We talk a lot about investing, budgeting, and spending our money... but what about giving it away? An often overlooked but important element of personal finance is making sure our money flows through our communities and helps make the world a safer, kinder and better place. That's why I invited founder and CEO of Charitable Impact, John Bromley, on the podcast to discuss the importance of philanthropy, how to give in alignment with your values, and how to donate to make the biggest impact. Make sure to check out after this episode Charitable Impact. I stumbled upon it and just think it's such a great tool to help you donate your money to multiple causes through one simple account while also giving you that oh-so-nice charitable tax receipt for tax time.
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CHAPTERS
00:00 Introduction
02:46 The Importance of Charitable Giving
10:50 Addressing Problems in the Charity Sector
17:17 Assessing the Effectiveness of Charities
32:15 Choosing Charities Based on Personal Values
38:58 Donating Non-Cash Assets and Estate Planning
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TAKEAWAYS
• Set goals and work backwards to determine the number of points needed
• Stay organized by using spreadsheets or weekly summaries to track credit card bonuses and spending
• Charitable giving should be an essential part of every financial plan.
• Donors should align their giving with their personal values and passions.
• Assessing the effectiveness of charities requires a combination of passion and knowledge.
• Giving throughout the year and separating the act of giving from the decision of where to donate can lead to more impactful giving. Incorporating charitable giving into one's financial life is important, regardless of wealth.
• Different approaches to giving include setting aside a percentage of one's salary or making regular contributions from unexpected windfalls.
• Consider personal values and preferences when choosing charities to support.
• Leverage social networks to make giving more enjoyable and impactful.
• Explore options for donating non-cash assets and integrating charitable giving into estate planning.
• Instill a culture of giving in future generations.
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RESOURCES
📌 Check out Charitable Impact https://www.charitableimpact.com/
📌 Enter to win a copy of books featured on this season https://jessicamoorhouse.com/contest
📌 Show notes & transcript https://jessicamoorhouse.com/402
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ABOUT ME
I'm Jessica Moorhouse, a money expert, Accredited Financial Counsellor Canada®, speaker, content creator, and host of the More Money Podcast. I'm based out of Toronto, ON, Canada and run my own business, MoorMoney Media Inc., to educate others about financial literacy. To learn more, check out my website https://jessicamoorhouse.com
#personalfinance #financialliteracy #money
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