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18 Free Ways to Be a Better Person

Ashley Eneriz — Thu, 26 Apr 2018 09:00:10 +0000

With a crazy schedule and tight budget, giving back is usually easier said than done. However, what if making a difference someone else's life didn't have to be that complicated, time-consuming, or costly? These 18 acts will help you become a better person, and help your community.

1. Bring in your neighbor's trash cans

Sometimes it's the simplest acts of kindness that can make a huge difference. If you're already bringing in your own trash can, then rolling in your neighbor's will just take a few extra minutes. You can also help neighbors along your block who are elderly or have disabilities that make tasks like moving the trash cans a chore. (See also: 12 Easy Ways to Win Over Your Neighbors)

2. Pick up trash at a local park

Have you ever looked around your city or local park and thought it looked a bit dirty? Where I live, the amount of wind we receive makes it nearly impossible to be a trash-free community. Simply picking up a few pieces of litter at your park or anywhere else can instantly improve the appearance of your town.

To get involved on a larger scale, research your city's website for annual trash pickup days.

3. Volunteer at a school or library

Ask your local schools and libraries about volunteer opportunities. Many need readers for story time, especially on fun days like Dr. Seuss's birthday (March 2).

You can also volunteer your time as a tutor. And you don't need to be a 4.0 GPA rock star to help kids with homework after school. It also doesn't need to take up every moment of your free time, either. Just a couple hours per month can make a world of difference. United Way and VolunteerMatch are sites that can connect you to tutoring opportunities and other volunteer gigs near you.

4. Write a nice note

Your encouraging words can mean more than you know. Send some to people you don't talk to regularly, such as old friends and distant family members. You can also send notes to soldiers thanking them for their service through A Million Thanks or to hospitalized children to remind them that they have love and support all over the world through Cards for Hospitalized Kids.

5. Donate books

We all have one too many books lying around. Donate books that you and your family are done reading to local libraries, schools, or to organizations like Books For Africa and Books to Prisoners.

6. Make and deliver a meal

Know of someone who just had a baby or is recovering from surgery? Bring them a meal. If you can't cook, no worries. Even easy-to-make sandwiches like peanut butter and jelly or turkey with cheese would be welcomed and appreciated by someone who doesn't have the time or energy to prepare meals for themselves.

7. Send old tech gadgets to soldiers

Your old cellphone or iPad aren't worth that much anymore, but you can still donate them to individuals who will get great use out of them. Cellphones for Soldiers accepts older phones, smartphones, and tablets and gives them to service members as a way to connect with family members while serving.

8. Donate Blood

Most healthy individuals are qualified to donate blood. Hospitals always need more blood, and your blood donation can save a life. Find a local blood drive near you through the American Red Cross.

9. Offer free baby-sitting

If you know a couple with a kiddo or two who could use a night out on the town, offer to watch the kids for them. This way, the parents will get some much needed alone time, and won't have to pay anyone to watch the kids.

10. Donate nonperishable food to shelters

Take a look in your pantry. Is it overflowing with canned or boxed foods you know you won't eat? Pass the unused, unexpired, non-perishables to someone who will. Put your ZIP code in Feeding America to locate your nearest food bank.

11. Play with pets

Contact your local animal shelter to donate your time caring for animals. Some areas need help with cleaning, while others just need help socializing potential pets. Start by calling your nearest shelter or by visiting the Animal Humane Society for nearby opportunities. Plus, you're never going to regret spending a few hours playing with dogs and cats.

If you have a child who needs to practice their reading skills, your child could read to pets who haven't yet been adopted as a way to provide them comfort before their forever family takes them home.

12. Donate blankets and towels to animal shelters

If you don't have time to play with pups and kittens, you can still help out through donating old blankets and towels. Animal shelter staffers are constantly cleaning up after animals in their care, and also trying to keep them as comfortable as possible. Old towels and blankets are an ongoing necessity for them.

13. Serve food at a soup kitchen

Many individuals will volunteer time to pass out food during the holidays, but soup kitchens and food banks need help year-round. This is a great way to give back to your community alongside your friends and family, and usually the time commitment is minimal. Get everyone you love together and lend a helping hand.

14. Donate gift cards

Is your wallet full of gift cards with weird value amounts on it or with gift cards to stores or restaurants you would never visit? With CharityChoice, you can donate your gift cards and store credit to over 1,000 charities. (See also: How to Use Up Remaining Balances on Prepaid Gift Cards)

15. Donate your miles

Like gift cards, sometimes you end up with unused air miles that aren't enough to cash in for travel or items. Instead of trading your miles for a subscription to a magazine you won't read, donate them to a worthy cause. For example, United members can donate their miles to Hero Miles which gifts airline tickets to wounded, injured, or sick military members to see their family. (See also: 6 Ways to Sell or Donate Your Airline Miles)

16. Knit blankets or hats

Put your knitting or crochet skills to use by creating goods for others. Knots of Love accepts homemade hats for chemo patients, and Binky Patrol accepts handmade blankets for those in need.

17. Donate your shoes or eye glasses

Organizations such as Soles4Souls and Give Your Sole give lightly worn shoes a new life by donating them to those in need.

Don't trash your old eye glasses, either. Donate them to Lions Clubs, an organization that cleans and sorts used glasses by prescription strength to donate to low- and middle-income communities.

18. Shop through AmazonSmile

Now your Prime orders can benefit your favorite charity. Every time you shop through AmazonSmile, a portion of your purchase will go to the charity you select. You can even see how much you donate over time to your charity through regular shopping and how much your charity receives overall. Your organization of choice gets rewarded for you buying something you were already going to purchase online. (See also: 7 Amazon Prime Perks You've Forgotten to Use.)

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This article is from Ashley Eneriz of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

Where to Invest Your Money After You've Maxed Out Your Retirement Account

Tim Lemke — Tue, 10 Apr 2018 08:00:06 +0000

Are you a super saver? Have you managed to contribute the maximum amounts allowed into your 401(k) or individual retirement accounts? If so, you may now be wondering what to do with any additional money you have. Should you continue to invest? If so, how? Should you spend it on a Picasso painting or give it to your kids?

There are many options for people who have maxed out their retirement contributions. Here are some of them.

Taxable brokerage account

I'm a huge fan of the tax-advantaged nature of retirement accounts, but regular taxable brokerage accounts have their good qualities. For one thing, they are more flexible than retirement accounts. There is no limit to what you can invest in a taxable brokerage account, and while you will pay tax on any dividends and capital gains in these accounts, there is no additional penalty for withdrawing money before you retire. If you collect dividends from investments in a taxable brokerage account, they can be a great source of extra income.

Real estate

If you've put as much money into retirement accounts as you can, why not take a look at buying a property or house as a possible investment? Real estate can appreciate in value just like stocks, and you may even be able to draw income from tenants as well.

Investing in real estate is obviously different from investing in stocks or bonds. In this case, you are investing in actual property. There may be more costs upfront, and you may face the expense and work associated with managing it. But there are many people who have gotten wealthy by buying and selling properties.

It's worth noting that under the new tax law, you can't claim a tax deduction for mortgage interest from a second home. But the potential for real estate to rise in value and generate income is still a powerful thing. (See also: The Only 5 Rules You Need to Know About Investing in Real Estate)

Peer-to-peer lending

Did you know it's possible to make money directly off other people's borrowing? With peer-to-peer lending, an individual can use an online platform to purchase someone else's debt and make money off the interest payments. The money you can earn is based off the riskiness of the loan; more creditworthy borrowers will pay out less than those with worse credit.

There is always the risk of borrowers defaulting on loans, but most lenders have found good returns by purchasing a "portfolio" of loans at various risk levels. Lending Club and Prosper are two of the most popular peer-to-peer lending platforms. (See also: How to Make Money With Peer-to-Peer Lending Service Prosper)

Education savings accounts

If you have children or other relatives that will be going to college, you can help fund their education and receive some tax benefits for yourself. A 529 college savings plan is a popular option, because it allows someone to invest money and withdraw the gains tax free, provided the funds are used to pay for college. In many instances, the contributions are also deducted from your taxable income. The new tax law allows 529 plans to be used for other education expenses, such as private high school, as well. (See also: The 9 Best State 529 College Savings Plans)

The bank

It may seem silly to just put money in a simple savings account when interest rates are still quite low. But it's possible that, in an effort to max out your retirement accounts, you've been neglecting your cash savings. Having a good amount of cash on hand can give you a nice cushion in the event of an emergency and prevent you from raiding your retirement accounts. If you don't have at least three months' worth of expenses saved, it's a good idea to bolster that savings. Once you hit three months' of expenses saved, go for six. (See also: The Best Online Savings Accounts)

It's actually not uncommon for people of high net worth to have cash flow problems, because they focus so heavily on investing their money. If you are maxing out your retirement contributions, you're doing great. There's really nothing wrong with having more cash on hand than you may need, and you may find that it gives you some nice peace of mind.

Collectibles

I am personally not a huge fan of collectibles as an investment, but they can be useful as part of a broad portfolio. A savvy, knowledgeable collector can make good money on things like art, antiques, trading cards, or even classic cars. And collecting can be good fun. Just be aware that the returns on collectibles rarely top what you can get in the stock market. (See also: 10 Collectibles That Almost Always Become More Valuable)

Donations to charity

You may think that once you've maxed out your retirement contributions, there are no more tax breaks to be had. But you can get a tax deduction for donating to most charities. So you can feel good about supporting a worthy cause while helping yourself financially.

The one caveat here is that under the new tax law, it may be financially smarter for people to take the standard deduction rather than itemize. This could make donating to charity less advantageous from a tax perspective.

Gift it to family

If you are very wealthy and expect that your children or other family members will inherit your money when you die, it may be a good idea to begin transferring that wealth now to avoid taxes. Under the new tax law, the exemption for gift and estate taxes — the amount you can give away in your lifetime — is $11.2 million per individual. Married couples can transfer double that amount, or $22.4 million. It's also possible to make an annual gift of up to $15,000 per person (married couples can gift $30,000 per recipient) without paying taxes.

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This article is from Tim Lemke of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

8 Ways Retirees Can Spring Clean Their Finances

Tim Lemke — Wed, 28 Mar 2018 09:00:07 +0000

So you've finally made the jump out of the working world and into blissful retirement. Congratulations! If you've been careful in your financial planning, you should have plenty of money to sustain yourself for a long time and have a happy post-work life. But even the most well-off retirees could benefit from re-examining their financial situation.

Here are a few ways retirees can get their finances spic and span this spring.

1. Check your spending

After you've spent a large portion of your life amassing a large retirement fund, you may feel like your days of watching every dollar are over. But it's still important to make sure your expenses aren't higher than what your savings can afford. Now that you are home instead of heading to the office every day, you may be spending more on utilities. You may have unreimbursed expenses relating to caring for your grandchildren. That African safari trip may have cost you more than expected.

If you have an annuity or are making regular withdrawals in retirement, it's important to avoid spending more than those payments. Otherwise, you may find yourself lacking in funds down the road. You may be fortunate to live for many more years, but you don't want to go broke along the way. (See also: 6 Ways You Can Cut Costs Right Before You Retire)

2. Meet with a financial adviser

Even retirees who have plenty of money and a good financial plan can benefit from a checkup with an adviser. A good financial planner can help you assess whether your retirement savings are still on track to last and if there are any necessary tweaks. An adviser can also help walk you through any changes to tax laws and explain any changes to the investment landscape. Once you retire, don't just put your head in the sand and assume your money will last as long as you do. A periodic financial check-in with an expert can be hugely valuable to anyone seeking the best retirement possible. (See also: 3 Reasons to Be Picky When Hiring a Financial Planner)

3. Assess your withdrawals

Once you reach age 70 ½, you may be required to make minimum withdrawals from your retirement accounts. The ultimate size of these withdrawals — and whether you decide to start withdrawing sooner — will determine how much you have to live on, and how much you'll have left in your accounts. If you are taking withdrawals already, take some time to determine whether the amount taken out each month is sufficient or too much. (See also: 3 Financial Penalties Every Retiree Should Avoid)

4. Re-examine your will

You remember filling out a will many years ago, but do you remember what it says? Do you still agree with the directives regarding who gets your assets when you pass? These aren't pleasant things to think about, but your family will appreciate it if your wishes are made clear. It may even make sense to discuss this with your children and other family members so there are no surprises or acrimony later. (See also: 6 Times You Need to Update Your Will)

5. Rebalance your portfolio

If you are retired, your investment portfolio should be geared more toward preserving income than growing it. It's OK to own some stocks, but it makes sense to also mix in some bonds, cash, and other more conservative investments. You may think your portfolio is optimized for retirement, but there's a chance it may have gotten out of balance. This is especially true over the last few years when stocks have performed very well.

Everyone, not just retirees, is encouraged to rebalance their portfolios every year. If you haven't taken a hard look at your investments in a while, take the time to see if some smart buying and selling will get you back on the right track. (See also: 7 Reasons to Invest in Stocks Past Age 50)

6. Do a deep dive into your charitable giving

You may finally be in a position to be generous with your money. But are you being smart and strategic about how you are giving to charity?

Charitable donations are not only a wonderful thing to do, they can help you financially by saving you on taxes. If you itemize tax deductions, charitable donations can reduce your tax bill. Donating shares of stock to a charity can help you avoid capital gains taxes. If you are considering donating to charity, come up with a smart plan to support the causes you love as part of a broader tax savings strategy. (See also: 5 Ways Giving to Charity Is Good for You)

7. Assess your health insurance situation

Older Americans can benefit from Medicare, but you may not be eligible if you retire early. And even if you do get Medicare, that doesn't cover every medical expense. Most retirees find that they need to purchase a Medicare supplement plan, as well as additional insurance for eyeglasses, hearing aids, dental work, and other health needs. You'll also need to consider whether long-term care insurance is right for you. Don't assume you are properly insured just because you are eligible for Medicare. (See also: How to Make Sense of the Different Parts of Medicare)

8. Hit the gym and eat better

Exercising may not seem like a financial decision, but in many ways it is. Getting and staying healthy will not only help you enjoy retirement more, but it could help reduce medical bills that may not be covered by insurance. Work to lose weight, lower your blood pressure, and make better lifestyle choices. You may find yourself not only healthier, but wealthier too. (See also: 7 Smart Ways to Invest in Your Health)

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This article is from Tim Lemke of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

5 Alternatives to Charging Your Medical Bills

Kat Tretina — Fri, 23 Mar 2018 09:30:15 +0000

Last year, I ended up in the hospital. The experience was scary, but what was even scarier were the massive hospital bills that started pouring in once I got home. I quickly exhausted my emergency savings and, out of options, I turned to my credit cards to pay the remaining bills.

It was a costly mistake. The high interest rates on my credit cards caused my balance to balloon, and I ended up paying back far more than I originally owed. It was a hard-learned lesson that cost me thousands.

If you're like me and facing serious medical bills, it's important to know that there are other options available to you that are less costly. If you need help, here's what you need to know before handing over your credit card.

The high cost of using credit

The cost of health care is a serious problem for millions of Americans. According to the Kaiser Foundation, 26 percent of U.S. adults say that they or someone in their household had problems paying for a medical bill in the past year, or couldn't pay their bills at all.

For some, an inability to pay means they will put off necessary treatments. For those who went to the hospital, they could leave with huge amounts of medical debt, causing them to fall behind on their other bills or even file for bankruptcy.

Many people turn to credit cards to pay the hospital bills, but doing so is an expensive decision.

According to Bankrate, the average credit card interest rates are currently hovering above 16 percent. That means that the bill you charge can grow significantly over time, adding hundreds or even thousands to your credit card balance.

For example, if you used a credit card to pay for a $5,000 medical bill at 16 percent interest with a $150 minimum payment, it would take you 15 years to pay off your card. You'd pay back over $3,700 just in interest charges, making it harder to get out of debt. As interest accrues, it's easy to end up over your head. (See also: The 5 Biggest Dangers of Credit Card Debt)

The things you can do instead

When you don't have enough money in the bank, a credit card might feel like your only option. However, there are other resources you can use to pay your medical bills that are more cost-effective than a credit card.

1. Enroll in a payment plan

Some hospitals and health care practitioners offer payment plans for low-income patients. With a payment plan, you can split up your bill over several months or even years. You can pay your bill a little at a time, rather than coming up with thousands at once.

Some hospital payment plans might not even charge you interest, or will charge a low rate, making them a much cheaper option than using a credit card. (See also: What to Do If You're Hit With a Huge Medical Bill)

2. Ask about charitable funds

If you can't afford your bills even with a payment plan, ask the hospital's billing department about any charitable funds. Some places have money they set aside to pay for treatment of patients who can't afford to pay the bill themselves.

There will likely be a significant amount of paperwork to complete, and you'll have to submit documentation of your income and expenses. However, spending time completing the forms can end up saving you thousands over the long run. (See also: How to Handle a Massive Medical Bill)

3. Explore outside nonprofit organizations

If your hospital doesn't offer any financial assistance, you might be eligible for aid from a separate nonprofit. Organizations like HealthWell, Catholic Charities, and the Children's Health Fund may be able to help you with your with medical bills. Some offer upfront cash assistance or will even help you negotiate a lower bill.

You can contact United Way's 2-1-1 Information & Referral hotline to find out about programs in your area.

4. Negotiate your bill

Depending on your circumstances, you might be able to negotiate a lower bill. If you cannot afford the total balance, call the hospital's billing department and explain your situation. Ask if they'd be willing to accept a lower amount. In some cases, the hospital may agree to settle the debt for less than you were originally billed. (See also: 7 Ways to Negotiate Medical Bills)

5. Consider a personal loan

If you've exhausted your other options and still need help paying your bill, consider taking out a personal loan rather than using your credit card. If you have good credit and a stable income, you could qualify for a loan with an interest rate as low as 5 percent. And, you could choose a longer loan term, making your payments more affordable. (See also: 5 Times Personal Loans May Be Better Than Credit Cards)

Exploring your options

Before reaching for plastic, make sure you have researched all of your available payment options. Using a credit card to pay for your medical bills can end up costing you thousands more than you originally owed. (See also: Never Use Your Credit Card to Pay for These 10 Things)

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This article is from Kat Tretina of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

Best Money Tips: Ways to Give More to Charity in 2018

Amy Lu — Fri, 12 Jan 2018 09:30:08 +0000

Welcome to Wise Bread's Best Money Tips Roundup! Today we found articles on ways to give more in 2018, effective ways to stretch your meal money, and how to decide if something is worth fixing.

7 Easy Ways to Give Back This Thanksgiving

Christa Avampato — Wed, 01 Nov 2017 08:00:09 +0000

Thanksgiving is coming, and though we should keep helping others in mind all year, the holidays are a special reminder to take care of our community. Here are seven easy ways to give back this Thanksgiving. (See also: Make the World Better With These 17 Free Ways to Give Back)

1. Buy a pre-packed bag at your local grocery store

While you're in your grocery store, you'll likely find pre-packed bags of food that the grocery store will deliver to people in need. Just say you want to add it to your grocery bill, pay for it with your groceries, and the store takes care of the rest! To find out if your grocery store offers this program, just stop by the customer service desk on your next trip.

2. Contact your local food bank

Your local food bank is one of the major sources of food for those in need throughout the year. They often have special holiday donation drives, and they are usually able to find a major donor or corporate sponsor that will match any donations during this time of year. Reach out to your local food bank and ask about any special holiday programs they are running.

Remember, your monetary donation will go a lot further than bringing food to your local food bank because the food bank buys exactly what they need at wholesale prices that are cheaper than what we pay at the grocery store. Also, if you have a little extra time, offer to volunteer for a shift at your local food bank. They always need help during the holidays. This is a great activity to do solo, with a group of friends or coworkers, or with kids. (See also: 8 Charities You Can Trust With Your Holiday Donations)

3. Ask your employer about special holiday programs

Many employers go the extra mile during the holidays. Get in touch with your corporate philanthropy or human resources department to ask about any special holiday programs to give back to the community. Many workplaces match the donations of their employees, provide a certain amount of hours that employees can take off to volunteer throughout the year, and organize team bonding activities that involve local volunteering.

4. Find Amazon wish lists

Many nonprofits have started setting up Amazon wish lists. Last year, I bought needed items from the Amazon wishlist of a homeless shelter in my city. I paid for the items that they needed, Amazon shipped the items directly to the shelter, and then the shelter sent me an acknowledgment letter a few weeks later. It's as easy as that! Contact a nonprofit you love and find out if they have an Amazon wishlist. And if they don't, encourage them to create one! You can also search for a nonprofit's existing Amazon wishlist right on Amazon's site.

5. Be a layaway Santa

Layaway is still a service widely used by people who are on limited incomes and have thin credit files. Next time you're at a store, ask if they have a layaway service, go to the customer service desk, and anonymously put money toward someone's layaway items. Then encourage your friends and family to be layaway Santas, too.

6. Go the extra mile right where you are

Going out to eat, getting your haircut, or ordering food delivery? Add a bigger tip beyond what you normally give. People in the service industry work hard all year, especially during the holidays, and anything extra that you give for great service is always appreciated.

7. Be kinder

We can all use some extra encouragement. Anonymously leave a note with an inspirational quote or compliment on someone's windshield or doorstep in your neighborhood. You may never know how much it means to someone. And just be friendlier in everyday life. Smile, say good morning, hold doors open, or offer to carry someone's heavy bags while holiday shopping. A little kindness goes a long way and it's so easy to offer!

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This article is from Christa Avampato of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

Here's How Generosity Actually Improves Your Life

Annie Mueller — Mon, 07 Aug 2017 08:31:05 +0000

Generosity will not only improve your moral standing, but also your long-term finances. Giving doesn't have to cost money, either; donating your time and skills produces the same effect as giving money or material items. Here's how it could work for you. (See also: Make the World Better With These 17 Free Ways to Give Back)

You'll make better money decisions

Money can be a big source of stress. Maybe you and your partner disagree about the budget. Perhaps you're struggling to reduce debt, dealing with a loss of income, or recovering from a financial crisis. Or perhaps you're trying to determine how to be smart with your savings, become a better investor, and create a better financial future. In any of these situations, you need the ability to calmly and rationally assess your options and make decisions for your future.

Stress has a huge, negative impact on your ability to make good decisions. In fact, stress prompts us to act quickly and instinctively, and reroutes the energy needed by the brain for wise decision-making, according to Stanford health psychologist Kelly McGonigal, PhD. "Stress also encourages you to focus on immediate, short-term goals and outcomes," says McGonigal, "but self-control requires keeping the big picture in mind."

An excellent way to combat stress is to give to others. Whether it's your time, your money, or your unwanted items, giving to those less fortunate will give you a sense of purpose, it will make you feel better about yourself and the world you live in, and can reduce your anxiety. That combination equips you to better handle stress when it does occur, keeping it in perspective. And you'll be able to more calmly and rationally make financial decisions for yourself and your future.

You'll benefit from a stronger support network

Hard times happen, but consistent generosity — whether through volunteering, acts of kindness, or monetary giving — can lead to an extended network and stronger relationships. Meeting people at volunteering events can create lasting friendships. Helping out a neighbor when they need it most will solidify a true bond. And when you need those people to be there for you in return, they most likely will be.

I've experienced the financial perks of having a strong support network many times in my life. For example, during my mother's fight against breast cancer, my friends and family brought food, baby-sat (both my sister and I had young children), ran errands, made phone calls, organized important information, and, when needed, assisted in bedside care for my mom. If I didn't have a loving support system willing to do those things, I would've had to, either do it all myself — which would've increased my stress to an unbearable degree, or I would've had to pay someone to help out — which would've sucked my bank account dry.

A community of friends bringing you meals when you're unable to shop and cook saves you the cost of takeout. When your network pitches in to watch your kids, help you with a big project, or loan you a needed resource, you save the money you'd have otherwise spent to get those things done.

Your work opportunities will improve

LinkedIn is built on the idea that social capital leads to better work and increased work opportunities. We call it networking, mostly. And giving, it turns out, is one of the best ways to network. Even low-key acts of generosity improve work relationships, according to a study from the University of California published in the journal Emotion. Giving mutual support, practicing gratitude, and showing hospitality all contribute to stronger work connections and increased social capital. And with a strong professional network, more job opportunities (and all the financial perks that go along with them) will be aplenty. (See also: The 10 Best Networking Tips for People Under 40)

It's all about who you know, right?

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This article is from Annie Mueller of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

Make the World Better With These 17 Free Ways to Give Back

Emily Guy Birken — Thu, 29 Jun 2017 08:30:16 +0000

Giving back feels good and offers support to those who need it, but it can sometimes feel like the only contributions that make a difference are financial. While donating money to charity or to community members in need is a wonderful way of giving back, monetary donations can be out of the reach of some budgets.

Even if you don't have the finances to write checks to your favorite charities, you can still give back without spending a single dime. Here are 17 entirely free methods of making the world a better place.

In-person volunteer opportunities

Giving your time to a charity or an organization you care about is one of the most selfless ways that you can give back. There are a number of ways to volunteer that will match up with both your interests and the needs of your community.

1. Volunteer Match

Volunteermatch.org brings together local volunteers with local nonprofit organizations that need help. You can search for a cause that means something to you, and offer your time, expertise, or services.

2. Idealist

Idealist.org was created to connect idealists with opportunities for collaboration and action to bring their good ideas to life. With more than 120,000 organizations listed and 1.4 million monthly visitors to the site, you can connect with other people who share your ideals.

3. Elder Helpers

If you'd like to make a difference in the life of a local senior citizen, sign up with ElderHelpers.org to connect with a local senior in need. You could volunteer to help with anything from running errands to gardening and housework to entertaining.

4. Project Sunshine

Volunteers with ProjectSunshine.org bring arts, educational, and social services programming to children living with serious medical challenges and their families. Volunteers can work to create program materials and deliver these programs on-site to the children.

5. Girls on the run

If you love to run, then volunteering with Girlsontherun.org could be a great fit for you. Volunteers coach a group of girls through 10-12 week running programs that include physical activity and a service project. You'll help empower young women to be healthy, confident, and more connected to their communities.

Online volunteering

Believe it or not, you can volunteer your time from the comfort of your home. The internet allows volunteers to bring their skills to organizations that need them, no matter where they are. (See also: 7 Amazing Ways to Pay It Forward for Under $10)

6. Skills for Change

SkillsforChange.com calls itself a microvolunteering site, similar to microlending. Volunteers share which types of causes they care about and what skills they can offer, and the site matches them with organizations that need help.

7. Catchafire

Catchafire.org wants professionals to use their skills to make a difference. You can browse opportunities based on causes, needed skill sets, and time commitment, and then apply for opportunities.

Donating your stuff

While we all know that we can drop off unused clothes and household items at Goodwill or the Salvation Army, there are many more ways that our unwanted items can help others in need.

8. Union & Fifth

Fashion conscious altruists can use their fashion for good with UnionandFifth.com. Simply select which charity you would like to benefit, download a free shipping label, and clean out your closet. Union & Fifth will sell your clothes and send 75% of the sale price to your chosen charity.

9. Dress for Success

Gently used business attire can help disadvantaged women to succeed at work through DressforSuccess.org. Find an affiliate location near you, and drop off your unneeded office wear.

10. Nike Reuse-a-Shoe

Worn out athletic shoes can be given a new life as part of tracks, playgrounds, outdoor courts, or other places to play through the Nike Reuse-a-Shoe program.

11. Soles 4 Souls

This nonprofit program will distribute your gently worn shoes to people in need all over the world. You can find a local drop off location on Soles4souls.org, and you can also organize a shoe drive to increase your impact.

12. National Coalition Against Domestic Violence

If you don't know what to do with your old cellphone or other digital electronics, the NCADV has partnered with Cellular Recycler to collect these items, and refurbish and sell them. The money from these sales goes to support the NCADV programming that helps to stop domestic violence.

13. Cellphones for Soldiers

If you have an old cellphone that is still functioning, donating it to Cellphones for Soldiers will allow a deployed service member the ability to call home.

14. The Make-A-Wish Foundation

This heroic charity works to grant the wishes of terminally ill children. To cover the travel for many of these wishes, Make-A-Wish accepts donations of airline travel miles from certain airlines. This can be a great way to make use of the miles you collect.

Online giving opportunities

Most of us tend to spend our days in front of the computer, so why not use that time to give back?

15. AmazonSmile

This is exactly like the Amazon store you already know, but when you sign on with AmazonSmile, you are allowed to choose any one of over a million 501(c)(3) charitable organizations to benefit from your shopping. Each time you make a purchase, AmazonSmile gives 0.5% of the purchase price to your charity.

16. Free Rice

Rather than taking another '90s-themed quiz, why not take a break with FreeRice.com? This site asks vocabulary, grammar, math, science, foreign language, history, geography, and SAT test prep questions. For each correct answer, the site donates 10 grains of rice through the World Food Programme.

17. The Greater Good

Believe it or not, just clicking on a button can help provide mammograms for underprivileged women, food for hungry people, meals for veterans, therapy for autistic children, research for Alzheimer's and diabetes, books for underprivileged children, and protection to the rain forest. The site the GreaterGood.com offers clickable buttons for each of these issues, and your click will help to provide those services. It takes approximately 45,000 clicks to provide one service, and each user is limited to one click per day, but you can click each issue's button every day. Clicking here once a day can be a completely painless good deed.

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This article is from Emily Guy Birken of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

5 Ways to Turn Credit Card Rewards Into Real Wealth

Holly Johnson — Mon, 22 May 2017 08:30:16 +0000

Using a rewards credit card is an easy way to pocket a few hundred dollars a year in cash back rewards, or earn free travel. And if you're willing to put in the effort, you'll find there are plenty of ways to parlay your points into something more meaningful and long-lasting.

1. Invest your cash back for the long haul

The simplest way to make cash back rewards even more rewarding is to put the money into a retirement account and let compound interest work its magic. For example, we've worked out how to save over a thousand dollars a year using credit cards.

Let's say you banked your $1,000 in rewards and savings and invested them in a Roth IRA each year for 20 years. If you earned an average return of 6 percent, you'd have almost $40,000 after 20 years, before fees.

2. Invest in experiences

Ask any dying person what they value most, and it won't be money they speak of. Most people look back on their lives and cherish the memories they've made — the sight of beautiful places, the laughter of their children, and the life-changing moments they've spent with the people they love.

Travel rewards cards may not help anyone grow rich, but they can help them afford a wide range of experiences that may otherwise be out of reach. An Alaskan cruise may fit into even a modest budget with the smart use of credit card rewards. Meanwhile, a $1000+ economy flight to Europe can be had for as little as 45,000 American Airlines frequent flyer miles, which you can earn with an American Airlines credit card.

Used wisely, travel rewards can help families make memories they'll cherish for a lifetime. At the very least, they make it possible to travel farther, participate in more activities, and stay longer once you're there. (See also: How to Earn a Free Vacation in 9 Months With Credit Card Rewards)

3. Donate rewards to a worthy cause

Even if you aren't remotely interested in spending rewards, you can make a difference. Some credit cards give rewards directly to charities. Other credit card programs let you donate your points to charity, letting you turn your regular spending into a boon for someone else.

While each credit card rewards program works differently, most make it possible to donate your rewards to causes you believe in. And if you don't want to donate through your issuer's official program, you can always simply give the cash back you earn to your favorite charity.

4. Use rewards to pay down debt and save money on interest

If you have credit card debt, you shouldn't be chasing credit card rewards. But if you have other debt that you'd like to pay off sooner, like a car loan, you can rack up cash rewards and make an extra payment each year. This will help you reduce interest on that debt as well as pay it off sooner.

5. Avoid a high-interest loan

If you have a huge expense coming up and need to take out a loan, you can avoid interest payments and earn rewards in one fell swoop. With a credit card that offers 0% APR on new purchases you essentially get an interest-free loan for a limited time.

For example, let's say you plan to finance a roomful of furniture to the tune of $5,000. You want to pay it off over a year or so, and hope to avoid huge interest payments. You can get a card that offers 0% APR for the first 15 months, allowing you to pay off that $5,000 interest free. Remember though that you have to stay committed to your plan to pay off that amount during that period. Rewards cards typically charge higher interest rates. If you don't think you'll be able to pay off your balance, you'll want instead to look into low interest credit cards to keep a handle on your debt. Before you pursue rewards, make sure you're prepared to use credit responsibly.

This article is from Holly Johnson of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

How to Save Frequent Flyer Miles That Are About to Expire

Holly Johnson — Fri, 19 May 2017 08:30:09 +0000

For many of us, earning enough airline miles for that free trip can take a while. Sometimes using a co-branded airline credit card can help speed things up. But while we're waiting to collect enough, we might risk losing what we've already earned. While each frequent flyer program has its own set of rules, most will erase your miles if you don't use them or earn new miles for a period of 12–24 months.

Check your airline's loyalty program to see how long you have before your miles disappear. And if your expiration date is looming, consider one of these strategies.

Join an airline dining program

Since you can "reset the clock" on your frequent flyer miles with even a small purchase, airline dining programs offer an easy way keep your miles alive. While each airline's program includes different restaurants, and the number of miles you'll earn will vary, they all work similarly: You sign up for the program, dine at a qualifying restaurant, then earn bonus miles for each dollar you spend. (See related: Best Credit Cards for Dining Out)

Shop through an airline shopping portal

If you don't want to deal with a complicated dining program or dine at specific restaurants, using a rewards shopping portal is another easy way to save your miles. Nearly all major airlines offer an online mall or portal that lets you earn extra bonus miles for each dollar you spend with e-tailers you access through the site. You simply go to the portal, search for the store you want to shop with, and then "click through" the airline portal to the retailer's site to make your purchase. And remember, any purchase will reset the clock on your airline account. You don't need to spend hundreds of dollars. A simple $5 online purchase (or less!) will do the trick.

Cash in miles for a gift card

While earning more miles can keep your stash of airline currency alive, so can redeeming miles. If you don't have any travel planned or are saving up for a big trip, consider cashing in a small number of airline miles for a gift card. Only certain programs offer this option, and you may also need the program's co-branded credit card to be eligible.

While you usually won't get as much bang for your miles by buying a gift card as you would redeeming them for flights, this can still be an effective strategy for keeping your account active.

Donate miles to charity

Various programs let you donate miles to causes you believe in. Check with your frequent flyer program to see if donating your points is an option and which charities are available. If you aren't going to be able to use your miles, anyway, this is a good way to use them rather than letting them expire.

Buy miles

If none of the other options seem appealing for your situation, there's a final solution to consider: buying miles. By buying miles, you can keep your current stash of airline miles alive.

Unfortunately, it is seldom cost efficient to fork over real cash for airline miles. Then again, it could be well worth spending a small amount to keep a large stash of miles alive if you have no other option.

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This article is from Holly Johnson of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

4 Ways Your Money Can Support Your Values

Emily Guy Birken — Tue, 25 Apr 2017 08:30:08 +0000

Giving to charity is an important line item in my family budget — but it's only one line. There are far more charitable organizations that I want to support than I can possibly give money to.

But what if there were a way to support your values without having to free up more money to give to charity? In fact, there is a way. You can do the same things you always do with your money — bank it, invest it, spend it on utilities, and shop — all while providing important financial benefits to the causes you care about.

Socially responsible robo-investing

I'll never forget the stricken look on my financial adviser's face when I told him I was uncomfortable with big oil, tobacco, or firearms as investments in my retirement portfolio. He took a deep breath and told me that I would probably have to be a little flexible about that if I wanted to maintain my passive investment strategy. The only other option would be to individually choose the investments I wanted so that my money was aligned with my values. Not only would that be expensive and time consuming (someone would have to do the stock picking), but it would not necessarily grow my money.

Passive investors like me now have the option of investing in funds that only go to companies we approve of. The new robo adviser OpenInvest offers investors the ability to personalize the specific issues they care most about. You simply create an "issue profile" that narrows down the types of companies you would either like to invest in or steer clear of. The robo adviser's algorithm then creates a basket of about 60 stocks that match your values and should match the returns of the broader market.

Your money grows just like it would with any investment, but you are supporting companies that reflect your values. (See also: 5 Stocks to Buy If You Love the Earth)

Cellphone activism

It's hard to imagine life without your cellphone — which makes it an excellent tool to help support your values. Simply changing your cellphone provider can make paying your bill part of your activism.

Whether your politics align left or right, you can switch to an activist cellphone carrier that will use a portion of their profits to fund important causes. Credo Mobile is a mobile and long distance provider that has donated $83 million to various progressive nonprofit groups since its inception in 1985. On the right, Patriot Mobile offers conservatives the opportunity to choose the organization that a portion of their monthly phone bill will be donated to.

In both cases, the mobile carrier allows you to keep your phone and phone number when you make the switch. You are already paying for your cellphone usage; why not have the money fund causes you care about?

Shop your values

Amazon has become the most convenient way to handle shopping in the modern age, but did you know it can also be the most convenient way for you to donate to charities you love?

AmazonSmile is exactly like the Amazon store you already know, with the exact same prices and fees, and the exact same login you already use. But when you sign on with AmazonSmile, you are allowed to choose any one of over a million 501(c)(3) charitable organizations to benefit from your shopping. Each time you make a purchase, AmazonSmile gives 0.5 percent of the purchase price to your charity.

While not all purchases are eligible for AmazonSmile, the vast majority are. In addition, there are occasionally limited-time special promotions that increase the donation percentage.

Once you have signed up with AmazonSmile, just make sure you start any Amazon shopping from that page to keep your donations going to your favorite charity whenever you shop.

#BankBlack revitalizes communities

You might remember seeing the rapper Killer Mike on MTV in 2016 asking 1 million people to open a savings account with a black-owned banking institution. That helped start the #BankBlack movement, which is credited with bringing $50 million in new deposits to black-owned banks over a six-month span in 2016, according to the Huffington Post.

But banking with a black-owned financial institution is more than just a hashtag. These institutions were once the only places where African Americans could expect fair treatment when discrimination was rampant in the banking industry. Nowadays, black-owned banks offer access to necessary banking services in distressed neighborhoods, while also providing economic revitalization.

Since black-owned banks specifically market to the African American communities that are disproportionately unbanked or underbanked — meaning they rely on check cashing services and pawnshops for their banking needs — opening an account with a black-owned bank is an excellent way to put your money to work for social justice.

The Blackout Coalition offers a map of black-owned banks and credit unions across the United States, so you can find one near you. Alternatively, if you are not in an area with a local black-owned bank, OneUnited is an online bank that is also the nation's largest black-owned bank.

Put your money where your values are

Not everyone has money in the budget to support the social programs they are most passionate about. But making a few tweaks to how you bank, invest, call, and shop will allow you to make the world a better place without spending any more money. You'll feel good about how your money represents your values, and your favorite causes will benefit from your choices. It's a win-win.

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This article is from Emily Guy Birken of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

Can I Write It Off as Charity?

Ashley Eneriz — Fri, 10 Feb 2017 10:30:37 +0000

A family member of mine has won some pretty sweet prizes through charity raffles. They have won tablets, and even a huge flat screen TV. When I asked them their secret, they said that they buy a lot of tickets, since raffle tickets are tax-deductible.

But wait. Is buying raffle tickets through a charity event really something you can write off on your taxes, especially when you get to take home a prize worth more than $500?

In short, no. More on that in a minute.

Just because you give money to what you consider to be a good cause, doesn't mean the IRS considers it tax deductible.

Here is a quick guide to what you can and cannot write off as charitable deductions.

1. Charity Balls and Fundraiser Buys

Many charities and churches sell fundraiser items, such as gift certificates, cookbooks, or other merchandise. You might think buying such products is considered a charitable contribution. But it's not in the eyes of the tax man. The IRS says that you cannot claim a tax deduction if you exchanged money for goods. "If you receive a benefit because of your contribution such as merchandise, tickets to a ballgame, or other goods and services, then you can deduct only the amount that exceeds the fair market value of the benefit received," according to the webpage.

This means that if you paid $120 for a $100 massage gift certificate in the name of charity, then you can only write off $20 as a donation. For charity balls, many times the organization will tell you if you can write off a portion of your ticket. However, you must deduct the fair-market cost of your meal, venue, and entertainment from the ticket cost — even though the charity may have paid little or nothing for those expenses. In many cases, once you subtract those costs from your ticket price, there is nothing left for you to write off.

So, if you really don't want that cookbook or a night at a charity event, but you want to donate and get a tax exemption, then donate money instead. If you donate cash or a check, make sure you get a receipt. You can also donate online to many organizations with a credit card, which will give you the proper documentation for tax purposes. (See also: Best Credit Cards That Give Back to Charity)

2. Raffle Tickets

Do not make the same mistake my relative made. The IRS guide to charitable contributions specifically states that you cannot write off any raffle tickets, lottery tickets, or bingo games purchased for charity. This is true whether you win something or not.

In fact, these raffle tickets are considered a bet, and you can write it off as a gambling loss deduction. However, you can only write off a gambling loss if you also report gambling winnings that same year. Gambling losses are only deductible up to the amount of gambling winnings, and must be reported on an IRS Form 1040.

3. Race or Walk Donations

Participants in a charity walk or race cannot write-off the entry fee. This is because you are paying to participate in the run or event. If you were to do a non-charity walk or racing event, you would still pay an entry fee.

If you donate money to an event like a cancer walk, not counting the entry fee, you can write it off because this is considered a straight donation. However, it is important to have proper documentation of your donation. Online donations are the easiest way to track your contributions and ensure your money goes directly to the organization.

4. Promised Donations or Pledges

Many charities hold pledge drives or allow individuals to sign up to give a certain amount of money each month. You cannot write off promised donations or pledges that you have not yet fulfilled. For example, if I signed up with Charity A to give $50 a month for a year in November 2016, I cannot claim that I donated $600 to the charity. Instead, I will only be able to write off $100 worth, for November and December. Only the actual money that's left your hands is deductible.

5. Political Donations

No matter who you voted for in the 2016 history-making election, you cannot write off any contributions you made to that party. This applies to all elections, not just the presidential vote. If you gave money to political organizations, you cannot write it off. Period. This rule applies to groups that lobby for law changes, as well.

6. Donated Time or Blood

No, you cannot write off donated time or blood, but thank you for doing so. Your generosity here won't lower your tax bill, but it will make a difference.

7. Donated Frequent Flyer Miles

Donating miles is a great way to make sure they get used for a good cause. However, you cannot write off your donation of miles. The IRS views your miles as a coupon or bonus discount. In the same tune, if you paid for a business trip or a trip for medical reasons with frequent flyer miles, you would not be able to write off the trip as a business or medical expense. (See also: 6 Ways to Sell or Donate Your Airline Miles)

8. Donated Clothing or Household Items

Donating unused items to Goodwill and other charities is a great way to clean out your closet or garage, and get a small tax kickback to boot. However, you are only allowed to deduct the fair market value of the item. For example, if you donated a designer purse that you paid $1,000 for, you cannot write off $1,000. Instead, you would need to claim the resale or eBay value of the item, which might only be $400.

There are a few apps that make tracking donations easier. Turbotax's ItsDeductible app allows you to track donations and will help you figure out the value of the item that you can write off. Donation Assistant Through TaxAct allows you to take photos of items you donate and receipts to stay on track all year long.

Make Sure Your Charities Are Truly Charities

It is important to make sure that you donate to charities that are eligible for tax write-offs. The charity must fall under section 501(c) (3) of the tax code. Don't assume that all nonprofits fit under the charity guidelines. When in doubt, ask the charity for their tax ID number for deduction purposes. (See also: How to Spot a Charity Scam From a Mile Away)

Generally, donations to organizations that are considered public charities are tax-deductible. The IRS classifies most churches, hospitals, qualified medical research organizations affiliated with hospitals, schools, colleges, and universities as public charities. The IRS also allows you to search organizations that qualify to receive a tax-deductible contribution on its site.

This article is from Ashley Eneriz of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

7 Last-Minute Ways to Cut Your 2016 Tax Bill

Mikey Rox — Mon, 26 Dec 2016 10:30:23 +0000

Before you know it another tax season will be upon us. Do your wallet a favor and score all the deductions you can with these last-minute ways to reduce your bill in 2016.

1. Investment Account Balancing

Year-end investment account balancing is a no-brainer. If you have a taxable investment account, you should review your transactions for the year to see if you're in a net capital gain situation. If you are — says Jacob Dayan, co-founder of tax-relief service Community Tax — find some losing positions that will offset the gains and liquidate them by the last business day of December.

"If you wish to remain invested in these assets long-term, you can buy them back after 30 days," he adds. "Note that this strategy also works in reverse, with one difference. If you sell a net-gain position, you don't have to wait 30 days to buy it back. In either case, if you have positions involving multiple purchases over time, identify the specific assets you want to liquidate by purchase transaction to give you the greatest tax benefit."

2. Charitable Donations

'Tis the season to give unto others — if only for the tax breaks. You have until the end of the year to make charitable donations that will count toward your 2016 contributions for tax purposes.

"All charitable donations made to qualifying organizations before December 31 will count toward your 2016 deduction, as long as you itemize your deductions," says Pennsylvania-based certified public accountant William Ray. "Deductions are generally limited to 50% of your adjusted gross income, although additional restrictions may apply for those in higher income brackets. You may also deduct the current fair market value — not your original cost — of noncash contributions made to qualifying organizations. Certain noncash contributions may require additional support or an appraisal, so you should review IRS Publication 526 before claiming noncash contributions."

It's also important to track your volunteer time.

Ray adds, "Although you cannot make a deduction for your time, you may claim a deduction for any mileage driven using your personal vehicle ($0.14 per mile) and any out of pocket expenses that are not reimbursed. As is the case with any deduction, documentation and support should always be maintained for all contributions."

Financial planner Andy Yadro details another option for end-of-year giving.

"Consider contributing to a donor-advised fund," he suggests. "You get an immediate tax benefit and your money can be invested with potential to grow. This is a great last minute option for someone who wants to make a donation, but hasn't decided which charity it should go to."

3. Max Out Retirement Contributions

Were you fortunate enough to get a holiday bonus? Use it to top of your tax-deferred retirement accounts such as an IRA. Even better, kick in a few extra dollars from your regular paycheck. You'll boost your savings while reducing your taxable income. However, be aware of the contribution limits for both types of retirement account.

"If you or your spouse are not covered by a retirement plan through your employer, you're both eligible to contribute up to $5,500 each to an IRA ($6,500 if you are over age 50)," Ray says. "You may be eligible to make a contribution, even if you are covered by a retirement plan through your employer, depending on your income."

You also have until April 15, 2017, to make this contribution and still have it count toward your 2016 taxes. However, it's highly recommended that you do not file your tax return until you make the contribution. If you claim the deduction but cannot pay, you'll need to file an amended tax return by April 15, 2017, or pay penalties and interest.

4. Pay Your State or Local Income Tax Bill Early

If you itemize deductions, you can claim a deduction for state income taxes paid during the calendar year. This includes any amounts paid for your 2015 tax liability that were paid in calendar year 2016.

"If you consistently owe taxes on your state or local tax returns, paying them early can result in immediate federal tax savings," Ray explains. "States and localities allow you to make estimated tax payments or prepayments at any time during the year. If you make a payment before December 31, 2016, that payment can be deducted on your 2016 federal tax return. But be careful of overpaying. If you overpay and receive a state or local income tax refund, you will need to claim that as income on your 2017 federal tax return."

5. Make January's Mortgage Payment in December

One of the joys of homeownership is taking advantage of the various tax breaks the government provides. The biggest of these is the mortgage interest deduction. If you can spare the extra cash, consider making your January 2017 mortgage payment before the end of the year. You'll be able to deduct the mortgage interest on your 2016 tax form. Don't get greedy here, though. Tax law generally prohibits taking annual deductions on "prepaid interest," so you won't be able to pay February's mortgage bill and claim that for 2016, too. For more on the tax advantages of homeownership, see the Tax Policy Center's analysis. (See also: 4 Tax Deductions New Home Owners Shouldn't Skip)

6. Review Your Health Coverage

If you're covered by a high-deductible health plan, you may qualify for a Health Savings Account (HSA) and contribute $3,350 ($6,750 for a family) to the plan — all of it tax-deductible.

"Many employers now offer high-deductible health plans, meaning employees often have to pay thousands toward a deductible before their health coverage kicks in," Ray says.

To offset this cost, you may qualify for an HSA.

"An HSA is basically a 'retirement account for health care' and is becoming more common each year," Ray continues. "The HSA allows you to contribute to an investment account that can grow tax free over time, while receiving a deduction on your tax return. You even receive a deduction if you don't itemize. The account can then be used to cover qualifying medical costs. Unlike a Flexible Spending Account (FSA), an HSA is 'your money' and can grow over time, rather than being forfeited at the end of the year."

Check with your employer to see if your plan qualifies for an HSA. (See also: 11 Surprising Things Your HSA Will Cover)

7. Prepay Real Estate Tax

If you foresee a changing income situation, supplement next year's loss with a right-now gain. Yadro suggests prepaying your real estate taxes and taking the deduction now.

This article is from Mikey Rox of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

8 Charities You Can Trust With Your Holiday Donations

Ashley Eneriz — Fri, 09 Dec 2016 11:00:15 +0000

'Tis the season for giving, and giving to charity is the perfect way to help those in need while also helping yourself to a tax break. But how do you know which charities are the best? There are thousands of great charities out there doing amazing things with donated money, but there are also shady charities that are just out to get your money.

Here we have collected some of the highest rated charities according to Consumer Reports and Charity Navigator. Whether you are an animal lover or want to help countries in need, there is a charity supporting that cause. Don't see a charity for you on the list? Check out Consumer Reports' full list of the highest and lowest rated charities in each category. (See also: Best Credit Cards That Give Back to Charity)

For Animal Lovers

Our furry friends need our help!

1. World Wildlife Fund

The World Wildlife Fund (WWF) allows animal lovers to donate money to help species of wild animals. A $55 donation allows you to help wildlife while also earning you a small animal plush of your choice, photo, adoption of certification, species card, and gift bag. This charity is a fun one if you are looking to give a donation in lieu of a gift, since the WWF donation comes with a little gift.

2. Petsmart Charities

Petsmart Charities is very upfront with how they use donations to make an impact in pets' lives. The site says they save 400,000 pets each year. In 2015, more than $29 million went to animal welfare groups and 214,000 spay/neuter surgeries were performed. They also used 90 cents of every dollar donated to help pets directly. Individuals can donate money or volunteer with Petsmart Charities.

For Environment Protectors

Because the Earth needs us to protect it.

3. Amazon Conservation Association

The Amazon Conservation Association received a perfect score through Charity Navigator, a website devoted to helping individuals find legitimate charities and avoid inefficient charities. The charity has been around for over 15 years and conserves the Amazon. The site says a $50 donation can plant about 50 trees in a highland Andean community.

For Helping People in Need

Not everyone has a roof over their head or enough food to eat.

4. Direct Relief

Direct Relief is a nonprofit, nonpartisan organization that seeks to help and improve the lives of those affected by poverty and emergency situations. It has been one of the top charities to help with Hurricane Matthew and Syrian refugees. It has been voted as a top charity by Forbes, Fast Company, and BBB. Direct Relief also has an option to donate in tribute to someone else, which is practical for holiday gift giving.

5. Compassion International

One of my favorite organizations to donate to is Compassion International because you are able to sponsor a child. Not only do you get to choose the child you sponsor and send money to, but you also can send letters, pictures, and small gifts to them. In return, you will be given a picture of the child, as well as updates, and sometimes thank you letters. Many donors have even had the opportunity to go and meet their sponsored child. (See also: 15 Ways to Give to Charity That Fit a Holiday Budget)

For Health Advancement

A cure is out there. We just need to give scientists the chance to find it.

6. Michael J. Fox Foundation for Parkinson's Research

The Michael J. Fox Foundation for Parkinson's Research goal is to eliminate Parkinson's disease. Over $87 million went straight to research programs in 2015. Overall the foundation has funded more than $650 million to find a cure.

For Veteran Support

After protecting our freedom, our veterans should have everything they need.

7. Homes for Our Troops

Homes For Our Troops (HFOT) is a privately funded 501(c)(3) nonprofit organization that builds mortgage-free homes for severely injured veterans. Since 2004, HFOT has spent 90 cents for every dollar donated on veterans. The organization has already built 226 homes and has another 80 projects underway nationwide.

8. Operation Homefront

Operation Homefront matches specific veterans needs with donors. Donors can donate money or in-kind gifts, such as services or items. Operation Homefront accepts donated in-kind services to include, but not limited to, legal support, automotive repair, heating and air conditioning services, roofing, and accounting services. Donated goods may be items such as gift cards, household items, children's books, furniture, computers, or any other non-monetary items that are new or like new.

How to Avoid a Charity Scam

There are several more amazing charities out there, so don't think that this list is the end all, be all. However, it is important that you know how to spot a charity scam. Here are some quick tips to keep in mind:

Charities should be upfront with what they are using the funds for.
Charities should have a federal tax ID number so you can write off your donations.
It's a huge red flag if they are pushing you for donations or ask you to wire the money.

This article is from Ashley Eneriz of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

How to Spot a Charity Scam From a Mile Away

Ashley Eneriz — Thu, 08 Dec 2016 12:30:07 +0000

When it comes to donating to charity, people have good intentions. They want to give to a worthy cause, but unfortunately, so many individuals do very little research before opening up their checkbooks.

While many charities are legitimate, there are several that should be avoided. They are the ones that rate low, with the majority of their funds being funneled into the pockets of CEOs or marketing efforts. For example, the Catholic League for Religious and Civil Rights is one charity that is low-rated by Charity Navigator, yet has one of the highest paid CEOs. (See also: Surprisingly Easy Ways You Can Support Charity)

Here's how to make sure your donation is winding up in the right hands.

Make Sure the Name Is Right

Some notable low-rated charities have made it a point to choose names similar to popular nonprofit organizations. For example, Cancer Research Institute is a highly rated charity, but Cancer Survivors' Fund and American Association for Cancer Support are both low-rated charities, according to Consumer Reports. Both of the low-rated charities have important sounding names, and it can be easy to confuse them when there are so many to keep track of.

Avoid Callers

Don't give in to pesky callers asking for donations. Often telemarketers are hired by select charities to help raise funds. However, the charity does not get all of those funds. Instead, a lot of your donation will end up going to the marketers rather than your cause. Definitely do not give any personal information, such as your credit card or Social Security number to any charity. Most importantly, if anybody pressures you to give money, then it is best to walk away.

Know Where the Money Goes

The highest rated charities are very transparent about where their money goes. You should be able to see the organization's annual expense reports or the charity's Form 990. Churches and other big religious groups are not required to file 990s, so be sure to check them out at Ministry Watch, a website that helps alert donors to fraudulent religious charities. (See also: 5 Ways Giving to Charity Is Good for You)

Don't Donate Cash or Give Through Wire Transfers

Never give any charity cash or send money through wire transfers. If the charity insists on cash or a wire transfer, it should make you suspicious of the organization. But what about religious tithing? While dropping cash in your local place of worship's donation bucket doesn't mean you are donating to a scam charity, it is still wiser to write a check or donate online. This will allow you to keep track of your charitable giving for tax purposes. If you do give cash, try your best to get a receipt.

Be on Alert

During the holidays, more for-profit charities are likely to increase their marketing. Expect more calls and emails that will appeal to your emotions. Of course you want to help wounded veterans, homeless children, and abused pets but if you have never heard of the charity, then don't rush into donating. Charity scams also are more likely to pop up after a natural disaster, such as a hurricane.

Ask a charity if they are registered, and if they claim they are, then get the registration number. Also know that most respectable charities do not ask for donations via email, unless an individual has already signed up for the mailing list.

Do Some Research

Before you donate a large sum of money to any charity, spend a few minutes researching the organization. You should be able to find the rating of charities on the Better Business Bureau, Charity Navigator, Charity Watch, BBB Wise Giving Alliance, and Consumer Reports.

It is best to decide at the beginning of the year what your annual charitable giving will be and which charities you want to donate to. This then puts you and your budget in the right place for donating money and helping those in need.

Charity scammers take advantage of people's goodwill and desire to help. However, these scammers can steal more than just your money. They can steal your identity if you give out too much information. Give to causes you care about while also protecting your bank account and personal information.

This article is from Ashley Eneriz of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

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4. Write a nice note

5. Donate books

6. Make and deliver a meal

7. Send old tech gadgets to soldiers

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1. Buy a pre-packed bag at your local grocery store

2. Contact your local food bank

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4. Find Amazon wish lists

5. Be a layaway Santa

6. Go the extra mile right where you are

7. Be kinder

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Here's How Generosity Actually Improves Your Life

You'll make better money decisions

You'll benefit from a stronger support network

Your work opportunities will improve

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In-person volunteer opportunities

1. Volunteer Match

2. Idealist

3. Elder Helpers

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5. Girls on the run

Online volunteering

6. Skills for Change

7. Catchafire

Donating your stuff

8. Union & Fifth