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Benefits of Charitable Giving

February 16, 2023

At Client 1st Financial, we firmly believe in the importance of supporting those in our community, so much so that philanthropic planning is one of our four primary services. We see it as a crucial way to use your capital for causes that resonate with you and lend confidence in your financial decisions. While there are concrete benefits, like tax deductions and capital gains savings, the intangible benefits are equally important and can significantly impact your legacy. In case you’re not yet convinced, we’ve gathered some of the most compelling reasons you should consider prioritizing charitable giving as part of your legacy.

Strengthen your community.

Especially after the COVID-19 pandemic, the reality of living paycheck to paycheck hit close to home, even in our own neighborhoods. By contributing locally you may be helping people that you see and interact with daily without even knowing it. Additionally, as a caring member of your community, you understand what causes need the most assistance, whether it’s food pantries, educational children’s programs, or healthcare services. You will see the impact of your donations directly. 

Set a good example for the next generation.

If you have children, sharing your resources will help you raise them to be selfless and compassionate. Along with giving our time and talent, modeling to those younger than us that proper care for finances includes responsibly giving to charity is important. Even if your children do not give financial support until they are grown, learning the spirit of generosity and empathy at a young age will go a long way. If you don’t have kids, don’t worry! You can still inspire other people in your life to donate, turning a single donation into multiple. 

Make yourself feel good.

Donating to charity strengthens your social conscience and furthers your values, and frankly, it feels great to know that you can offer much-needed resources to those who need them most. There are even studies to prove that the positive self-esteem that comes from giving can improve mental health and well-being in the same way that eating or exercising does. 

You can donate things other than money.

If you’re not in a position to donate monetarily, that is perfectly fine. Donating your time to a charity has the same emotional effects as money does. Most charities rely on volunteers to contribute their time to help them keep doors open, so giving a charity your time and dedication is of extreme value. This is the same for non-monetary resources, like clothing, used vehicles, furniture, or your services if you have a business. 

Helping others who have less, encounter barriers to education or affordable housing, or simply need a break, is an essential part of one’s life journey. Client 1st Financial is ready to give you a helping hand in planning your charitable legacy. Click here to learn more about our services or contact us.