Now that you’ve got your finances back on track, it’s time to consider giving back. Often, during tough financial times, we don’t think about giving. I’m not going to lecture you about karma or what books say about tithing, but simply put, giving is an amazing, selfless act that doesn’t require you to be wealthy.
### Giving on a Limited Budget
You can still give even if you’re on a budget. Your time is valuable and can mean a lot to others. For instance, I used to play the piano at a retirement home. It wasn’t a big deal; we just played music for people who appreciated it. You could learn to play piano online and do the same. My friend visits a children’s hospital every week to paint with kids, and another one distributes hot food under a bridge in Paris. Even without money, you surely have some time to spare.
You can also offer your skills. Charities often need help with fundraising, event planning, website building, youth camps, tutoring, baking, or even simple repairs.
Choose a charity you like and offer your help. You should never feel pressured to give more than you’re comfortable with.
### Building Social Capital
Remember George Bailey from “It’s a Wonderful Life”? He spent his life helping others and, in return, they supported him when he needed it. George Bailey wasn’t financially rich, but he had immense social capital. By volunteering at your church or local charity, you’ll meet people who can lend you a hand when you need it. While I hope you never need emergency help, you might find it beneficial in other ways, like receiving free tax advice or using a room for meetings.
Don’t give just to receive something in return, but understand that generosity can enrich your life.
### Giving to the Right People
We all have causes we care about. I prefer local charities because I can see the impact of my contributions and also volunteer. I support causes like women’s literacy, clean water access, and education.
You might want to donate to disease research, sponsor a family member’s charity race, buy Girl Scout cookies, or help the homeless. Do some research to ensure your chosen charity uses donations effectively.
When helping individuals directly, I prefer to offer material help. If there’s a family struggling with addiction issues, I might bring groceries or take the kids out for a day of fun.
Giving doesn’t always have to be through a charity. You can help family, friends, or neighbors. Offer to babysit for a busy single parent, teach a neighbor a new skill, or look after their house while they’re away. Start giving in ways that fit into your life.
### Giving the Right Amount
Only you can decide how much time or money you can afford to give. Any time you spend volunteering is time you’re not spending with family, earning extra money, or resting. Start small, maybe one night a month or $10, and increase gradually until you’re happy with your contribution.
Some people aim to give 10% of their income. If you’re in debt, it might be wiser to become debt-free first. Alternatively, if you earn $2,000 and want to give $200, you can volunteer an amount of time equivalent to that $200.
If you’re good with coupons, your donation can go even further. Check with charities to see what supplies they need and use coupons to buy in bulk.
### Hidden Benefits of Giving
Surprisingly, the biggest beneficiary of your giving might be you. Helping others can make you feel good and earn you respect. There can also be financial perks, as donations are tax-deductible.
For example, I once raised money for a project in Africa, which allowed 20 kids with limited resources to join for free. I flew there as a supervisor and stayed for another month afterward, all thanks to the free flight. While I didn’t do it for the money, it was a nice bonus.
The smiles from those you help and the gratitude from people you’ve made a difference to are priceless.
Are you volunteering anywhere? What charities do you support?