Money Management Tips: How to Deal with Fundraiser Fatigue
Sign up for our FREE Monthly Email Newsletter
In addition to keeping in the financial know, you may be interested in checking your credit score and report.
¹The credit scores provided under the offers described here use the Equifax Credit Score, which is a proprietary credit model developed by Equifax. The Equifax Credit Score and 3-Bureau scores are each based on the Equifax Credit Score model, but calculated using the information in your Equifax, Experian and TransUnion credit files. The Equifax Credit Score is intended for your own educational use. It is also commercially available to third parties along with numerous other credit scores and models in the marketplace. Please keep in mind third parties are likely to use a different score when evaluating your creditworthiness. Also, third parties will take into consideration items other than your credit score or information found in your credit file, such as your income.
²The Automatic Fraud Alert feature is made available to consumers by Equifax Information Services LLC and fulfilled on its behalf by Equifax Consumer Services LLC.
³Equifax Credit Report Control™ is only available while you have a current subscription to Equifax Complete Premier. Locking your credit file with Equifax Credit Report Control will prevent access to your Equifax credit file by certain third parties, such as credit grantors or other companies and agencies. Credit Report Control will not prevent access to your credit file at any other credit reporting agency, and will not prevent access to your Equifax credit file by companies like Equifax Personal Solutions which provide you with access to your credit report or credit score or monitor your credit file; Federal, state and local government agencies; companies reviewing your application for employment; companies that have a current account or relationship with you, and collection agencies acting on behalf of those whom you owe; for fraud detection and prevention purposes; and companies that wish to make pre-approved offers of credit or insurance to you. To opt out of such pre-approved offers, visit www.optoutprescreen.com/.
4We will require you to provide your payment information when you sign up and we will immediately charge your card $4.95. After that, we will charge the card $19.95 for each month you continue your subscription. You may cancel at any time; however, we do not provide partial month refunds.
Equifax® is a registered trademark and Equifax Complete™ Premier is a trademark of Equifax, Inc. © 2014, Equifax Inc., Atlanta, Georgia. All rights reserved.
Your neighbor is running a 5K for a worthwhile charity and hopes you’ll sponsor her. A nonprofit agency to which you’ve donated in the past keeps contacting you about additional gifts. A coworker is collecting funds to buy a milk-producing goat for a needy family across the globe.
These are all good causes, but donation requests that come one after the other can really put a strain on your budget. After a while, you have to say no to someone, so what do you do when you can’t afford to donate any more cash?
The following money management tips will help you give to charities without breaking the bank.
Develop your own donation policy. This works particularly well for friends who repeatedly ask for sponsorships. Decide in advance on some personal guidelines for charitable gifts, and mention them when a friend asks for help a second time in one year.
For instance, your standard response might be, “I only donate to one organization or program per friend, per year.” Or you might get selective about causes, saying, “I only donate to programs that benefit children (or cancer, or whatever is close to your heart).” And remember that it’s always OK to say “no”—with or without a reason. A simple statement of fact—without lots of explanation—is just fine: “I love what you’re doing, but I just can’t make a donation right now.”
Set money limits. Our daughters (who are often our most persistent donation-requestors) know that we have a set amount we’ll donate per year to each kid’s projects. I just ask my daughter, “Do you want me to sponsor you for your school jog-a-thon or the cancer walk—or a little for both? Here’s how much I’ve got to spend.”
You can do something similar for folks outside the family, too. Decide up front how much you’re willing to give annually to special donation requests, and earmark the amount for that reason just as you would for gifts or car repairs. As friends, neighbors, or colleagues ask for pledges or donations, give until your special donation category is depleted. When it’s gone, you’re done for the year.
Develop tiered giving. You can’t always donate to everyone’s causes equally. In that case, consider a tiered approach. Perhaps give a standard $25 to extended family members (nieces, nephews, sisters-in law, and so on) and close friends, but only give $10 to neighbors’ kids, work colleagues, and acquaintances.
Acknowledge that your bigger giving priorities may change. Maybe you sent a generous check to a particular health advocacy organization after your elderly parent died of that ailment. Now you’re on all of its mailing lists and get regular phone calls asking for more money. Do the charity a favor and be honest: When you receive a call, tell the representative that your donation priorities have changed and that while you appreciate the charity’s work, you’d like it to take you off its calling and mailing lists. This is a good thing: You’re saving the nonprofit the unnecessary expense of contacting a nonviable donor.
It can be hard to turn down a request for a donation to a worthy cause, but remember that you can only give so much. If you have strong feelings about an organization but don’t have the cash to spare, consider volunteering your time instead of your money.
Equifax maintains this interactive forum for education and information purposes in order to allow individuals to share their relevant knowledge and opinions with other members and visitors. We encourage you to participate in discussions about personal finance issues and other topics of interest to this community, but please read our commenting guidelines first. Equifax reserves the right to monitor postings to the forum and comments will be published at our discretion. Do you have questions or comments about your Equifax credit report or customer-service issues regarding an Equifax product? If so, please contact Equifax directly. All opinions and information expressed or shared in blog comments are solely those of the person submitting the comments, and don't necessarily represent the views of Equifax or its management.