Lynne Rosenthal wrote a story for Women’s enews describing her evolution as a donor; she gave $1,000,000 to the Ms. Foundation because she was passionate not only about the causes the foundation supports but also the way it provides funding.  She wrote that it is:

“…a philanthropy that is horizontal and democratic, not vertical and hierarchical…. it is a culture that is just and right and that creates lasting social change.”

We may not have the largess that Lynn has, but we can still benefit from her story and her philosophy of giving.

• Give as much as you can as often as you can. 
  Lynn got started with a $25 donation.
• Be thoughtful - and selective - about the charities you support.
  Take a good look at how the money you give will be used; check to be sure that the charity is real and that a decent percentage of the money you give will reach the people you want to help. 
• Keep track of your donations.
  It’ll make things a lot easier when tax time rolls around if you have good records to document your donations.

You don’t have to give a million to feel like a million when you support causes close to your heart.   As Maya Angelou said, ” I have found that among its other benefits, giving liberates the soul of the giver.”

TAGS: charity. philanthropy, contributions to women, living a rich life, support, taxes, Women and Aging

If you don’t have all the money you need to live your life the way you want, free from concerns about money (my definition of rich) it could be that you’re suffering from one of the following personality traits that aren’t fatal, but are flaws. 

The Hoarder

The good news is that hoarders actually save money, but they don’t invest it or take the time to build budgets that would help them to enjoy their money.  They’re so afraid of becoming bag ladies, they stash away money without thinking about how investing could yield substantially more wealth.  Similarly, they won’t buy things that would allow them to enjoy life a little more because they see it as frivolous or themselves as undeserving.  Whatever the reasons, The Hoarder isn’t living a rich life, even if her bank account says that she can.

The Ostrich

The Ostrich would rather not know how much money she has – or doesn’t have.  As long as there are checks in her checkbook she doesn’t even THINK about money.  She doesn’t keep tabs on bank statements or investments, nor does she take the time to learn about how she could live a richer life by managing her assets better.  She often lives paycheck-to-paycheck, content with knowing she has enough to make it through another month.

The Spender

Money burns a hole in the pocket of The Spender.  Sometimes it’s money she has and sometimes it’s money she gets from various sources of credit – often putting her into deep debt.  The Spender may be exhibiting compulsive behavior. Psychological help could be needed to assist her with diminishing the compulsive spending. Although on the surface it appears that The Spender is leading a rich life, when you scratch below she may not have a liquid nickel to her name and be in for a huge change in lifestyle if she loses her job or when she gets ready to retire.

The Abdicator

At least The Abdicator has the wisdom to get someone to help her manage her money. The bad news is that she turns over full responsibility to that person and rarely checks on how her money is doing.  The Abdicator may hire a professional financial advisor or just turn her money over to a spouse or significant other.  Once she does, however, she washes her hands of it and expects someone else to look out for her best interests.  Once she does look into how her money is doing, it’s often too late – she finds she’s been taken advantage of by either unscrupulous or well-meaning but ineffective advisors. 

The Do-Gooder

Money means little to The Do-Gooder other than having enough of it to loan or give away to people in need.  She may have learned in childhood that “money can’t make you happy” or think that giving away money makes people like her.  In either case, she sees little value in accumulating it.  The Do-Gooder often ignores my maxim, “You can simultaneously do good and do well.”

TAGS: living a rich life, nice girls don't get rich, personality types, Women and Money