How To Make Donations A Permanent Part Of Your Budget
By Literally Broke
The widespread protests against police brutality have triggered an outpouring of donations, fundraisers, and charitable giving. The Minnesota Freedom fund was “overwhelmed” by donations and bail funds across the United States were so flooded by money that they began asking donors to direct their charity elsewhere.
Every time I log onto social media, I am confronted with another person raising money. At a certain point I began to wonder, “how much can we really all afford to give?”
Young progressives need to start having conversations about sustainable action and sustainable giving. As someone who has donated approximately $400 in the past month, I know for certain I cannot continue to give at this level (although one day I hope to).
Here are 4 things we can all do to make donations a part of our budget every month.
Commit To Giving Back
While committing to a recurring payment may seem nerve racking, you don’t need to break the bank every month to donate meaningfully.
If you’re hesitant to commit to a large, monthly charitable donation, start by contributing 1% of your income on a monthly basis. It may seem small but if you make a 40k salary a 1% donation level will enable you to donate $400 over the course of a year.
Cash In On Credit Card Rewards
By processing your charitable donations on a rewards credit card, you can optimize your donation and make your money go further.
Whether you’re using a cash back card or a card that offers travel rewards, putting recurring expenses on a credit card is always something I recommend.
Credit card rewards stretch your dollar further and offer protection should anything go awry.
Pro tip: dedicate a percentage of your budget to crowdfunding campaigns. By setting aside this amount for friend’s Kickstater or GoFundMe you’ll be able to give generously to the projects and people you actually know, too.
Use Your Skills To Raise Money
While I’d love to be able to donate with abandon, that just isn’t financially feasible for me right now. Instead, I’m hosting “Pay What You Can Budgeting 101 Workshops.
All proceeds go to bail funds and anyone can participate, even if they aren’t able to donate. This helps those that need to learn about financial literacy and those who can’t afford bail, which makes it a sustainable solution to the problems our country faces.
Marie-Kondo Your Way To A Larger Donation
I’m moving this month and have seen a ton of furniture sales with proceeds going to Black Lives Matter. You know who I’m more willing to buy from? The person donating part of their earnings!
You can do the same from home easily! I’ve written before about how I resold clothing on Poshmark to pay off debt. You can do the same and donate part of your proceeds.
While reselling items you already own isn’t a sure-fire way to make a ton of money, it is a great way to clean out your house and do some good at the same time.
The last thing you want to feel when giving back is stress! By budgeting for your monthly donations, taking advantage of credit cards, and getting creative with what you have to offer you can give more and stress less.