In fact, non profit revenue is largely reliant on end of year donations, with most bringing in a majority of their online revenue the last week of December.1
Giving back is not only important to your community, but also to your personal well being, but it shouldn't be motivated by peer pressure or shame. Identify what causes align with your beliefs and values and make donations that fit your budget.
Charitable giving is down as inflation has gone up
Adjusted for inflation, giving by individuals declined by 2.4% in 2023.2 Looking at the bigger financial picture, this makes sense. Consumer debt levels have reached an all time high this year, which tells us that people's wallets are hurting.3
As an organization that prioritizes giving back to the community and financial well-being, we encourage a well-rounded approach to giving back. Non-profit organizations play an important role in providing countless services to our communities, for which we're extremely grateful.
Giving is good for you
Not only are charitable organizations important to our community, but did you know that giving back is actually good for your well-being too?
Studies show that donating and volunteering help lower your blood pressure, lead to a longer life span, lead to decreased stress, and actually causes a chemical response in the brain that makes you feel good.4 While most of us don't give back purely for selfish reasons, it's an added bonus to know that we're not just helping others, but our bodies and minds are benefiting as well.
Ways to give back on a budget
If you don't have the means to give back right now, but want to find ways to make a difference in your community, here are a few ways you can get involved:
Volunteer
Volunteers are a crucial part of the success of non-profit organizations. Many non-profit organizations try to keep operational costs low by employing fewer staff and relying on volunteers. You can make a meaningful difference by volunteering with a nonprofit in your community.
Small donations make a difference
Even a small amount you give will make a difference. For reference, a $5 donation to the Idaho Foodbank can provide up to 15 meals. That's a huge impact! Remember, if you're on the fence about donating because it feels too small, anything makes more of a difference than nothing.
Look into whether your employer matches donations
Many employers offer donation-matching programs. If that's an option, that can even double your donation!
Don't feel peer-pressured to give
While giving is a fantastic thing, sometimes we find ourselves in social situations where it feels awkward not to donating. In a study on giving, individuals were more likely to give more when surrounded by peers, but they also felt less happy about the amount they donated.5 While your motivation behind giving shouldn't just be to make you feel good, you also shouldn't be motivated to give purely because other people around you are doing it, too.
It's important that your donation aligns with your values and that you can afford it. Don't make a donation just because you feel pressured by those around you. That said, we recommend avoiding situations like charity auctions where the expectation would be that you give if you're not able to.
Our recommendations
It's as important as ever to give back to your community. When you choose to give back, we recommend doing so with intention.
Choose causes that are important to you
Non-profit organizations vary greatly in purpose and mission. When you think about giving back, think about organizations that have touched your life or whose mission you admire. A lot of organizations that put on programs for children, for the community, or provide support services are non-profit organizations that can use your support. It's very likely you've interacted with at least one non-profit already today!
Build donations into your budget
Intentionally setting aside money in your monthly budget for donations will help alleviate any stress or worry associated with giving, and free you up to make donations as you see fit. You can even set up monthly recurring donations to a specific charity of choice and budget for that if you choose.
Don't push yourself to make donations that will put you in a difficult financial situation
We hope this is clear at this point. Giving back is fantastic, but it shouldn't come at the expense of your essential expenses. While we have no issue with choosing to give instead of getting coffee in the morning, by no means should you feel pressured to donate if you don't have the means.
Consider volunteering no matter what
