Retirement
Donations to charity drop, but volunteering on the rise
New data shows a shift in patterns of giving from Australians to charities, which includes a drop in donating money.

Donations to charity drop, but volunteering on the rise
New data shows a shift in patterns of giving from Australians to charities, which includes a drop in donating money.

According to the latest CAF World Giving Index, Australia is ranked second out of 146 countries when it comes to giving, with many choosing to donate their time and effort over funds.
“We are seeing a clear shift from individuals preferring to contribute funds to a project or an organisation, to people wanting to genuinely emotionally connect into communities and initiatives,” said Emma Sakellaris, executive general manager of Australian Unity Trustees.
“As part of this, the index noted a global trend towards volunteering, with more people giving their time and expertise to causes while there has been a corresponding drop in the number of individuals donating money.”
The index noted a particular increase in the number of women volunteering for projects and initiatives with charitable organisations.
The results suggested women are preferring to utilise their particular areas of expertise when giving.
“Often we see women who wish to start supporting particular causes, however they may not have the same capacity to significant grant funds during their lifetime. In addition, we find that women are often not as influenced by incentives such as tax deductibility,” Ms Sakellaris said.
She said that, increasingly, charitable women are looking to create a legacy of their giving through allocating donations in their estates.
“It is evident that women seek a significantly greater emotional connection with charities and projects, so volunteering is often a logical commencement to establishing their philanthropic legacy. Such women may then leave a significant charitable gift within their estate plan, in line with their areas of philanthropic focus during their lifetime,” Ms Sakellaris said.
The index also identified a shift towards ‘needs based granting’, or assisting people through ensuring they have their basic needs of food, shelter and support, as the preferred method of volunteering. Such an act was found to more often be provided through human care, support and kindness than the donation of funds.
Ms Sakellaris said she believed Australians ranked highly on the index as physically helping others is ingrained within the Australian culture.
“A big part of the Australian culture is to help others – this is particularly evident through our increased willingness to support those in need of our support and kindness,” she said.
“I suggest our view of Australian philanthropy is somewhat impacted by the fact that we have significantly less ultra-high-net-worth individuals making substantial grants and contributions in a highly visible manner, such as named buildings and scholarship programs, compared with, say, the US.
“In Australia, philanthropy is not restricted to the domain of the ultra-wealthy, however, as a result the individual contribution made by Australian philanthropists can be less visible. This doesn’t mean their contribution is less valuable, on the contrary, and the findings of the CAF report support this.”

Retirement Planning
Retirement time bomb requires complex thinking
The majority of Australia’s super assets now sit in the hands of retirees and pre-retirees, but many require more nuanced investment strategies to achieve the lifestyle they want in retirement, a ne...Read more

Retirement Planning
Why some Millennials are struggling to save for retirement
Millennials are struggling to save for retirement as they face challenges that are different from other generations. What are these reasons? ...Read more

Retirement Planning
Retirement Income Review cornerstone ‘not for everyone’
Despite being the cornerstone of the Retirement Income Review, an expert has highlighted that downsizing and withdrawing equity from a property might not be the solution for all older Australians. ...Read more

Retirement Planning
Effective tips that can help Millennials retire faster
Millennials have changed the cultural and societal landscapes of the world. This is unsurprising, given the fact that they are the best educated and most diverse generation in history. ...Read more

Retirement Planning
What you need to know to get ahead financially
Australians looking to get ahead are being advised to analyse their financial situation, set financial goals and reduce debt whenever possible. ...Read more

Retirement Planning
How to adjust your wealth strategy during COVID
Investors are being urged to be conservative about spending, reduce debt and be careful of assets that are supported by government spending, as they look to adjust their wealth strategies during the f...Read more

Retirement Planning
Should older Australians downsize their property?
Older Australians face the dilemma of not being confident about their retirement outcomes, but are among the wealthiest retirees in the world due to a large proportion of their wealth being tied up i...Read more

Retirement Planning
Self-funded retirees ‘hung out to dry’ by 2020 budget
The Association of Independent Retirees has slammed last night’s federal budget release, accusing the government of overlooking older Australians in its post-COVID-19 recovery plans. ...Read more

Retirement Planning
Retirement time bomb requires complex thinking
The majority of Australia’s super assets now sit in the hands of retirees and pre-retirees, but many require more nuanced investment strategies to achieve the lifestyle they want in retirement, a ne...Read more

Retirement Planning
Why some Millennials are struggling to save for retirement
Millennials are struggling to save for retirement as they face challenges that are different from other generations. What are these reasons? ...Read more

Retirement Planning
Retirement Income Review cornerstone ‘not for everyone’
Despite being the cornerstone of the Retirement Income Review, an expert has highlighted that downsizing and withdrawing equity from a property might not be the solution for all older Australians. ...Read more

Retirement Planning
Effective tips that can help Millennials retire faster
Millennials have changed the cultural and societal landscapes of the world. This is unsurprising, given the fact that they are the best educated and most diverse generation in history. ...Read more

Retirement Planning
What you need to know to get ahead financially
Australians looking to get ahead are being advised to analyse their financial situation, set financial goals and reduce debt whenever possible. ...Read more

Retirement Planning
How to adjust your wealth strategy during COVID
Investors are being urged to be conservative about spending, reduce debt and be careful of assets that are supported by government spending, as they look to adjust their wealth strategies during the f...Read more

Retirement Planning
Should older Australians downsize their property?
Older Australians face the dilemma of not being confident about their retirement outcomes, but are among the wealthiest retirees in the world due to a large proportion of their wealth being tied up i...Read more

Retirement Planning
Self-funded retirees ‘hung out to dry’ by 2020 budget
The Association of Independent Retirees has slammed last night’s federal budget release, accusing the government of overlooking older Australians in its post-COVID-19 recovery plans. ...Read more