Friday, 11 October 2013

How Much Should You Give to Charity?

How Much Should You Give to Charity?

Everyone must work out in their own hearts and minds the amount of money that's appropriate for them to give to charity. Some people feel that charity is something akin to religious tithes and that 10 percent of their incomes is the appropriate amount. Other people feel that it's completely discretionary.

Another small minority of people believe that once their needs are attended to, whatever is left should go to charity. The bottom line is that there is no rock-solid right or wrong answer for how much you should give. There are, however, a few things you should keep in mind when deciding how much you feel is an appropriate gift, like the ones mentioned below.

How much can You Afford to Give to Charity?

It's important to take care of your own needs as well as the needs of your family before making gifts to charity. It's true that people with fewer means must often sacrifice more to give to charity. And yet, they are the ones who often give more spending, on average, 4.5 percent of their income on giving while middle class families give 2.5 percent of their incomes on average to charity and high-income families give three percent of their incomes.

You must choose how much you can afford to give and give accordingly. Whether it's a low number or a high number. The key is that you're giving and others may benefit from your gifts.

How much are You Comfortable Giving to Charity?

Comfort plays a large role in how much you're willing to give to charity. The more comfortable you are with the organization you're giving too, the better you'll feel about the gift you're giving. That's why it's a good idea to volunteer with the charity group or organization you're considering offering your money to. When you see how the dollars are spent, the people they help, it makes it much easier to give with a glad hard and a comforted mind.

On the other side of that coin, if you have concerns, volunteering and working with your "boots on the ground" will help you either confirm or allay your concerns so you can move on and either volunteer your time and expertise in an expanded role or volunteer your money so that it can do the most possible good.

How much Money do You Want to Give?

Desire plays a critical role in your giving. Whether your desire is impacted by the specific charity, the cause the charity supports, or a simple desire to help people experience a specific set of troubles, such as women who have been diagnosed and are being treated for breast cancer, it's a good idea to know how much money, time, or care you want to devote to the cause at hand.

Charitable organizations, such as the Breast Cancer Society, rely on donations from people like you in order to accomplish their missions. Get to know the people who make the organization work, who benefit from the gifts of the organization, and who have a vest interest in making the organization a real success for the sake of everyone that needs the services it provides. Then decide how much is an appropriate amount for you to give.