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6 Ways to Make Charitable Giving Part of Your Year-Round Budget

Americans are expected to donate over $500 million to charities and nonprofits during Giving Tuesday this year. But while the Giving Tuesday donations are helpful, experts say many organizations could use the support throughout the year.

“Spreading your support out of the course of a year ensures the organizations you support are receiving steady income throughout the year and decreases the stress of year-end fundraising,” Ashley Post, a spokeswoman for Charity Navigator, tells CNBC Make It.

With that in mind, instead of simply giving a one-off gift, consider working donations into your regular monthly or weekly spending. “Charitable giving should be a consideration in any budget,” says Carol Fabbri, a certified financial planner and founder of Colorado-based Fair Advisors Institute. “No matter what size the gift, it’s a powerful habit to get into,” she says.

1. Get organized
With so many organizations in need of support, it can be daunting to make a decision on the spot when a charity asks you for a donation. Instead, consider what you’re passionate about and select a few charitable causes you want to support over the next year.

Before making any donations, spend a few minutes looking up the nonprofit on watchdog sites such as Charity Navigator, CharityWatch, BBB Wise Giving Alliance and Great Nonprofits. These sites rate nonprofits and allow you to find out more about the organization and how donations are spent.

“Giving money, as easy as it sounds, requires conscious effort,” says Brandon Opre, a CFP with North Carolina-based TrustTree Financial. Will you remember to give $5 to the Salvation Army the next time you go grocery shopping? Or always have a few bucks in your pocket to give to a homeless person? By planning it out, you can ensure that you’re organized and always hitting your target amount.

2. Make it part of your monthly or weekly spending
“Perhaps the best way to budget for planned giving is to do actually that — budget,” says Aaron Graham, a CFP with South Carolina-based Abacus Wealth.

When it comes to creating a budget, CFP Kaleb Paddock recommends that you plan to donate a percentage of your income, rather than a dollar amount. “This way, if you are given a gift, get a bonus at work, or get a new client (if you are self-employed), you know ahead of time exactly how much you will set aside for your charitable giving,” says Paddock, a Colorado-based financial planner with Ten Talents Financial Planning.

Read the full article on cnbc.com.

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6 Ways to Make Charitable Giving Part of Your Year-Round Budget

Americans are expected to donate over $500 million to charities and nonprofits during Giving Tuesday this year. But while the Giving Tuesday donations are helpful, experts say many organizations could use the support throughout the year.

“Spreading your support out of the course of a year ensures the organizations you support are receiving steady income throughout the year and decreases the stress of year-end fundraising,” Ashley Post, a spokeswoman for Charity Navigator, tells CNBC Make It.

With that in mind, instead of simply giving a one-off gift, consider working donations into your regular monthly or weekly spending. “Charitable giving should be a consideration in any budget,” says Carol Fabbri, a certified financial planner and founder of Colorado-based Fair Advisors Institute. “No matter what size the gift, it’s a powerful habit to get into,” she says.

1. Get organized
With so many organizations in need of support, it can be daunting to make a decision on the spot when a charity asks you for a donation. Instead, consider what you’re passionate about and select a few charitable causes you want to support over the next year.

Before making any donations, spend a few minutes looking up the nonprofit on watchdog sites such as Charity Navigator, CharityWatch, BBB Wise Giving Alliance and Great Nonprofits. These sites rate nonprofits and allow you to find out more about the organization and how donations are spent.

“Giving money, as easy as it sounds, requires conscious effort,” says Brandon Opre, a CFP with North Carolina-based TrustTree Financial. Will you remember to give $5 to the Salvation Army the next time you go grocery shopping? Or always have a few bucks in your pocket to give to a homeless person? By planning it out, you can ensure that you’re organized and always hitting your target amount.

2. Make it part of your monthly or weekly spending
“Perhaps the best way to budget for planned giving is to do actually that — budget,” says Aaron Graham, a CFP with South Carolina-based Abacus Wealth.

When it comes to creating a budget, CFP Kaleb Paddock recommends that you plan to donate a percentage of your income, rather than a dollar amount. “This way, if you are given a gift, get a bonus at work, or get a new client (if you are self-employed), you know ahead of time exactly how much you will set aside for your charitable giving,” says Paddock, a Colorado-based financial planner with Ten Talents Financial Planning.

Read the full article on cnbc.com.

FacebookTwitterLinkedIn

6 Ways to Make Charitable Giving Part of Your Year-Round Budget

Americans are expected to donate over $500 million to charities and nonprofits during Giving Tuesday this year. But while the Giving Tuesday donations are helpful, experts say many organizations could use the support throughout the year.

“Spreading your support out of the course of a year ensures the organizations you support are receiving steady income throughout the year and decreases the stress of year-end fundraising,” Ashley Post, a spokeswoman for Charity Navigator, tells CNBC Make It.

With that in mind, instead of simply giving a one-off gift, consider working donations into your regular monthly or weekly spending. “Charitable giving should be a consideration in any budget,” says Carol Fabbri, a certified financial planner and founder of Colorado-based Fair Advisors Institute. “No matter what size the gift, it’s a powerful habit to get into,” she says.

1. Get organized
With so many organizations in need of support, it can be daunting to make a decision on the spot when a charity asks you for a donation. Instead, consider what you’re passionate about and select a few charitable causes you want to support over the next year.

Before making any donations, spend a few minutes looking up the nonprofit on watchdog sites such as Charity Navigator, CharityWatch, BBB Wise Giving Alliance and Great Nonprofits. These sites rate nonprofits and allow you to find out more about the organization and how donations are spent.

“Giving money, as easy as it sounds, requires conscious effort,” says Brandon Opre, a CFP with North Carolina-based TrustTree Financial. Will you remember to give $5 to the Salvation Army the next time you go grocery shopping? Or always have a few bucks in your pocket to give to a homeless person? By planning it out, you can ensure that you’re organized and always hitting your target amount.

2. Make it part of your monthly or weekly spending
“Perhaps the best way to budget for planned giving is to do actually that — budget,” says Aaron Graham, a CFP with South Carolina-based Abacus Wealth.

When it comes to creating a budget, CFP Kaleb Paddock recommends that you plan to donate a percentage of your income, rather than a dollar amount. “This way, if you are given a gift, get a bonus at work, or get a new client (if you are self-employed), you know ahead of time exactly how much you will set aside for your charitable giving,” says Paddock, a Colorado-based financial planner with Ten Talents Financial Planning.

Read the full article on cnbc.com.

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