So how does charitable giving factor into a budget? Charitable contributions and tithes are personal decisions, but most wealthy people agree that it is a priority. You reap what you sow.
If you are a member of a religious organization, you may feel the pull to contribute. I actually participated in a finance course at my church and at the time I was not a great giver but the course really helped me understand that everything we have is a gift from God and it is our responsibility to take care of our gifts as well as give back to others. (Good stewardship also means not spending more than we have and going into debt) The course even quoted lots of Scripture related to stewardship and giving. It really gave me a different perspective on things.
But maybe you are not religious. That doesn’t mean you should be stingy! I have a financial follower friend that enjoys researching nonprofit organizations that support her interests in marine conservation so she can give regularly to these groups as a line item in her budget.
Giving can include financially supporting your friend who is running a marathon or buying canned goods for the local food pantry. Even when you don’t have a lot of spare money in your budget, you can still find creative ways to give to others. Giving of your time counts as well, because time IS money!
Whether you give $1 or a true tithe (10% of your income), consider charity as part of your budget. And make sure you save receipts and statements when you do give so you can get tax deductions!