The Benefits of Donating to a Charity and “Paying it Forward”
Conventional wisdom tells us it is better to give than to receive. When it comes to donating to charity, research backs this up. Studies have found a range of social, emotional, and even physical benefits to donating to your favorite causes.
You don’t have to contribute huge amounts to reap the rewards, either. Here are some creative ways to get all the advantages of paying it forward no matter your budget.
Think small (but powerful)
Scientists have found that the act of giving brightens your mood, lowers your blood pressure, and may help you live longer. So take care of your health by making small, regular gifts. Once a quarter, convert your loose change into dollars and offer them to a local organization. Or drop off a box of pasta or jar of peanut butter at the food pantry after your weekly grocery shopping.
Involve your kids
Children who are taught to give not only get a “helper’s high,” but also experience increased confidence and self-esteem. Offer your kids a leg up in life by establishing a tradition of giving. Focus on donations that have an immediate payoff, like adding to a toy drive or gathering pet food and supplies for an animal shelter.
Do more together
Make your actions more meaningful by organizing a “giving drive” with family, friends, and neighbors. Maybe your family wants to give to a nonprofit health organization, your friends to a shared passion such as literacy, and your neighbors to the local community center. Create a series of drives through the year so you can give a hearty boost to each organization. When you donate as a group, you stretch your contributions and strengthen your community. From a purely financial perspective, your donations might be tax-deductible.
A habit of giving can accomplish much more than boosting the bank account of your favorite charity. Use these and other approaches to experience the joys of philanthropy.
Fulton Bank, N.A. Member FDIC.