Cheap in Erie
By Dana Massing Erie Times-News staff blogger
I am a grandchild of the Great Depression and a survivor of more recent recessions. Through my grandparents and parents, I've learned to spend wisely and to save while still being able to live life well. I want to share my discoveries with you and hear yours.   Read more about this blog.
 Phone: 814-870-1729
Posted: February 1st, 2012
Set aside a little at a time for charity

Every summer I donate $250 to one of the American Cancer Society’s local Relay For Life events.

Contributing to that fundraiser could make a dent in my finances each July. But it doesn’t because I plan for it.

I put aside $5 a week for that specific purpose. So when the event rolls around, I won’t have to suddenly come up with $250. That money will already be earmarked for donation.

It works better for me to set aside $5 from 50 paychecks then to have to take $250 from one paycheck.

One of the easiest ways to do something like this is to simply get a piggybank and stick a few dollars in it each week. When it’s time to donate to a charity, simply take out as much as you need.

But maybe you’d rather keep the money in a bank account, where it could be gaining interest. If so, you’ll want to make sure you have a way of tracking how much of the money in the account is designated for charity so you don’t spend it on something else by mistake.

And don’t forget that, depending on how you file, you can claim such charitable donations on your taxes.

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