Multiplying with Money
How good are you with money? Before you read on, take a moment to notice what sorts of things come up for you as you ponder this question. For many, the way that we answer this question has to do with things like how well we budget, how much we save, or how good the returns on our investments are; but what if we were to take this question even more radically? What if we examined how good we are at doing good with our money?
New Polity’s series, Good Money, dives into this question in an episode titled A Third Rule for Money and Beneficence. It turns out that there are all sorts of frequently neglected virtues that are associated with money and its use—beneficence, liberality, almsgiving, and magnificence, to name a few.
Beneficence is the virtue that allows us to use our money for the good of others. The etymology of the word is bene-facere, literally meaning to do good. It seems to me that we don’t often think of money in these terms. Notice that the things listed above, like how much we save or the returns on our investments, are not ordered toward any particular goal. We tend to think of money as an abstract placeholder, but its right use depends on what we direct it towards. I find it inspiring to explore just how many ways we might be able to multiply and layer the goods that we create using our money.
Here are a few examples I thought of, and you may think of even better ways to combine multiple goods:
I could buy a cup of corporate coffee. I could also buy a cup of coffee from the local shop of the guy down the street and get to know him better. (Caffeination + Small Improvement in Neighborhood Friendships + Keeping Profits in the Community)
I could spend $15/month on Netflix. I could also spend the same amount on buying a great work of literature for my family’s library. (Entertainment + Education)
I could buy food to cook dinner for my family. I could also stay within the same budget and invite friends to join us as well. (Providing Nourishment + Deepening Friendships)
It seems to me that most people aim at some good when they spend money. What more might we be capable of if we all grew in the virtue of beneficence?
This week, I invite you to ask:
How deliberate am I in how I use my money to create goods for myself and others? How might things change if I were even more beneficent?
God bless,
Dan
