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5 Tips on Giving to Charity

by | Oct 23, 2017 | Finances, Money

Feeling generous and want to make a difference? Here are five tips on giving to consider.

An estimated 14.9 million Australian adults (80.8 per cent of the population) gave $12.5 billion to charities and not-for-profit organisations in 2015–16.[1]
For many people, donating comes as a response to a specific request, but if you feel strongly about helping out, why not budget for it?
As well, many people plan to leave money to charities in their wills and with some extra thought in estate planning, a bequest can be made in a tax-effective way.
Regardless of how you give, it’s always important to keep accurate records of your donations to give to your accountant at tax time.

Here are five things to consider before donating.

1.         Why giving is important

Giving to the less fortunate is a good thing to encourage from a young age. Certain schools make volunteering part of their programs but even parents can encourage philanthropy through their own actions. Giving is good for both the donor and the recipient, and it makes the world a better place.

2.         Do you know what the charity does?

It’s an obvious question, but at the very least the charity’s mission and goals should align with yours. Is it doing good works in the areas that concern you? Do you feel strongly about what it is doing with your money?
 

3.         What has the charity achieved?

Most organisations are happy to advertise their successes through videos, photos, testimonials, and their annual reports to help you get a more complete picture.

4.         Can you volunteer?

Being charitable can also mean pitching in and helping, which is a great way of finding information and making connections. This will help you decide whether the organisation fits your values and goals, and make you feel more fulfilled knowing you are making a difference.

5.         How much are you comfortable giving?

Giving circles are a solution for people who don’t have a lot to give. This just means getting a group of 100 or so people together who each contribute perhaps $1,000 to create a pool of $100,000. They donate the lot to one charity to make a big impact.
If you would like to make giving part of your financial plan, your adviser can help you get the most out of your philanthropic efforts.
[1] www.philanthropy.org.au/tools-resources/fast-facts-and-stats/

Reduce stress to cut your heart attack risk

by | Oct 17, 2017 | General

A new study links stress with heart disease, but there are easy ways to stay healthy and protect your heart.

Stress is part of modern life but a new study shows that being stressed takes a serious, and lasting, toll on your health and increases your risk of heart disease.

The multi-year study published in the medical journal The Lancet is the first to pinpoint how stress affects the body. Stress apparently triggers the amygdala – the part of the brain keyed specifically to respond to stress – which then activates bone marrow and inflames the arteries.

This is a survival mechanism that would have been essential for the earliest humans as it prepares the body to deal with a harmful experience. Bone marrow produces the white blood cells necessary for tissue repair. Wider arteries increase blood flow.

However, today, the over-production of white blood cells can cause a build-up of plaque in the arteries and lead to heart disease.

The people in the study with higher amygdala activity had a greater risk of cardiovascular disease and developed problems sooner than those with lower activity.

“Eventually, chronic stress could be treated as an important risk factor for cardiovascular disease, which is routinely screened for and effectively managed like other major cardiovascular disease risk factors, such as smoking, high blood pressure and diabetes,” says study author and cardiologist Dr Ahmed Tawakol.

“So far, it appears that things like mindfulness and other stress-reduction approaches seem to really nicely tamp down on the amygdala, and they appear to even cause benefits in other areas of the brain.”

The other stress-reduction approaches are diet and exercise.

Regular exercise triggers feel-good chemicals in the brain such as dopamine and endorphins. It also reduces the damage the stress hormones cortisol and adrenaline cause.

Physical activity relieves tension and helps enrich your brain with oxygen and nutrients, which can improve cognitive functioning and leave you feeling energised and alert.

Exercise should be teamed with a healthy diet low in refined sugar, saturated fats, salt and alcohol, and high in fruits, vegetables, grains, legumes, lean meats and unprocessed foods.

As an added bonus, you may even lose weight.

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