Manage Your Money Better-So You Can Give More
By Dee Jernigan
During the fourth quarter of the year, many of us begin to reflect
on what we’ve accomplished thus far—and what we’d still like to
accomplish before next year. It’s not too late to make a meaningful
impact in 2018. With the season of giving fast approaching, we’ve
compiled several easy-to-implement ways to maximize your charitable
BUDGETING—WHERE GIVING BEGINS
To effectively give more to your favorite charitable cause, you first
must be able to free up more funds within your budget. It can be as
purposeful as forgoing your daily designer coffee, or as effortless as
rounding purchases up to the nearest dollar and putting the extra cash
in a designated fund for giving.
MAKE GIVING AUTOMATIC
When you decide to give a certain amount annually, try breaking
down the gift into smaller payments. Some charities allow for a
specified amount to be automatically deducted monthly, much like
automatic bill payments. This way, your donations are already built
into your expenses for the month and feel less like an “extra.”
DONATE FUNDS YOU’RE NOT ACTIVELY USING
At first thought, you may not think that there are any funds in your
portfolio that are not currently allocated for a specific purpose. But,
if you have investments that have taken a favorable turn during the
recent bull market, you can donate appreciated stocks or mutual
funds. Larger charities are readily able to accept these types of
gifts. Additionally, neither you nor the charity will have to pay the
associated capital gains taxes.
FIND WAYS TO GIVE OTHER THINGS OF VALUE
Money is not the only thing you can donate in an effort to increase
your giving for the year. Charities are often in need of volunteers
willing to give their time, and many crisis relief organizations need
people to donate blood or plasma. Beyond helping others, many of
these types of donations are tax deductible.
If you’re looking for specific ways to increase your charitable giving,
talk to a trusted financial advisor today who can help uncover the best
course for your finances.
Dee Jernigan serves as the Executive Vice President of Franklin Synergy Wealth
Management and Financial Executive with Raymond James Financial
Services. 722 Columbia Ave, Franklin, TN 37064 | 615.236.8310
Wealth management and trust accounts are:
Not FDIC Insured; Not Deposits of the Bank; and May Lose Value
Any opinions are those of author and not necessarily those of RJFS or Raymond James.
Securities offered through Raymond James Financial Services, Inc. Member FINRA/SIPC, and are not insured by bank insurance, the FDIC or any other government agency, are not deposits or obligations of the bank, are not guaranteed by the bank, and are subject to risks, including the possible loss of principal. Investment advisory services offered through Raymond James Financial Services Advisors, Inc. Franklin Synergy Bank and Franklin Synergy Wealth Management are not a registered broker/dealers and are independent of Raymond James Financial Services.