Top Ways to Fit Charity Into Your Holiday Budget

The holiday season is a joyous time filled with fun, parties, and presents! How could this time ever become even more meaningful? One way is to amplify the spirit of giving with charity. It can be argued that the joy that’s experienced from giving is more potent and lasts longer than the joy of receiving.

Charitable giving is worth it, not just for the receiver but for the giver. No matter if you’re giving a gift to a loved one or anonymously, it feels good to give.

Here are some things to consider when thinking of holiday charitable giving:

Budgeting - How Much of Your Budget Should Go to Charity:

Charitable giving doesn’t have to start during the holidays. Budgeting should be a year-round endeavor, which means it makes sense to fit charity into your budget early on. Don’t think of charity in just the short-term, but in your long-term planning. Budgeting requires a plan, and by extension so does charitable giving. Consider your financial big-picture and how you can fit charity and donations into that larger view.

Being altruistic can feel great but you should avoid jeopardizing your budgeting goals. You may have a short-term budgeting goal of paying off the installment loan for your car or a long-term goal of traveling during retirement. Consider all your goals when fitting charitable giving into your budget.

Charitable Giving Prioritization

Start thinking about how giving aligns with your personal values. This way you can maximize the potential for how meaningful giving will be for you and what causes you’d like to focus on with your donations. Discuss giving with your family and consider giving as a family. You may focus on one charitable area during most of the year, such as food banks, but switch to another area for holiday giving, like toys and clothing for children.

Where to Donate

You can donate directly to some charitable organizations online. The best charity to donate to can be subjective and is a question only you can answer based on your values and opinions. Some organizations that take online donations are:

• American Society for the Prevention of Cruelty to Animals – The ASPCA works to rescue animals from abuse and to pass humane laws. They also share resources with shelters nationwide. Donations can be made to local ASPCAs or the national organization. Instead of a monetary donation, you can also donate your time.
• St. Jude Children’s Research Hospital – This nonprofit pediatric treatment and research facility is headquartered in Memphis, TN. They mainly focus on diseases such as leukemia and other cancers.
• Doctors Without Borders – Nonprofit, independent organization that aims to save lives around the world. They provide impartial medical and humanitarian assistance to those that need it.
• United Nations Children's Fund – UNICEF was founded in 1946 to provide relief to children and their mothers affected by World War II. Today they are known as an international social welfare agency offering humanitarian and developmental aid to children around the globe.
• Habitat for Humanity – This non-profit organization is headquartered in Americus, GA and focuses on providing housing to families in need. They also accept volunteers to help build homes in addition to financial donations.
  

What to Donate

There are various donation types that can be made. Examples include:

• In-kind donations – Donating your time involves being a volunteer. This could include offering your skills and expertise. Examples include designing websites or managing a non-profit’s social media strategy. Other examples may be visiting donation sites and offering your time to help around a facility. At an animal shelter that would include taking dogs out for walks or feeding the cats.
• Making monetary donations:
  • Single one-time donations – the most common type of monetary donation.
  • Recurring donation – committing to a consistent schedule of giving. This type of donation has the added benefit of helping the non-profit plan for the kinds of funds they’ll be receiving.
  • Planned gifts – involves naming a charity of your choice as the beneficiary in the case of your death.

There are many options for holiday giving or even charitable giving in general. You can always make the most of it by planning it out and considering your budget.