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Tips & Advice

Recurring donations can rock your giving world

Leslie Strudwick December 30, 2011

A recurring donation not only makes giving easier, it help makes it more meaningful, too. Wondering how? Read on.

1.  Think of a recurring donation like an automatic withdrawal for a savings account. You don’t even miss the money when it’s removed, yet it’s always a nice surprise to see how much you have put away when you go to use it.

Since you don’t have to think about saving, it’s easier to concentrate on giving. You can be a more proactive, informed donor.  Take a bit of time to check out Chimp’s charity profiles. They show you how charities raise and spend money, so you can learn about a charity before you send money to it.

2.  Alternatively, if you’re a well-meaning but forgetful or lazy giver (guilty on both fronts), think of it more as a faithful, automated friend who’s a good influence.  Set it up to be charitable on a regular basis without even thinking about it.

3.  Most of us like to support fundraising friends when they ask. In this case, you’ll have money ready to give the next time Movember (or another big fundraiser) rolls around. If you know several people participating, you’ll have a nice little stockpile of cash so you can support all your buddies. Having the money available to give takes the sting out of the request, even if you get a lot of them.

4.  The same goes when you come across a charity or story that inspires you to act. Bad timing can be a thing of the past when it comes to giving. So what if you find out about a charity you’d really like to support right after Christmas, after you’ve just spent a ton of cash – you have money that’s been put aside for just this kind of thing.  You’re now a philanthropist at the ready (even if you’re giving tens rather than thousands).

5.  Recurring donations make reaching a giving goal a whole lot easier. Research shows that people who make a plan to give, give more than those who just do it spontaneously. Considering Canadians on average give less than a dollar day each year, we could all do a bit more planning.

So create a giving goal for yourself, divide it by 12, and set up a recurring donation for that amount. Then it’s just fun and good times from there figuring out ways to give it away. Plus, you can feel good knowing you’re doing your part to raise that low average we Canadians share.

 

Recurring donations don’t have to stop you from adding more to your fund whenever you have it. Spontaneity is always an option, they just keep you “regular.” So make living a good life a bit easier on yourself: set up a recurring donation to your Chimp Fund now.

 

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