Giving Compass' Take:

• Giving smart and efficiently is important when thinking about philanthropy and charity. 

• Do you think about ways to strategically give your money so that you can make the best and smartest contribution? 

• Strategically donating money can be hard, so that's why it's important to follow and understand trends in philanthropy. 

When you’re already juggling many competing financial priorities — from paying bills to saving enough emergency cash — being generous with your money can seem impossible. But evidence suggests that giving can pay dividends, whether that means picking out the perfect birthday present for your best friend or supporting a local charity. Why? For one, research shows people actually feel happier when they spend money on others than when they do on themselves.

So how can you strike a balance between helping yourself and helping others? Here are three ways to have a more thoughtful approach — and maximize benefits for both recipients and yourself.

  • Spend wisely on your closest friends and family
    • Embrace clever, practical gift-giving
    • Invest in your relationships
    • Strike a balance when spending on your kids
    • Be cautious when offering a loan
  • Offer money or time to your local community
  • Use your funds to help the world

Read the full article about how to give better by  Gina Ragusa and James Dennin at Mic.