Holiday Giving Trends: Survey Finds 28% of People Are Donating Time Over Money Due to Finances

The holiday season is synonymous with giving. People give gifts to loved ones, share sweets with friends, and donate their time or money to those less fortunate. For some, that means helping out at soup kitchens, donating winter jackets, or putting their money toward a bigger cause. 

A new survey of over 1,000 Americans breaks down the donation habits of each generation. As it turns out, 90% wish they could give more financially. This year, some are turning to volunteering their time instead of money because of financial constraints. 

No matter their financial situation, 75% of Americans surveyed plan to make a donation in some way, shape, or form this holiday season. Over 2 in 5 (43%) survey respondents said they are going to donate to bell ringers working fundraisers like the Salvation Army’s Red Kettle Campaign. Meanwhile, 32% plan to do an angel tree or organized gift-giving for a family in need. 

The top reasons Americans donate during the holiday season are to:

1. Help the community
2. Pay it forward
3. Spread holiday cheer 

Over 1 in 5 (21%) survey respondents admitted they give to feel better about themselves, with 27% of Gen Z sharing this is one of their top reasons for donating. Interestingly, tax deductions were not a major cause for donations for most Americans. Only 6% said they donate around the holidays for tax benefits. However, 14% of people in households making $200,000 or more said they donate for the tax benefits. 

Over half of Americans plan to make a financial donation this holiday season. On average, survey respondents are planning to donate $136. Broken down by generation, Gen Xers are the most generous with their finances, donating $168, while baby boomers are giving an average of $149. Meanwhile, millennials and Gen Zers anticipate donating just $115 or less.

Just because the younger generations are donating less financially doesn’t mean they don’t want to. Of survey respondents who are not making donations this holiday season, 39% said they’re unable to financially, and 27% said the high cost of living is forcing them to cut back on donations. 

For those who aren’t financially stable, 28% plan to donate more of their time than money this holiday season due to financial constraints. This is more common among younger generations, with 37% of Gen Zers and 32% of millennials doing this. 

There are other ways to donate outside of giving money. In fact, 39% of respondents plan to make physical donations during the holiday season, and 1 in 4 plan to volunteer their time. On average, Americans expect to volunteer 5 hours, but this slightly varies by generation.

While they’re donating the most money financially, Gen Xers are planning to do the least amount of volunteering across generations. On average, Gen X expects to do about 4 volunteer hours in November and December, while all other generations anticipate volunteering 6 hours. 

While all forms of donating can make a big impact, 86% of Americans believe their financial donations can make a difference. That may be why over 1 in 6 (18%) survey respondents are cutting back on their personal spending to increase donations during the holidays. That is even higher among Gen Z, with 27% planning to cut back on non-essential costs. 

The top sacrifices people plan to make to cover donation costs include skipping dining out or takeout meals, non-essential items (clothes, tech, etc.), and entertainment (movies, concerts, etc.). Nearly 1 in 4 (23%) said they will cut back on spending for holiday gifts so they can afford to make financial contributions to important causes. 

While giving takes precedence during the holiday season, it’s important to stay alert for donation scams. Nearly 1 in 6 (16%) report being targeted in a donation scam, and among them, 23% were targeted within the last year! On average, respondents lost $144 to these types of scams.

“Nearly 1 in 6 (16%) report being targeted in a donation scam, and among them, 23% were targeted within the last year.”

Baby boomers have lost the least amount of money, while Gen Xers and millennials have lost the most. The scams have done more than impact bank accounts; 64% said it’s made them wary of donating to other charities. 

There are a lot of different places where people can donate their money, and some have stronger preferences than others as to where their money goes. Out of local, national, and international charities, 60% of respondents donate to local charities. Surprisingly, over 1 in 10 (11%) Gen Zers prefer to donate to international charities, the most out of any other generation. 

Statistics show that 1 in 5 prefer to bypass charities entirely and donate to pages like GoFundMe. Gen Zers (26%) and millennials (27%) are more likely to prefer this kind of donation to Gen Xers (17%) and baby boomers (12%). 

With another year of major natural disasters, 27% chose to put their money toward disaster relief organizations to help with storms like Hurricane Helene and Hurricane Milton. Because of that, 24% shared they have less money to donate this holiday season. Nearly 1 in 6 (14%) Americans surveyed donated to political campaigns in 2024; subsequently, 17% also have less money to donate. 

Of those planning to make holiday donations, the top five causes they plan to support are:

1. Food security
2. Children’s causes 
3. Disaster relief
4. Housing/shelter
5. Animal welfare

Whether you have money to donate this holiday season or are planning to donate physical items or your time, remember that every little bit counts. It’s up to us to work together and make the world a better place, one step at a time. Happy holidays! 

In October 2024, we surveyed 1,011 Americans about their charitable spending and volunteering habits around the holiday season. 52% were women, 47% were men, and 1% were non-binary or chose not to identify. Survey respondents ranged in age from 18 to 78, with an average age of 44. 25% were Gen Z, 25% were millennials, 25% were Gen X, and 25% were baby boomers.  

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