There have been a lot of things written about the differences between these heavily stereotyped generations of Gen X, Gen Z, and Millennials. Despite their differences, our 2022 Happy Money Giving Survey uncovered some similarities amongst these groups ranging in age from 18 to 56. 

Four details that rose to the top when asked, “What is important to you when considering what charities or causes you donate to?” were:

They get to choose how donations are used

The overlap is understandable as these factors include how the charity relates to them personally as well as ensuring transparency for how their money is used. Those are both things that we can get behind – check out 6 Questions to Ask Before You Donate Money to a Charity for even more tips. 

The two younger cohorts in our survey – Gen Z and Millennials – continued the overlapping trend across a few more factors. 

34.9% of Millennials and Gen X donated multiple times to causes they care about in the last 12 months. 

13.4% of Millennials and Gen X set aside a specific amount of money from their paycheck to donate to causes they care about. 

32.6% of Millennials and Gen Z donated to social causes that benefit human services.

But there is one area where opinions started to differ slightly.

33% of Millennials find volunteering their time to be more impactful rather than donating money. While Gen Z is evenly split between which form of giving they find to be most impactful. 

Regardless of your age, income, or other descriptors, giving can be a very impactful thing for any individual. It’s all about finding the right charity for you and having a plan to get there. 

Check out our full 2022 Happy Money Giving Guide to learn how to stay safe when donating, hear about the impact that giving can have on happiness, and some tips for giving when money is tight. 

Happy Money surveyed 1,000 people and found four things that matter to all 4 generations when donating to charity. Check out the 2022 Happy Money Giving Guide for all the details.

What do Gen X, Millennials, and Gen Z have in common? 4 Things That Matter When Donating to Charity

1. Find a cause or organization that aligns with your values

A big part of giving back to your community is benefiting from the boost of endorphins and connectedness that it provides to you in return. Another factor is seeing things you believe in come to life in tangible ways. From helping people experiencing homelessness or mentoring youth in your community, finding a cause that resonates with you is a vital part of the giving experience.

Whether you’re donating monetarily or giving of your time, it’s always important to find a charitable outlet that is in alignment with your personal values. There are so many wonderful, credible organizations that you’re bound to find one that is a perfect fit for you. 

2. Check out the details on your favorite charities

Once you’ve picked out a few organizations that you’d like to support, be sure to do your research. Don’t be swayed by marketing campaigns or social ads alone. Reputable charities and non-profits will be transparent about their practices, their funding, and their beliefs. 

Be sure that you’re wisely investing your time and money with a cause that is credible. Some resources to help with this are websites like Charity Navigator or Guidestar.

3. Decide what you want your impact to be

You’ve done your research, and you’re ready to give back! But before you start collecting cans or hitting submit on that donation – decide what you’d like your long and short-term impact to be. Are you wanting to get more involved at a local chapter of the Boys & Girls Club to give back to a community that impacted you growing up? Are you wanting to make a monetary difference at a local food bank that’s understaffed? 

In our 2022 Happy Money Giving Survey, we asked people who recently donated money or time what they thought the biggest impact was.

For those who donated money, they considered the most important impact to be:

46.5%: Both money and time are equally impactful

For those who donated time, they considered the most important impact to be:

41.6%:Both money and time are equally impactful

All giving matters regardless of what form it may take. By taking time to assess the type of giving that will be the most impactful and bring you the most satisfaction, you will be set up for success to have a longer, and more fulfilling, experience on your giving journey. 

4. Find a way to give that suits your lifestyle and budget

Charity? Found it. Research? Done. Goals? Check! Now it’s time to align your goals with your reality. Aspiring to donate $5,000 this year to a charity close to your heart is incredible but may not be realistic for your budget right now. Or maybe you’d love to volunteer at the soup kitchen three times a week, but your personal obligations would make that unsustainable. 

In our 2022 Happy Money Giving Survey, we asked people if they had the option to donate time or money, how would they choose? 55% of respondents said – it depends. Among these folks, there were five factors that impacted their decision:

What the charity / cause needs/ wants (17%)

By identifying your goals up front, you can decide how to take small steps towards those over time. Plus, seeing how your contributions are ultimately making progress on your charitable goals will encourage you to keep going.

Now that you’re all set to start making an impact in your community, see if your efforts can be easily doubled. You could see if a friend or family member would like to join you once a month to volunteer or if they’d be willing to match your financial donation. Also, some employers offer charitable matching incentives. Be sure to check with your company to see if this is something they offer. 

For more tips and tools on giving this holiday season, download your copy of the 2022 Giving Guide by Happy Money.

The holiday season is a time of giving, but don't open your wallet before you do your research on a new charity. Learn how to choose a charity to support with this 5-step guide from Happy Money.

5 Step Guide to Choosing a Charity to Support

When money is tight, giving to charities can often be at the bottom of the list. But we want you to reap the benefits of investing in others even when money is tight. Here are three tips to think about when there’s no room left in the budget.

If there’s a cause that you’d really like to give to, take a look at your weekly expenses. Is there a recurring splurge or nice-to-have that you could cut out once a week or even once a month? If so, you could put this money towards your favorite charity instead. A little sacrifice on your part could be a big impact for your favorite charity because small things add up.

Don’t donate alone. You can give your gift a boost by taking the money that you’d be donating to your favorite charity each month and tuck it away into a high-yield savings account. The little bit that you intended to give monthly can now grow into an even larger annual donation with no additional impact to your budget.Another way to grow your gift is to ask friends or family to match (or exceed!) your gift. Using events like your birthday or holidays is a great way to pool money to put towards your favorite causes. Plus, you can share it on your social platform too. Some apps even let you use your birthday as a fundraiser. Regardless of how many followers you have, the ripple effect can have a big impact.

If money is just not an option, that’s ok! Because your time and talents are priceless to many organizations. Do you have a specialty or niche that a local organization could benefit from? Would you love to mentor a local teen? Or read to a group of wide-eyed toddlers? There are lots of ways to turn your talents into gifts that many charities would receive with open arms.

In our 2022 Happy Money Giving Survey, 36% of people said they prefer to volunteer time and here’s their top 4 reasons why.

7% – Volunteering has a higher impact 

2% – I don’t trust where monetary donations actually go 

Of the 56% of people who choose to volunteer their time, these are their top 3 social causes.

For more tips on giving to charity and ideas for the perfect gift for those on your holiday list, get your copy of the 2022 Happy Money Giving Guide today!

The jingle of bells and the twinkling lights can bring all the warm fuzzies and make you want to open your heart and wallet to your favorite charity. But if your budget doesn't allow for giving as much as you'd like, here are three tips from Happy Money on donating to charity when money is tight.

Giving on a Budget: 3 Tips for Donating When Money Is Tight

Like we discussed in Community Impact 101, be sure you know all the details before you hand over your money. With the rise in popularity in recent years for sites like GoFundMe, Givebutter, and Donorbox, it’s never been easier to instantly give to causes that matter to you. Many organizations also use text messages or QR codes as a quick way to donate too. But all of these innovations invite scammers to try and take your money and run – without a charitable thought in mind. 

Below are a few tips from the FTC to avoid scammers. 
1. Find out who’s behind the crowdfunding request.
2. Do a reverse image search of the photos used on the crowdfunding campaign page. 
3. Do your own vetting.
4. Find out what happens to your money if the project doesn’t get off the ground.
5. Check where the donation link goes.

You can learn more at their full articles, including: 
→ Donating Through Crowdfunding, Social Media, and Fundraising Platforms
→ How to Donate Wisely and Avoid Charity Scams.

Every charitable organization should be transparent with their volunteers and supporters. . While some organizations with larger budgets may share their annual progress on dedicated websites or downloadable fancy documents, all charities, even local ones, should be able to provide the information. 

According to our 2022 Happy Money Giving Survey, people ranked these five reasons as most important when considering what charities or causes to donate money toward.
– Belief in the social cause’s overall goals/purpose
– Works with other organizations I care about 
– A good social reputation
– Impacts my local community
– I can see first-hand proof of its impact 

3. See how much of each $1 goes to the cause vs. the organization

At a minimum, every charity should be able to tell you how every dollar was spent. But some organizations will also indicate what portion of each dollar goes directly to the cause. 

For example, the American Red Cross states they are, “proud that an average of 90 cents of every dollar we spend is invested in delivering care and comfort to those in need.” While organizations like The Nature Conservancy share in their 2021 Annual Report that their “programmatic efficiency” is 69.2% which means 30.8% of every dollar is spent on things like administrative expenses and fundraising. Websites like Charity Navigator also provide a “Give with Confidence” score that breaks down each charity’s financial ranking along with a rating for accountability and transparency.

Different organizations have different expenses based on their cause, so it’s up to you to decide what is a good investment of your money based on your values and goals. 

2022 Happy Money Giving Survey Insight: Older and younger adults donated money at the same rate this past year. The average age of those who donated monetarily was 47.2 years old, while the average age of those who volunteered was 47.7 years old.

Definitely check out charity specific websites but also use everyday tools like Google Reviews. This can give you a sense of the experiences other people in your community have with the particular charity. This can be especially helpful with large or nationwide organizations that may have different reputations or experiences based on your location. 

5. Confirm if monetary gifts are tax deductible

Not all “charities” are created equal when it comes to how the IRS views them. If being able to deduct your charitable contributions on your taxes is important to you, then read the fine print.

According to TurboTax:
→ Religious and charitable organizations typically fall under section 501(c)(3) and can receive tax-deductible donations. 
→ Not every section allows these deductions. For instance, social welfare and civic organizations registered under section 501(c)(4) don’t qualify.

There are lots of nuances when it comes to what you can and cannot claim on your taxes. Do you research for your specific needs, and check out info from the IRS like this article on Charitable Contribution Deductions. And when in doubt, reach out to a tax professional. 

6. Ask how you can track progress toward the project

Some monetary donations will be general gifts to help the entity complete their mission. But others will have a specific goal in mind. Be sure to ask how you can track the project. If it’s an initiative to create ten community gardens by 2025, find out where you can learn about progress updates on a regular basis. 

For example, Charity: Water provides a map to see all of their clean water projects along with sensor data to see each well in action. Not all charities will be this high-tech, but even a monthly newsletter is a great way to stay up-to-date on your giving impact.

According to our 2022 Happy Money Giving Survey, of the 59% of people that donated money – these were their top 3 social causes:
→ Human services (31.3%)
→ Animals & Wildlife conservation (14.4%)
→ Health & Wellness (13.1%)

For even more tips on how to give safely and with intention this season, grab your copy of the 2022 Giving Guide by Happy Money.

'Tis the season for giving. But before you give away your money, be sure you know enough about the charity or organization that you've chosen. Learn from Happy Money the six questions you should ask before donating money to charity.

6 Questions to Ask Before You Donate Money to a Charity

At Happy Money, we’re big believers in buying experiences over things and also investing in others. According to our Chief Science Officer, Dr. Dunn, “Happiness research shows that material things turn out to provide less happiness than experiential purchases… and research has shown that spending money on others provides a bigger happiness boost than spending money on yourself.” That sounds like a win-win.

Here are three ways to give the gift of experiences this holiday season (or year-round, if you ask us!).

It’s easy to wrap up a sweater as a gift, but the sentiment is often fleeting. Things are nice, but they don’t impact us the way that shared experiences do. Think about how you could repurpose your gifting budget this year to give memorable experiences as gifts instead of physical things.

In our 2022 Happy Money Giving Survey we asked people to share what experiences meant the most to them, and here’s what they had to say.
→ Going on a trip with friends and/or family because spending money on memories is a better investment than just buying clothes.
→ I enjoy spending my money traveling with my family. I enjoy making lasting memories with them.
→ Taking trips to new places, since we are retired.
→ Traveling to different states or countries and learning about new cultures.

Flying your entire family to a remote location for an excursion may not be in the budget, but consider connecting with friends and family to see if they’d be willing to choose an experience over physical gifts this year too. You could all chip in to go see an event or take a trip to a location that everyone can vote on. With the power of everyone involved, you may all get to experience something together that you never could have with individual gift budgets.

While giving experiences to friends and family is great, also consider how you can give experiences to your favorite causes too. Organizations like Kiva enable you to crowdfund microloans, “as a force for good.” This means that your monetary gift can help a family in a different country plant crops for the next year or provide transportation for their children to get to a school. Plus, once your microloan is repaid you can keep paying it forward to other folks too.

Bonus tip: A platform like Kiva is another great gift-giving option for family and friends. You could set aside a certain amount to give and choose your cause together.

For even more tips on how to give to friends, families, and charities this season, check out the full 2022 Happy Money Giving Guide. 

Giving gifts is great, but sometimes gifting an experience can be even happier than an expensive present. Join Happy Money as they explore three way to give the gift of experience to folks on your list this holiday season.

3 Ways to Give the Gift of Experience

The holiday shopping season is one of the busiest times of the year for consumers, and it's filled with twinkling lights and deep discounts. if you’re budgeting for the holidays, it can feel like an expensive obligation wrapped up with a red bow. However, with a carefully planned and well thought out plan, you can avoid burning a hole in your wallet before the shopping season ends. Whether you have a long list of gifts that you can’t wait to buy or the dread of the season is weighing you down, here are five tips to help stretch your dollar with a few budgeting tips for the holiday.

It’s tempting to set out on foot (or your phone) in search of the best present for those special people in your life. But before you know it, you can blow your budget in one afternoon. Instead of letting sales, window shopping, or the perfect gift sway your savvy decision making, start with the people. Write down everyone – yes, everyone. If you plan on buying your dog walker a gift, then add them to the list. Once you have the who, add how much you’d like to spend on each person. Now, add it up. If you're budgeting for the holidays with a $500 limit for everyone but the list adds up to over $900, you’ll have to start either cutting folks from the list or making some adjustments to your per-person budget. t’s better to prepare this now than regret your purchases later.

When shopping on a budget, don’t set out with the goal of finding everything you need at one store. And don’t set unrealistic expectations that Black Friday or Cyber Monday sales are going to be the best bargains. By having your per-person budget in hand, you can start to plan for what you’re getting them. With this info you can do your research and get the best deal. You can use comparison shopping tools like Google Shopping or camelcamelcamel to make sure you’re getting the best deal, and you can even set up alerts for price drops. The earlier you start, the more time you have to make informed decisions (vs. last minute impulse buys). 

Get friends and family involved in a gift exchange

If you’re not the only one in your group budgeting for the holidays, consider sharing the idea of a gift exchange. You can keep it simple and have everyone draw a name. This way everyone only has to purchase one gift at a set price limit, while ensuring that everyone in the group receives an item. But there are lots of ways to get creative with a gift exchange too. You can have a theme, like an ornament or craft exchange. If you have a group with a shared hobby or passion, you could also all go in together on a shared item like a subscription to a wine of the month club that you could all enjoy together. Make it fun and focus on the act of giving instead of the price tag. 

In addition to shopping sales or finding discounted items, you can also get money back on your gifts in multiple ways. From the basics like cash back on credit cards, there are lots of apps that allow you to cash in on shopping through their site versus going directly to the retailer. A few options include Dosh, Ibotta, Rakuten, Honey, and RetailMeNot. Another way to get more bang for your buck is gift card deals. Many retailers will have promotions like, “buy $50, get $20 free” – this means you can either regift that extra card as an additional gift or use it as savings. Whether it’s a discount code, a paper coupon, or a cashback app – using a combo of savings methods can really add up in your favor. 

When giving a gift, the recipient will always appreciate that extra dose of thoughtfulness  that went into it. If your spending limit for holiday gifts is super tight this year, consider how to pair smaller budget items with a hefty amount of DIY love. Here are a few examples. If your best friend loves hiking, you could purchase a new backpack on sale and then fill it with less expensive items like trail mix, sunscreen, and a journal. If your sister loves baking, you could get her a fancy new apron and box it up with five of your favorite recipes that you’d like to try together. These little (often free) extras can really turn a less expensive gift into a holiday showstopper.

Did you enjoy these tips? Get more info on donating to charity and how to make the most of your giving this holiday season by downloading your copy of the 2022 Happy Money Giving Guide today!

The holiday season is full of joy, but without proper planning it can leave your wallet in a bind. Learn how to budget for the holidays with these 5 tips from Happy Money for making your dollar stretch further this holiday season.

5 Tips to Help Budget for the Holiday Season

Gifting on a Budget: 5 Tips for Stretching Your Dollar when Holiday Shopping

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