Budgeting In Giving To Charity

When talking about budgeting, you don’t always hear about people putting charity in their budget. It’s so easy, especially when you’re living paycheck to paycheck to think that you can’t give, or whatever you have to give isn’t enough. We went through most of our adult years not really giving to any charities, usually around Christmas I would donate, or if a family member was doing some fundraising.

Last year we decided to give monthly. We decided on our local food bank, Feed Nova Scotia. I run an annual food drive through my work around the holidays, but often they don’t have enough donations the rest of the year.

Here are some important things to consider about donating to charities:

Do Your Research

Giving back is important, and there are many worthy causes out there. There are studies that show that by giving to charity, we feel happier and more fulfilled from knowing that we are helping someone. Giving to a charity is also an opportunity to strengthen our personal values. If the environment, or animal welfare is important to you, seek out charities that support that value.

We also researched where the money would be used before we donated. Unfortunately some charities don’t use your donations wisely, and a lot of the money goes toward running the charity instead of helping fund research, etc. Here’s a great resource for Canadians to help you with your decision.

Don’t be afraid to say “no” at the check out of the grocery store. They often ask to add a dollar or two to your total to donate to a charity; I usually turn them down, especially if I don’t know the charity or where the money is going. Do your research and give where you will make the biggest impact.

Give Automatically

When making our monthly budget I just put a line in for charitable giving, and then we figured out how much we could afford/ wanted to give monthly. The easiest way is to set up a monthly recurring donation so you don’t forget! Most will have an option online to charge to your credit card.

Get A Tax Receipt

If you’re going to donate more than $20 at a time, you may consider donating to a charity that gives a tax receipt. You’ll be able to claim this on your tax return, and get a percentage back at tax time!

Other Ways To Give

If you can’t budget in giving financially, you could budget volunteering into your time. Lots of organizations are looking for volunteers, or you could fund raise for a charity of your choice!

I know it can be hard to navigate the world of charitable giving, but with a little research and planning with your budget, you can make a big impact in the lives of others.

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