When most think of putting together a financial plan for the New Year, ideas around debt repayment and investment growth or reallocation usually are the first things to come to mind.
Of course, the beginning of any fiscal year also marks the beginning of tax season, in which finding ways to keep more money in one's pocket in the short, medium, and long term should be the front and centre goal of everyone pre-April.
For those who exhaust the benefits of their registered retirement savings plans each and every year, planning to give charitably is another great way to reduce one's tax burden (and feel pretty darn good doing it).
Determining which registered charities to give to, and which ones one will inevitably need to say no to (can't give everything to everyone), should be top of mind for those planning on giving a certain percentage or dollar amount of their disposable income in a given year.
Thinking about which companies fit the value proposition which sits best with you is a great place to start. Deciding how much to give, and when (perhaps when one receives their annual tax refund), is also great to think about.
When investors find themselves thinking of giving outside of the holiday season, often when charities need funding the most, the impact of such giving could have a much wider reach overall for a young or struggling charity/non-profit.
Invest wisely, my friends.
