Why donate your hard earned money?



Ideas on giving money from Maximum Mustache
  • Overcome your fear of having less money. After all, more is always better – you can always benefit from more security, right? (this is actually wrong, but it can be hard to recognize)
  • Figure out who is most deserving of your money.
    It took so much time to earn the money and overcome the fear of giving – the last thing you want is to see it go to waste.
  • Figure out how to get that money to the worthwhile recipient.
    You have to find their webpage, mail a check so the credit card company doesn’t steal 3% of your donation, and ask politely that they don’t put you on their mailing list and hound you for the rest of your life.
  • Sort out the tax consequences. In most cases, you can deduct charitable donations on the “itemized” part of your tax return, but until you hit the itemizing threshold of around $10,000 you might not get any benefit. On the other hand, certain charitable expenses are deductible directly from your business income, if you run a business.
  • “Too confusing already. Forget it, I’ll just keep my money.”And thus, you end up in the same trap that keeps many people from being generous.
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