Financial Benefits of Volunteering

Guest Contributor: Christina Pay
USU Extension Assistant Professor

Each year millions of Americans participate in National Make a Difference Day, a day set aside for volunteers to participate in big or small acts of community service.  While this day comes every year on the fourth Saturday of October, it doesn’t need to be the only day for volunteering your time.
Volunteering is beneficial for many reasons ranging from increased good health to emotional wellbeing.  Sandra Quadros Bowles, on her Money Wisdom blog, suggests that volunteering can also provide some significant financial benefits.

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1. ​Get cool stuff free.  Volunteers often receive goods and services provided by nonprofit organizations. Whether it’s a t-shirt, a water bottle, or free passes to movies or museums or discounted rates on other attractions, the little rewards for giving up some free time is a nice perk.
2. Land your dream job.  Employers view volunteer’s as hard-working, motivated and dependable individuals which makes them valuable employees. Even if you are already employed, volunteering can help you build and expand your personal network and perhaps help you find an even better job.
3. Learn new skills.  Often, those going into a volunteer situation come out knowing more than they did when they went in.  Organizations will train volunteers; whether it is learning how to paint a house or take care of animals, new skills are gained and the education doesn’t cost you a dime.
4. Spend more time with like-minded people...and less time with your doctor. Experts say that when you create connections with those who share your same interests it bolsters your support system. It also decreases risk factors such as smoking and heavy alcohol use.  Additionally, volunteering leads to feeling connected and less depressed, especially among people 65 and older.
5. Help the economy.  Volunteering has a huge economic impact. One study showed that Americans volunteered 120 billion hours over the past 15 years. The value to the economy of all those volunteer hours? $2.6 trillion!  That certainly makes available a lot of money for other vital projects that improve quality of life.

You can make a difference every day of the year by volunteering.  Besides being a good thing to do, it can provide some real financial benefits.   

Source:
Bowles, S. Q. (2019, May 21). 5 financial benefits of volunteering. Money Wisdom.
     https://go.hfcu.org/blog/5-financial-benefits-of-volunteering