“We make a living by what we get. We make a life by what we give.”— Winston Churchill
Despite the uncertainty of rock-bottom interest rates and the pressure on household incomes, the UK has remained steadfastly committed to giving to charity. According to the latest figures published by the Charities Aid Foundation (CAF) the UK ranks 4th in the world in giving per person, with 74% of the population donating regularly to good causes. You may be thinking that this is behind the US, but in fact only Myanmar, Malta and Thailand rank higher.
Surprisingly, there is little correlation between a country’s economic position and its place in the World Giving Index. In fact, only five of the countries in the Top 20 are members of the G20. Prosperity does not automatically equal a rise in generosity.
Why Do We Give?
The average person in the UK gives £10 a month, while some devote tens of thousands a year. People’s reasons for giving are diverse and most have more than one influence motivating them. However, the overwhelming factor seems to be the satisfaction we get from giving back and the determination to leave a positive legacy. It gives us a sense of achievement and of making a real difference. Of course, we also give because we want to help those in need.
“You can have everything in life you want, if you will just help other people get what they want.” — Zig Ziglar
What Could Grow Giving?
Without the work of UK charities, large and small, the world would be a more impoverished place. It is important that we continue to encourage others and build our confidence in giving.
Nearly two thirds (61%) of those questioned in CAF’s poll of some of their most generous donors believe the wealthy need to talk about their giving more and 78% agreed that companies need to do more to support charities.
John Low, Chief Executive of CAF, said: “The UK has one of the best environments in the world for giving to charity – but our research shows that more needs to be done to get the word out there about the amazing work charities do and the incentives available to donors.
“In this country, we need to be more open about giving in the public eye, with high profile advocates ready to stand up and talk about the essential support they give to charities, and inspire others to do the same.”
How Does Quadrant Group Give?
At Quadrant Group, we take charitable giving very seriously. It is our firm belief that we have a responsibility to act not only for the benefit of clients but also society at large. With this in mind, we give regularly each year and share this information on our website. The board made a unanimous decision in May 2015 to increase our donations for a number of charities both local and international.
We want to use our success as a catalyst for making real change in the UK and around the world. There are many different reasons for the choice of charities that we support yet the common factor is that they are causes close to our hearts. We have intentionally given to both local organisations that work in our community of North London, like St. Luke’s Hospice, as well as those much further afield such as Street Action in Burundi. Our decisions have often been very personal to our staff as with our giving to the Karen Morris Memorial Trust. If you would like to learn more about the organisations that we support, visit our charity and community page.
Quadrant works with clients to create life and financial plans that include philanthropic gifting and socially-conscious investing. If you would like to consider how to improve the cost effectiveness of your charitable giving or want to consider becoming a more socially-active investor, please get in touch.
“No one has ever become poor by giving.” — Anne Frank
The data cited in this blog is from the Charities Aid Foundation (CAF). To learn more about their research and publications visit https://www.cafonline.org.
This article does not constitute financial advice. Individuals must not rely on this information to make a financial or investment decision. Before making any decision, we recommend you consult your financial planner to take into account your particular investment objectives, financial situation and individual needs. Past performance is not a guide to future performance. The value of an investment and the income from it may go down as well as up and investors may not get back the amount originally invested. This document may include forward-looking statements that are based upon our current opinions, expectations and projections.