As the world emerges from (hopefully) the worst of the pandemic, several existing issues have been magnified in severity and scale; everything from work, finances, and housing to our emotional and mental health. The state of the world can seem overwhelming, and the constant stream of information, often negative, is often more paralyzing than galvanizing.
Yet there is a way to address social issues and our anxiety about them: charity. Whether it’s a donation of time or money, even a small sacrifice for others has an outsized and positive impact — and it rightfully makes us feel that we have done something worth doing. This can smooth our anxieties and improve our outlook on the future.
Here are a few reasons to consider donating to a new charity this year.
Heal The World
Millions of people have suffered during the pandemic and continue to need help. This is also true of charitable organizations, which have struggled to return to pre-pandemic fundraising quotas while now facing steep inflation and price increases.
People have been saving more and giving less to charities in Canada, The Intelligencer reported.
“Data from RBC suggests that Canadians saved a record amount in 2020, amassing an extra $280 billion. Of those with extra cash in hand, only 17 percent have donated some of the excess funds to charity. The poll also looked at overall giving and revealed that only 12 percent of Canadians increased their donations amid the pandemic, while nearly two in 10 (18 percent) reduced how much they gave to charities,” CanadaHelps.org said in a December 2021 media advisory.
While it’s understandable for individuals to save money for their own families, remember that you can also donate your time as well. Most charitable organizations are looking for extra help as well.
Help Heal Yourself
Donating to charity can not only make a positive impact on society but also on your mental and emotional health.
Various sociology studies have shown that generosity stimulates dopamine, which results in similar brain activity in the regions connected to the experience of pleasure and also reward.
The truth is that when donors understand how their gift directly improves a situation, they feel better about themselves and empowered to do more. It’s one of the oldest truths: By helping those around us, we end up helping ourselves.
Support a Cause Important To You
For many of us, charitable giving is a personal decision, and the organizations one supports often reflect our values and our beliefs.
At the Moez and Marissa Kassam Foundation, we have established five pillars of giving that represent the issues we care about most: healthcare, food security, immigration, housing, and culture.
This helps us focus on the areas where we think we can do the most good. If there’s a cause that you feel strongly about, that’s a great place to start.
At the moment, many possible tax and economic reforms are being discussed by both the Canadian and US governments. Regardless of what that legislation looks like, donors should review their current tax strategy to ensure they take advantage of existing planning opportunities.
Consider setting up a meeting with your financial advisor or CPA to talk about how charitable giving could help your long-term financial plan.
Whatever the reason, consider donating your time or money to an organization that you think is worth supporting. The world is a better place when we all work toward a better future.