America is known worldwide for having a big heart and giving to charity, and requests for charitable giving seem to be everywhere. As with any financial decision, it helps to have a plan. Here are some things to consider before you give:
- Decide how much you’re able to give. Look at your budget and be sure your generosity doesn’t cause you to fall behind on your own obligations, or add to your credit card balance.
- Consider giving to just one or a few select organizations. This way, your dollars are more concentrated and can have a bigger impact.
- Contribute directly to your charity when possible. Most organizations allow you to donate on their websites, and while you’re there, be sure to confirm that the organization is a qualified charity with tax-exempt, nonprofit status. This way, you’ll have the potential of taking a tax deduction for your donation.
It’s wonderful to be charitable, but you want to be smart about it as well.
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