Feeling Charitable? Best Ways to Spend Your Money to Help Others

According to Forbes, Americans donated $51.5 billion to the top 100 charities in 2019. This is a 5 percent increase in donation from 2018. If you’ve recently looked into making a charitable donation, you will be joining 53.1 percent of the country in using your dollars for good. But where should your money go? There are thousands of viable worthy charities just waiting for your signed check. Here are a few simple suggestions that can help you spend your money to lend a hand.

Lend a Helping Paw

Organizations like the ASPCA or local shelters work around the clock to provide pets a permanent, loving home. These charities save countless lives and fight for the safety and rights of these innocent animals. Donating your time or money to a local or national rescue organization provides these animals with impertivite supplies and medication. If you don’t want to give a direct monetary donation, consider dropping off some of the following:

Toys

Newspapers

Bedding

Cleaning supplies

Send Your Change Overseas

According to a recent study from the Center for Poverty, millions of Americans are currently living on less than $2 a day. While this fact may be startling, it pales in comparison to the 280 million people around the world living on less than $1.25 a day. Those living in extreme poverty spend 60-80 percent of their income on food (in comparison, Americans spend less than 10 percent) and over 40 million children around the world live without adequate food or shelter. A weekly or monthly donation sent overseas can be imperative in saving lives and improving well-being. These donations can be broad, such as choosing to give to charities like the Red Cross, or individualistic, like choosing to sponsor a child.

Fund Some Research

According to the Financial Times, Facebook founder Mark Zuckerberg pledged to donate $3 billion towards “ending all disease” in 2016. Their enthusiasm for medical research is matched by many; in fact, the majority of charitable donations from the UK were slated for research across various diseases and illnesses. Donations to organizations such as universities or institutes, can eventually affect the well-being of millions. Supported projects could include:

Acquiring clinical laboratory equipment

Supporting workshops and conference

Assisting young medical professionals in receiving key training

Look Locally

While it might be tempting to donate directly to big-name charities, your donation to smaller local organizations could potentially have more power. When you choose to donate to one of these organizations, you have the opportunity to experience the scope of their work firsthand. You can tour their facilities, meet the people they help and see the good they are doing. Additionally, since local charities have lower overhead costs, your donation may be used to ensure their organization remains up and running for years to come. While seemingly unimportant, offsetting these administrative costs could help these local charities thrive long term.

Do Your Homework

Mega-charities are large international organizations with annual budgets of more than $250 million. These charities carry out a variety of activities and fundraisers across multiple platforms from poverty to cancer. When deciding where to give your donation, consider the following factors:

Does the organization you’re considering provide budget breakdowns and detailed information on their accomplishments and activities?

Is the organization mainly funded through federal or individual donations?

Do you know who or what your donation will impact?

Will you receive a high impact-per-dollar when donating to these organizations?

Give What You Can

At the end of the day, you should donate what you can afford. If you’re not sure where to begin, look to organizations like Giving What We Can, that suggests members commit to donating 10 percent of their paycheck. But don’t despair if that seems a little steep for you. When giving your resources to the less-fortunate, $1 is much better than $0. Even small donations can greatly improve the quality of life for one single person.