Budget for Giving

In MSN Money's list of nine New Year's financial resolutions, they listed "I will budget for charitable giving" as #8. I thought what they had to say on the issue was good and wanted to share it here:

It's easy to forget those less fortunate when you're feeling less fortunate yourself. Don't, says Bernhardt, of Bernhardt Wealth Management. Not only do charitable donations help you save on your taxes, but helping others can have a positive impact on your psyche and, if enough people donate to domestic causes, the economy.

"It is important in times like this to have a grateful heart and a thankful heart for what we have because there are a lot more people worse off than we are," Bernhardt says. "These charities all need volunteers, so it doesn't have to be money. But if we can make that financial contribution, ultimately, we should."

I've asked before if you budget for your giving or not (we do) and I've suggested we all should have a plan for our giving. In addition to the reasons given above, doing so will also make you happier. :-)

Comments

[Neal Frankle]

As much as I hate to admit it.....you are right. I never thought about charitable giving until my wife forced me to do so. Now, I always feel terrific when I give. Its natural for us (me included) to have a great deal of fear these days. But when we don't support charity because of that fear we are just cheating ourselves.

You got me. I'm going to do some charitable check writing today!

[Liz]

I agree with this post 110%. It is so important to remember how fortunate we all are. I doubt any of us are going hungry or without clean water to drink. And I'm a firm believer that what you give comes back to you. One of my many examples:

This December when I was feeling the pinch like everyone else, still in CC debt, but also realizing how lucky I was to just plain be employed (and with a good company at that), I decided to sponsor a needy family from our Women's Center anyway. I purchased items from their "wish list" and incorporated a few friends to help too. The day I dropped off the gifts, I felt so blessed to be able to help others and mentioned to a friend that no gift I could receive would make me feel that good. When I got to work that day, I received a significant end-of-year bonus that was largely unexpected. Not only did I get a bonus period, but I got one that was 3x what I had received before! I was totally floored and proceeded to immediately pay off ALL the rest of my debt! Now, personally, I think that is God (or karma, the universe or whatever you want to call it) at work! Give from your heart, not to receive!

[Liz]

I agree with this post 110%. It is so important to remember how fortunate we all are. I doubt any of us are going hungry or without clean water to drink. And I'm a firm believer that what you give comes back to you. One of my many examples:

This December when I was feeling the pinch like everyone else, still in CC debt, but also realizing how lucky I was to just plain be employed (and with a good company at that), I decided to sponsor a needy family from our Women's Center anyway. I purchased items from their "wish list" and incorporated a few friends to help too. The day I dropped off the gifts, I felt so blessed to be able to help others and mentioned to a friend that no gift I could receive would make me feel that good. When I got to work that day, I received a significant end-of-year bonus that was largely unexpected. Not only did I get a bonus period, but I got one that was 3x what I had received before! I was totally floored and proceeded to immediately pay off ALL the rest of my debt! Now, personally, I think that is God (or karma, the universe or whatever you want to call it) at work! Give from your heart, not to receive, and you will be rewarded!

[KZ]

True.. We should not forget those who are less privileged than we are, especially during these trying times..

[Cents in the City]

I can't always afford to give money to charities, but I often donate my time. Sometimes I feel like I'm getting more out of it, because it feels so good afterwards. I think sometimes people need to realize that giving back isn't always about the money, that giving time is equally needed by charities.