If you can wait and donate when there’s a particularly good matching opportunity (for example the Facebook match on Giving Tuesday), you’ll end up giving a slightly higher total that way. The big downside to this is that it’s much easier to set up a standing order and not cancel it than it is to make a large annual donation on a particular day while focusing on where to get the best match for it.
The other advantage of a standing order is that it keeps you connected to the community. I set up a trivially small standing order in 2012 while I was still a student, and I think it played a part in keeping me aware of the community, with me ending up getting increasingly involved over the last few years (and now donating more than 100x more).
One more thing to keep in mind for small monthly payments is that many payment services take a small fee on every transaction. This might make it better to donate annually (though it’s going to be a very small difference in most cases, so I think Alex’s point is also good).
For example, if your credit card company takes a 15-cent fee from each payment you make, the charity you support will lose $1.80 if you donate monthly, and only 15 cents if you donate yearly.
If you can wait and donate when there’s a particularly good matching opportunity (for example the Facebook match on Giving Tuesday), you’ll end up giving a slightly higher total that way. The big downside to this is that it’s much easier to set up a standing order and not cancel it than it is to make a large annual donation on a particular day while focusing on where to get the best match for it.
The other advantage of a standing order is that it keeps you connected to the community. I set up a trivially small standing order in 2012 while I was still a student, and I think it played a part in keeping me aware of the community, with me ending up getting increasingly involved over the last few years (and now donating more than 100x more).
Thanks Alexrjl!
I think I will pay monthly to start with.
One more thing to keep in mind for small monthly payments is that many payment services take a small fee on every transaction. This might make it better to donate annually (though it’s going to be a very small difference in most cases, so I think Alex’s point is also good).
For example, if your credit card company takes a 15-cent fee from each payment you make, the charity you support will lose $1.80 if you donate monthly, and only 15 cents if you donate yearly.
Thanks Aaron.
I will pay from my visa debt card and they don’t charge me for transactions, so it should be fine.
Actually maybe they do charge me if I did non UK transaction. Thanks for making me aware!