Charity Donors Remain Resilient Despite Squeeze on Spending
31 May 2013
Despite a backdrop of sustained pressure on households' disposable income, research by Halifax reveals a determination by charity donors to safeguard the amount that they give to good causes.
70% of people have given money to charity in the last year, with around half (52%) managing to maintain the amount that they donated over the previous 12 months and one in ten actually increasing the amount they give.
Cutting back on other spending
Almost two thirds (63%) of people would make some sacrifice to continue giving to charity if their financial circumstances changed for the worse. Takeaway meals (13%) were top of the list of things people would cut back on followed by nights out (12%) and magazine subscriptions (10%).
However, financial pressure remains a threat to charity giving, with seven in ten people stating that they would stop donating if they felt that they could no longer afford it.
Those aged 18-24 are the most likely (24%) to forfeit something to maintain their giving, with the willingness to cut other spending to protect charity donations decreasing with age.
Anthony Warrington, director of current accounts, Halifax said:
“It's no secret that there is more pressure than ever on family finances but it is encouraging to see that people are not only trying to maintain the amount that they give to charity, but are also making the donations that they give work harder through schemes such as Gift Aid.
“Taking a proactive approach and budgeting for charity giving will ensure you can afford the donations you are making. Regular payments, such as direct debits, can also make it easier to plan donations into your monthly spend.”