No Recession of Generosity

We all want to be good, but in tough times it can be hard. Who has money to spare for charity when you're struggling to pay for gas?

In an effort to help the generous among you be good even when the economy is not, Dave Carpenter, the Associated Press's personal finance writer, has published a handy list of "5 tips on how to stretch your charitable dollars."

As someone who covers social responsibility and philanthropy here on Tonic, I am passing on this wise advice to inspire others to keep working their charitable muscles. After all, now is when many people need your generosity most of all.

Here's a quick recap of what Carpenter recommends:

1. Make yourself a "giving budget." Approach your donations like your phone bill: regular and non-negotiable.

2. Ensure your dollars will be used wisely. Approach your charities like you would your mortgage broker (at least now that we've all wised up): with questions, demanding rigor, expecting effectiveness.

3. Look outside your wallet. Approach your giving as you would your hobbies: Put in time and passion to reap benefits you never expected. Volunteering or donating other services can be just as useful as — and more fulfilling than — donating cash.

4. Put your eggs in one basket. Approach your generosity as you would your only child: utter dedication and full support. Bigger donations offer a bigger impact, just as one kid who gets all the college funds goes to a better school than two kids who have to split the bounty.

5. Expect only a simple thank you. Approach your donations as you would your teenage sons at dinnertime: giving much, expecting little thanks. Don't let charities spend much time or money offering you unnecessary thank-you gifts such as the ubiquitous tote-bag. A simple thank-you note should satisfy you (if it doesn’t, time to re-examine your motivations).

With these five rules in your back pocket, there's no reason to let a recession of the economy become a recession of your generosity. Go forth and offer!

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