MILWAUKEE - December 17, 2012 – Americans will donate to charitable causes this holiday season despite having less money to spend on gifts, according to a recent survey conducted by Northwestern Mutual Foundation’s financial literacy website, Themint.org. The findings support a rise in total giving to U.S. charitable organizations, which reached $298 billion last year, as reported by Giving USA Foundation and the Center of Philanthropy at Indiana University.
A majority of respondents (60 percent) said their families will contribute to charitable causes monetarily or through volunteer support, even though 43 percent will have “less money to spend this year than last on gifts.” In 2011, only 28 percent reported having “less money to spend this year than last on gifts.”
Other findings include:
• 28 percent report they “have the same amount to spend this year,” down 23 percent from the previous year.
• 15 percent of Americans have “more to spend this year than last,” up three percent over 2011.
Looking for an easy way to give back?
This holiday season, help Northwestern Mutual fight childhood cancer by “Sharing Unstoppable Happiness.” Each time a holiday card designed by Addison – a child battling cancer – is shared via Facebook, the Northwestern Mutual Foundation will donate $1 to its Childhood Cancer Program partners, up to $25,000. Click here to learn more.
Stay on a budget this holiday season
TheMint.org recently shared tips and ideas for staying on budget this season. From planning for presents to making a purchase, the new blog content offers some holiday food for thought.
About Themint.org Poll
From October 1 through November 30, 2012, visitors to the financial literacy website Themint.org were invited to answer three questions about their habits for spending and saving on Back to School items. Over 1,000 respondents nationwide provided insight, and the results were then analyzed based on several demographic factors including the age and gender. This poll is part of an ongoing series of polls by Themint.org, with the aim of bringing continued awareness to financial literacy issues. Poll results are archived on the site and can be viewed at http://www.themint.org/polls.
Themint.org offers parents, teachers and kids a variety of fun educational resources to explore every day money concepts such as spending, saving and budgeting. Themint.org is consistently updated with timely tips and tools, such as the new Just for Moms section and the monthly blog on a range of relevant topics.
About Northwestern Mutual
The Northwestern Mutual Life Insurance Company – Milwaukee, WI (Northwestern Mutual) – among the "World's Most Admired" life insurance companies in 2012 according to FORTUNE® magazine – has helped clients achieve financial security for more than 155 years. As a mutual company with $1.3 trillion of life insurance protection in force, Northwestern Mutual has no shareholders. The company focuses solely and directly on its clients and seeks to deliver consistent and dependable value to them over time. Northwestern Mutual and its subsidiaries offer a holistic approach to financial security solutions including: life insurance, long-term care insurance, disability insurance, annuities, investment products, and advisory products and services. Subsidiaries include Northwestern Mutual Investment Services, LLC, broker-dealer, registered investment adviser, member FINRA and SIPC; the Northwestern Mutual Wealth Management Company, limited purpose federal savings bank; and Northwestern Long Term Care Insurance Company; and Russell Investments.
Further information can be found at http://www.northwesternmutual.com.