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Women Are Giving Thanks by Giving Back

| November 13, 2023

As a woman, you’re well versed in the practice of giving (giving your time, energy, expertise, support, etc.), so you probably already know how giving can enhance your life while improving the lives of others. But did you also know women are more likely than men to engage in giving activities – often citing the desire to make the world a better place? But, unfortunately, supporting those desires for a better tomorrow usually comes with a price tag.

As women come to control a larger share of wealth, they are making a more significant impact on issues important to them. That said, you don’t have to be wealthy to be charitable, and women are just as likely to contribute in ways other than giving money (such as volunteering time or raising awareness for social causes). So, in the spirit of giving back, we’d like to offer some charitable giving insights in hopes they might be helpful to you.

Of course, not every woman donor will prioritize women’s and girls’ causes in her giving. But support for organizations dedicated to empowering women illustrates the growing influence women have on charitable giving.

For a multitude of reasons, many women choose to give thanks by giving to those less fortunate. Some have had personal experiences that result in their desire to help those experiencing financial distress. Others seek to help resolve the inequities in our society that so many have faced during these difficult times.

According to a 2022 report by Indiana University’s Women’s Philanthropy Institute, the number of women who choose giving as a means to support equality is significant:

  • 61.1% of U.S. households engaged in giving to social movement organizations.
  • One in four households gave money directly to organizations that support racial justice.
  • 50.3% of women became involved in charitable giving to promote equality.

There are various ways to give, including Indirect giving and providing financial resources for others by ‘paying it forward’ during times of need. Examples of indirect giving include:

  • Buying gift cards from a business for later use.
  • Making individual lunches to distribute to the homeless.
  • Paying one month of someone’s electric bill.

Still, others want to provide ongoing philanthropic support to charities that help make the world a better place through socially responsible investing. To be considered socially responsible, the investment must also be sustainable over time, profitable for investors, and the companies represented need to be viable entities. The main goals of socially responsible investments are to make a social impact and a profit. Socially responsible and sustainable investing soared in 2020 and 2021 due to COVID-19 and is predicted to be a widely used strategy to benefit others in years to come.

During this time of giving, there are other ways you can contribute without spending money:

  • Check in on others by calling, texting, or visiting them in person.
  • Run errands or do chores for others, such as picking up groceries, raking leaves, or shoveling snow.
  • Donate surplus food items to a food pantry.
  • Give blood (many blood banks run low during certain seasons).
  • Provide much-needed items from the extra supplies you may have on hand, such as paper goods and cleaning products.

Experience has shown us that giving and volunteering connect you to others, benefits your mind and body, and can bring fulfillment to your life. And that’s something we can all be thankful for. So, this season as we pause to reflect on our blessings and think of others less fortunate, consider making giving a part of your financial plan. Call us to explore how charitable giving can benefit you while helping others. 

Courtesy of Fresh Finance.