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  • There's a scene in A Christmas Carol where a couple charity workers visit Scrooge's

  • office looking for donations.

  • Of course, Scrooge gotta Scrooge, so he kicks them to the curb.

  • Ebenezer with all the money in the world, can't spare a dime.

  • That should feel counterintuitive to us, but as the audience, we nod our heads and think,

  • yup, that makes sense.”

  • Dickens didn't invent the trope of the cruel, greedy rich guy, but he sure popularized it,

  • and there have been countless examples since: Montgomery Burns, Mr. Potter, Gordon Gekko,

  • Smaug the Dragon, the Lannisters.

  • The idea that one's wealth is inversely proportional to their empathy is a staple

  • of fiction, but is there a basis in reality for it?

  • Does having more money make you meaner?

  • And if so, what can be done about it?

  • If I asked youwhy don't you give away more money to worthy causes?”, what would you say?

  • I'd guess we'd all have a response along the lines of “I don't have enough money.”

  • That sounds reasonable on its face.

  • But what if I told you that research suggests having more money makes you LESS generous?

  • A study by the Chronicle of Philanthropy found households earning 50 to 70 thousand dollars

  • gave 7.6% of their discretionary spending to charity.

  • Those earning $100,000 gave 4.2%.

  • And those who made over $200,000 and lived in a zipcode where 40% of their neighbors

  • earned the same gave only 2.8% to charity.

  • And a University of Notre Dame survey found that Americans below the poverty line were

  • twice as likely to give up to 1% of their entire income to charity compared to those

  • above the poverty line.

  • Researchers at UC Berkeley conducted an experiment where subjects were asked to rank themselves

  • on a socio-economic scale from low to high.

  • Then they were given some cash and asked how much of it they'd consider giving to a stranger.

  • Again, people who identified themselves as lower-class, gave away 44 percent more on

  • average than their higher ranked counterparts.

  • Perhaps you've heard about the famousgiving pledgecampaign initiated by Warren Buffet,

  • Bill Gates, and other billionaires.

  • In an inspiring move, they are trying to convince other super wealthy families to give

  • away half of their fortune over their lifetime.

  • But, sadly, out of the hundreds of thousands of ultra-high net worth individuals in the

  • world, only 187 have signed the pledge in the 8 years since the campaign started.

  • There's no denying there's a “self-preservationstreak when it comes to amassing wealth.

  • Money doesn't just make us more possessive, it can also lead to obnoxious, arrogant social behavior.

  • Take one study that watched 100 random partners play a rigged game of Monopoly.

  • One of the two players started with double the starting cash, collected twice as much

  • when they passedGo”, and rolled more dice.

  • These advantaged players demonstrated more visible displays of victoriousness

  • like dominant physical gesturing and loudly moving their pieces around the board.

  • They even ate more pretzels that were specifically located nearer to the disadvantaged player.

  • When asked afterwards what factors led to their success, many of them pointed to some

  • sort of inherent skill rather than the obvious fact that the game was heavily tilted in their

  • favor from the start.

  • It's like their brains had to find some sort of self-affirming justification for unearned privilege.

  • Even pretend-wealth can turn nice Aunt Sharon into a cutthroat real estate baron!

  • What's going on here?

  • What is it about wealth that can turn even the best of us into an un-caring Scrooge?

  • One of the major factors is the connection between wealth and power.

  • The greater your wealth, the more advantages you have in life and the more power you have

  • over situations, circumstances, and people.

  • That boost in our sense of power holds a key to this phenomenon.

  • In a study at McMaster University, subjects were split into two groups - one primed to

  • feel powerful by recounting a situation where they were in charge - and one was not.

  • Those feeling more powerful were far less likely to exhibit what neuroscientists call

  • mirroring,” our subconscious copying of others' behaviors and moods.

  • Laughing when others laugh.

  • Feeling tension in the room when someone says something inappropriate.

  • Getting choked up watching someone else cry.

  • Mirroring is a vital skill that allows us to adapt appropriately to the people around

  • us, and fit into social situations.

  • And it is an essential building block to allowing us to feel empathy.

  • If you're wealthy, or hope to be one day by watching Two Cents videos, this might be

  • a bit alarming.

  • But fear not!

  • Now that you are aware of some of the dangers that come along with wealth, there are steps you

  • can take to build empathy and remain generous now matter how much money you have.

  • For starters, don't isolate yourself or surround yourself with only your wealthy friends.

  • Wealthy individuals usually live physically further apart from others, and when they socialize,

  • it's with people at their same income level.

  • But studies show that wealthy people that live in economically diverse neighborhoods

  • give away twice as much to charity than those that don't.

  • So where you live makes a big difference!

  • And the same guys that did the monopoly study also found that experiencing nature can make

  • us more generous.

  • The feeling of awe when you look up at the stars or over a vast, expansive landscape

  • makes you feel less important and therefore more likely to help someone else out.

  • So take a hike, Ebenezer!

  • Wealth isn't evil.

  • Or good.

  • It's a tool that can impact the world in ways beneficial... and terrible.

  • As you journey towards a more prosperous future, don't forget to protect yourself from the

  • emotionally numbing effects of wealth.

  • For example, you can set a specific percentage of your income to give away - no matter how

  • much you make.

  • And try to actively seek out situations that will connect you people that aren't like you.

  • It'll help make sure you own your moneyand it doesn't own you.

  • And that's our two cents!

  • If you give to charity, how do you decide how much? And how do you stick to it?

  • Let us know in the comments.

There's a scene in A Christmas Carol where a couple charity workers visit Scrooge's

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