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Every dollar makes a difference.
Malte Mueller/Getty Images
Weve all heard it before, but most of us dont even know where to begin giving that dollar.
Stepping into ones philanthropic power takes time and planning in order tostrategically use money to make a difference.
If you are thinking that philanthropy is something that is only accessible to the wealthy, think again.
Its also worth noting thatwomen are more likely to give than men.
Much the way you create guidelines to manage your budget, a giving plan creates boundaries for your donations.
Your giving plan will ensure that your dollars are given with purpose and your generosity creates impact.
Think back to the last donation you made.
Or was it a spur-of-the-moment decision?
In todays digital age, its becoming increasingly easier to fund our passions.
To begin your giving plan, take a moment to reflect on the values that matter to you most.
What causes do you genuinely feel passionate about?
have a go at be as specific as possible.
For example, if you care about education, what aspect of education do you want to support?
Do you want to see more arts programming for kids?
Or would you rather see more STEM education within your community?
Take time to think about where you want to create real-world impact, and then research organizations accordingly.
This will ensure your philanthropy isnt stretched too thin and your dollar is most effective.
Every organization has different financial needs.
Not everyone is going to have a Melinda Gates level of wealth.
But, as many nonprofits will tell you, changing someones life doesnt require a multimillion-dollar check.
First, determine what you’re able to afford to give in a month.
Reflect on how yourbudgetis performing.
Are there areas where you’re able to reduce your fun spending in favor of increasing your giving?
Consider replacing your daily latte habit with a $20 monthly donation.
Or skip that fancy indoor cycling class once a month and donate the funds to your favorite organization.
Once youve established a monthly allowance, the next step is to scale your donation to a cause.
Dont be afraid to meet with the local nonprofits youre interested in.
Give them a call if youre not in the area.
For those with a small or inflexible budget, get creative with new forms of microfinancing.
Many organizations change lives by forgoing a donation in favor of a loan.
One organization that does this isKiva, which has a historical repayment rate of 97 percent.
A donation isnt the end of your giving plan.
Once you feel comfortable with the cause or handful of nonprofits you support, consider connecting in other ways.
Your donation is usually just the beginning.
