Poor Give More

Ocean Springs The poor are more generous that the rich, and in fact the poorer you are, the more likely a larger portion of your income is given to others. For the poor experience drives empathy and action. For the rich it turns out that talk is in fact cheap.

Quoting from Frank Greve of the McClatchy chain in an article recently entitled, “America’s Poor are its Most Generous Givers,”

“The lowest-income fifth (of the population) always give at more than their capacity,” said Virginia Hodgkinson, former vice president for research at Independent Sector, a Washington-based association of major nonprofit agencies. “The next two-fifths give at capacity, and those above that are capable of giving two or three times more than they give.”

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Money Guard

New Orleans        A colleague forwarded me an interesting “citizen wealth” us-money-photostrategy for lower income families to protect small resources:  having a “money guard.”  The P2P Foundation (peer to peer) included a piece on their website with the following story:

Money guarding: “If you get a fairly decent chunk of money, you give it to a money guard, a neighbor or relative or friend that you trust and say, “Hold this, and don’t let me touch it.” Sometimes the same money guard asks you to hold their money, and so when someone comes to borrow money, you say, “It’s not my money.” It works.”
What a good idea, huh?  This strategy came from interviews in South Africa among lower income families, but it might work everywhere.