by Sarah B.

Remember when Liz blogged about how Millennials are perfect donors? Sometimes, as a volunteer, you might decide you’d like to begin giving more than time to an organization. But how do you start? And what if you’re on a Millennial budget?

Research, research, research.

How do you want your money to make a difference? Philanthropy is personal, so think about what matters most to you. Once you know the answer, look for organizations that match your goals. If you’re already a volunteer, start with the organizations you trust. You have probably seen some of their success firsthand.  To begin giving, ask questions like:

  Where does the majority of your funding come from?

  What will you use my money for this month/quarter/year?

  How will I know my money has made an impact?

  What will ____ dollars do for you?

If you’re not already familiar with an organization, you can do research on GuideStar.  Once you register (free), GuideStar will give you important information about how much money an organization receives and how the money is spent.

flickr photo by matthew burpee

Crunch those numbers.

Once you know where to give, decide how much to give.  Just like impulse shopping, impulse giving can make it difficult to stay on track with your budget and your philanthropic goals, so plan your giving this way:

• Decide how much money you will give overall.
• Determine a giving schedule that works with your budget. (Monthly, quarterly, etc)
• Select how many organizations will benefit from your money.

(A recent study shows that 63% of Millennials gave to 3 or more organizations in a year.)

• Ask yourself: “Do donor clubs, recognition opportunities, or giveaways matter to me?”  (It’s okay if they do! Find out what each organization offers at different levels.)
• Set aside a little bit of money for impulse giving so that you can give to friends in a charity walk, participate in workplace campaigns, or other surprise charitable opportunities.

Ditch the stamp.

Most Millennials probably won’t be writing a check and mailing it to their favorite nonprofit organization every month.  Here are some ways to contribute without a stamp:

Technology.  Most nonprofits allow you to give through their website, and sometimes, you can set up automatic monthly or quarterly payments. You can even give to some organizations through text messaging or mobile apps!

Workplace United Way campaign.  United Way campaigns provide the benefit of payroll deductions. You’ll barely miss that extra $10 if it never hits your wallet. You can tell United Way you’d like your money to go to a specific organization (called designating) or let them decide how to spend it (useful if it’s your first time giving). United Way agencies are held accountable to certain standards before they can receive funding, so you can trust them to use your money wisely. Don’t forget to ask your employer if they will match any contributions you make to nonprofit organizations!!  It’s like free money for your favorite cause.

Giving circles.  This is an exciting trend that many Millennials may not be familiar with.  Groups of people pool their money and determine how that money will be used.  In Indianapolis, one great giving organization is Giving Sum.  They combine their members’ money, as well as volunteer time, to give one organization a contribution each year that they could never give on their own. Giving circles allow you to add a social aspect to your giving.

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To learn more from or connect with Sarah, follow her on Twtitter – @sarahkathleen
You can also follow the rest of The Millennial Chat Team here.
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What your advice for first time donors?
How do you manage your giving?

Your feedback about giving is important!  If you’re a Millennial, take the 2012 Millennial Donor & Engagement Survey.