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

December 1, 2022


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.

#1: Swap it out

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.

#2: Grow your gift

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.

#3: Gift your talent

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.

  • 14% – No money to spare in my budget
  • 7% – Makes me feel good
  • 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.

  1. Human services – 35.6%
  2. Education – 11.6%
  3. Religion – 9.0%

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!