14 Ways To Use Your Wealth To Support Others During This Challenging Time 

The coronavirus pandemic has had a significant impact on every area of our lives. No matter our background, we have all felt the weight of the pandemic on our shoulders. With the effects of coronavirus set to stay with us for some time yet, many people wonder how they can make the best use of their money to help others in these difficult times.

Fortunately, with the difficulties that the pandemic has brought, it has also brought out the very best in human nature.

Read on for some of the best ways to use your wealth to help and support others in 2021.

Support A Foodbank 

As many people struggle with their finances due to the pandemic, supporting a local food bank can make a real difference. Thanks to people working reduced hours or losing their jobs entirely, there has been a strain felt on many food banks across the nation as demand increases.

It could help to do some research into the different food banks that you can donate to. There are some national charities that provide foodbank services wherever they are needed and others that are local and give food to a set area. If you can, find out which areas of your city or district need food the most and target your donations where they will be most effective.

You can donate to foodbanks financially or with food parcels that you’ve bought yourself. If you choose to donate food, you should check with the foodbank that you’re contributing with to ensure that you’re buying the things they need the most.

Fund Research 

A great way to have a positive impact on the world is by funding research, and this is never truer than during the pandemic. With the long-term impact of coronavirus still unclear, there is a stark need for research into the virus itself as well as the implications to the economy and society as we know it.

It is essential to fund research into the impacts of the coronavirus, as many of its long-term effects on health and the body are unknown. While many governments support this research, it will likely be a long and challenging process, meaning that donations will be crucial for years to come. Global organizations such as the World Health Organization (WHO) could be the ideal place to invest money as they respond to the virus’s current and future implications.

Corporate Responsibility 

Advocating for corporate responsibility could be an excellent way to get your voice heard and help those who need it the most. Particularly if you own shares or interests in a company, you will likely be able to make real change within the business world. You could consider investing in shares of companies for this specific reason, as it will give you the chance to make your voice heard and make a real change from within.

Invest In Green Initiatives 

The popularity and necessity of going green has become even more stark since the start of the coronavirus pandemic. More and more people realize that they must think of the environment and the future to protect our planet and its inhabitants.

There are many ways that someone can help to contribute to the fight against emissions and climate change. You could consider donating to charities fighting climate change or providing green energy solutions. On a personal level, you could purchase an electric car and ensure that your home has all of the latest energy and water-conserving features.

Wind power is quickly growing as a renewable energy source, so investing in this is an ideal way to help promote sustainable energy practices. You could consider investing in a company that produces wind turbines or wind farms themselves.

Make Donations Online  

Many organizations have upgraded their ability to take online donations in light of the pandemic. This can be a simple, easy way to spread your wealth where it is most needed.

A great example of organizations that can truly benefit from online donations is churches. With congregations unable to gather for large parts of the country, there has been a drop in the donations that churches often need to survive and serve their members well. Online church donation can be one of the best ways to ensure that your generosity is felt where it is needed most.

If you decide to donate to a church or any online organization, you should ensure that their payment methods are reliable and trustworthy. This can help to ensure that your donation goes to the right hands. Check out this software for online giving for churches for an idea of the level and quality of service you should be entrusting your money with.

Think Long Term 

As with investing in green initiatives, thinking long terms is essential if you want to use your wealth to help those impacted by the coronavirus pandemic. Once the dangers of coronavirus are dealt with, there will likely be a time of economic shock due to months spent in lockdown.

To help with this, you could consider using your resources to back charities and organizations that help people back to work or provide training who cannot afford it. If you own or have influence with a business, you could consider ensuring that it implements a plan for similar such events in the future that will help to mitigate the impact on employees.

You could also back pressure groups that appeal to governments to ensure that they have adequate plans for events like global pandemics in the future. Preparation is crucial to mitigate the impact of pandemics, and many governments were unprepared for this one.

Support Homeless Shelters 

Homeless shelters have played a crucial part in the fight against coronavirus. They have been giving food, shelter and hygiene products to those in our society that need them most. Greater demand has also hit homeless shelters due to the rise in unemployment and the need to ensure that they are socially distanced to protect volunteers and service users.

You could consider using your wealth to provide personal protective equipment to shelters for the use of residents and volunteers. It is likely that the demand for homeless shelters will only grow as the country feels the economic shockwaves of the past year, so putting money into homeless shelters will be crucial.

Invest In Mental Health 

Many people are struggling with their mental health, thanks to the pandemic. The stress of job losses and job insecurity, worry about the dangers of the virus itself, and time spent away from loved ones have all contributed to a drop in mental wellbeing.

There are many ways that you could use your wealth to promote mental health among those who need it. You could consider donating to mental health charities or provide funding for counselling and therapy sessions for those who need them but otherwise could not afford them.

Many people are unable to access mental health services due to the pandemic. While plenty of counsellors and therapists are offering remote services, not all people who need them have access to technology that would allow them to engage with virtual therapy. Donating technology to mental health charities for them to disburse among people who need them could be an excellent way to make a difference and ensure people can access the help they need.

Help Your Local Community 

You could use your wealth to help those in your own community or neighborhood that need aid. Whether this is delivering groceries to people who are particularly vulnerable to the virus or providing educational equipment and laptops to children learning from home, there are many ways to make a difference.

Many people are trying to make ends meet by setting up businesses from home selling artwork, crafts or other things. You could consider joining some local community groups and looking out for people selling homemade items and buying from them. This is an excellent way to support your local economy and your neighbors themselves. If you have pets, you could also consider using local dog walkers or groomers.

Donate Cleaning Services 

Cleaning services are crucial to prevent the spread of coronavirus in public or often-used places. You could consider donating a professional cleaner’s services to local businesses or even local homeowners and public authorities.

This could be an excellent way to help the elderly and vulnerable in your community, who may have reduced ability to keep their homes clean, and less help from family members due to the risk of spreading coronavirus.

Shop With Small And Independent Businesses 

Instead of doing your grocery shopping with major supermarkets, you could consider spending your money in family-owned, small and independent stores. Larger stores and chains are weathering the storm of the coronavirus pandemic, where smaller, independent businesses need our custom more than ever.

You could also consider buying takeaway from local restaurants, many of whom have had a significant source of their income reduced or taken away entirely by the lack of patrons eating in. Purchasing food from local independent businesses can go a long way to helping them stay afloat during these challenging times.

Offer Scholarships And Support Children In Education 

Children are likely to be significantly impacted by the pandemic. Many parents have spent their savings over the past months due to a lack of employment. If you have the resources, you could consider offering a scholarship to children whose chances of going to college have been reduced by the pandemic.

You could also consider donating or investing with charities and organizations that provide mental health care to children. The pandemic has been a confusing and distressing time and many young people are struggling with their mental health as a result. Helping to fund mental health care for children who would otherwise be unable to afford it can be one of the most beneficial ways to use your wealth at this time.

You could also consider donating to causes that advocate for children’s futures in the coming months and years.

Start Your Own Non-Profit 

Starting a non-profit of your own could be an excellent way to support your community and wider society. You could consider doing some research into the areas that are under-served currently and see where a non-profit could be of most help. There are many different options to consider, and if you have the wealth to invest, you could do an incredible amount of good.

Donate Things As Well As Money 

You could consider having a clear-out of your home and donating the things that you no longer need. Charities need donations of various items more than ever, such as clothes and good shoes. If you have a surplus, then there is no better time to gather up some things to donate.

You could also donate larger items that people might need locally but are unable to afford. Again, it is a good idea to look through community forums to identify people who need things like washer/dryers and other large household goods that they may be unable to afford at this time.

Final Thoughts 

There are countless ways that people with any amount of wealth can help support others during this challenging time. Money is desperately needed across all sections of society, so making donations to various charities and initiatives can have a profoundly positive impact.

You should think carefully about where and how you shop. This can be invaluable in supporting the local economy and businesses in your area. Shopping smart is one of the simplest ways to make a significant difference to those around you.

You can also make a difference with donations of material things such as cleaning supplies and services, personal protective equipment, household goods and clothing.

The important thing for anyone looking to make a difference during these difficult times is to reach out and find where the need is greatest. You could do this by contacting local charities and authorities or doing your own research into local initiatives. Word of mouth is another excellent way to find out where help is needed, so getting involved in local community groups could be the ideal way to find out where your help could be best placed.

 

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