What's the Trick to Giving Back Regularly? Make a Giving Plan
Oh, wow - do I get overwhelmed by all that happens at the end of the calendar year… From school holiday pageants, to gifts for cousins to office parties, to remembering, to buying new eyeglasses because you met your deductible – so much!
But one of the things that we do NOT have to cram into the end of the year is our giving. By thinking about giving throughout the year, we can make sure that we have a good understanding of what we can give and when, and ensure that we are giving back to the community in ways that work for us.
As you may know, I Live Here I Give Here is a nonprofit organization that helps people in Central Texas connect with causes they care about. We recently hosted a conversation with some amazing Central Texas citizens to talk about how they strategically give back to their communities, both financially and through their time and talents. We are excited to share here the brilliance of Kendall Antonelli, Co-founder of Antonellis’ Cheese; Summer McAfee, Community Relations Manager at Consuela; and Kristy Holmes Hutzel, CPA at Maxwell Lock & Ritter. Each community leader told us about the unique ways that they
Kendall shared with us that her giving plan focuses on mental health issues and on giving to diversity, equity, and inclusion (DEI) causes. She notes that she also works hard to involve her family in volunteer work and activism. And she brilliantly introduced us to the term "habit stacking," which in this case involves her combining philanthropy with family activities (e.g., volunteering while on vacation).
Summer focuses her financial giving on organizations that she volunteers with. She also practices "strategic giving" by rotating donations to different causes throughout the year. And she finds creative ways to donate within her budget, like redirecting money saved from eating out one night a month – that is amazing!
Kristy reminded us to always talk with our employers. For example, her company encourages employee volunteerism and provides matching donations. She noted that her personal giving changes based on the current needs in her community, such as her daughter's school requesting funds for a specific project.
I would add that creating a donor advised fund (DAF) is an awesome way to think year -round about your giving; you can talk with an investment firm like Schwab or Fidelity, or the Austin Community Foundation, to learn how putting even a small amount in a DAF can help you increase your giving.
Some of the other key takeaways from the conversation include:
Giving back doesn't have to be a huge financial commitment. Small donations, volunteering your time, and using your talents are all valuable ways to make a difference.
Develop a giving plan. Consider your passions and the causes you want to support. Allocate your resources (time, money, skills) strategically. We have an outline of a giving plan that you can use on our website here.
Giving can be a habit. Look for ways to incorporate giving into your everyday life. For example, donate a portion of your savings or volunteer regularly.
There are different ways to give at different life stages. Your giving plan may change as your income or circumstances change. And you should be proud of your giving, big and small contributions alike!
So take this end of year period to focus on things other than giving – like freaking out about whether the ham you ordered is gluten-free for your sister’s boyfriend! Then start off the new year creating a plan for how to make your 2025 your most effective giving year yet!
As a reminder, I Live Here I Give Here offers a wide array of resources to help you develop your giving plan and connect with local causes. Visit us at ilivehereigivehere.org to learn more! You can also watch our full conversation, “How To Give: Donating with Your Budget In Mind,” here.
PS. Although you can be thinking about giving all year long, remember that a donation to your favorite cause can be the perfect last minute gift for your cousin Bill – or you can give to his favorite cause…. If you can find a nonprofit dedicated to dressing squirrels like pirates!