Charitable Giving Ideas to Help Others - Money Tip Tuesday

It’s that time of year! Time for family and friends, get-togethers, yummy food and sharing. It is also a time of reflection and a time when we consider others more often than ourselves. One way we do that is through charitable giving.

Links:

• Charitable organizations to look into: Make a Wish, Salvation Army, Toys for Tots, Soup Kitchens
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• Learn more about Triangle Credit Union

Transcript:

Charitable Giving is a wonderful way for individuals and corporations to donate or “give” either to individuals or to organizations, particularly, those that support their values and organizations whose mission it is to help people either directly or indirectly. Some examples are, Make-a-Wish, Salvation Army, Toys for Tots, Soup Kitchens, and so many others. Or donating to fund a scholarship or donating goods for a fundraiser.

Unsurprisingly, December is the month in which most charitable giving occurs. Last year, according to nationalgivingmonth.org, Americans gave $410.2 billion, with 31% occurring in December alone. With stats like these, it’s clear that we are a generous people. Charitable giving is often tax deductible. And though it is about others, this can be an incentive for individuals and businesses and in the end, it goes to help and support others anyway.

If you are anything like me, you notice the increase in requests whether it is the famous bell ringing to the different requests in the various places we visit. This proliferation of need can be daunting so here are a few helpful hints.

#1 Decide ahead of time what you will give.

By setting a “budget” for giving it helps you prepare yourself just as you would when purchasing gifts for family and friends and helps you avoid that uneasy feeling of not giving to everything. The burden of need falls on all of us and no one can do it alone. Giving should be cheerful and without obligation or compulsion.

#2 Give thought to whom you would support.

Giving is a privilege and giving wisely benefits you, as the giver, too. If you have ever wanted to give but are unsure about the company and what it stands for, do some research before giving. This way you can give according to your principles, ideals, and beliefs and avoid any hesitation or “givers remorse”.

#3 Be creative in your giving.

While charitable giving is most often associated with money, there are other ways we can give, this would be our time and talent. This time of year, there are plenty of opportunities to give by sharing your time. You can volunteer to serve; you can volunteer to spend time with others who may feel alone this time of year. Your talent could literally be something you’re good that you “give” or share with others like performing or reading to kids or something similar. Sharing your treasure is awesome but don’t overlook your time and talent either!

Well, that’s it for this MTT, all of us at TCU hope you have a safe and wonderful holiday season. Be encouraged to give and seek the joy in doing so.

If there are any other tips or topics, you’d like us to cover, let us know at tcupodcast@trianglecu.org.  Like and follow our Making Money Personal FB and IG page and look for our sponsor, Triangle Credit Union on social media to share your thoughts.  

Thanks for listening to today’s Money Tip Tuesday and check out our other tips and episodes on the Making Money Personal podcast.  

Bye!