Donating to charity can bring big benefits for your community. But there are lots of benefits for you as an individual when you give to charities, either with your time or money. One Harvard study, “Feeling Good about Giving: The Benefits (and Costs) of Self-Interested Charitable Behavior” by Lalin Anik, Lara B. Aknin, Michael I. Norton, and Elizabeth W. Dunn in the August 2009 edition of Working Papers, examined the idea that giving makes people happier and found that happier people give more and that giving makes people happier. It’s a loop you can benefit from in your life.
Strengthen Your Spiritual Life
You can strengthen your spiritual life and give yourself a sense of satisfaction by giving to charity. Participating in charities can help you weather life’s ups and downs with more resolve, create lasting personal spiritual development, and fulfill spiritual obligations.
Improve Your Physical Wellbeing
Working on a house for Habitat for Humanity or walking a sponsored marathon to raise money for cancer research can certainly help keep you in better physical shape. But Dr. Stephen G. Post, a Harvard psychologist, found that your body increases antibodies when you even think about charity work in his study “It’s Good to be Good” published in the 2009 July-August issue of Health Progress. Antibodies fight off disease and sickness to keep you healthy so just imagine what doing charity work can do for your physical wellbeing.
Donations Are Tax Deductible
We’re a financial and retirement planning professionals, after all, so this is an important aspect for us. You can use charitable donations as tax deductions to help reduce tax liabilities and payments, all while benefiting your community directly. Instead of putting that money into the pocket of Uncle Sam, you can put it where it can do the most good.