Last year, Sarika, an IT professional based in Noida who did not want to reveal her real name, spent Diwali with children at Saikripa, a non-governmental organisation (NGO) that works for homeless and abandoned children. The family, consisting of her husband and son, decided to not spend anything on crackers, expensive lighting and new clothes, and re-channelled the money as a donation to the NGO.
She says, “We wanted to have a different experience on Diwali with underpriviledged children. It was a wonderful experience. My son was hesitant in the beginning, but was happy at the end of the day.”
Everyone may have different reasons and modes of donating, but for most donors, charity generates positive emotions. A research paper, The Emotional Rewards Of Prosocial Spending Are Robust and Replicable in Large Samples, published in the Harvard Business School’s publications in December 2022, confirms that. In the paper, Harvard Business School assistant professor Ashley Whillans, Canadian researchers Lara Aknin of Simon Fraser University, and Elizabeth Dunn of the University of British Columbia, said that spending money on other people can increase happiness among donors.
Like Sarika, many people prefer to donate during the festive season, though many do it throughout the year. Anant Arora, chief sustainability and communications officer, The Akshaya Patra Foundation, says: “Many people choose to donate at monthly intervals, ensuring consistent support. However, some donors prefer to contribute during festivals, aligning giving with the spirit of celebration and sharing.”
The decision to do charity, however, is only the first step. The next and more crucial step is to select an NGO or a cause close to your heart. For Sarika, choosing the NGO was easy, because she found it in her neighbourhood and felt for the cause.
HOW TO SELECT AN NGO?
Diese Geschichte stammt aus der October 2023-Ausgabe von Outlook Money.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent ? Anmelden
Diese Geschichte stammt aus der October 2023-Ausgabe von Outlook Money.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
BUDGET & YOU: NEW REGIME BEATS OLD IN FY26
Lower tax slabs and nil tax on incomes up to 12 lakh has not only provided relief to middle-class families but also rendered the old tax regime irrelevant for most of them. The government also renewed its focus on senior citizens
Consistent Returns In Hybrid Space
The Indian equity market is going through rough waters, leaving investors uncertain about whether to choose equity or fixed-income investments. Experts, meanwhile, predict higher volatility and recommend a safer approach.
BEHIND THE MIND GAMES THAT END IN 'DIGITAL ARREST'
The new scam of digital arrest employs psychological pressure to dupe vulnerable victims, who go through a phase of trauma and fear. We tell you how it works, whether the government is doing enough to curb the menace, and how you can keep yourself safe
Boost To Consumption, But Don't Buy Blindly
With the budget putting more money into the hands of people to boost consumption and increasing foreign direct investment in insurance, certain consumer-oriented sectors, such as FMCG, auto, as well as manufacturing are expected to do well, but think before investing
Pre-Existing Diseases In Insurance
Understanding pre-existing diseases (PEDS) in health insurance is crucial because they can affect your coverage and premiums. Pre-existing conditions, such as diabetes or heart disease, are health issues you may already have and know of before purchasing insurance.
'Govts Are Often Influenced By Private Interests, And Don't Focus On Health'
Longevity is not about going to the gym or having superfoods, but living in an environment that promotes a healthy lifestyle. Dan Buettner, the Blue Zones founder, National Geographic fellow, best-selling author and the producer of the Emmy Award-winning 'Live to 100: Secrets of the Blue Zone' series, learnt this during his decades-long research into five blue zones of the world. In an interview with Nidhi Sinha, Editor, Outlook Money, as part of the Wealth Wizards series, he talks about another kind of wealth, a healthy and fulfilling long life. He also talks about blue zones, and how policy matters when it comes to improving the health, lifestyle and longevity of the population
The 'Gap' In Long-Term Returns
There is a significant gap in the nominal and inflation-adjusted returns across asset classes. So, reading long-term trends is important before making investing decisions
Changed Jobs? Where is Your EPF Money?
For many employees, transfer of EPF becomes a nightmare when changing jobs. We give you the likely problem scenarios and what you should do for a seamless transfer of your EPF upon changing jobs and states
Old-New Break-Even Point Is High
The break-even point for deductions to choose between the old and new tax regimes has increased to ₹8.50 lakh for income of ₹24.75 lakh and above. Normally, deductions and exemptions commonly claimed by salaried individuals do not exceed ₹8.50 lakh
How Not To Be Financially Vulnerable
We often naïvely assume that our monthly pay cheques will cover whatever life throws our way. But it may not cover all our emergencies, which is why we need to create a safety net
