Donating money to charity not only brings a smile on the face of a needy but it also gives you a powerful sense of satisfaction. Donating is a generous act that kindles the brain’s reward centres making you more healthy, happy and productive. Whether you have altruistic motives, or you are interested in tax benefits, you can end up reaping a lot more than you give when you donate to charity.
Here are the five positive effects of charitable giving:
- Improves Your Health
A wide range of studies associated different types of generosity with good health. As per a research published in Prevention, when a person does not involve in a charitable giving, he or she is 30% at higher risk of death following a traumatic or stressful life incident than someone who helps others. It does not mean that you have to do a lot. But sometimes it is the little things that make all the difference, like Donating to an orphanage, cooking food for a sick friend, helping the blind cross the road, or donating to a local shelter. Being charitable will improve your mood, reduce your stress, lower heart rate, increase positive energy, lower blood pressure and boost the immune system.
- Makes Your Life More Meaningful
When you give donations, you will get chance to meet more benevolent people. And meeting with alike people will infuse your daily life with more meaning. Taking out some time of your daily works, personal or professional, and involving in the donation can refresh your life.
- Keeps You Away from Stressors
There is a Chinese saying that goes: “If you want happiness for an hour, take a nap. If you want happiness for a day, go fishing. If you want happiness for a year, inherit a fortune. If you want happiness for a lifetime, help somebody.” When you understand the problems of other people and try to help them to come out of a disturbing situation, it naturally helps to eliminate your life’s stressors. Also, donation helps to ease the personal anxiety or stress you may be feeling because now you are directing your attention outward and onto someone else. Also, doing good karma like charity also goes a very long way.
- Lowers Your Tax Burden
It is a known fact that donations to charitable groups and non-profit organizations can reduce your tax burden at the end of the year. If you give an IRS-approved charity, you can report the charitable contributions in your taxable income. If you don’t have cash, you can donate furniture, clothing and other items to the donation. Later, you can also claim the value of these goods as a deduction. However, if you have donated a bond, mutual fund shares to a charity directly, you will not owe capital gains taxes.
- Protects Your Local Community
Donating money to local community organizations not only helps alleviate hunger, poverty and homelessness but it also improves community life by encouraging sociability, honesty and trust among residents. Giving money to charity foster enhanced joy, cooperation, goodwill, health, prosperity and strong communities, according to the Heritage Foundation.