Ho, ho, ho, it’s almost the most expensive month of the year. Sometimes people feel thankful and generous, and many want to give back. If not to people less fortunate, then to causes most dear to their hearts. But we must admit, the year has been challenging; people have lost jobs, the cost of living has risen, and donors are feeling the aftershocks of the economic downturn.
As times have been hard, you may be unable to keep up with donating even to a cause you have been supporting for years. You may be feeling guilty and quick to dig in for your credit card and make a donation, but don’t. We know credit card debt is a slippery slope, especially if it is unplanned. Not to mention the interest rates that only recently rose.
5 Tips On Ensuring Debt-Free Donations
The end of the year can be an expensive time. However, that in no way means you should donate yourself to debt. The following are five actionable steps you can implement to donate without debt.
1. Plan In Your Budget
The most effective way to avoid debt when donating is planning for it. From the beginning of the year, plan for donations in your budget. Remember to include a section for your donations when listing the monthly and periodic expenses during budgeting. Create a budget that accommodates your donation obligations and makes it easy to give when the time comes. Starting at the beginning of the year will give you plenty of time to gather the finances; however, if you still need to, you can still implement it for your next year’s donation.
2. Take The Small Steps
The spare change you leave on your car dashboard or lying around on the bedroom side table count. You may not think so initially, but set a jar and watch it pile up. Before you know it, you set up a separate account to deposit the savings. At the time of your donation, you will have enough to contribute to a charity of your choice without taking out debt.
3. Set Up A Fundraiser
Social media has made it easy to connect people worldwide and has unified people in crisis. Through platforms like Instagram and Facebook, you can set up online fundraisers to allow donors to contribute to the organization directly.
4. Think Beyond Money
Donating with money is a common way to show support, but it is not the only way. You can inquire with an organization about how you can support them through gifts, time, or expertise. If the organization accepts, you can find a way to volunteer your skills as a contribution.
5. Spread Awareness
Believe it or not, spreading awareness of the organization is just like donating. By getting their message out, you are exposing them to potential donors. You can start with your close circle and share their message on social media. Who knows? Someone may be touched to donate.
Wrapping Up
The above tips balance one’s desire to donate while staying out of debt. No matter how big or small your contribution is, it will make a difference. Make donations of what you can afford while staying out of debt.