Now more than ever, the world needs more compassion and generosity. Many are suffering mentally and emotionally as a result of the COVID-19 pandemic—and one possible way to alleviate this is to show kindness to others. According to experts, generosity can have a positive impact on individuals’ well-being. There are many benefits of giving, improving the health and financial well-being of not only the receiver but the giver too.
How Generosity Improves Emotional Health
The concept of “helper’s high” refers to the positive emotional response one experiences after performing an act of generosity. According to experts, this emotion is associated with “greater health and increased longevity.” A recent study has proven that acts of altruism trigger activity in the temporoparietal junction (TPJ), a part of the brain that is linked to the brain’s reward system.
During a crisis like the COVID-19 pandemic, the giving and receiving parties can benefit from generosity. Another study found that different types of generosity can have different effects on individuals. The researchers found that performing generous acts for those close to us can reduce activity in the amygdala, a part of the human brain associated with stress and anxiety.
However, they also found that less targeted actions, such as giving to charity, also trigger activity in the ventral striatum, a region associated with compassion and care in mammals. Time and time again, studies have shown that acts of kindness toward both your loved ones and strangers can improve your mental and emotional health. Thus, it is especially important during this unprecedented time of crisis to find ways to show kindness.
How Giving Can Improve Your Financial Well-Being
On top of reducing one’s own stress and emotional turmoil, there are financial benefits of giving. During the COVID-19 pandemic, millions of Americans have struggled as a result of business closures, limited job opportunities and a struggling economy. Although it may seem counterintuitive to donate money to others when finances seem scarce, there are both practical and mental benefits to giving.
Under the current federal COVID-19 relief provisions, donating money can provide more tax breaks than ever before. The Coronavirus Aid, Relief and Economic Security Act, or the CARES Act for short, allows individuals up to $300 in charitable contribution deductions. It also raised the limit on charitable contributions from 60 to “up to 100% of 2020 adjusted gross income,” if the deductions are itemized.
The financial benefits of giving do not just end at tax deductions, though. Financial planner Carrie Schwab-Pomerantz believes that charitable contributions are important to reformulate the ways in which we perceive money. Money should be spent wisely, and that includes putting it toward causes and issues that one cares about.
Ways to Give
During the COVID-19 pandemic, generosity, compassion and giving are especially important. There are also more ways than ever to help, both big and small. One easy way is to complete small tasks such as grocery shopping or making care packages for your loved ones who are more vulnerable to COVID-19. There are also ways to support your community such as by making and distributing cloth face masks or by collecting and donating food for those in need. An even simpler way to help is through donations. There are many around the world who are suffering as a result of the ongoing pandemic, so now is a great time to give to causes you care about.
Individuals suffering from extreme poverty can be more susceptible to COVID-19 and can suffer more from the pandemic’s socio-economic consequences. The Borgen Project is accepting donations so that it can do as much as possible to make this issue central to American foreign policy in the future. Donating will not only help those who need it the most but the donator too.
– Leina Gabra