<bi-shortcode id="summary-shortcode" data-type="summary-shortcode" class="mceNonEditable" contenteditable="false">Summary List Placement</bi-shortcode><p><em><strong>Welcome to Personal Finance Insider, a biweekly newsletter that connects you with the stories, strategies, and tips you need to be better with money.</strong></em></p><p><img src="https://static2.businessinsider.com/image/5fd78e6fe00bce00188bb27d-1667/PFI Newsletter Pay it forward 4x3.png" border="0" alt="PFI Newsletter Pay it forward 4x3" data-mce-source="Alyssa Powell/Business Insider"></p><h2>Here's what: 3 ways you can pay it forward</h2><p>Last week at a Dairy Queen in Minnesota, more than <a href="https://www.insider.com/over-900-customers-paid-next-cars-meals-minnesota-dairy-queen-2020-12" target="_blank" rel="noopener">900 customers paid for each other's meals</a> in the drive-thru line.</p><p>The pay-it-forward chain lasted for two days and led to more than $10,000 in sales. One participant <a href="https://www.cnn.com/2020/12/09/us/pay-it-forward-dairy-queen-trnd/index.html" target="_blank" rel="noopener">told CNN</a> that "it kinda restores your faith in humanity a little." I love this story. It immediately brought me back to my childhood.</p><p>On more than a few occasions when I was a kid, I remember my mom or aunt paying for the car behind us in a fast-food drive-thru or on a tollway or bridge. I felt embarrassed sometimes, like any kid whose parent is making a scene. But whenever I looked back to see the person's reaction, they were always delighted. That stuck with me.</p><p>This holiday season is the proverbial cherry on top of one of the most challenging years in a generation. If you've been lucky enough to come out of it in good financial standing, as I have, consider paying it forward. You never know what domino effect you'll set in motion.</p><p>There are a million ways to share your financial resources. Here are three ideas to start you off:</p><ul><li><strong>Turn a gift exchange into a charitable donation. </strong>Every December, I do a secret santa-style gift exchange with a group of friendswe draw names and each buy a gift for one person with a modest spending limit. This year we replaced the gift with a donation to a charity of our choice in the recipient's honor. Or try a <a href="https://www.businessinsider.com/personal-finance/holiday-giving-circle-instead-of-exchanging-gifts-2020-12" target="_blank" rel="noopener">giving circle</a>.</li><li><strong>Send cash to families in need. </strong><a href="https://www.givedirectly.org/" target="_blank" rel="noopener">GiveDirectly</a> is a nonprofit that distributes cash to Americans receiving federal nutrition assistance during the pandemic. So far the group has given money to 176,000 families, about 20,000 short of its current goal.</li><li><strong>Gift an impactful book. </strong>Is there a <a href="https://www.businessinsider.com/personal-finance/best-personal-finance-books" target="_blank" rel="noopener">book</a> that helped you accomplish something big' A book that inspired you to take action, change your mindset, or get through a difficult time' Buy a copy, write a short note highlighting your favorite passages or pages, and gift it to someone.</li></ul><p>And if altruism isn't enough to motivate you, remember: There's <a href="https://www.businessinsider.com/personal-finance/coronavirus-stimulus-bill-new-charitable-deduction-2020-3" target="_blank" rel="noopener">a special tax deduction</a> for contributions you make to an IRS-approved charity by December 31.</p><p>What other ideas do you have for sharing good fortune' Does a story come to mind of a time when someone else's act of kindness impacted you' <a href="mailto:tloudenback@businessinsider.com" target="_blank" rel="noopener">I want to hear</a>.</p><p><em><a href="https://www.businessinsider.com/author/tanza-loudenback" target="_blank" rel="noopener" data-analytics-module="body_link" data-analytics-post-depth="60" data-uri="bc6341f81c468415ce085061d8fee931">Tanza Loudenback</a>, Personal Finance Insider correspondent and certified financial planner</em></p><h2>Expert tip of the week</h2><p>"People who are really good with their finances are those who are motivated to learn and who get real satisfaction from seeing a plan in action, and they tend to have a genuine interest in strategically using their resources to build a great lifewhatever a great life means to them."</p><p>Eric Roberge, a CFP who works with professionals in their 30s and 40s, on the telltale signs someone is <a href="https://www.businessinsider.com/personal-finance/signs-good-with-money-says-financial-planner-2020-12" target="_blank" rel="noopener">good with money</a>. (Having a lot isn't one.)</p><h2>Stories you might have missed</h2><section><p><strong><a href="https://www.businessinsider.com/personal-finance/retiring-early-thanks-to-realizations-2020-12" target="_blank" rel="noopener">I'm retiring within a decade and it's thanks to 3 realizations I've had over the course of my career</a></strong></p></section><section></section><p>Business Insider contributor Holly Johnson is working overtime and investing wisely to retire by the time she turns 50. Her reasons for working toward early retirement might spark something in you, too.</p><section><section><p><strong><a href="https://www.businessinsider.com/personal-finance/types-of-people-shouldnt-invest-real-estate-2020-12" target="_blank" rel="noopener">3 types of people who should never invest in real estate</a></strong></p></section><section></section></section><section></section><p>If you're looking to buy an investment property to generate "mailbox money," don't. Real-estate investing is a long-term commitment, landlords say, and you'll probably experience a learning curve.</p><section><p><strong><a href="https://www.businessinsider.com/personal-finance/reading-millionaire-teacher-changed-retirement-savings-2020-12" target="_blank" rel="noopener">Reading the book 'Millionaire Teacher' showed me the huge mistake I was making with my retirement savings</a></strong></p><p>Business Insider contributor Alexis Rhiannon spent four years dutifully maxing out her IRA, but was too afraid to invest the money in the markets. She describes the "lightbulb moment" that finally lifted her paralysis and jump-started her financial independence.</p><section><p><strong><a href="https://www.businessinsider.com/personal-finance/free-tools-manage-money-financial-planner-2020-12" target="_blank" rel="noopener">I'm a financial planner and I use 3 free tools to manage my savings, spending, and net worth</a></strong></p><p>Even as someone who thoroughly enjoys managing my money, there's no need to overcomplicate things. My go-to tools are simple and free.</p></section><section></section></section><p><em><strong>Enjoying this newsletter and want to recommend it to a friend' <a href="http://newsletter.businessinsider.com/join/4np/personal-finance" target="_blank" rel="noopener" data-analytics-module="body_link" data-analytics-post-depth="100" data-uri="11c8ffc9623a75216c65815dd08330db">Here's a sign up link</a>. </strong></em></p><p><a href="https://www.businessinsider.com/personal-finance/newsletter-pay-it-forward-ideas-holidays-2020-12#comments">Join the conversation about this story »</a></p> <p>NOW WATCH: <a href="https://www.businessinsider.com/electric-planes-future-of-aviation-problems-regulations-2020-3">Why electric planes haven't taken off yet</a></p>
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