Giving is an integral part of personal finance, and belongs in everyone’s budget.
Allocating part of your budget to charitable giving can help improve both your finances and your perspective. The first reason is because allocating a certain dollar amount or percentage to giving will force you to live on less for yourself. The second reason is because there’s a good chance some of your extra dollars can do better work somewhere other than your miscellaneous spending.
How far do your charitable dollars go?
It doesn’t take a lot of money to make a big difference. As little as $25 might not even be missed by you, but can have a major impact on an organization in your community.
Think of the way you spent your last $25: a dinner out? A new t-shirt? Can you even remember? (I can’t!) Now think of what a $25 donation could do for…
- A community garden
- A homeless shelter
- A school lunch program
- A pregnancy care centre
- A food bank
If you’ve ever experienced financial hardship (or just a really, really tight budget) you already know the difference a few dollars can make. If you want to improve your local community and the world, giving your money to causes you care about is a great way help.
Giving makes you healthier & happier
Not only does donating to a worthy cause help out people in need, it can also make you happier. Research shows time and time again that giving really is better than receiving.
In addition to boosting your mood, giving can actually improve your health. Giving has been shown to increase health benefits in people with chronic illness, as well as increase longevity.
The benefits aren’t restricted to cash donations though, so if you really can’t afford to allocate even a small amount to a good cause, give your time instead. A few hours every week or month can be as or even more valuable than a cash donation, and you get to witness the positive impact on your community firsthand!
Tangerine is celebrating their 20th anniversary by giving back
Tangerine Bank is giving away thousands of dollars in cash prizes to help community organizations across Canada who could use a financial boost to meet their savings goals.
Five communities will receive up to $20,000 in cash. There’s one grand prize of $20,000, one $10,000 prize, two $5,000 prizes and one $2,000, altogether helping 5 different organizations across Canada positively impact their communities.
Nearly 400 community initiatives were nominated by Canadians for the prize, and the list of entrants has been narrowed down to 20 finalists. Some of my favorites are:
Dress For Success Calgary. Since I call Calgary home, I can’t help but have a soft spot for the nonprofit serving my community. Dress For Success helps women succeed in the workplace and achieve economic independence by providing interview and employment outfits to women in need.
Lonny’s Smile – Camp For Sick Kids With Special Hearts. The Sick Kids foundation provides a summer camp for children with congenital heart disease. As an expecting mom, I have a soft spot in my heart for children’s charities!
Community Garden Society of Inuvik. Their motto is “fostering community through gardening” and the greenhouse provides plots to grow fruits, vegetables and flowers, as well as hosts the Arctic Market through the summer months.
But these are only a few of the great organizations in the running for Tangerine’s prizes, so make sure to view the full list at www.tangerine.ca/tangerine20 to find your favorite!
How you can help with one-click
Vote for your favorite community initiative to help them get closer to winning Tangerine’s grand prize of $20,000! Also, help share the news of the Top 20 on social media with the hashtag #Tangerine20 and encourage other Canadians in your community to vote for an initiative in need. As they saying goes, every little bit (or click) counts.