Knowing how and when to donate can be tricky. Especially in times of economic hardship, how can homeowners, parents, and families strike the balance of caring for themselves and striving to help those in need? The following tips cover how individuals can stay philanthropic during tough times.
Use Social Media to Encourage People to Give
Everyone seems to be on social media these days, whether they’ve got Instagram, Twitter, Facebook, or some combination thereof. The good thing about social media is that everybody listens when someone they follow wants to discuss important topics. During tough economic times, philanthropists can encourage other social media users to contribute to a worthy cause. Whatever little they may have will be enough, and if philanthropists can garner several responses, it can make a difference.
Sometimes the best thing one can do for a person in need is being there for them. Although people are cash strapped during tough economic times, they can still help by volunteering. One person can entice others to visit sick children in the hospital. Alternatively, they can go to an orphanage and have a fun day with the kids. An individual can also look for community organizations that provide their services to homeless people and join.
The field of finance is constantly changing as people come up with new and creative ways to save money for charitable purposes. One recent trend, referred to as a donor-advised fund, is a savings account specifically for donations. Donors give money and other useful assets to a third-party nonprofit, which invests that money and multiplies it for charity purposes. During tough economic times, the donor can contribute the earnings from the donor-advised fund to charities.
Give What is No Longer Useful
People have a habit of hoarding things that they love even though they no longer use them. If someone doesn’t have the cash to donate, they should consider giving some of their old things. It could be an old jacket or a pair of leather boots. Instead of hoarding them, people should donate to the less fortunate. Some companies allow donors to donate their reward points. The firm deducts the points from the donor and gives an equivalent dollar amount to the charity.
When economic activity slows down, life becomes difficult for everyone. Some have been struggling for a long time and largely need the help of donors during tight financial situations. Donors that wish there was a way to help those people should consider using the above tips.