Giving money away is something we all aspire to do. Sometimes, it’s not a wise choice while other times, we can afford to double or even triple our current donations.
Charity is a very subjective topic. While your values, perceptions, and even your religion play a role, this article will only discuss the financial implications of charitable giving. How much (if any) should you give? When should you start giving? When should you stop? How should you choose a financially stable organization for your donated dollar? We’ve got answers
To Give or Not to Give
Requests to help others are abundant these days. Everywhere you look, someone needs your help. From neglected animals to the local food bank to displaced refugees in war-torn countries—there is no shortage of crises to assist. However, before breaking out that checkbook, you should be sure you’re financially stable.
What does financial stability look like? Good question. Here are a few things you may want to look for as you assess your own ability to help others:
If you’re not confident in your own ability to stay within your monthly bills, including “paying yourself” by saving for the future, call a non-profit financial counselor today to get on the right path. Holding off on check-writing for noble causes doesn’t mean you can’t still donate. If you have time and energy to contribute to a good cause, consider volunteering instead.
Signs You Can GiveMore
Some folks can afford to up their regular charitable giving, and you may be one of those people. Here are a few indications you’re poised to head that direction:
Now that you’re ready to give or increase your giving, it’s time to choose a charity. You may already have one on your mind, or you may want to see a list of options. Either way, spend some time on the Federal Trade Commission’s Charitable Giving website to learn about the best way to identify a solid charity—as well as how to avoid a scam.
If you’re not in a place to financially give, let CESI Solutions help you get there. One of our credit counselors can help get you on your way to financial freedom.
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Consumer Education Services, Inc. (CESI) is a non-profit service provider of comprehensive personal financial education and solutions for all life stages and for all of life’s milestones. Our goal is enhanced economic security for everyone we serve.
CESI is NOT A LOAN COMPANY