 00:23:44,840 Speaker 1: in my neighborhood, that means a lot to me. Uh. 500 00:23:44,880 --> 00:23:48,440 Speaker 1: There's something that is a lot more long lasting about 501 00:23:48,440 --> 00:23:52,360 Speaker 1: that happiness, uh than just consuming more so, another way 502 00:23:52,359 --> 00:23:54,720 Speaker 1: that it's a benefit man to your wallet is that 503 00:23:55,200 --> 00:23:59,639 Speaker 1: you know, contributions and donations to like nonprofits are tax deductible. 504 00:23:59,720 --> 00:24:01,600 Speaker 1: I don't know a ton about this, I'll be honest, 505 00:24:01,600 --> 00:24:03,600 Speaker 1: because I actually have a c p A. Since I'm 506 00:24:03,640 --> 00:24:06,880 Speaker 1: a small business owner, that's one aspect of the business 507 00:24:06,920 --> 00:24:09,680 Speaker 1: that I've decided to outsource. Can you feel me in then? 508 00:24:09,720 --> 00:24:12,480 Speaker 1: On like the because you've got the new standard deduction, right, yeah, 509 00:24:12,480 --> 00:24:15,840 Speaker 1: So essentially the standard deduction for single individuals and for 510 00:24:15,880 --> 00:24:18,840 Speaker 1: couples was raised, and so there are a lot fewer 511 00:24:18,840 --> 00:24:22,440 Speaker 1: people that will be itemizing on their taxes. And so, 512 00:24:22,880 --> 00:24:25,199 Speaker 1: for instance, right when the tax law got passed, I 513 00:24:25,240 --> 00:24:30,280 Speaker 1: decided to give my contributions to a couple of organizations 514 00:24:30,680 --> 00:24:33,320 Speaker 1: in as opposed to doing it on a monthly basis 515 00:24:33,359 --> 00:24:35,639 Speaker 1: throughout the next year, just so that I would be 516 00:24:35,640 --> 00:24:38,880 Speaker 1: able to claim a higher deduction on that year's taxes. 517 00:24:39,160 --> 00:24:42,760 Speaker 1: And so for some people, the way to combat this 518 00:24:43,200 --> 00:24:47,120 Speaker 1: is to give bigger chunks like every other year. Ultimately, 519 00:24:47,200 --> 00:24:50,159 Speaker 1: this is advice to help you on your taxes, but uh, 520 00:24:50,400 --> 00:24:53,399 Speaker 1: tax strategy, right, yeah, I mean the most important thing 521 00:24:53,440 --> 00:24:54,800 Speaker 1: is to be giving your money away, But if you 522 00:24:54,840 --> 00:24:56,840 Speaker 1: want to do it and reap the most tax savings, 523 00:24:57,200 --> 00:25:01,560 Speaker 1: then consider alternating years in which you give. Just make 524 00:25:01,600 --> 00:25:04,400 Speaker 1: sure it's a part of your budget and that you're 525 00:25:04,440 --> 00:25:06,560 Speaker 1: thinking about it. I know that can kind of almost 526 00:25:06,560 --> 00:25:09,840 Speaker 1: be another excuse not to give so, so don't let 527 00:25:09,880 --> 00:25:11,399 Speaker 1: it be that in your life. But if you do 528 00:25:11,560 --> 00:25:15,000 Speaker 1: want to get the most tax benefit from your gifts, yeah, 529 00:25:15,040 --> 00:25:17,840 Speaker 1: consider doing it like alternating years that you can you know, 530 00:25:17,920 --> 00:25:19,800 Speaker 1: one year take the standard deduction and then the next 531 00:25:19,880 --> 00:25:25,920 Speaker 1: year exceeded based on essentially a higher gotcha, higher gift level. 532 00:25:25,960 --> 00:25:28,120 Speaker 1: Gotcha cool man. So that was some of the benefits 533 00:25:28,119 --> 00:25:30,040 Speaker 1: and hopefully too. When folks read the title of this 534 00:25:30,080 --> 00:25:33,280 Speaker 1: podcast or you know, this episode, they weren't immediately like, oh, 535 00:25:33,520 --> 00:25:35,560 Speaker 1: this is the episode for rich people that are just 536 00:25:35,760 --> 00:25:39,040 Speaker 1: giving their money away to charities and foundations. This is 537 00:25:39,040 --> 00:25:43,399 Speaker 1: a philanthropist episode. Uh, And I mean that's definitely not 538 00:25:43,440 --> 00:25:46,159 Speaker 1: the case for you know, for either of us. We do, 539 00:25:46,280 --> 00:25:49,840 Speaker 1: we know we do intentionally and regularly and actively give 540 00:25:49,840 --> 00:25:51,760 Speaker 1: our money away, but I don't think the total amount 541 00:25:51,800 --> 00:25:55,120 Speaker 1: would blow anyone out of the water. Oh really, Joe, 542 00:25:55,359 --> 00:25:58,600 Speaker 1: you know I give away and twenty K last year. Wow. Uh, 543 00:25:58,840 --> 00:26:02,320 Speaker 1: for surpasses anything that I can even conceive of. Just 544 00:26:02,440 --> 00:26:04,760 Speaker 1: kidding um, But I think a lot of folks might 545 00:26:04,760 --> 00:26:07,760 Speaker 1: be thinking this is all great to hear, but I 546 00:26:07,800 --> 00:26:10,600 Speaker 1: am totally in debt. We're underwater, we're just scraping by 547 00:26:10,760 --> 00:26:13,919 Speaker 1: living paycheck to paycheck, Like what like, we can't do this, 548 00:26:13,960 --> 00:26:15,960 Speaker 1: you know, like what am I supposed to do? And yeah, 549 00:26:16,040 --> 00:26:19,400 Speaker 1: what would you say to folks uh in that situation? Sure, 550 00:26:19,440 --> 00:26:22,160 Speaker 1: I mean I definitely understand that. And there are were 551 00:26:22,200 --> 00:26:24,520 Speaker 1: times in my life where you know, rent was super 552 00:26:24,600 --> 00:26:28,480 Speaker 1: high and I was just starting out in radio and 553 00:26:28,520 --> 00:26:31,040 Speaker 1: I was making very little money. Uh, not that you 554 00:26:31,119 --> 00:26:32,920 Speaker 1: really ever make lots of money in radio, but I 555 00:26:32,960 --> 00:26:37,960 Speaker 1: would tell them to start by donating some of your time. Um, 556 00:26:38,000 --> 00:26:41,120 Speaker 1: whether it is like your local after school kids club 557 00:26:41,119 --> 00:26:44,920 Speaker 1: and you can tutor somebody, whether it is whether it 558 00:26:45,000 --> 00:26:47,600 Speaker 1: is volunteering some time at an old folks home in 559 00:26:47,640 --> 00:26:49,960 Speaker 1: your area and bringing your kids there to play bingo 560 00:26:50,080 --> 00:26:53,879 Speaker 1: and you know, give them some some cheer, or spending time, 561 00:26:53,920 --> 00:26:58,760 Speaker 1: you know, even with a neighbor that is homebound, you know, 562 00:26:58,800 --> 00:27:02,639 Speaker 1: whatever it is. Maybe you're a good cook and you 563 00:27:02,640 --> 00:27:06,080 Speaker 1: can make a meal that's killer for six dollars for 564 00:27:06,200 --> 00:27:08,720 Speaker 1: someone in your church that just had a baby. There 565 00:27:08,720 --> 00:27:11,359 Speaker 1: are so many ways that you can spend your time 566 00:27:11,680 --> 00:27:14,840 Speaker 1: and your talents to help someone out that you know 567 00:27:14,960 --> 00:27:17,720 Speaker 1: that's in need. And so yeah, I would say start 568 00:27:17,920 --> 00:27:20,760 Speaker 1: by volunteering your time and maybe a gift that you have. 569 00:27:21,320 --> 00:27:24,960 Speaker 1: It could be as simple as, you know, mowing someone's lawn. Uh, 570 00:27:25,160 --> 00:27:27,159 Speaker 1: there are lots of ways that you can kind of 571 00:27:27,160 --> 00:27:29,600 Speaker 1: get started in this and then just make sure that 572 00:27:29,640 --> 00:27:31,560 Speaker 1: it's a goal that as your income does start to 573 00:27:31,600 --> 00:27:35,000 Speaker 1: grow and your debts start to decrease, that you would 574 00:27:35,000 --> 00:27:37,520 Speaker 1: prioritize this and um and make sure that it's on 575 00:27:37,520 --> 00:27:40,360 Speaker 1: the front burner as a topic of conversation and as 576 00:27:40,400 --> 00:27:43,400 Speaker 1: something that you're aiming for. And sometimes, you know, giving 577 00:27:43,440 --> 00:27:46,119 Speaker 1: your time might even actually be more difficult, but it 578 00:27:46,160 --> 00:27:49,200 Speaker 1: can definitely be more meaningful, especially if it's something that 579 00:27:49,240 --> 00:27:51,000 Speaker 1: you kind of have a heart for that you care 580 00:27:51,040 --> 00:27:53,400 Speaker 1: more about. So on the flip side of that, though, man, 581 00:27:53,680 --> 00:27:55,760 Speaker 1: I mean, I would even encourage folks to consider even 582 00:27:55,800 --> 00:27:58,679 Speaker 1: if you're not bringing home hardly anything right, like like 583 00:27:58,720 --> 00:28:02,160 Speaker 1: you're living paycheck to paycheck and literally maybe you're only 584 00:28:02,720 --> 00:28:06,440 Speaker 1: setting aside like fifty bucks a month, you know, tops 585 00:28:06,560 --> 00:28:09,560 Speaker 1: or something like that. Instead of thinking, oh, well, I 586 00:28:09,600 --> 00:28:12,080 Speaker 1: can't even fifty bucks is hardly anything, and I need 587 00:28:12,080 --> 00:28:14,760 Speaker 1: that to start paying off my debt or something like that, 588 00:28:15,600 --> 00:28:19,040 Speaker 1: consider a percentage. You know, it might be difficult to say, well, 589 00:28:19,560 --> 00:28:22,520 Speaker 1: five bucks. I mean that's nothing like, like, where is 590 00:28:22,560 --> 00:28:23,840 Speaker 1: that going to get me? If I if I give 591 00:28:23,880 --> 00:28:26,520 Speaker 1: somebody five bucks, Well, just know that it's it's less 592 00:28:26,520 --> 00:28:30,000 Speaker 1: about the five dollars that you're setting aside to give 593 00:28:30,080 --> 00:28:32,960 Speaker 1: to an organization, and instead, what you're working on is 594 00:28:33,000 --> 00:28:35,440 Speaker 1: that is building that muscle. Right, Like, so if you're 595 00:28:35,440 --> 00:28:37,520 Speaker 1: sitting aside five bucks out of your fifty, you know, 596 00:28:37,520 --> 00:28:40,240 Speaker 1: you're sitting aside ten percent, and that's a lot of money. 597 00:28:40,520 --> 00:28:42,960 Speaker 1: You know, if you're stocking away five thousand dollars a month, 598 00:28:43,000 --> 00:28:44,600 Speaker 1: like in a couple of years when you're you know, 599 00:28:44,800 --> 00:28:47,680 Speaker 1: making bank, that's five bucks a month, and that's a 600 00:28:47,920 --> 00:28:50,640 Speaker 1: big amount of money. Like, that's a lot of money 601 00:28:50,840 --> 00:28:53,800 Speaker 1: if you're still sticking with the percentage. And so for 602 00:28:53,840 --> 00:28:56,040 Speaker 1: a lot of folks that maybe are in that situation, 603 00:28:56,080 --> 00:28:58,080 Speaker 1: I would, I mean, I would challenge folks to look 604 00:28:58,120 --> 00:29:00,760 Speaker 1: at a percentage that makes sense for you. And if 605 00:29:00,760 --> 00:29:04,120 Speaker 1: you're making hardly anything at all, that's gonna seem silly 606 00:29:04,160 --> 00:29:06,360 Speaker 1: because it's such a small amount, but that should also 607 00:29:06,400 --> 00:29:09,720 Speaker 1: mean that that's totally doable. And what you're doing then 608 00:29:09,840 --> 00:29:11,920 Speaker 1: is kind of locking into like a rate. You know, 609 00:29:12,000 --> 00:29:14,360 Speaker 1: just like we talked about previously about a savings rate 610 00:29:14,400 --> 00:29:15,920 Speaker 1: and trying to up the amount that you set aside 611 00:29:15,960 --> 00:29:19,280 Speaker 1: for retirement. If you can just stick with a percentage 612 00:29:19,320 --> 00:29:21,920 Speaker 1: and maintain that percentage, then you're gonna be much better, 613 00:29:22,160 --> 00:29:24,360 Speaker 1: you know, at giving your money away down the road 614 00:29:24,360 --> 00:29:26,160 Speaker 1: when you've got a lot more of it because you've 615 00:29:26,160 --> 00:29:28,920 Speaker 1: again you've worked that muscle, and you know you're gonna 616 00:29:28,920 --> 00:29:32,040 Speaker 1: be a pro. Yeah. Completely, There's something about forming a 617 00:29:32,080 --> 00:29:34,280 Speaker 1: habit and sticking to it. It's almost like jumping on 618 00:29:34,320 --> 00:29:36,080 Speaker 1: the bike for the first time. I mean, I remember 619 00:29:36,120 --> 00:29:38,080 Speaker 1: before I bike to work for the first time, I 620 00:29:38,120 --> 00:29:39,840 Speaker 1: had it all built up in my head, like it 621 00:29:39,880 --> 00:29:42,280 Speaker 1: was this scary thing that oh man, it's gonna take 622 00:29:42,280 --> 00:29:43,720 Speaker 1: forever and I'm gonna be all sweaty and it's just 623 00:29:43,760 --> 00:29:46,000 Speaker 1: not gonna be worth it and it's gonna be big pain. 624 00:29:46,200 --> 00:29:48,520 Speaker 1: And bike org has been one of the great joys 625 00:29:48,560 --> 00:29:50,800 Speaker 1: of my life now at this point, and so starting 626 00:29:51,040 --> 00:29:54,000 Speaker 1: there's something to be said for starting getting it rolling. Yeah, 627 00:29:54,280 --> 00:29:56,800 Speaker 1: And so build that habit in your life, whether it 628 00:29:57,040 --> 00:30:00,520 Speaker 1: is yeah, two dollars a week, whatever it is, make 629 00:30:00,640 --> 00:30:03,440 Speaker 1: it something. And I think there too, too, there is 630 00:30:03,480 --> 00:30:07,000 Speaker 1: something about giving to where it impedes your lifestyle to 631 00:30:07,000 --> 00:30:09,880 Speaker 1: a certain degree. There is something meaningful about that and 632 00:30:09,920 --> 00:30:11,640 Speaker 1: saying you know what, it's going to cause me to 633 00:30:11,680 --> 00:30:14,640 Speaker 1: miss out on this, and it makes the giving really 634 00:30:14,800 --> 00:30:18,480 Speaker 1: meaningful and helps you to understand, you know, how important 635 00:30:18,480 --> 00:30:30,280 Speaker 1: it is as a priority in your life. Awesome. So 636 00:30:30,280 --> 00:30:33,000 Speaker 1: we've talked about now why you should be giving. We've 637 00:30:33,000 --> 00:30:35,600 Speaker 1: talked about some of the different benefits that occur when 638 00:30:35,640 --> 00:30:37,280 Speaker 1: you do give your money, and so now we're gonna 639 00:30:37,280 --> 00:30:39,680 Speaker 1: talk about some more practical stuff. Man, how to give, 640 00:30:39,800 --> 00:30:43,040 Speaker 1: How to actually give your money away. So first of all, 641 00:30:43,520 --> 00:30:45,440 Speaker 1: find a cause or charity you know, like we just 642 00:30:45,480 --> 00:30:47,160 Speaker 1: talked about that you really believe in that you can 643 00:30:47,240 --> 00:30:50,840 Speaker 1: kind of get behind something that resonates with sort of 644 00:30:50,880 --> 00:30:53,600 Speaker 1: your life goals, you like, your core values. Because when 645 00:30:53,640 --> 00:30:55,480 Speaker 1: you can give your money to an organization like that, 646 00:30:55,520 --> 00:30:58,680 Speaker 1: you're gonna find it to be so much more fulfilling, right, 647 00:30:58,760 --> 00:31:00,480 Speaker 1: And so the dollar amount doesn't change age Like, you 648 00:31:00,480 --> 00:31:04,320 Speaker 1: can give to any old organization and sure they're gonna 649 00:31:04,360 --> 00:31:06,880 Speaker 1: use your money and it'll be great. Or you can 650 00:31:06,880 --> 00:31:09,040 Speaker 1: give to somebody that you believe in and that you're behind, 651 00:31:09,360 --> 00:31:12,600 Speaker 1: and that's gonna affect you as well. Obviously, and that 652 00:31:12,640 --> 00:31:15,560 Speaker 1: has a big impact on additional giving and the people 653 00:31:15,560 --> 00:31:18,080 Speaker 1: around you and just the sort of person that you are. 654 00:31:18,640 --> 00:31:20,800 Speaker 1: That's definitely something that you want to consider. Yeah, and 655 00:31:20,800 --> 00:31:23,560 Speaker 1: also consider giving of your time and yourself. And we 656 00:31:23,640 --> 00:31:26,400 Speaker 1: mentioned this a little bit, but actually, Matt, what you said, 657 00:31:26,400 --> 00:31:29,640 Speaker 1: I think sometimes it's harder to give your time, it's 658 00:31:29,680 --> 00:31:32,760 Speaker 1: harder to give away bits of yourself in service to 659 00:31:32,800 --> 00:31:35,280 Speaker 1: other people. But I think sometimes that's one of the 660 00:31:35,400 --> 00:31:38,680 Speaker 1: absolute best ways to give, coming into contact with people 661 00:31:38,720 --> 00:31:41,959 Speaker 1: that have a need and caring for them with the 662 00:31:42,000 --> 00:31:43,840 Speaker 1: things that you've been given. That's one of the most 663 00:31:43,840 --> 00:31:46,560 Speaker 1: beautiful ways that you can give. And sometimes, yeah, the 664 00:31:46,600 --> 00:31:49,920 Speaker 1: most difficult, especially for people who do have, you know, 665 00:31:50,040 --> 00:31:52,400 Speaker 1: large amounts of money. It it can be really easy 666 00:31:52,440 --> 00:31:54,880 Speaker 1: to write a check and hard to feel it. And 667 00:31:54,920 --> 00:31:56,880 Speaker 1: so if you feel like that's the case for you, say, 668 00:31:56,960 --> 00:31:58,960 Speaker 1: you know what, I'm giving a lot and ultimately it 669 00:31:59,000 --> 00:32:01,360 Speaker 1: doesn't seem to be resonating moving the needle with me, Well, 670 00:32:01,400 --> 00:32:05,640 Speaker 1: then you're the perfect candidate to spend some time locally 671 00:32:05,720 --> 00:32:09,480 Speaker 1: with the charity, volunteering to keep the books or meeting 672 00:32:09,480 --> 00:32:12,840 Speaker 1: with someone who has a specific need, or tutoring the 673 00:32:12,920 --> 00:32:15,680 Speaker 1: kids right at your local kids club. There are lots 674 00:32:15,800 --> 00:32:19,000 Speaker 1: of places where you know your time could be really useful, 675 00:32:19,400 --> 00:32:21,480 Speaker 1: and that should totally be part of the equation when 676 00:32:21,520 --> 00:32:24,320 Speaker 1: it comes to how you think about giving. Yeah, and 677 00:32:24,360 --> 00:32:26,480 Speaker 1: not to make light of of what you just said, 678 00:32:26,560 --> 00:32:28,880 Speaker 1: but you know, like volunteer, your time doesn't have to 679 00:32:28,920 --> 00:32:31,000 Speaker 1: kind of be this drudgery. It doesn't have to be 680 00:32:31,040 --> 00:32:34,520 Speaker 1: this pain you and I recently volunteered at our local 681 00:32:34,920 --> 00:32:38,160 Speaker 1: beer festival and it's a ton of fun. I mean, 682 00:32:38,200 --> 00:32:39,880 Speaker 1: we have a great time because to hang out with 683 00:32:39,880 --> 00:32:41,800 Speaker 1: a lot of our friends, meet tons of new people, 684 00:32:42,520 --> 00:32:45,520 Speaker 1: and specifically, all the money that the beer fest makes 685 00:32:45,560 --> 00:32:48,680 Speaker 1: goes into the Neighborhood Foundation, which gives tons and tons 686 00:32:48,720 --> 00:32:53,080 Speaker 1: of money away to local neighborhood organizations that that need funding. 687 00:32:53,560 --> 00:32:56,000 Speaker 1: They literally make tens of thousands of dollars, you know, 688 00:32:56,080 --> 00:32:58,920 Speaker 1: every year through that beer fest, and our neighborhood has 689 00:32:58,960 --> 00:33:01,720 Speaker 1: made better because of it, exactly. And so you know, 690 00:33:01,800 --> 00:33:03,560 Speaker 1: I just wanted to mention that too, because it's it 691 00:33:03,600 --> 00:33:05,400 Speaker 1: can be fun. It doesn't have to be this thing 692 00:33:05,400 --> 00:33:08,520 Speaker 1: where you feel like you have to like flagellate yourself 693 00:33:08,560 --> 00:33:11,320 Speaker 1: and like okay, I gotta go like earn my you know, 694 00:33:11,440 --> 00:33:14,240 Speaker 1: earn my time because I'm not donating any money. It's like, well, 695 00:33:14,320 --> 00:33:17,160 Speaker 1: obviously you can give money, but you can donate of 696 00:33:17,240 --> 00:33:19,040 Speaker 1: your time and it can be it can be a 697 00:33:19,040 --> 00:33:20,600 Speaker 1: lot of fun too, And even if it is something 698 00:33:20,600 --> 00:33:22,520 Speaker 1: that's more work, you know, it's something that may not 699 00:33:22,560 --> 00:33:24,840 Speaker 1: seem as glamorous. It kind of comes down to how 700 00:33:24,880 --> 00:33:27,560 Speaker 1: you view it yourself and and sort of the value 701 00:33:27,600 --> 00:33:29,520 Speaker 1: that you place on it. Yeah, and a great place 702 00:33:29,560 --> 00:33:31,600 Speaker 1: to start could be asking, like a good friend, hey, 703 00:33:31,800 --> 00:33:34,360 Speaker 1: where do you volunteer or give your money? Maybe what 704 00:33:34,400 --> 00:33:36,720 Speaker 1: they partake in will resonate with you. I know that 705 00:33:36,760 --> 00:33:39,120 Speaker 1: first step can kind of be daunting sometimes, but that 706 00:33:39,200 --> 00:33:41,400 Speaker 1: might be a good way kind of to get the 707 00:33:41,440 --> 00:33:44,400 Speaker 1: ball rolling. Find out where people that you care about 708 00:33:44,520 --> 00:33:48,160 Speaker 1: and are close to give their time and their money. However, 709 00:33:48,720 --> 00:33:51,080 Speaker 1: don't let that be an excuse to not give, right. 710 00:33:51,120 --> 00:33:53,480 Speaker 1: I mean, I would encourage everyone, even if you're hardly 711 00:33:53,480 --> 00:33:56,160 Speaker 1: not making anything at all, to try to set a 712 00:33:56,160 --> 00:34:00,360 Speaker 1: percentage right and hopefully everyone by then of this podcast yes, 713 00:34:00,720 --> 00:34:03,000 Speaker 1: will be challenged, you know, feel challenged to be giving. 714 00:34:03,840 --> 00:34:05,720 Speaker 1: You know, if not a dollar amount of way a 715 00:34:05,760 --> 00:34:07,720 Speaker 1: percentage a percentage of your income because you know that 716 00:34:07,800 --> 00:34:10,160 Speaker 1: might be a an easier way for you to part 717 00:34:10,160 --> 00:34:13,160 Speaker 1: with your with your money, Yeah, and be picky about 718 00:34:13,160 --> 00:34:16,560 Speaker 1: the charities you choose. There's a great website called charity 719 00:34:16,680 --> 00:34:19,759 Speaker 1: navigator dot com and they do an amazing job of 720 00:34:19,800 --> 00:34:24,080 Speaker 1: helping you understand the transparency and the financial choices of 721 00:34:24,120 --> 00:34:27,560 Speaker 1: the nonprofit before you actually give to them. So, for 722 00:34:27,600 --> 00:34:31,920 Speaker 1: an example, Yeah, if you look up Habitat for Humanity, uh, 723 00:34:32,160 --> 00:34:34,600 Speaker 1: you can see like the exact percentage of the money 724 00:34:34,600 --> 00:34:36,880 Speaker 1: you give that actually kind of goes towards the work 725 00:34:37,160 --> 00:34:40,439 Speaker 1: as opposed to you know, back office and things like that. Uh. 726 00:34:40,480 --> 00:34:42,480 Speaker 1: And there was I assume it's a lot, and it's 727 00:34:42,480 --> 00:34:45,480 Speaker 1: a lot. Yeah, they're great, Yeah for good things about habitats. Yeah, 728 00:34:45,520 --> 00:34:48,839 Speaker 1: I love Habitat and uh. But then there was there 729 00:34:48,840 --> 00:34:50,560 Speaker 1: were a lot of articles, you know a few years 730 00:34:50,560 --> 00:34:55,080 Speaker 1: ago about this uh nonprofit called Wounded Warriors, and it 731 00:34:55,120 --> 00:34:58,080 Speaker 1: was an organization that raised money for veterans that had 732 00:34:58,080 --> 00:35:01,520 Speaker 1: been disabled or wounded in combat. And it turns out 733 00:35:01,560 --> 00:35:03,160 Speaker 1: that a lot of the money that you were giving 734 00:35:03,280 --> 00:35:06,480 Speaker 1: was actually going towards higher up people in the organization, 735 00:35:06,560 --> 00:35:09,799 Speaker 1: staying at fancy hotels, you know, eating fancy dinners, going 736 00:35:09,880 --> 00:35:12,920 Speaker 1: to fancy parties things like that, and so just all 737 00:35:12,960 --> 00:35:17,920 Speaker 1: the fancy stuff stuff. Yeah, and so checking that that 738 00:35:18,040 --> 00:35:21,279 Speaker 1: charity out that you're considering giving to out on a 739 00:35:21,280 --> 00:35:24,439 Speaker 1: website like charity Navigator can kind of really actually help 740 00:35:24,480 --> 00:35:27,800 Speaker 1: you feel good about the transparency level of the organization 741 00:35:27,840 --> 00:35:30,640 Speaker 1: that you're giving to. And especially in times in the 742 00:35:30,640 --> 00:35:34,839 Speaker 1: immediate aftermath of a natural disaster like a hurricane, there 743 00:35:34,840 --> 00:35:37,920 Speaker 1: are all sorts of fake charities that pop up. You'll 744 00:35:37,920 --> 00:35:41,520 Speaker 1: see Facebook ads are getting email to donate and sometimes 745 00:35:41,560 --> 00:35:44,200 Speaker 1: there's you know, one word off in the name of 746 00:35:44,200 --> 00:35:46,799 Speaker 1: the charity, and so checking them out on a site 747 00:35:46,800 --> 00:35:48,879 Speaker 1: like charity Navigator can help you know too that you're 748 00:35:48,880 --> 00:35:51,759 Speaker 1: not giving to a scammy organization. Yeah, and you know 749 00:35:51,800 --> 00:35:53,319 Speaker 1: we're cheap, like we don't. I don't like to pay 750 00:35:53,440 --> 00:35:55,720 Speaker 1: fees when it comes, you know, to someone to manage 751 00:35:55,760 --> 00:35:57,319 Speaker 1: my money. I don't like to pay more than I 752 00:35:57,320 --> 00:35:59,440 Speaker 1: need to for pretty much anything. And so when I'm 753 00:35:59,480 --> 00:36:01,840 Speaker 1: giving my money to a charity, I wanted to be 754 00:36:01,920 --> 00:36:04,439 Speaker 1: the exact same thing, and you want it to be effective. Yeah, 755 00:36:04,440 --> 00:36:07,200 Speaker 1: I wanted to be effective giving effective use of those funds, 756 00:36:07,200 --> 00:36:09,160 Speaker 1: and so I want to donate to the Vanguard of 757 00:36:09,239 --> 00:36:13,120 Speaker 1: charities exactly until like a charity like Habitat pretty much 758 00:36:13,160 --> 00:36:16,160 Speaker 1: is that. And there are other organizations that very much 759 00:36:16,200 --> 00:36:18,080 Speaker 1: fall into that vein. But then there are other ones 760 00:36:18,080 --> 00:36:19,680 Speaker 1: where you know, there's a lot of overheads, a little 761 00:36:19,719 --> 00:36:23,480 Speaker 1: more expensive and not nearly as much money of yours 762 00:36:23,560 --> 00:36:25,640 Speaker 1: is going to help the people that are actually in 763 00:36:25,719 --> 00:36:28,200 Speaker 1: need as you would hope would be edi. That's a 764 00:36:28,200 --> 00:36:30,719 Speaker 1: good tip. And something else too is to put it 765 00:36:30,760 --> 00:36:33,040 Speaker 1: in your budget. Right, So, if you're going to start 766 00:36:33,120 --> 00:36:36,160 Speaker 1: giving your money away, put it in your budget and 767 00:36:36,200 --> 00:36:38,680 Speaker 1: stick to it. If you're not used to giving, it's 768 00:36:38,719 --> 00:36:41,359 Speaker 1: probably not going to come natural to you to give 769 00:36:41,400 --> 00:36:43,480 Speaker 1: a portion of your paycheck away every month or every 770 00:36:43,480 --> 00:36:45,840 Speaker 1: two weeks. So what you need to do then is 771 00:36:45,880 --> 00:36:48,440 Speaker 1: the plan for it. And don't let giving be an 772 00:36:48,440 --> 00:36:51,240 Speaker 1: excuse to why you're you know, now overspending and blowing 773 00:36:51,239 --> 00:36:53,840 Speaker 1: your budget. It's now needs to be a part of 774 00:36:53,880 --> 00:36:56,799 Speaker 1: your budget. And this is also a way that kind 775 00:36:56,840 --> 00:36:59,920 Speaker 1: of eases some guilt. And if you are actively give 776 00:37:00,080 --> 00:37:02,200 Speaker 1: your money away, right, like, if you have every month 777 00:37:02,239 --> 00:37:04,120 Speaker 1: you know that you're going to set aside, you know, 778 00:37:04,239 --> 00:37:06,440 Speaker 1: X number of dollars or a percentage of your income 779 00:37:06,440 --> 00:37:11,279 Speaker 1: to go towards a charity, whether that's predecided or if 780 00:37:11,320 --> 00:37:12,879 Speaker 1: you kind of like to wing it right, if if 781 00:37:12,960 --> 00:37:15,680 Speaker 1: you kind of are waiting for opportunities to come up. 782 00:37:16,400 --> 00:37:19,200 Speaker 1: This is the perfect way for you to know that 783 00:37:19,280 --> 00:37:22,920 Speaker 1: you are helping people, right, that you are giving money away, um, 784 00:37:22,960 --> 00:37:25,799 Speaker 1: while at the same time not feeling like you're being 785 00:37:25,840 --> 00:37:28,800 Speaker 1: guilted into it. And I'll tell you too from personal experience, 786 00:37:29,239 --> 00:37:33,120 Speaker 1: like setting a line item for giving money away is 787 00:37:33,120 --> 00:37:35,920 Speaker 1: that it's just fun. The way Kitt and I view 788 00:37:35,920 --> 00:37:38,640 Speaker 1: our budget is that once we've decided that that's what 789 00:37:38,680 --> 00:37:41,240 Speaker 1: that line item is, like, we almost have to force 790 00:37:41,239 --> 00:37:44,400 Speaker 1: ourselves to to reach that amount. Right. For some things 791 00:37:44,440 --> 00:37:47,680 Speaker 1: that's not difficult, right, like going out to eat, we 792 00:37:47,719 --> 00:37:51,080 Speaker 1: almost always hit that budgeted amount um. But the same 793 00:37:51,080 --> 00:37:53,799 Speaker 1: thing sort of applies for giving your money away if 794 00:37:53,840 --> 00:37:57,120 Speaker 1: you've decided on a certain dollar amount. So if you've 795 00:37:57,200 --> 00:38:00,759 Speaker 1: underspent or you know, under gifted that category, if you're 796 00:38:00,760 --> 00:38:02,359 Speaker 1: getting towards the end of the month, man, you can 797 00:38:02,520 --> 00:38:05,319 Speaker 1: really look for ways to give that money away, which 798 00:38:05,360 --> 00:38:07,120 Speaker 1: is kind of crazy, Like that's just sort of this 799 00:38:07,200 --> 00:38:09,480 Speaker 1: weird position that it kind of puts you in, and 800 00:38:09,520 --> 00:38:11,440 Speaker 1: I think that should for most folks give you a 801 00:38:11,480 --> 00:38:14,600 Speaker 1: lot of joy. We found joy in that definitely in 802 00:38:14,640 --> 00:38:17,080 Speaker 1: the past. At this point, we're kind of like always 803 00:38:17,160 --> 00:38:20,880 Speaker 1: hitting the max. We're all we're like almost always almost 804 00:38:20,920 --> 00:38:23,799 Speaker 1: going over our budgeted amount. But and obviously you don't 805 00:38:23,840 --> 00:38:25,640 Speaker 1: have to spend all that if if you're if you've 806 00:38:25,640 --> 00:38:27,160 Speaker 1: got some left over for that month, just roll that 807 00:38:27,200 --> 00:38:29,279 Speaker 1: over into next month, because there might be another opportunity 808 00:38:29,400 --> 00:38:31,960 Speaker 1: that that shows up and it might be over your 809 00:38:31,960 --> 00:38:34,360 Speaker 1: typical amount, and so you know, be wise with your money. 810 00:38:34,600 --> 00:38:38,240 Speaker 1: But yeah, that's so important for us, is to actually 811 00:38:38,320 --> 00:38:41,000 Speaker 1: set a dollar amount that is our goal that we're 812 00:38:41,000 --> 00:38:43,279 Speaker 1: trying to hit every month to give our money away. Yeah. 813 00:38:43,320 --> 00:38:45,240 Speaker 1: I love your approach, Matt. I mean, I love how 814 00:38:45,600 --> 00:38:48,600 Speaker 1: that's sort of thinking about putting it into your budget 815 00:38:48,880 --> 00:38:51,719 Speaker 1: and then the fact that your budget ultimately reflects, you know, 816 00:38:51,800 --> 00:38:53,360 Speaker 1: the things that you care about, the things that that 817 00:38:53,400 --> 00:38:55,759 Speaker 1: bring you joy, and then being a part of those 818 00:38:55,760 --> 00:38:59,240 Speaker 1: nonprofits you know, where you give your money actually seems 819 00:38:59,280 --> 00:39:02,680 Speaker 1: to in my mind, with that mindset, bring you more joy. 820 00:39:02,719 --> 00:39:06,640 Speaker 1: And I personally love getting emails, you know, hearing back 821 00:39:06,680 --> 00:39:08,839 Speaker 1: from people that I know the work for those nonprofits 822 00:39:08,880 --> 00:39:11,279 Speaker 1: that we give money to, and being involved in them 823 00:39:11,280 --> 00:39:14,279 Speaker 1: and hearing the stories of what's actually happening. There's so 824 00:39:14,400 --> 00:39:17,520 Speaker 1: much joy that's brought to my life based on, you know, 825 00:39:18,200 --> 00:39:21,200 Speaker 1: the amount of money I'm able to give every month. Uh, 826 00:39:21,200 --> 00:39:24,080 Speaker 1: and then and then hearing what's actually happening with those funds. 827 00:39:24,360 --> 00:39:26,640 Speaker 1: There's something really cool about that. And if and if 828 00:39:26,680 --> 00:39:29,640 Speaker 1: it wasn't budgeted, if it wasn't set, if it wasn't 829 00:39:29,640 --> 00:39:32,799 Speaker 1: baked into the cake every month of what I'm giving away, Uh, 830 00:39:32,960 --> 00:39:36,279 Speaker 1: it would be really easy for me to decide, Yeah, 831 00:39:36,320 --> 00:39:38,239 Speaker 1: I'm not gonna give this month, I'm not going to 832 00:39:38,320 --> 00:39:40,640 Speaker 1: give next month, and and just kind of continue on 833 00:39:40,680 --> 00:39:43,120 Speaker 1: in the pattern. Um and and so, Yeah, putting it 834 00:39:43,160 --> 00:39:46,680 Speaker 1: in the budget, you know, has this double effect of 835 00:39:47,040 --> 00:39:49,520 Speaker 1: kind of ensuring that you actually do it and then 836 00:39:49,840 --> 00:39:52,920 Speaker 1: you know, reflecting those places that you do prioritize. I mean, 837 00:39:52,960 --> 00:39:56,040 Speaker 1: it's actually becomes like a joyous thing when you do that. Yeah. Well, 838 00:39:56,040 --> 00:39:58,160 Speaker 1: and even like a third prong then too, is that 839 00:39:58,239 --> 00:40:00,680 Speaker 1: it allows you to do those things and to have 840 00:40:00,760 --> 00:40:03,239 Speaker 1: that joy while at the same time not wrecking your 841 00:40:03,280 --> 00:40:05,759 Speaker 1: goal your financial goals, right, Like, it's not like this 842 00:40:05,800 --> 00:40:08,359 Speaker 1: budget buster that just showed up because you didn't plan 843 00:40:08,480 --> 00:40:10,239 Speaker 1: for it. I think a lot of people will think 844 00:40:10,280 --> 00:40:12,640 Speaker 1: that this feels a little too stiff, if you know, 845 00:40:12,719 --> 00:40:15,280 Speaker 1: to say, oh, you need to set a line item 846 00:40:15,320 --> 00:40:17,720 Speaker 1: every month, like you must give this amount of money away. 847 00:40:17,719 --> 00:40:20,799 Speaker 1: You know, it doesn't feel natural and giving and and 848 00:40:20,800 --> 00:40:23,040 Speaker 1: and from the heart. I mean, our lives are complicated 849 00:40:23,040 --> 00:40:25,280 Speaker 1: in our finances. There's just a lot of moving pieces. 850 00:40:25,760 --> 00:40:27,759 Speaker 1: And if something were to come along and if you 851 00:40:27,760 --> 00:40:29,680 Speaker 1: didn't have that money set aside, well, if you were 852 00:40:29,719 --> 00:40:32,000 Speaker 1: to respond to that, you know, out of the kindness 853 00:40:32,000 --> 00:40:33,919 Speaker 1: of your heart, you know, out of generosity, like from 854 00:40:33,920 --> 00:40:37,640 Speaker 1: a place of of of trueness, then it might blow 855 00:40:37,640 --> 00:40:39,359 Speaker 1: your budget for that month, you know. And then there's 856 00:40:39,360 --> 00:40:41,440 Speaker 1: other financial goals that you're not able to achieve that 857 00:40:41,520 --> 00:40:43,719 Speaker 1: you know, you also want to achieve. It's just kind 858 00:40:43,719 --> 00:40:46,680 Speaker 1: of going into it with a plan and being prepared 859 00:40:46,719 --> 00:40:49,319 Speaker 1: for it too, you know, yeah, completely, And I wanted 860 00:40:49,360 --> 00:40:52,480 Speaker 1: to quickly mention also another how to give is you 861 00:40:52,520 --> 00:40:55,319 Speaker 1: can give through something called a donor advised funds. So 862 00:40:55,600 --> 00:40:59,239 Speaker 1: that's that'll be more on the philanthropy episode, right Well, yeah, 863 00:40:59,239 --> 00:41:00,880 Speaker 1: I mean it actually in a lot of ways, it 864 00:41:00,960 --> 00:41:03,879 Speaker 1: is kind of more people with big bucks doing things, 865 00:41:03,920 --> 00:41:06,120 Speaker 1: but there's actually a lot of benefit that you can 866 00:41:06,160 --> 00:41:09,440 Speaker 1: get as a small giver as well having a donor 867 00:41:09,480 --> 00:41:11,960 Speaker 1: advice fund. And so actually the credit card that I 868 00:41:12,000 --> 00:41:14,000 Speaker 1: think I mentioned that I use all the time in 869 00:41:14,200 --> 00:41:16,959 Speaker 1: using credit cards like a pro is a fidelity credit 870 00:41:16,960 --> 00:41:19,000 Speaker 1: card that gives me two percent cash back on everything 871 00:41:19,000 --> 00:41:21,600 Speaker 1: I spend. And so over the years, you know, I'm 872 00:41:21,680 --> 00:41:24,280 Speaker 1: racking up a fairly substantial amount of points that allows 873 00:41:24,320 --> 00:41:27,920 Speaker 1: me to open up a fidelity account, of multiple different 874 00:41:27,920 --> 00:41:30,040 Speaker 1: types of fidelity accounts that I can open, and one 875 00:41:30,080 --> 00:41:32,799 Speaker 1: of those types is a donor advised fund. And so 876 00:41:32,880 --> 00:41:35,359 Speaker 1: the cool thing about donor advised funds is that they 877 00:41:35,400 --> 00:41:39,880 Speaker 1: allow the donor themselves to make a charitable contribution to 878 00:41:39,960 --> 00:41:43,440 Speaker 1: receive that immediate tax benefit that year, but then actually 879 00:41:43,520 --> 00:41:48,759 Speaker 1: disperse those funds in different amounts to different organizations over 880 00:41:49,640 --> 00:41:51,960 Speaker 1: a variety of years. Yeah, so you can kind of 881 00:41:51,960 --> 00:41:55,360 Speaker 1: watch it grow. Uh, you've kind of taken that initial deduction, 882 00:41:55,640 --> 00:41:57,400 Speaker 1: but then you can watch it grow and decide how 883 00:41:57,480 --> 00:41:59,320 Speaker 1: much you want to give away you know, this month, 884 00:41:59,440 --> 00:42:02,360 Speaker 1: next month, you know, five years from now. So that 885 00:42:02,440 --> 00:42:05,160 Speaker 1: kind of too could also help alleviate some of that, 886 00:42:05,239 --> 00:42:07,479 Speaker 1: you know, budget busting. If you have like a donor 887 00:42:07,520 --> 00:42:10,600 Speaker 1: advice fund, a small one set up, and you have 888 00:42:10,719 --> 00:42:13,040 Speaker 1: this maybe monthly amount that you give, but then you 889 00:42:13,080 --> 00:42:15,239 Speaker 1: ship away and kind of put a little bit here 890 00:42:15,239 --> 00:42:17,200 Speaker 1: and there. Yeah, and then but then, but then, let's 891 00:42:17,200 --> 00:42:19,880 Speaker 1: say you get like a bigger request from a charity 892 00:42:19,920 --> 00:42:21,680 Speaker 1: and you see the need and you feel like you 893 00:42:21,719 --> 00:42:24,200 Speaker 1: really do need to put your money to work for 894 00:42:24,400 --> 00:42:26,560 Speaker 1: that charity. You know that donor advice fund can be 895 00:42:26,560 --> 00:42:29,840 Speaker 1: that perfect opportunity for you to give of some additional 896 00:42:29,920 --> 00:42:32,719 Speaker 1: dollars um that you kind of have in reserve. And 897 00:42:32,760 --> 00:42:35,360 Speaker 1: so it's it's it's kind of a cool tool that 898 00:42:35,440 --> 00:42:38,360 Speaker 1: you can use and and hopefully to you know, in 899 00:42:38,480 --> 00:42:41,680 Speaker 1: donor advice funds, often in your money is invested and 900 00:42:41,719 --> 00:42:44,399 Speaker 1: so hopefully it's also growing at a bigger clip than 901 00:42:44,440 --> 00:42:46,919 Speaker 1: just the money that's sitting in your savings account. Yeah, 902 00:42:46,920 --> 00:42:48,920 Speaker 1: which is definitely great. And something to keep in mind 903 00:42:48,960 --> 00:42:51,520 Speaker 1: too with donor advised funds is that once you donate 904 00:42:51,560 --> 00:42:54,479 Speaker 1: to those funds, it's gone right like, like, you can't 905 00:42:54,560 --> 00:42:56,640 Speaker 1: you can't withdraw that money back into you know, your 906 00:42:56,680 --> 00:42:58,880 Speaker 1: regular savings account or something like that. Oh wait, I 907 00:42:58,920 --> 00:43:02,480 Speaker 1: need it, Nope, Nope, that money is then earmarked for giving. 908 00:43:02,920 --> 00:43:05,640 Speaker 1: Exactly the way that the government sees that money is 909 00:43:05,640 --> 00:43:07,759 Speaker 1: that once it goes into that fund, it is at 910 00:43:07,760 --> 00:43:10,479 Speaker 1: that point charitable giving and it can't it can't go back, 911 00:43:10,680 --> 00:43:12,600 Speaker 1: like it can grow in your account there, but at 912 00:43:12,640 --> 00:43:17,919 Speaker 1: some point you're going to have to gladly hopefully donate that. Yeah, 913 00:43:17,920 --> 00:43:20,239 Speaker 1: so if you're interested in opening one, look at the 914 00:43:20,280 --> 00:43:23,160 Speaker 1: specific rules of the company where you might consider opening 915 00:43:23,200 --> 00:43:25,799 Speaker 1: a donor advice fund. But they are definitely a good 916 00:43:25,800 --> 00:43:28,440 Speaker 1: option for people looking for kind of outside of the 917 00:43:28,480 --> 00:43:31,440 Speaker 1: box ways to give a little bit more. Here specifically too, 918 00:43:31,440 --> 00:43:34,000 Speaker 1: it's it's a great way for big earners to offset 919 00:43:34,040 --> 00:43:36,920 Speaker 1: their income, right so, like so it's definitely for doctors 920 00:43:37,000 --> 00:43:40,320 Speaker 1: and and folks that have very high incomes. If you're 921 00:43:40,320 --> 00:43:44,120 Speaker 1: looking for ways to minimize your tax burden, that's one 922 00:43:44,120 --> 00:43:45,560 Speaker 1: of the strategies, you know. And this kind of it 923 00:43:45,600 --> 00:43:48,560 Speaker 1: seems kind of cold hearted. I guess, like it's like, oh, 924 00:43:48,600 --> 00:43:50,200 Speaker 1: this is one way that I can reduce how much 925 00:43:50,200 --> 00:43:52,279 Speaker 1: I give the government is to give to charity, and 926 00:43:52,320 --> 00:43:54,000 Speaker 1: it feels like the heart isn't in it. I guess 927 00:43:54,000 --> 00:43:57,080 Speaker 1: as much. But like we said before, you want your 928 00:43:57,080 --> 00:43:58,640 Speaker 1: money to go as far as you can get it 929 00:43:58,680 --> 00:44:00,080 Speaker 1: to go, and so this is one of them are 930 00:44:00,239 --> 00:44:03,080 Speaker 1: ways that you can reduce your tax burden while at 931 00:44:03,080 --> 00:44:04,880 Speaker 1: the same time maximizing the amount of money that you 932 00:44:04,880 --> 00:44:07,200 Speaker 1: can give to charities. Well, and speaking of doctors, our 933 00:44:07,320 --> 00:44:11,440 Speaker 1: friend Physician on Fire has a great article about donor 934 00:44:11,520 --> 00:44:13,080 Speaker 1: vice funds, and so we'll link to that in the 935 00:44:13,080 --> 00:44:15,160 Speaker 1: show notes as well. Something I want to ask you 936 00:44:15,239 --> 00:44:18,799 Speaker 1: is what are your thoughts on auto enrolling versus like 937 00:44:18,880 --> 00:44:22,640 Speaker 1: manually having to give to like different charities or whatever 938 00:44:22,640 --> 00:44:24,920 Speaker 1: it is that that you do every month. And before 939 00:44:24,920 --> 00:44:27,520 Speaker 1: you answer, the reason I asked us is because I 940 00:44:27,560 --> 00:44:30,839 Speaker 1: thought back to the episode we did on like ways 941 00:44:30,880 --> 00:44:34,200 Speaker 1: to cut your monthly bills right, and you had specifically 942 00:44:34,239 --> 00:44:38,120 Speaker 1: mentioned how you like to with some bills at least 943 00:44:38,680 --> 00:44:40,359 Speaker 1: not put it on auto pay, so that you kind 944 00:44:40,400 --> 00:44:42,879 Speaker 1: of had to manually go in and pay it every month, 945 00:44:42,920 --> 00:44:45,080 Speaker 1: so that you would feel it right these here you 946 00:44:45,120 --> 00:44:47,719 Speaker 1: feel where I'm going, No, I completely, I completely feel 947 00:44:47,719 --> 00:44:50,000 Speaker 1: it where you're going. And honestly, when you ask the question, 948 00:44:50,080 --> 00:44:54,560 Speaker 1: that's exactly where and so you know me too well, Doc, 949 00:44:55,480 --> 00:45:00,440 Speaker 1: I think there's a huge benefit in doing something physical 950 00:45:00,719 --> 00:45:03,919 Speaker 1: right where you actually pay a bill and you kind 951 00:45:03,920 --> 00:45:06,759 Speaker 1: of feel the money a little bit more than you 952 00:45:06,800 --> 00:45:09,960 Speaker 1: auto pay, and you're you know, finally reconciling at the 953 00:45:10,040 --> 00:45:12,319 Speaker 1: end of the month versus being like this data point 954 00:45:12,320 --> 00:45:14,400 Speaker 1: that just shows up and yeah, okay, that's so like 955 00:45:14,520 --> 00:45:17,000 Speaker 1: actually taking the time to even if it's not writing 956 00:45:17,000 --> 00:45:19,840 Speaker 1: a physical check, right, but actually on the keyboard typing 957 00:45:19,840 --> 00:45:22,680 Speaker 1: it in right. Yeah, there's something to that. I think 958 00:45:22,880 --> 00:45:25,279 Speaker 1: the same is true forgiving, because I feel that in 959 00:45:25,320 --> 00:45:30,040 Speaker 1: myself there are some elements of some of the charities 960 00:45:30,080 --> 00:45:32,239 Speaker 1: that I give to that are kind of set up 961 00:45:32,280 --> 00:45:34,880 Speaker 1: on automatic withdrawal, and I don't feel it in the 962 00:45:34,920 --> 00:45:37,319 Speaker 1: same way. I guess, you know, I get the you know, 963 00:45:37,360 --> 00:45:39,680 Speaker 1: an email or a newsletter or an update or something 964 00:45:39,719 --> 00:45:41,680 Speaker 1: like that, and so that's kind of the time that 965 00:45:41,719 --> 00:45:44,239 Speaker 1: I spend thinking about where my money is going, but 966 00:45:44,360 --> 00:45:47,400 Speaker 1: I don't feel it when i'm actually, you know, specifically 967 00:45:47,440 --> 00:45:50,640 Speaker 1: donating the money. And so I think that, again can 968 00:45:50,680 --> 00:45:52,680 Speaker 1: be up to the individual, but I do see in 969 00:45:52,719 --> 00:45:55,239 Speaker 1: my life how setting up some of those automatic withdrawals 970 00:45:55,640 --> 00:45:59,239 Speaker 1: has actually led to me thinking less about it, and 971 00:45:59,239 --> 00:46:01,680 Speaker 1: I do think there's a a huge benefit to actually 972 00:46:01,719 --> 00:46:04,680 Speaker 1: thinking about it and being, you know, act an active 973 00:46:04,719 --> 00:46:08,239 Speaker 1: participant in the actual, you know, physical tangible act of 974 00:46:08,320 --> 00:46:11,279 Speaker 1: writing the check or or just typing in the credit 975 00:46:11,320 --> 00:46:14,640 Speaker 1: card information online. Yeah, man, I mean I would totally agree, right. 976 00:46:14,719 --> 00:46:17,279 Speaker 1: I do think though that the sort of the auto draft, right, 977 00:46:17,320 --> 00:46:19,120 Speaker 1: and it's kind of setting it up on the recurring 978 00:46:19,160 --> 00:46:22,360 Speaker 1: thing might be really helpful for folks who are looking 979 00:46:22,400 --> 00:46:24,840 Speaker 1: to kind of get started and giving. So it's a tool, 980 00:46:25,280 --> 00:46:26,520 Speaker 1: you know, I kind of see it that way, like 981 00:46:26,560 --> 00:46:28,120 Speaker 1: it's it's a way for folks to kind of get 982 00:46:28,200 --> 00:46:29,960 Speaker 1: you on a plan. It kind of signs you up 983 00:46:29,960 --> 00:46:31,840 Speaker 1: and you're on it for the next you know, however long. 984 00:46:32,239 --> 00:46:34,000 Speaker 1: But you know, like I think for a lot of folks, 985 00:46:34,080 --> 00:46:36,359 Speaker 1: that might be if you're used to that, and if 986 00:46:36,360 --> 00:46:38,120 Speaker 1: you've been on that sort of treadmill, like you're on 987 00:46:38,160 --> 00:46:40,200 Speaker 1: that cycle for a while, and and like Joel said, 988 00:46:40,320 --> 00:46:42,080 Speaker 1: if you're not feeling it as much, or you don't 989 00:46:42,120 --> 00:46:45,200 Speaker 1: find yourself like thinking about it at all until you 990 00:46:45,239 --> 00:46:47,520 Speaker 1: get like the tax document at the end of the year, 991 00:46:47,600 --> 00:46:49,560 Speaker 1: if that's like the only time that you think about it, 992 00:46:50,000 --> 00:46:51,719 Speaker 1: then maybe at that point it is a good time 993 00:46:51,760 --> 00:46:54,640 Speaker 1: for you to take it off the auto draft and 994 00:46:55,080 --> 00:46:56,640 Speaker 1: have it set up to where you have to manually 995 00:46:56,680 --> 00:46:58,959 Speaker 1: do it yourself, because you know, like, yeah, you're gonna 996 00:46:59,000 --> 00:47:00,520 Speaker 1: think about it more. If you're sing it and you're 997 00:47:00,560 --> 00:47:03,040 Speaker 1: thinking about it and it's in more of your day 998 00:47:03,040 --> 00:47:05,480 Speaker 1: to day life, it's going to be something that has 999 00:47:05,520 --> 00:47:08,879 Speaker 1: a larger impact on you personally. At the same time, 1000 00:47:08,920 --> 00:47:10,680 Speaker 1: while I say that, though, I don't want to discourage 1001 00:47:10,680 --> 00:47:14,200 Speaker 1: people from agreeing to uh support some cause and not 1002 00:47:14,280 --> 00:47:16,600 Speaker 1: doing auto draft, because if you know that that's how 1003 00:47:16,840 --> 00:47:19,120 Speaker 1: you're going to get on board and continue to pay 1004 00:47:19,160 --> 00:47:20,880 Speaker 1: for the next twelve months, well then do it. You know. 1005 00:47:20,880 --> 00:47:22,440 Speaker 1: It's almost like a gym membership, Like a lot of 1006 00:47:22,440 --> 00:47:25,200 Speaker 1: times people join the gym because they know that, well, 1007 00:47:25,239 --> 00:47:27,120 Speaker 1: if I don't do this, I'm not gonna go like 1008 00:47:27,160 --> 00:47:29,399 Speaker 1: if I don't join this program, if I don't sign up, 1009 00:47:29,400 --> 00:47:31,839 Speaker 1: if I don't do this, then I'm not gonna do it. 1010 00:47:32,120 --> 00:47:34,319 Speaker 1: And you definitely don't want that as well, because the 1011 00:47:34,360 --> 00:47:36,200 Speaker 1: ultimate goal here in the end is to give your 1012 00:47:36,200 --> 00:47:38,759 Speaker 1: money away, hey, and to actually help people, And so 1013 00:47:39,000 --> 00:47:41,840 Speaker 1: don't let that be a hindrance from you to actually 1014 00:47:41,840 --> 00:47:44,160 Speaker 1: helping people and making the world a better place. Yeah, 1015 00:47:44,200 --> 00:47:46,120 Speaker 1: sometimes for me, when it comes to that dilemma, the 1016 00:47:46,120 --> 00:47:48,600 Speaker 1: best way to do it is to set up a 1017 00:47:48,640 --> 00:47:52,200 Speaker 1: calendar reminder. It gives me that ability to think about 1018 00:47:52,239 --> 00:47:55,319 Speaker 1: where my money is going to quickly hop on and 1019 00:47:55,360 --> 00:47:58,960 Speaker 1: make the donation, you know, on that monthly basis, and 1020 00:47:59,520 --> 00:48:01,480 Speaker 1: that gives me kind of the best of both worlds 1021 00:48:01,520 --> 00:48:05,200 Speaker 1: where it is almost recurring, but it actually also takes 1022 00:48:05,239 --> 00:48:07,560 Speaker 1: a little bit of thoughts. So maybe a calendar reminder 1023 00:48:07,760 --> 00:48:10,839 Speaker 1: is that that happy medium for you as opposed to 1024 00:48:10,880 --> 00:48:13,400 Speaker 1: that direct a c H or direct bill pay you know, 1025 00:48:13,440 --> 00:48:15,799 Speaker 1: actually gives you that tangible time to think about where 1026 00:48:15,800 --> 00:48:19,120 Speaker 1: your money is going and reflect on it. Back to 1027 00:48:19,160 --> 00:48:22,480 Speaker 1: the beer real quick. I really enjoyed Russian River consecration. Man, 1028 00:48:22,520 --> 00:48:24,440 Speaker 1: it's a blast from the past that we brought back tonight. 1029 00:48:24,680 --> 00:48:27,000 Speaker 1: It's someunny that you mentioned blast in the past. I 1030 00:48:27,080 --> 00:48:29,319 Speaker 1: was actually listening to a beer podcast because I'm a 1031 00:48:29,360 --> 00:48:32,480 Speaker 1: nerd and they're talking about just all the new breweries 1032 00:48:32,520 --> 00:48:36,400 Speaker 1: and how the guy the host was asking another, you know, 1033 00:48:36,600 --> 00:48:40,399 Speaker 1: somewhat newer brewer what they thought about Russian River because 1034 00:48:40,400 --> 00:48:43,080 Speaker 1: there were someone like the original pioneers when it came 1035 00:48:43,120 --> 00:48:45,040 Speaker 1: to some of the new styles and definitely with sours 1036 00:48:45,040 --> 00:48:47,440 Speaker 1: and barrel aging, and he's just like, you know, do 1037 00:48:47,480 --> 00:48:50,279 Speaker 1: you think that people will forget about Russian River? And 1038 00:48:50,280 --> 00:48:52,520 Speaker 1: the guy that he was interviewing was just like, no way, 1039 00:48:52,960 --> 00:48:55,080 Speaker 1: Like they're they were just such pioneers, Like there's no 1040 00:48:55,160 --> 00:48:58,200 Speaker 1: way that that folks would forget about them. And I 1041 00:48:58,200 --> 00:49:00,320 Speaker 1: feel the same way, you know, at least for us suthenly, 1042 00:49:00,600 --> 00:49:03,960 Speaker 1: with it being one of the first amazing, world class 1043 00:49:04,040 --> 00:49:07,080 Speaker 1: like barrel aged hours that we'd had. Like when he 1044 00:49:07,120 --> 00:49:08,440 Speaker 1: when he said that, I was just like, WHOA what 1045 00:49:08,480 --> 00:49:10,839 Speaker 1: kind of world do we live in that he thinks 1046 00:49:10,840 --> 00:49:14,160 Speaker 1: that Russian River may not be relevant anyone. Yeah, I'm 1047 00:49:14,200 --> 00:49:16,319 Speaker 1: completely still pumped to see this show up, you know, 1048 00:49:16,360 --> 00:49:18,880 Speaker 1: in a package on my doorstep. And thanks again to 1049 00:49:18,920 --> 00:49:22,440 Speaker 1: Carl who runs the website days dot com and if 1050 00:49:22,480 --> 00:49:24,200 Speaker 1: you care about the topics we talk about, you're really 1051 00:49:24,200 --> 00:49:26,680 Speaker 1: like his site. But yeah, this is such a good 1052 00:49:26,680 --> 00:49:28,799 Speaker 1: beer and all the beers honestly that I've had from 1053 00:49:28,880 --> 00:49:32,480 Speaker 1: Russian River have been eight plus. Man, They're like super good. 1054 00:49:32,520 --> 00:49:34,600 Speaker 1: I would love Have you ever been out there? No? 1055 00:49:34,760 --> 00:49:36,880 Speaker 1: I would love to visit. Let's do it. We need 1056 00:49:36,920 --> 00:49:38,960 Speaker 1: to take a porn u poor trip out there. Yeah, 1057 00:49:39,040 --> 00:49:42,360 Speaker 1: we do alright, man, time for a recap? How to 1058 00:49:42,360 --> 00:49:44,600 Speaker 1: give your money away right now. You might feel like 1059 00:49:44,640 --> 00:49:46,520 Speaker 1: that you don't have the margin in your in your life. 1060 00:49:46,520 --> 00:49:48,160 Speaker 1: You may not feel like that you're in the financial 1061 00:49:48,160 --> 00:49:50,680 Speaker 1: position to where you can give your money away, to 1062 00:49:50,680 --> 00:49:52,719 Speaker 1: where you can give to charity, and to that we 1063 00:49:52,719 --> 00:49:55,120 Speaker 1: would say, no, you need to start giving now, because 1064 00:49:55,160 --> 00:49:57,600 Speaker 1: what it does is it starts creating that habit. It 1065 00:49:57,680 --> 00:50:01,279 Speaker 1: starts allowing you to build that muscle of giving money away. 1066 00:50:01,400 --> 00:50:03,080 Speaker 1: So when you have a lot of money, guess what, 1067 00:50:03,160 --> 00:50:04,640 Speaker 1: It's not going to be any easier to get that 1068 00:50:04,680 --> 00:50:06,960 Speaker 1: money away when it's a huge dollar amount. It's it's 1069 00:50:06,960 --> 00:50:09,200 Speaker 1: if anything, it's gonna be harder. And so you want 1070 00:50:09,239 --> 00:50:12,759 Speaker 1: to get into that habit of being generous and being charitable. Yeah, 1071 00:50:12,840 --> 00:50:16,640 Speaker 1: and giving your money away changes you. It lessens your 1072 00:50:16,680 --> 00:50:20,200 Speaker 1: attachment to money. And that's actually a good thing, I think, 1073 00:50:20,320 --> 00:50:23,040 Speaker 1: especially as people that are frugal want to say for 1074 00:50:23,080 --> 00:50:25,480 Speaker 1: the future, that think about you know where their money 1075 00:50:25,560 --> 00:50:28,160 Speaker 1: goes often, you know, and if you're listening to this podcast, 1076 00:50:28,160 --> 00:50:30,399 Speaker 1: you're probably one of those people. It can be hard 1077 00:50:30,440 --> 00:50:32,839 Speaker 1: to give your money away. And so I think it's 1078 00:50:32,840 --> 00:50:35,920 Speaker 1: really important because it changes your heart and it changes 1079 00:50:35,960 --> 00:50:38,160 Speaker 1: the way that you view money in a really positive way. 1080 00:50:38,560 --> 00:50:40,480 Speaker 1: That's right. And and for those folks out there to 1081 00:50:40,600 --> 00:50:43,560 Speaker 1: who really literally don't have any money that then give away, 1082 00:50:43,840 --> 00:50:46,719 Speaker 1: consider volunteering your time. There's a lot of organizations that 1083 00:50:46,840 --> 00:50:50,600 Speaker 1: need people more than they need money, And with our 1084 00:50:50,680 --> 00:50:54,160 Speaker 1: lives becoming more and more busy, time is becoming more 1085 00:50:54,160 --> 00:50:56,120 Speaker 1: and more valuable. So yeah, that might be something that 1086 00:50:56,200 --> 00:50:59,400 Speaker 1: you have that you can give away. Yeah, and be 1087 00:50:59,560 --> 00:51:02,040 Speaker 1: picky about the charities that you choose to give to. 1088 00:51:02,320 --> 00:51:05,600 Speaker 1: Charity Navigator is an awesome site. They do an amazing 1089 00:51:05,680 --> 00:51:08,399 Speaker 1: job of helping you understand where the money that you're 1090 00:51:08,440 --> 00:51:12,719 Speaker 1: giving is actually going. They kind of hold these nonprofits 1091 00:51:12,719 --> 00:51:16,760 Speaker 1: feet to the fire and will help you understand whether 1092 00:51:17,120 --> 00:51:20,360 Speaker 1: your money is going through overhead or actually going to 1093 00:51:21,280 --> 00:51:24,799 Speaker 1: the people and the places that you wire money to 1094 00:51:24,840 --> 00:51:29,479 Speaker 1: go to for maximum effect. Great tip, Joel. And then lastly, uh, 1095 00:51:29,719 --> 00:51:32,680 Speaker 1: be sure to budget the amount of money that you 1096 00:51:32,719 --> 00:51:36,320 Speaker 1: want to give away every month. It might seem stiff 1097 00:51:36,360 --> 00:51:38,600 Speaker 1: and you know, kind of overly formal to do that, 1098 00:51:38,640 --> 00:51:41,279 Speaker 1: but like you don't have to decide exactly where that 1099 00:51:41,280 --> 00:51:43,480 Speaker 1: money is going to go per se every month, just 1100 00:51:43,600 --> 00:51:46,120 Speaker 1: decide that you're going to give a certain amount at 1101 00:51:46,200 --> 00:51:49,400 Speaker 1: least every month, and you need a plan for it. 1102 00:51:49,440 --> 00:51:51,120 Speaker 1: You need to have a plan. You need to make 1103 00:51:51,160 --> 00:51:53,520 Speaker 1: that part of your life. Anything that's worth doing right, 1104 00:51:53,600 --> 00:51:56,160 Speaker 1: anything that you are trying to achieve or that's a 1105 00:51:56,160 --> 00:51:59,439 Speaker 1: goal for you, you plan for it. And so, uh, 1106 00:51:59,480 --> 00:52:01,640 Speaker 1: you know, giving your money away should be no different. 1107 00:52:01,920 --> 00:52:03,239 Speaker 1: If you want to do it, make sure you plan 1108 00:52:03,360 --> 00:52:05,400 Speaker 1: for it so it doesn't blow your budget and so 1109 00:52:05,480 --> 00:52:07,840 Speaker 1: that you can go into it with more intention and 1110 00:52:07,880 --> 00:52:11,000 Speaker 1: so that gives you the ability to give proactively versus 1111 00:52:11,160 --> 00:52:14,640 Speaker 1: reactively with guilt, no doubt. So thanks for listening everyone, 1112 00:52:14,760 --> 00:52:17,080 Speaker 1: or home on the web is how to money dot com. 1113 00:52:17,080 --> 00:52:19,200 Speaker 1: We'll have show notes up there for this episode, and 1114 00:52:19,239 --> 00:52:21,239 Speaker 1: if you like what you hear, let us know. You 1115 00:52:21,239 --> 00:52:24,879 Speaker 1: can review and subscribe on Apple Podcasts, which, by the way, 1116 00:52:24,920 --> 00:52:28,040 Speaker 1: we're almost hitting the three digit mark on the ratings 1117 00:52:28,080 --> 00:52:31,440 Speaker 1: and reviews, which is pretty sweet. Yeah, man, you're getting 1118 00:52:31,440 --> 00:52:34,160 Speaker 1: getting to be pretty legit. Thanks to everyone who writes 1119 00:52:34,200 --> 00:52:37,359 Speaker 1: a review for this podcast. We appreciate that, cool man. 1120 00:52:37,440 --> 00:52:40,200 Speaker 1: So that's it. Best friends out, Best Friends Out Man