Giving Flashcards
forms of giving
Being kind to another, knowledge, money, skill, talent, items
Healthy giving
giving out of excess in your life
Healthy giving
when you want to give back or pay it forward and the result is positive emotions
Unhealthy giving
does not enhance the well being of both the receiver and giver
unhealthy giving
when giving is a method of gaining power over another
How do you prepare for giving
create a spending plan; evaluate needs, wants, and values; assess your time, plan for expenses, such as Christmas gifts; avoid using credit for giving
what are money management tools?
statement of financial position, income and expense statement, spending plan
What other factors should be considered when deciding what and how to give to others?
values, money, time, needs, wants, finances
how are financial statements related to giving?
assess the overall financial position to evaluate pros and cons of giving. creates a plan for special events that involve giving
How does earning relate to giving?
Choose a career that can help you meet your giving goals, a career choice could be an ultimate form of giving, be grateful to those that have given to your growth of human capital
how does savings and investing relate to giving?
emergency savings should be established prior to giving, savings and investing are valuables avenues to give
how does risk management relate to giving
ensure you have planned for life events and accounted for such expenses prior to giving
WHAT IS A LIVING WILL?
It is a medical document that tells doctors and family members what kind of care you want if you become incapacitated and cannot express wishes.
WHAT IS THE DIFFERENCE BETWEEN A WILL AND A LIVING REVOCABLE TRUST?
A will designates where your assets go upon death. But sometimes you need someone to make these decisions when you get sick. This is why you need a living revocable trust.
WHAT IS A HOLOGRAPHIC WILL?
A holographic will is one you write with your own hand.
