Budgeting for Donations: How Do You Do It?

[CaptLouAlbano]

I was wondering how others here budget for their political contributions each year, and from this maybe others can learn how they can be more effective with their donations. Here is what I do:

Each year I decide on an annual budget amount that I plan to give to political candidates, organizations, PACs, etc. This year I decided on $25,000. Each month (I do my bills and budgeting at the first of every month), I set aside $2083 that is earmarked for political contributions in my budgeting software (I use a Quicken product). Then as the elections approach, I make a list of all the candidates and organizations whom I potentially am going to give money to and rank them. My ranking is based on a number of factors, but primarily I base it on potential need (i.e. will the candidate need money) and viability (i.e. does the candidate stand a chance to be competitive in their race. I also look at timing - as in does the candidate need the money for a primary race or the general. Once I am happy with the list, I then start making my donations, dividing the money up accordingly. As we get to the general election, I reassess the list and then make any adjustments as needed. Usually then, any funds that are left over are sent to organizations like C4L, YAL, etc.

How do you folks decide how much to give, how to budget for it, and who to send it to?

 

[FSP-Rebel]

For someone w/o that kind of loose change laying around I pretty much just suck it up when the time comes and cut back in other areas. For instance, I may cancel my monthly gym membership and workout at home instead and/or not eat out for while til I'm back on firmer ground. Or, plan seasonal vacations that are more economical. Also, prod my random family members for donations to amplify my givings. That said, your model is ideal.

 

[Smart3]

Came out to $100 charity, $30 RP 2012 last year.

I have no job (by choice).

 

[Suzu]

Each month (I do my bills and budgeting at the first of every month), I set aside $2083 that is earmarked for political contributions in my budgeting software (I use a Quicken product).

Your earmark for political contributions is nearly triple my entire monthly budget, LOL! And I'm supporting fifteen cats!!

How do you folks decide how much to give, how to budget for it, and who to send it to?

It's a matter of deciding how badly I want to make a donation at a particular time, then trying to find a way to be able to do it. Lately, I've been lucky to come up with $10 to toss at a moneybomb now and then.

 

[CaptLouAlbano]

Your earmark for political contributions is nearly triple my entire monthly budget, LOL! And I'm supporting fifteen cats!!

It's a matter of deciding how badly I want to make a donation at a particular time, then trying to find a way to be able to do it. Lately, I've been lucky to come up with $10 to toss at a moneybomb now and then.

I have grandchildren but no cats LOL.

I'm retired, and after owning businesses nearly my entire adult life, I have been able to set myself up so that I live very comfortably. I have devoted a lot of my life to politics, and in many ways that has come back to benefit me as well, since through my political activity I made many relationships that have benefited me in the business world (for example, the real estate broker that I worked with extensively over the years was someone I met at a township meeting). I cannot knock on as many doors as I used to, so if I can help out others I do my best.

But I will give some advice to those here - regardless of how much money you earn, set aside some each month for political donations even in those months where we think little about politics. Keep the money aside and budgeted so that when the time comes up you have the money earmarked. This is good to do for all aspects of your life, and was taught to me by my parents long ago. A good budget will make your life so much easier.

Oh and if you have never read "Rich Dad, Poor Dad", by all means do so. It could very well change the way you think about money, work, jobs, assets and investments.

 

[brandon]

Any donations I decide to give come from the monthly funds that i've earmarked for entertainment. I don't let donations compete with paying essential bills or with my savings goals.

 

[CaptLouAlbano]

Any donations I decide to give come from the monthly funds that i've earmarked for entertainment. I don't let donations compete with paying essential bills or with my savings goals.

Oh good. Never, ever, ever give to a candidate instead of paying a bill or saving for your future. Smart move.

On a side note, is there any sort of libertarian/conservative organizations out there that educate people on money and how to grow your own personal wealth? A lot of the stuff I see out there isn't politically specific, but it would be nice if there was an organization that was run by people who were anti-Fed, pro-sound money. Maybe a Austrian/Chicago mentality behind it all.

 

[mmink15]

Cancelled TV service