Episode 860 Knowing What You Give Has Value
[00:00:00] Scott Maderer: [00:00:00] Thanks for joining me on episode 860 of the inspired stewardship podcast.
[00:00:06] Cassidy Cash: [00:00:06] Hey, there I'm Cassidy Cash. The host of that Shakespeare life. If you'd like to impact the world one day like Shakespeare, one way to do that is listening to this it's inspired stewardship podcast with my friend, Scott Maderer .
[00:00:18] Scott Maderer: [00:00:18] and that's because of these emotional returns that we get on our investment too. It's because the way that it makes you feel the way that it helps your spirit heal the way that it helps your heart change into a giving minded heart.
[00:00:34]Welcome and thank you for joining us on the inspired stewardship podcast. If you truly desire to become the person who God wants you to be, then you must learn to use your time, your talent and your treasures for your true calling in the inspired stewardship podcast. We'll learn to invest in yourself, invest in others and develop your influence so that you can impact [00:01:00] the world.
[00:01:01]In today's episode about investing in yourself through stewarding your treasures. I talk with you about how we often worry about our giving of money and whether or not it has a return on investment. I share why there are different types of ROI to concern yourself with. And I also share why sometimes just giving is okay.
[00:01:22] As we talk about stewarding your treasures. Wouldn't it be great. If you could support this podcast and do it without costing yourself an extra dime, it turns out you can. All you have to do is use inspired stewardship.com/amazon. When you're ready to make a purchase via Amazon and a small commission, we'll come back to support the show.
[00:01:44] If you enjoy the show, when you're ready to buy from Amazon, just use inspired stewardship.com/amazon. When it comes to money. One of the things we often talk about when we're talking about investing or investing in ourselves as the [00:02:00] ROI, the return on investment, and more often than not, when people talk about ROI, they're talking about one.
[00:02:06] Specific thing they're talking about a monetary return. In other words, if I invest something at an earns, a certain amount of interest, how much money do I make over time? Does my money grow? Does it grow faster than inflation? Does it grow at a certain rate? This is the ROI that you always hear people talking about.
[00:02:27] And don't get me wrong. This ROI is important. It is something that you want to think about when you're thinking about saving or investing money or putting money away for the future. You definitely want to think about the monetary ROI. What is my return on my investment from a money perspective, but you also want to think about other kinds of ROI because the truth is there's other kinds of return on investment, as well as an example.
[00:02:55] Paying down on debt or paying down on your house mortgage might give you [00:03:00] peace of mind, ROI. It might give you an emotional ROI that helps you relax and sleep at night. Having a, an emergency fund set aside in a bank account. Usually doesn't earn you much money in terms of the money ROI, but it may earn you the chance to sleep at night and relax and feel secure.
[00:03:23] So there's an emotional ROIs for different kinds of money investment. And here I'm not talking investment in the technical sense of investing money in like a stock market or the real estate or some other form of investing for the future. I'm literally talking about anything we do with money, including spending it, even spending it creates different kinds of return on that money.
[00:03:50] This is why some people will go through what we call retail therapy, where, because they're depressed because they're upset because they're not feeling well. They go out and they spend large [00:04:00] amounts of money because it somehow makes them feel better. It makes them feel more comfortable. It makes them feel more worthy.
[00:04:07] It makes them feel safer, secure, whatever it is, it gives them an emotional boost. And that emotional boost is enough that they consider that. A worthy return on spending that money. I realize too, that this is very personal different people have different kinds of emotional returns on different kinds of spending on different kinds of saving.
[00:04:34] If you're in a relationship with your spouse, you may have two different wirings when it comes to what you want out of your money. One of you may want to travel while the other one wants to. Invest for the future and save that way. And each of you gets an emotional return on your investment, but because they're different, it can lead to disagreements.
[00:04:56] It can lead to fights. It's important to [00:05:00] understand that the way we feel about money is equal in importance to any sort of quote math about money. In fact, I would argue that it's often more important because even with the regular math ROI, if you're investing a certain way and then you feel unsafe and unsecure.
[00:05:20] And so now you pull the money out of the investment and then you're trying to put money back in and you're doing all sorts of. Tap dances that both has an emotional toll in terms of time and energy, but it also has oftentimes a way of affecting your return on investment. There are studies that show that our behavior determines much more about how we have money when we retire than the actual kinds of investments that we invest in because there's behavior that's driven by emotion that affects the mathematical return as well.
[00:05:56] And the truth is too. I want to think about the fact that [00:06:00] oftentimes not getting any sort of return, just giving forgiving sake can also be okay. There's a return sometimes for just giving, because you can give giving because you feel like you're called to giving because you see someone else in need.
[00:06:19] You see someone else with more need than yours and you feel called to give in some way it could be spontaneous acts like tipping, someone extra or paying for someone's meal or paying for the person behind you in line at Starbucks, it could be something that's driven by charity giving to a homeless person or giving to a food bank or another organized charity that you feel called to give.
[00:06:46] And those returns that you get, there are definitely not monetary. You don't get back. Even if you get a tax deduction and a write-off and all of these things, it's not enough to make it money. Makes [00:07:00] sense. In terms of the return you get. But it's okay to just give, because you feel called to give as well.
[00:07:08] It's even okay. To sometimes be giving in a way that doesn't seem logical or doesn't seem like there's any sort of mathematical return. And that's because of these emotional returns. That we get on our investment too. It's because the way that it makes you feel the way that it helps your spirit heal the way that it helps your heart change into a giving minded heart, the way that it helps you focus on others and their needs, instead of the things that are going on in your own life can all bring great benefits.
[00:07:39] Both psychologically. And in the long-term often monetarily in ways that we don't see initially. So when you're thinking about giving, when you're thinking about spending, when you're thinking about saving, think about what are the returns that you're getting, are those returns in alignment with your values and your priorities?
[00:07:59] And if [00:08:00] they're not, what can you do to change your behavior and focus on getting the right returns on your investment? Thanks for listening.
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