Exploring the Law of Reciprocity: Is Giving Money the Key to Receiving?
What increases our dopamine levels? First, let's understand what dopamine is. Are you
familiar with oxytocin, serotonin, and endorphins? These are the hormones that make us
feel happy and influence our emotions. For example, when we help someone, these
hormones create a sense of excitement and motivate us to continue doing good deeds,
which brings us a sense of peace and satisfaction.
We all strive to be wealthy and live life on our own terms. However, the mistake we often make is hoarding money instead of giving it. We often hear the saying, "Karma is a boomerang; what you give is what you receive, and what you sow is what you reap." This concept applies not just to life in general, but to our financial lives as well!
This concept suggests that when you give, especially in terms of money, you can receive more in return.
How you spend your money shapes your financial destiny. However, many people believe that giving money away is not a wise choice and adopt a stingy, Scrooge-like mindset when it comes to finances. But the truth is, when you are willing to give, you often receive more than you ever expected.
What makes you knowledgeable and financially free? Is it academic knowledge?
Having a strong academic background may provide valuable information, but it doesn't necessarily lead to financial freedom. Academic knowledge focuses on theoretical concepts and may not directly contribute to wealth accumulation or financial intelligence.
Most of the time, we succeed in making money but fail in managing it properly. Even if you have a high level of financial intelligence but lack emotional intelligence, it's as if you have no financial intelligence at all. This imbalance can lead to nonsensical decisions regarding your finances.
When you effectively balance both financial and emotional intelligence, you grasp the core concept of achieving financial freedom. While the law of attraction is widely discussed in social media and books these days, are you familiar with the law of reciprocity?
The law of reciprocity is similar to how a rubber ball behaves: when you throw a rubber ball forcefully against a wall, it bounces back with an equal amount of force. Similarly, what we give to others will eventually come back to us in same form.
Whatever we give to others, whether it's love, care, hate, or jealousy, will come back to us in a similar, and often even better, way.
This principle also applies to finances! When we invest our money wisely, it can yield lucrative profits. Similarly, when we donate money to charities, it can reward us mentally and financially in various ways.
First and foremost, our mental health is crucial. When we help others, our bodies release endorphins, which bring feelings of satisfaction and gratitude . Additionally, there are financial benefits such as tax deductions and estate planning advantages.
According to Section 80G of the Income Tax Act, 1961, people can get tax deductions on charitable donations under certain conditions in India. Even though India doesn't have inheritance taxes, giving to charities can still be a smart move in planning your estate. It not only provides tax advantages but also allows you to leave a meaningful impact on society.
Let's consider giving money instead of storing it away. Prepare to open your mind to empathy, embrace philanthropy, and develop your financial acumen by gaining insights and enhancing your financial intelligence.
