Be Charitable This Time Of Year, But Do So Wisely
December is generally the peak time for charitable giving. When I work with clients on spending forecasts, I’m often asked, “How much should I be giving to charity?”
Some general estimates are given as an average percentage of adjusted gross income (gross income minus certain adjustments) of 3 percent to 5 percent. Others are based on a percentage of disposable income, which historically has hovered around 2 percent. Many faith traditions suggest tithing 10 percent of income. Charitable giving is a personal decision, and the important thing is that you give what you feel you can afford.
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