“A man there was, tho’ some did count him mad, the more he cast away, the more he had.” This is a quote from John Bunyan’s The Pilgrim’s Progress. The character Gaius solves the riddle thus: “He that bestows his Goods upon the Poor Shall have as much again, and ten times more.”

Do you think that giving makes you richer? Studies show that people who give charitably make more money than those who don’t and not because they have money to give, but because giving encourages receiving. When people see you giving, they want to give to you.

According to The Giving U.S.A. Foundation it estimated “that Americans donated nearly $300 billion to charity in 2006.” This figure doesn’t surprise me, as a nation we are a giving people, especially when it comes to responding to disaster.

I do think we expect those who are doing well financially to give a lot and often. On two personal finance blogs that I read, one blogger ‘seemed’ to pass judgment on an episode of Oprah’s Big Giveaway for promoting handing out “plastic toys” to a group of kids instead of doing something that would have lasting benefit.

Another blogger wrote a post about a governor who made almost $300,000 in 2007, but reported less than $200.00 on his tax return. The governor’s character and priorities were questioned and his donations were used as a comparison to their own or someone else’s giving. When I make charitable donations throughout the year I never claim them as deductions on my taxes. I never give to charity just to get a tax deduction but I’m also not giving thousands of dollars.

It’s been my personal experience that when I give to someone in need or donate to a charity, I get back what I just gave if not more. I’m not sure how much richer I am, but it does make me a lot happier.

How do you feel about giving, do you think it makes you richer?