Only in the last few years of my life have I started making enough money to have extra money to play with. I have always been a cheapskate and am not usually very generous, mostly because I’ve never had a lot of money. But now my income has gotten pretty high and I feel I should give more money to charity.
I found a web site that said the average American donates about 3.2% of his income to charity, which I’m ashamed to say is way more than I donate. On the other hand, I plan to leave all my money to charity when I die, rather than to relatives, since I have no dependents. By the time I die it’s possible I might have as much as a million dollars to leave behind. Do you think that makes up for a miserly track record of charitable donations while I was alive?
Also, I’ve done charity work in the past and I do it occasionally now. I also donate used items to Goodwill or similar organizations. I’ll cheerfully donate a used item that I could get decent money for on eBay or at a yardsale.
The same website that says the average American donates 3.2% suggests that 5% might be a nice goal, which I agree with. I just can’t get past my fear that I might want that money back some day when times get hard.
What say you?
1- What percentage of one’s income do you think is good to donate to charity?
2- What percentage do you donate?
3- Do you volunteer? And if you do, does it count in place of monetary donations?
4- Do you, like me, fear that you might need that money some day?
5- If I am stingy during my lifetime, but leave a great big windfall to charity when I die, does that make up for it? Thanks