Sorry, Kids...Santa Is Cutting Back This Christmas

According to a CNN poll released this morning, more Americans plan to cut back on holiday spending than any other expense. 67 percent of Americans polled will spend less than they originally planned. This could mean more store closures and layoffs after the New Year, and that’s certainly not the kind of holiday cheer we were hoping for. Of course, it’s also bad news for the kids. Though it is heartbreaking to hear stories about how some children might get nothing this year, most American kids can just expect less of—or knockoff versions of—what they wanted, so I don’t so much pity them for a disappointing Christmas as much as the crippling debt they face in the future of this country.

As for this holiday season, there are a growing number of children who might get nothing at all. Over the years families who haven’t had enough money to buy toys for their children have been able to turn to charities like Toys for Tots for assistance, but this year things are different. Donations to these charities are down considerably, and it has happened at a time when the number of people in need is much higher than in the past. These children, who have always been able to count on Santa to deliver on Christmas, might be disappointed this year. To see the faces on these kids will be heartbreaking, to say the least.

My daughter was born in January of this year, so this will be her first Christmas. At this point she is a little too young to even realize what Christmas is, but if she were a little older, as a father I couldn’t even imagine how I’d feel if I had to tell her that Santa wasn’t coming this year. I think these charities are not only for the children, but also for the parents of those children as well.

I know that many Americans are preparing to cut back this holiday season, but in reality most of us still have so much. Whether you were planning to cut back this holiday or not, I think most of us can find a few extra bucks in our budget to help out these families in need. To find the nearest Toys for Tots drop off location, click here.

Ideas For Philanthropy, Without Using Your Cash

In case you are looking for ways to give back, but don’t have any cash to give away, I put together some ideas for philanthropy which don’t require you to give up your precious savings. We all know how important it is to give back to those in need; besides making a difference in the lives of other people, giving back benefits the giver as well (for more on this, read Want Happiness: Give Away Some Money).

Philanthropy doesn’t have to be monetary, but, there are ways to give monetary donations without using your cash. One great idea is to use philanthropic credit cards. Many charitable organizations have established relationships with major credit card companies which will donate to them a portion of all purchases made by the consumer. So you can give back simply by using your credit card as you normally do. One such credit card is the KIVA business card through Advanta. Business owners know that Advanta offers some of the best rates around on their credit cards, and now offers this philanthropic opportunity alongside the low rates. For every dollar spent on the card Advanta will move a dollar into your KIVA account (up to $200 a month), which allows you to sponsor aspiring business owners in developing countries. A few more examples of charity credit cards can be found here.

BizCovering did a write up on this subject awhile back as well, and in their article they point out websites that donate a portion of their advertising revenue simply for you using them. Instead of using Google for your searches, you can use a search engine such as Search Kindly, which donates a portion of their advertising revenue to charities determined by the users. There are also sites that you can use for e-mail, shopping and so on, which all donate their proceeds to charity.

Another way to give back without giving up your cash is the donation of your time. There are more volunteer opportunities out there then I could ever hope to list, but volunteermatch.org is a great place to start your search if you need some ideas.

Giving back doesn’t have to cost money or even time, so no matter whether you are busy or cash poor, you should still make sure that you are practicing some sort of philanthropy. Hopefully my ideas for philanthropy were helpful, and if anyone else has some good ideas feel free to share them.

Want Happiness? Give Away Some Money

It appears that people who are searching for happiness need look no further than their wallets. According to researchers at the University of British Columbia and Harvard Business School, as reported in Science, people who give to others are happier than their peers.

The researchers took three different approaches in their study, but the results of each method confirmed that people who gave to others were happier than those who spent money on themselves. If you are interested to learn more about this study, visit this New York Times blog post about it.

I believe these findings are accurate, as I—and most people, I think—agree that it is better to give than receive. Here at NuWire, we try to highlight not only monetary investment opportunities, but also social investment opportunities. We attempt to identify companies that are creating social change through investing and business principles. These companies are able to stretch every dollar donated to them further than traditional non-profits. In case you missed some of our past social investment articles, here are some that you should check out:

Top 15 Charities for Investors
MicroPlace Thinks Big to Alleviate Global Poverty through Microfinance
Microfinance Institution Reviews
Non-Profit Venture Capital Aids Developing Nations