Public are tightening their belts when it comes to giving
Research from Charities Aid Foundation (CAF) shows cost of living pressures are affecting donations to charities.
Two million fewer people in the UK said they had donated to charity amid growing fears about the cost of living.
In February, only a quarter (25%) of people donated to charity in the past four weeks. This figure is significantly lower than the usual average for the month (29%), meaning that around 2m fewer people donated to charity than usual.
With many cutting back on discretionary spending, around one in 10 (12%) people reported last month that they plan to cut back on charity donations.
However, as more families face financial struggles with the increased cost of living, previous research from CAF found that nearly nine in 10 (86%) charity leaders anticipate that demand for their services is likely to increase.
The survey, which is based on research among more than 1,000 UK adults, found that 12% of people said they actively planned to cut back on charitable donations in light of higher bills and rising inflation.
Just one in four members of the public said that they would not be cutting back on any spending.
Alison Taylor, CEO of CAF Bank and Charity Services, Charities Aid Foundation, said: “The pandemic has highlighted the vital role that charities play in our society, including those who work and volunteer for them.
“The cost-of-living crisis makes the value of charities’ work more visible than ever, while also placing these same charities under significant pressure as they seek to deliver their essential services and meet increasing demand from their communities.
“Even when household finances are being squeezed, we have been struck by how people continue to support the charity sector, seen for instance in the incredible public response to the DEC Ukraine Humanitarian Appeal.
“The most important thing is to make sure your donations are given effectively by taking advantage of the tax benefits on offer.
“There are also many other ways for people to support the work of charities that do not involve giving more money, such as volunteering your time and skills, which can make a huge difference.”