My son came home from school with an urgent request: We must go to Toys R Us now before the store closes. He doesn’t understand why the retailer is going out of business — only that the toys will soon disappear. My son’s plea taught me about the psychology of spending: Sometimes we make financial decisions that lack rationale, but they make perfect sense in the moment. It’s only when we question our own motivations that we make better money moves.
Radical generosity is a journey that starts with small steps, and I don’t want to ever make it feel impossible. It’s an attainable personal finance goal, regardless of income, but it requires vision and an intentional approach to budgeting that creates room for increasing levels of giving over time. Here’s how you can make room for charitable giving in your budget and climb the ladder of generosity.
The first time my son asked whether we’re rich, my wife and I sheepishly deflected it and mumbled something about being middle class. But I felt guilty about that answer, like we were lying. At that moment, I realized that we are rich. And we need to own that. The next time he asked, I confessed: “Yes, son. We are rich.” It’s not a lesson most parents would teach their children, but it’s an important confession that will impart financial wisdom that lasts a lifetime.
