8 Financial Benefits of Volunteering

8 Financial Benefits of Volunteering

Volunteering is a great way to do something you love while helping others. Although you do not get paid for volunteering, that does not mean that you can’t benefit from it. Whether you volunteer for a large charity, give regularly as part of your budget, or a local soup kitchen, there can be several financial benefits of volunteering.

Improve Your Skills

It is always a good idea to work on personal improvement. Volunteering can allow you to work on skills that you wouldn’t otherwise be able to. For example, you might be able to learn more about building homes by working for Habitat for Humanity, or you can fine-tune your communication skills by volunteering to knock doors for a local candidate’s campaign.

Get a Better Job

Volunteering and honing your skills can also help you land a better job. In your current role, you might not have much freedom to explore other areas of the business. With volunteering, you can gain hands-on experience that makes you more qualified for a new or better job.

Additionally, hiring managers see people who use their spare time to volunteer as being more selfless, motivated, and hardworking. Therefore, volunteering can be financially beneficial for you by setting you up for a better paying job in the future.

Good Resume Builder

Even if volunteering doesn’t help you find your next job, it is still a great resume builder. For example, if you’re in a finance role but want to move into sales but don’t have the experience necessary to land the job, you could make calls to seek donations. The experience you gain in fundraising can be an excellent way to prove yourself to a hiring manager that you can close a deal. Regardless of the skills you gain as a volunteer, it demonstrates that you can manage your free time well and have other desirable qualities.

Network to Discover Opportunities

Lots of different types of people volunteer. You might find yourself planting a garden alongside a neurosurgeon or serving meals next to a stay at home parent. No matter a person’s day job, volunteering can be a great way to meet people with different backgrounds. It can be an excellent way to network with other people in your community and potentially make a profound professional connection.

For example, you might meet someone and get to chatting about work, only to find that they’re hiring someone with your skillset. It could be an excellent opportunity to change jobs or change industries. Additionally, the people you volunteer with will make excellent references because they will have seen your work ethic in action.

Spend Time with Like-Minded People

Just like networking, you can benefit from volunteering by spending time with like-minded people. While everyone that you volunteer with might have a different background, they also have some qualities in common. For example, if you’re volunteering as a coach for a kid’s soccer program, the other volunteers also likely value staying active, creating a community for children, and more. This can be a great way to make friends with similar values outside of your typical social circles.

It’s a Free Activity

Although it’s great to make friends through volunteering, social obligations can get expensive. Volunteering is a free way to spend time with friends, all while making a difference. If your budget is tight, you can still get your social needs met while keeping your money in the bank.

For example, it can be expensive to get a puppy and raise a dog. However, you could spend your weekends at the local animal shelter walking dogs and playing with other animals. This will help you keep money in your pocket while still getting to do something that you love.

Help the Economy

Some nonprofits rely on volunteers to keep their charities up and running. Volunteer labor has a significant impact on the people and animals that each charity serves. Volunteers free up funds to make a more significant impact on children, animals, and underserved adults in the community.

Earn Perks

Some volunteers can financially benefit from volunteering by getting cool experiences or things for free. For example, some volunteer church chaperones might get free admission while taking a youth group to an amusement park. Other volunteers might need specific software on their computers to do their volunteer work, and the organization they work for might cover the cost. While volunteers do not earn cash, the perks that they can earn for doing their volunteer jobs might be just as exciting.

The Bottom Line

Not only is volunteering a productive thing to do, but it can also keep money in your pockets and help set you up for financial success in the future. Additionally, it is a great way to grow your social circles and make a tangible difference in your community.

Image Meal Prep With Volunteers by DC Central Kitchen is licensed under CC BY 2.0.

The post 8 Financial Benefits of Volunteering is part of a series on personal finances and financial literacy published at Wealth Meta. This entry was posted in Personal Finance
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