Angela Phillips with Mountain America Credit UnionMountain America Credit Union joined us to share three tips for giving this holiday season.
She says when it comes to greater sustained happiness, remember the three C's: Make a Connection, Make a Change, and Make a Choice.
Make a Connection
Giving is more meaningful if you have some sort of connection. For instance, if you've been helped int he past by an organization it can feel amazing to give back to that same charity.
Make a Change
Think about the impact of your donation to an organization and its beneficiaries. Will there be one, or will this be a small drop in a bucket? Just like ensuring a connection with your giving, the more you know your donation will make an impact or change the more satisfying giving is. Some charities are now sending donors information on exactly where their money went. They know that people like to feel they've made an impact.
Make it a Choice
There is a greater reward activation when people choose to give. In a study done by the University of Oregon, researchers gave individuals $100. Some participants were asked if they wanted to donate some or all of it to a charity. Other participants were given no option, they had to donate. Brain scans of both groups revealed greater feelings of satisfaction from the group who had a choice whether or not to donate.
So, how do you know if you're giving enough? Angela says the answer is you don't, there's no right or wrong amount of money to donate. The amount of money or time given is an individual decision. What's universal is the satisfaction of giving.
If you want to make it a practice to give, ensure you have money set aside for this by creating and naming a savings account called, 'Giving' can help you meet your specific giving goals.
Angela says, "At Mountain America, we allow you to name your secondary savings accounts for more personalization and your financial institution may as well."
Visit macu.com/accounts to learn more or stop by your local branch.
***Insured by NCUA. Membership required — based on eligibility.