The desire to give back is a powerful one as people of all ages seek to serve their communities and the causes they care about.
Increasingly, that means using technologies that allow them to continue to support what matters, even when they feel they don’t have a lot to give. One approach, focused on micro-donations fueled by apps like Spave, can show you how to give while on a budget.
While some of these individual donations may be small, they add up. A little, over time, become a lot.
Younger Generations Want to Give, Even When They Don’t Have Much
For young adults, there’s a new approach to charitable giving. Donors want to know how to make a difference, despite the pressures of student loan payments, starting out in a career or growing a family, and feeling the pinch of inflation.
The 2021 Future of Philanthropy report by Fidelity Charitable shows how a new generation sees philanthropy as a worthy goal on any budget. Among the findings:
- Giving Is Not Just For the Wealthy: Older generations have often perceived philanthropy as an activity for the wealthy. However, the Fidelity survey showed a remarkable 74 percent of Millennials consider themselves philanthropists, with 48 percent of GenXers and 35 percent of Baby Boomers identifying as such.
- It’s About Living Life Aligned With Values: Millennials believe in prioritizing charitable giving for three reasons: because they can make a difference, a responsibility to give, and because the ability for philanthropy to help them to live a life consistent with their values.
- Personal Influence Goes a Long Way: Younger donors are influencers and influenced when it comes to philanthropy. Forty-three percent of Millennials both were encouraged by friends and family to give to a certain cause and encouraged others to do the same.
Gen-Z and Millennial professionals also want to be more directly involved in how their contributions are used. All of this IS doable with the right tools to make charitable giving work in your budget and empower you to support organizations that are changing the world.
How to Give When You Don’t Feel You Have Much to Give
There are many ways to give to the charities you seek to support while leveraging the charitable giving tax deduction laws. You can make slight changes to your financial habits to give you the flexibility to give in a way that’s meaningful and purposeful.
Here are a few tips to give when you don’t feel you have a lot to give.
Identify the Causes
No matter what’s important to you, there are likely charities focused on the cause, whether it be health care, education, social services, or environmental issues, among many.
Know How Much You Can Give
Purposeful budgeting and planning can show you how much you can allocate for charitable giving.
Be Consistent
A deliberate plan for budgeting means you can meet your philanthropic goals with steady, regular contributions.
Use an App
Apps are a great way to manage your personal finances. When you use Spave, you can also build your savings AND give back to the charities that mean the most to you.
It starts with joining the waitlist for the Spave app on Google Play or the Apple App Store. This app connects to your checking account, and then all you need to do is use it to pay for everyday purchases.
With Spave, you can choose from more than 1.5 million accredited charities to support. You can then choose to round up purchases or contribute a percentage to your savings goals and causes.
You’ll be given automatically without having a major impact on your account balances. In addition, reporting tools help you monitor your spending, savings, and philanthropic support.
Spave is a great way to support what matters most. To learn more about how Spave can help you meet your philanthropic goals, join the waitlist to download the Spave app today.
