I’m a member of the “sandwich generation” – one of those women still raising kids but taking care of parents. Recently I had the occasion to be in a doctor’s office while my dad was having a procedure and that gave me the chance to pick up the May issue of Essence magazine. I was initially drawn to the cover story on First Lady Michelle Obama and her mom Marian Robinson. That was a wonderful article to read, and of course the pictures were a treat.  But what really made me think was the “money makeover” article toward the back of the issue.  And here’s what got my attention.  I’ve read a lot of money advice columns in my time, but this was the first where there was an explicit recognition that giving back is part of the financial equation we all should consider.  How many pie graphs have I seen that neatly lay out a budget among categories for housing, clothing, utilities, transportation, taxes, savings, etc.?  This was the first financial planning chart I’ve ever seen that had a slice for “tithes and offerings.”  While I might not give that particular label to the slice myself the point struck home – giving back is an important part of our financial lives and we should have a target in our plans for how we’ll do it.  Now to be sure, many people give back through volunteerism, and that means there’s no dollar amount coming out of your budget each month.  On the other hand, it’s pretty easy to talk a good game about giving back and somehow never make the time or manage to write the check.  So, I encourage you to actively plan for how you will give back.  In this economically challenging environment, non-profit organizations providing services in our communities and around the globe — educating today’s and tomorrow’s leaders, keeping individuals healthy, feeding minds and spirits, reaching out to the needy, developing innovations to improve our world – need our attention, energy and  financial contributions more than ever.   So set a goal for your slice in the pie, and make it a part of your regular action plan.  Just imagine if all the financial planners in the world started adding that idea to the standard advice they give?   

Submitted by: Nan Langowitz