I’m drowning in end-of-the-year charity solicitations. Social causes, political action groups, health-care organizations, educational advocacy agencies…Some I’ve never heard of, some I’ve helped in the past. All of them worthy.
Thanks to texting, social media and e-mail lists, marketing departments have more ways than ever to reach out to us. “They know that we have a tendency toward (giving) at this time of year, and they really double down on it,” says behavioral finance expert Dr. Ted Klontz, co-author of books like Mind Over Money: Overcoming the Money Disorders That Threaten Our Financial Health.
You’re aware that need exists, and would like to help. But giving without a plan could potentially turn you into a charity case.
“If you harm yourself financially, you’re creating the same kind of problems you’re trying to solve,” says Manisha Thakor, vice president of financial education for Brighton Jones and author of On My Own Two Feet: A Modern Girl’s Guide to Personal Finance.
I talked with Manisha and several other money experts for an article on a new website, Considerable.com. All of them told me pretty much the same thing:
