Giving a little each month means major benefits
August 14, 2020
4 min read
Setting up a monthly deposit makes a little giving go far.
Every month, you are smartly setting aside money for your monthly subscriptions, your retirement, and other expenses. Why not invest in your future joy of giving?
We all want to make a difference and many of us probably consider ourselves to be charitable people. As Canadians, we value generosity. The most recent stats show that 84% of us give charitably.
An important question remains: Is there something that you do every month that makes you charitable? By making charitable giving a regular habit you can start a proactive practice of generosity. Setting up a monthly deposit can definitely benefit you as a donor. Regular giving is a way to act on your commitment to charity and helps to meet your giving goals.
Swap giving in
When you set a monthly deposit amount to your Impact Account, giving can be factored into your monthly budget alongside your other regular expenses (like your streaming services or your favourite bacon of the month club).
Here’s a tip: Take a look at your monthly subscriptions. Is there a podcasting service or a fitness subscription that you have been neglecting for months? Why not swap it out for a practice of giving that will bring immediate and long-term joy (over possible feelings of guilt or obligation)? You’ll feel good when you swap something you don’t need for a giving habit.
Another pro tip: If you have gathered together a group of people to create a Giving Group, your supporters also have the option to give regularly to your cause.
Give more, save time
Monthly donations have many positive benefits for charities—and for donors. Recurring donations are key to helping sustain a thriving charitable sector.
For charities, recurring giving brings a steadier cash flow and helps weather the highs and lows in revenue generating. This allows for more predictable budgets and better planning for programs and expenses.
Similarly, monthly deposits help donors better plan for the contributions they want to make towards the causes they care about.
Depositing money into your Impact Account on a regular basis can mean more to give away when you feel inspired. Studies show individuals who give regularly to charity are more likely to give more over the course of the year, compared to donors who give more in a one-time gift.
Practice generosity, even if you don’t know where to give
Don’t procrastinate on generosity. As a donor-advised fund (DAF), you can set your deposit on your Impact Account and forget it—without having an exact idea of where or when you would like to give. Because maybe you aren’t ready to give to a specific charity or cause today. And, that’s okay.
If you set up your giving so that it is one of your first priorities, you will benefit from:
- Knowing how much you have left for extra expenses
- Receiving tax receipts immediately at time of deposit
- Building the muscle memory to make giving a lifelong habit.
Gain peace of mind, look to a brighter future
Things can change, but knowing you have funds in place can empower you as a donor. You know that you have something in place for contributing if you want to a crisis or an emergency event.
The added beauty of a recurring deposit is that you can spend your energy thinking about what you are going to do to create change in the world, rather than when or how to give.
Then, when you feel ready, you can give to the causes you care about to help create the future you believe in. By giving regularly, you are helping to build your vision of the future.
When you give a little each month, you can make a big impact. Because we all have something to give. Through Charitable Impact, you can quickly set up a monthly deposit to your Impact Account. It takes just a few minutes to start a lifelong generosity habit. And giving monthly means it is easily factored into your regular expenses. Add a monthly deposit today!