Charitable Giving During Christmas Season Still Thriving in America
Charitable giving during the holidays is still alive in America, according to the TD Bank Holiday Giving Report.
More than half of the respondents (56.5%) of a recent survey reported engaging in charitable activities over the holidays, including:
- Donating while shopping (21.9%)
- Shopping for charitable gifts as a family (15.9%)
- Donating some of their kids’ gifts (9.9%)
- Volunteering with their family (9.2%)
Only 36.3% of the respondents said they do not perform any charitable work over the holidays.
“I find it heartwarming to see how many Americans believe in giving back to those in need,” said Michael Carbone, Regional President at TD Bank. “This is a core conviction I share with TD Bank and my own family. I firmly believe that charity should begin at home and be a full-family affair.”
The study, which surveyed 1,502 respondents 18 and up via Google Surveys, found that two out of three Americans (67.1%) would rather spend the holidays with their extended family than going to a resort with their partner or close friends (32.9%),
The survey also examined shopping habits and found that 32.1% of respondents in all age groups do not buy holiday gifts. Millennials tend to buy more than other age groups, even though they are strapped with student loan debt. Only 23.7% of Millennials said they do not buy holiday gifts.
On the flip side, most Americans are receiving gifts. Only 19.5% said they do not receive holiday gifts, and 14.5% of Millennials do not receive gifts.
Overall, most families seem to be holding back from giving their kids too much during the holidays. 46% of respondents in all age groups said the kids in their family receive the perfect amount of gifts. However, that number jumps to 64.2% for 18 to 24-year-olds. However, 36.3% said gift giving has gone too far, and 17.7% do not exchange gifts with their loved ones.
“I come from a large extended family, my son tended to get a lot of gifts growing up,” said Carbone. “That’s why we’ve developed a family tradition. Each of us selects at least one of our gifts to donate to charity. I’m delighted to see that so many Americans agree that the holidays are not just about giving, but giving back.”