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Saturday, December 29, 2012

Freakonomics: An Economist’s Guide to Year-End Charitable Giving

FreakonomicsFreakonomics:  An Economist’s Guide to Year-End Charitable Giving:

The end of the year is a giving season for many (I suppose a cynical economist might think tax deductions has something to do with it). Most of us like to make sure we’re making well-researched and wise decisions when it comes to our money, be it reading the online reviews before a purchase or investing our savings. By contrast, donating to charities can seem like a “black box.” Many of us our rely on what feels right or seek out an organization in an area we have a personal connection to, but examining some bad habits about charity giving might help make sure our dollars go farther this giving season.

Bad Giving Habit #1: Choosing based on low overhead and fundraising expense ratios 
Bad Giving Habit #2: Restricting what the organization can do with your money 
Bad Giving Habit #3: Spreading the love, dividing your donations among many charities 
Bad Giving Habit #4: Fooling yourself that you give what you think you should be giving 
Bad Giving Habit #5: Giving to things that advertise well, rather than to what works 
So what’s a good habit? Copying 

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