It seems many of us are in the giving mood this time of year. Research indicates it's individual donations that keep non-profits thriving year after year. When you assess the appeals flooding your inbox, how do you determine where to contribute? We've previously discussed the significance of evaluating the organizations you support and how larger donations can be more beneficial than numerous small ones. However, there's more to consider. In an article, a writer outlines seven insightful strategies that resonate.
One suggestion is to harness your social connections to amplify your impact by informing three friends about your donation, encouraging them to contribute or spread the word. Also, remember that the most deserving causes might not have the flashiest websites. Furthermore, give until it feels significant. For instance, those earning between $100,000 and $200,000 typically donate around 2.6% of their income, while those making over $200,000 give approximately 3.1%. Interestingly, the highest percentage of donations relative to income comes from those with the least financial resources.
As we approach this season — and all year round — it's essential to keep this perspective in mind.
Let's Reduce Waste, Too
Consumer habits often lead us to overindulge during the holidays. Paying $10 for decorative wrapping paper that will end up in the trash? Absolutely! Snagging 50% off decorations you can't fit on your tree? Sounds enticing! And that buy-one-get-one-free turkey deal for a couple? Sure! While some offers may seem appealing, the excess can harm our planet. According to the Environmental Protection Agency, around 8.8 million tons of plastic end up in the ocean annually. Additionally, Americans waste approximately 200 million pounds of turkey meat during Thanksgiving, as reported by the Natural Resources Defense Council.
If these figures make you rethink your plans for plastic dinnerware for your upcoming gathering, there's good news. The Washington Post has shared various practical suggestions to minimize holiday waste. My personal favorite? Using the NRDC's Guest-imator tool, which helps you calculate the right amount of food for gatherings so you won't overspend or have leftovers. You can input guest count, eating habits, and whether you want leftovers. Explore more tips here.
Gift Return Rates
In other holiday news, last year's data suggested that over 25% of gifts were returned. Our colleagues at Consumer World regularly updates noteworthy return policies. Notable changes this year include Amazon covering return shipping for items purchased via voice commands with Alexa. Walmart allows customers to skip long return lines by using their app to scan receipts and complete returns at express lanes. Additionally, Apple products bought from Target now have a 15-day return policy instead of 30. Regardless of these changes, remember the classic return guidelines: avoid returns the day after Christmas, keep all receipts, and don't remove tags or take things out of boxes if you plan to return them.
Understanding Annuities
Annuities can be complicated, but a recent explanation simplifies them greatly. It breaks down immediate annuities, fixed annuities, variable annuities, and indexed annuities, complete with questions to ask salespeople. If you're curious whether an annuity suits your needs, consider listening to this podcast episode, where a discussion on this topic takes place.
