Chicago Residents Still Donate to Charity When In Debt

Between the red kettle outside the grocery store, mall clerks asking if you want to give a dollar to fill-in-the-blank cause and the seemingly endless requests for donations in your mailbox, Americans are being faced with charity choices every day.

You might think that we'd ignore them, what with most of us struggling to pay off our own debts and make the house payment. But we're more giving than we realize, say Chicago bankruptcy attorneys. It turns out that nearly two-thirds of Americans say they plan to donate to charity this year, regardless of the economy. And fortunately those donations can do more than make us feel warm and fuzzy inside - they can also help our finances.

So when does giving to charity improve your financial situation? When it's done wisely. For instance, if you're donating money, make sure to get a receipt that you can use to deduct the donation when filing your taxes. It might feel a little selfish to donate expecting to get money back in return, but by staying financially solvent, you'll ensure you can continue to help others - as well as take care of your own family - in the future.

Here's another thought. If you're seriously strapped for cash, your money might be better spent going to pay off debts than get you a tax break. So instead of donating money, why not donate time or materials? After all, where do you think those donations go when they leave your pocket? They go towards putting on events, recruiting volunteers, getting coats to homeless kids, and serving up dinners to the elderly - all things you can do for free. Just because you can't afford to give cash doesn't mean you can't contribute something meaningful.

Of course, charity is more than a financial issue; it's also a spiritual one. If you're wrapped up in worry over your own money problems, helping others can be a welcome reminder that you still have much to be thankful for. There are always folks struggling more than you - whether they're out of a job or out of a home.

But remember, the better off your finances, the better you'll be able to help yourself--and others. If debt is taking over your life, take back control. Bankruptcy is one of the most effective ways to eliminate debt and put you back in charge of your financial future. Curious about how bankruptcy can change your financial situation? Stop wondering and start learning when y

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