Giving to communities from our savings accounts
The UK is setting a charitable example by helping many in Bangladesh after a factory collapsed.
09:33 09 June 2013
The UK plans to give substantial aid to Bangladesh workers after a factory collapsed on workers. British clothing retailers are being called to take responsibility for knowing how their products are produced.
For those of use with some extra money in our savings accounts, it feels good to be able to help in some way. Here are a few ways that you can put some of the money in your savings accounts to beneficial use if you feel like giving to the community:
- Charities-you can decide to give some money to a particular charity if you want, or you can choose multiple charities. Some of the benefits of giving to charities are that certain approved charities also allow you to have a tax break. It also reduces the amount that your heirs may need to pay for inheritance tax. That is one way to make sure that funds from your savings accounts benefit your community, but also benefits you.
- International organisations-there are many international organisations that benefit people around the world. You can determine which ones you think will make the funds from your savings accounts go the farthest.
- Hospitals-many of us may not think of contributing donations to our local hospitals or health centres, but there’s nothing wrong with taking the funds in your savings accounts and putting them to use directly where there is a need.
- Shelters-if there are shelters, which provide items to those in need, or to homeless, this would be a good way to use the funds from your savings accounts as well. You will definitely know that those who need it most are getting the help.
- Businesses-you do not always have to use the funds in savings accounts for charities. Sometimes finding a decent business to invest in, whether it is your own or someone else’s, can be a great way to help the local economy. Local businesses can help reduce unemployment and give more people the opportunity to earn a better living.