Giving Compass' Take:

• In an interview with MarketWatch, Phil Buchanan argues that part of giving effectively is saying no to impulsive donations.

• Where are your charitable dollars going? Can your giving be more focused to have greater impact? 

• Learn how to plan your giving with Giving Planner.

MarketWatch: What’s your advice for people who want to give money to charity?

Buchanan: Get clear about your own goals. You will feel more of a sense of satisfaction if you focus your giving, which means you have to say no to a lot.

Just say no when asked to make a contribution at the cash register, on the phone when it rings at dinner time, or on the sidewalk. If you respond just in the moment — based on emotion or pressure — you will look back on your charitable contributions and they will feel random.

MarketWatch: It’s hard to resist when everyone is looking at you at the cash register and they ask if you’d like to help a child who’s hungry today.

Buchanan: Right. But the reality is that is not a good moment, with a line of folks behind you, to make an informed and thoughtful decision.

You could argue, well it’s only one dollar. Still, I would say, it’s better to just budget for what can you set aside for giving. Maybe you let yourself have 20% for the relational stuff that you feel you need to do, like when your coworker is running a race for a disease that affected someone in her family.

Read the full interview with Phil Buchanan about saying "no" by Leslie Albrecht at MarketWatch.