How's Your Giving This Year?

For those of you new to Free Money Finance, I post on The Bible and Money every Sunday. Here's why.

We've talked a lot about what the Bible has to say about giving (tithing, giving generously, being a cheerful giver, etc.). Today I'd like to look at the issue a bit differently -- the amount we're all giving this year and if it's been impacted in any way by the poor economy.

The NY Times says philanthropy has not dipped as much as people’s net worths. A summary of the situation:

The philanthropic economy never dips as far as the economy and returns at the leading edge of any recovery. “It can be for guilt; it can be for pleasure; but at the end of the day, giving is something that makes you feel better,” said Mr. Bronfman, who has been involved with philanthropy for 63 years.

To test this hypothesis, I decided to check in with three philanthropists I had spoken to in 2006. At the time, they were all overseeing personal foundations in a strong economy. Today, the one common thread is that they are seeking innovative ways to continue their philanthropy with diminished resources.

Now while this piece is talking about big-name givers and large foundations, I thought I would spin it a bit and personalize the issue by asking:

How's your giving this year versus last year?

Is the bad economy forcing you to give less than you have done in the past? Or are you keeping your giving at the same level -- or maybe even increasing it?

Ours is about the same as in prior years. We budget for it each year, have a good chunk set aside for giving, and don't vary it much unless we get an unexpected windfall of some sort.

How about you? How's your giving this year?

Comments

[traineeinvestor]

We ended up giving far more this year than in any previous year - a reflection on the facts that this has been an excellent year for our finances and that we are becoming more confident of achieving financal independence in the next few years. Monetary contributions were stepped up. All the clothes and toys which our children had grown out of, unwanted presents and books that we were unlikely to re-read went to the Salvation Army and, now that my wife has stopped working she has volunteerd to help on a children's literacy programme.

[Crystal]

Cash-wise, our giving this year was only a little more than last year. Time-wise, it was triple...we fostered for PugHearts for 4-5 solid months and I volunteered a bunch of hours.

[Kari]

My husband and I gave more in charitable donations than we have in the past. We were able to do this by changing the way we gave holiday presents - rather than buy for all the adults and children on both sides of the family, we bought gifts for kids under the age of 18. We took the money we would have spent on the adults and donated it to the Northwest Harvest food bank. We figured the food bank could use a the help a lot more this year, and all of the adults in our extended family said they'd prefer spending time with us rather than getting the latest gadget.

While the tax deduction is not the reason we donate, it's sure a nice benefit!

[StL Pastor]

up,
because our income is up.

[Michael G]

My giving this year was the same as the previous year only because I was paying off debt. Now that I have most of my debts out of the way, I plan to increase my giving next year.

[Thirtysomething Finance]

I'm giving more this year than I did last year, but I've become more involved with a number of philanthropic organizations. I plan on giving more next year, and I hope to continue this pattern into the future!

[Life Compass]

Our giving is about the same as last year, as a percentage of our income. We budget 12% for causes we know we want to give to, and then end up giving another 3-4% as needs arise throughout the year.