According to a study by the Harvard Business School, the benefits of giving do not just go to those receiving the charity. Their research revealed ways in which those who give to charity are also helping themselves in important ways. Here are some of the things that the Harvard researchers found out about the benefits of charity to the giver:
From a purely financial perspective, giving can be good for your bottom line. That is because much charitable giving can be deducted from your state and federal income tax bill. These deductions are designed to encourage people to donate to charitable organizations and non-profit groups. You can also deduct for certain expenses you incur while helping the charity, such as any travel expenses and fees that the charitable organization does not reimburse you for.
Greater Independence of Action
All of us engage in forms of charity through taxation, as the government collects money for various social programs. Yet, we may not always agree with where that money goes or how it is spent. However, when you give voluntarily to charity, you get to direct it in whatever direction you like, to whatever groups you believe will do the best job. Some organizations, such as Unicef’s charity gifts, even provide you with different gift packages that can be tailored to whatever area of giving you want to focus on.
Better Social Awareness
The work of charitable organizations are a reflection of many of the major social problems in the world. Donating to a charity usually gives you more of a front line view of these social and political problems, insights that you simply couldn’t get without interacting with the charities devoted to those issues. Soon you will find that you can discuss these societal problems from a more educated and nuanced position, perhaps even coming up with informed solutions of your own.
When you become involved with charitable giving, you will find yourself meeting all kinds of people you might otherwise never come into contact with. This expanded social circle can produce all kinds of benefits, ranging from new friends, new experiences and even perhaps new business and job contacts. Charitable activity also looks great on a resume and can enhance your career.
So don’t be afraid to give generously, and be prepared to reap the benefits as well.