M
Mountain Mike
Guest
Giving to Charity??
I’m a newbie here, so please don’t flame if this topic has already been discussed at length. I was approached recently by a charity who offered the convenience of donating using my VISA card. Most people think of credit cards as “money,” but I know they are actually a loan, which led me to my question: Can you justify giving away money borrowed money?
I have the goal to retire early, but I still have a modest mortgage, plus a small amount remaining on an auto loan. The car will be paid off in May, and the home is scheduled to be paid off before I retire.
I give a certain amount each month to a church and a couple of other good causes. While they are worthy recipients of money, does it really make economic sense to give money away when one has an outstanding loan? In essence, it seems that I am borrowing money to give away that I could be using to pay down my debts quicker. Shouldn’t you only give away money when you first do not owe any? Is it mean-spirited to view things this way?
Giving to a church could be viewed as a sacrifice, or obedience to God, but I do not see how you could construe giving to the local SPCA in the same way. I know the Bible talks about giving that has been interpreted in various ways about giving, but it also says “the poor will always be with you.” In other words, it is impossible for a person to try to solve all the world’s problems.
So, I am back to the question: can a person with FIRE as a goal justify giving away money when they have outstanding loans?
Regards,
Mike
I’m a newbie here, so please don’t flame if this topic has already been discussed at length. I was approached recently by a charity who offered the convenience of donating using my VISA card. Most people think of credit cards as “money,” but I know they are actually a loan, which led me to my question: Can you justify giving away money borrowed money?
I have the goal to retire early, but I still have a modest mortgage, plus a small amount remaining on an auto loan. The car will be paid off in May, and the home is scheduled to be paid off before I retire.
I give a certain amount each month to a church and a couple of other good causes. While they are worthy recipients of money, does it really make economic sense to give money away when one has an outstanding loan? In essence, it seems that I am borrowing money to give away that I could be using to pay down my debts quicker. Shouldn’t you only give away money when you first do not owe any? Is it mean-spirited to view things this way?
Giving to a church could be viewed as a sacrifice, or obedience to God, but I do not see how you could construe giving to the local SPCA in the same way. I know the Bible talks about giving that has been interpreted in various ways about giving, but it also says “the poor will always be with you.” In other words, it is impossible for a person to try to solve all the world’s problems.
So, I am back to the question: can a person with FIRE as a goal justify giving away money when they have outstanding loans?
Regards,
Mike