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How To Make Philanthropy Fit Into Your Financial PlansMoney has value, including the value that you give it. Here are some tips to be philanthropic with it.
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When you're putting together your budget, consider how you can budget for charity.
“ Money can be an incredible tool when you align it with your values.”
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One of the universal truths is that, while money can help meet your needs and provide you with the basic necessities of life, it can’t make you happy.
However, it can be a powerful weapon of self-satisfaction when used the right way, such as through philanthropic endeavors. And since April 15 is around the corner, it is a good time to contemplate how you can integrate charitable giving into your tax-planning strategies.
Money can be an incredible tool when you align it with your values. It enables you to feel a sense of contentment that your money is working hard for you to help you accomplish goals that match your values.
And if you value giving back to others—to your community, to your favorite cause or to planet earth—then money will enable you to accomplish that goal. However, as you look at your budget for 2019 you may not know where the money will come from to give to your favorite charity or cause. The answer is that it is probably sitting right underneath your nose. But it will take discipline to find it.
Here are three tips for those who want to give to their favorite charities in 2019, but aren’t sure where the money will come from:
Write down your values. Spend a few minutes to really examine what is important to you. Make sure all your monetary decisions support your values. If you have older children, include them in the discussion so you can create a teachable moment for them.
Write down your long-term and short-term goals. Compare those goals to how you are spending your money.
Spend intentionally. If you value traveling, then cut down your expenses at home so you can travel more. Align your expenses with what you value in life and your wants and needs.
Cut out all of the expenses that don’t align with your values. There is no one size fits all when it comes to what is important to people. Most people think that a house is a necessity, but some people would rather live in a tent and travel all the time than own a home. It just depends on what you value so make the most of your money.
It usually does not take a major financial overhaul to give more to philanthropic causes. It just takes a consistent approach that aligns with your values.
John Hagensen is the founder and managing director of Keystone Wealth Partners (www.keystonewealthpartners.com) in Chandler, AZ. He holds the financial designations of CFS, CAS, CIS, CTS and CES. Hagensen’s vision for Keystone Wealth Partners is to deliver objective and transparent financial planning strategies. He takes an informational approach when helping people prepare for retirement and is passionate about coaching his clients to remain disciplined and committed to a long-term financial strategy.
However, it can be a powerful weapon of self-satisfaction when used the right way, such as through philanthropic endeavors. And since April 15 is around the corner, it is a good time to contemplate how you can integrate charitable giving into your tax-planning strategies.
Money can be an incredible tool when you align it with your values. It enables you to feel a sense of contentment that your money is working hard for you to help you accomplish goals that match your values.
And if you value giving back to others—to your community, to your favorite cause or to planet earth—then money will enable you to accomplish that goal. However, as you look at your budget for 2019 you may not know where the money will come from to give to your favorite charity or cause. The answer is that it is probably sitting right underneath your nose. But it will take discipline to find it.
Here are three tips for those who want to give to their favorite charities in 2019, but aren’t sure where the money will come from:
Write down your values. Spend a few minutes to really examine what is important to you. Make sure all your monetary decisions support your values. If you have older children, include them in the discussion so you can create a teachable moment for them.
Write down your long-term and short-term goals. Compare those goals to how you are spending your money.
Spend intentionally. If you value traveling, then cut down your expenses at home so you can travel more. Align your expenses with what you value in life and your wants and needs.
Cut out all of the expenses that don’t align with your values. There is no one size fits all when it comes to what is important to people. Most people think that a house is a necessity, but some people would rather live in a tent and travel all the time than own a home. It just depends on what you value so make the most of your money.
It usually does not take a major financial overhaul to give more to philanthropic causes. It just takes a consistent approach that aligns with your values.
John Hagensen is the founder and managing director of Keystone Wealth Partners (www.keystonewealthpartners.com) in Chandler, AZ. He holds the financial designations of CFS, CAS, CIS, CTS and CES. Hagensen’s vision for Keystone Wealth Partners is to deliver objective and transparent financial planning strategies. He takes an informational approach when helping people prepare for retirement and is passionate about coaching his clients to remain disciplined and committed to a long-term financial strategy.
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