Last year, people throughout the world raised $177 million on Giving Tuesday
‘Tis the season for giving.
Nearly all Americans (96%) give to charity, according to data released this morning from Bankrate.com. And many of us plan do more this year: About one in four Americans (22%) say they are giving more this year than last year — whereas just 12% say they are giving less.
Bankrate.com analyst Robin Saks Frankel attributes that to rising salaries and other, more emotionally-driven factors: “Overall, the most popular reason people gave more is because their income rose, followed by a desire to support victims of recent hurricanes and other disasters… The most common explanations for giving less all involve having less money to spare, such as reduced income, higher expenses or the need to save more,” Frankel said in a statement.
Of Americans who plan to give to charity 40% donate money; 35% donate clothes, food, or other goods; and 19% give their time — though this varies somewhat by age.
Millennials between the ages of 18 to 36 claim to have the greatest inclination for donating clothes, food, and other goods (41%) and volunteering their time (27%). But while they may have charitable tendencies, they’re also the least likely to favor making monetary donations (29%).
Here’s proof that Americans are very generous https://t.co/o9h3SnDYwi
— Moneyish (@Moneyish) November 28, 2017
Meanwhile, slightly older givers — the Baby Boomer generation, defined as being between the ages of 53 to 71 — are more apt to giving financially (48%), while just 14% say they’d be likelier to volunteer their time, Bankrate says.
This comes at a time when Americans are giving millions to charity. Charity Navigator says that we gave a total of just over $390 billion in 2016, up from 2.7% from the year prior. While foundations gave nearly $60 billion of that, the largest component — almost $282 billion — came from individuals. Education-related causes took in 15% of all donations — about $60 billion — while foundations garnered 10% ($40 billion). Health-related charities came in at 8% of all donations — $33 billion.
A big chunk of this charitable giving will occur today, as it’s Giving Tuesday — an annual day, held each year on the Tuesday after Thanksgiving, in which Americans are encouraged to give to charity. In 2016, the charitable “holiday” raised $177 million.
Even if you don’t have money to give to charity, “it’s always great to give your time,” says etiquette expert Karen Thomas. Thomas says that this time of year, it’s particularly helpful to give items in good condition that can keep people warm or hygienic like “chapstick, deodorant, socks [for] the homeless or less fortunate” as “they just don’t have the money to but that at this time of year.”
Plus, you can volunteer. “There’s soup kitchens, there’s shelters, there’s all kinds of way to give back other than monetary,” Thomas concluded. “It’s a great way to bring families together, to bring civility back, and teach your kids kindness.”
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