8 Reasons Generosity Can Make You Wealthy, According to George Kamel
Money expert George Kamel recently shared a video on his YouTube channel discussing the benefits of generosity. As he put it, “The most fun you can have with money is by giving it away.”
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But can giving your money away actually make you rich? According to science, yes. Here are eight of the most compelling points Kamel discussed in his video that show how generosity can make you wealthy.
Also see six moves you should make before giving money to charity.
It’s Good for Your Brain
One of the first points Kamel brought up is that generosity has extensive health benefits. Acts of charity release dopamine and oxytocin in the brain, hormones that contribute to your well-being.
While a healthy brain doesn’t directly make you rich, it can mean lower healthcare costs, less stress and more creativity — things that are good for your wallet in the long run.
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It Makes You Live Longer
For the same reasons mentioned above, generosity can extend your life span. It triggers positive hormones that lower blood pressure and reduce stress. According to Vail Health, these impacts are similar to the longevity-boosting impacts of a healthy diet and regular exercise.
It Benefits Those Around You
Whatever you give, you get back in turn. Supporting those around you, either through financial donations or acts of service, can help you build a strong social network and make connections in your field.
Or, as Kamel put it, generous people are fun to be around. A likable, generous personality can help you accelerate on your career path and ensure you’ll have the support you need during hard times.
It Promotes Planning and Intentionality
Managing your wealth takes careful planning. When you incorporate regular donations into your budget, you learn to plan and spend intentionally, which can make you a better investor.
“The same planning it takes to be able to give generously also helps with investing regularly and is a huge motivation for investing for some folks,” Kamel noted in the video.
It Increases Contentment
Ever heard the saying “Money can’t buy happiness”? As it turns out, the opposite might be true — happiness can help you earn more money. A study from the University of Warwick shows that happiness makes people around 12% more productive.
Getting those happy hormones flowing will boost your productivity and help you climb the ladder in your career field or work harder on your investments.
It Shifts Your Mentality
Generosity helps you shift from a scarcity to an abundance mentality. In other words, giving can make you realize how much you have, opening your mind to new opportunities for growth.
It Makes You a Problem Solver
In his video, Kamel shared a conversation he had with Harvard professor Arthur Brooks, who stated, “The more you give to charity, the richer you get.” His research shows that for every dollar a person gives away, they get around $1.60 back on average.
Brooks explained that charitable people are more likely to become effective problem solvers. Giving money away is a form of problem-solving — taking action rather than stressing over a problem — that makes you a more effective worker and investor in the long run.
Money Is Like Candles, Not Cake
Kamel shared a video clip of Dave Ramsey, in which he discussed that wealth is not like a cake. It’s not a finite supply that will run out if you give too much away. Rather, it’s like a flame — you can use it to ignite other candles around you without dimming your own light.
Your wealth can continue to grow, maybe even more so, when you strategically give some of it away.
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This article originally appeared on GOBankingRates.com: 8 Reasons Generosity Can Make You Wealthy, According to George Kamel
