Earthquakes, fires, you name it, everywhere we turn it seems people are doing and donating whatever they can to help others in the wake of tragedies. I live in Las Vegas, which is a very charitable community. Charitable giving is popular here. I often donate both money and my time to causes that speak to me personally.
So that got us thinking about what we can all do when it comes to being philanthropic while staying within our budgets.
By definition, a philanthropist is anyone who gives of their time, talent or treasure to make positive change happen for humanity regardless of their wealth or status. But contrary to popular belief, philanthropy does not need to be limited to being wealthy.
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There are a number of strategies that allow any of us to make an impact, says financial planner Catherine Scrivano, and she’s here to help us with those strategies.
“Philanthropy is the $10 word. Other words we could apply are charity, generosity, and those are not limited to wealthy people. Whatever we call it, we’re just talking about the impulse to give and to share.”
Catherine is also a regular contributor to The Women’s Eye Podcast for our Building Money Power series. She is happy to report on this podcast that many people want more out of life than just amassing wealth.
“They’re looking beyond their personal and professional goals to living a life of significance and meaning,” she says.
A self-described “statistic nerd,” Catherine says it was reassuring to learn that a 2024 Bank of America study found the vast majority of affluent Americans–“over 90 percent”-do donate to charity.
“What did surprise me is that women are more likely to donate than men, and when they do, they give a larger percent of their income and spread it across more organizations.”
Catherine explains the pragmatic reasons for being charitable and simple donating strategies that won’t break our banks, including:
- You can afford to give small donations in a systematic way from a bank or payroll account.
- You can list a charity as a beneficiary with a life insurance policy.
- There are social giving circles where members all contribute a set amount of money.
- It costs nothing to donate your time and your talent.
Catherine also offers advice on how to research where your donated dollars are going, which is always good to know. She says donate or give whatever is meaningful to you.
“For some people, a dollar is too much, but an hour is something they can give, if that is meaningful.”
You can get more practical financial advice from Catherine Scrivano from her Building Money Power podcasts with me here.
Catherine says,
“You don’t have to be wealthy to be wise.”
For more information about Catherine Scrivano:
Website: www.cascofinancial.com
LinkedIn: Catherine Scrivano
Facebook: Casco Financial Group
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