My Next Move

Feel conflicted when you help someone with money?


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Sometimes giving a gift of money can be the best feeling ever, and sometimes it leaves the giver feeling terrible, as Michael Liersch explains in this episode of My Next Move. You can’t blame the recipient. Michael explains why it’s so important to communicate your expectations around why you’re giving the gift—by giving guidance and setting parameters. Then, ultimately, you’ll end the experience feeling connected to how the money will be used. Michael explains that this is giving with intention. For example, you could start by saying, “Here's why I'm giving you this money, and here’s how I'd like you to spend it.” This gives the recipient the option to reject the gift—or accept it and use it in a way that will be deeply satisfying to you both. On the other hand, if they don't know why you're giving that gift and use it for something that you feel is not empowering, you’ll probably both feel badly. Here’s the action step: Be intentional with your money gift-gifting. Changing this behavior over time can give you a greater sense of well-being—and make the receiver of your gifts feel better, as well.
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My Next MoveBy J.P. Morgan Asset & Wealth Management