CHARLOTTE, N.C., Oct. 16, 2019 /PRNewswire/ -- While nearly
two-thirds of Americans have donated to charity over the last year,
71% say that debt keeps them from giving more, according to a new
LendingTree survey. It's a sentiment that makes sense given that
the average debt-carrying household in 2018 owed roughly
$144,100.
Key Findings
- 71% of Americans reported that their debt keeps them from
donating as much as they'd like to charity.
- 56% of respondents said they don't make enough money to
donate.
- About two-thirds of respondents made a charitable donation
within the last year, and 34% did so more than once.
- 56% percent said they make recurring donations, meaning they
donate to the same charity or organization once a month or more
often.
- The top 3 most popular causes among donors are: animals (34%),
health (31%), and human services (26%). Younger generations were
more likely to donate to animal- and environmental-related causes,
while older Americans donated to more religious causes.
- One-third of Americans have contributed to a crowdfunding
campaign within the last year, and 27% have donated to a cause
through a social media friend's Facebook birthday fundraiser.
- If given additional funds to donate, 22% of respondents said
they'd want to contribute to an animal-related cause.
- When asked why they make charitable donations, most (67%)
expressed a simple motivation: They want to help others in need.
One in 10 cited tax deductions as a reason.
For the full detailed list and methodology, please visit:
https://www.lendingtree.com/debt-consolidation/study-debt-donating-charity/
Methodology
LendingTree commissioned Qualtrics to conduct an online survey
of 1,079 Americans, with the sample base proportioned to represent
the general population. The survey was fielded September 11-13, 2019.
For the purposes of this survey, we defined generations as
follows:
- Generation Zers are ages 18-22
- Millennials are ages 23-38
- Generation Xers are ages 29-53
- Baby boomers are ages 54-73
Members of the Silent Generation (ages 74 and older) were also
surveyed, and their responses are included within the total
percentages among all respondents. However, their responses are
excluded from the charts and age breakdowns due to the smaller
population size among our survey sample.
About LendingTree
LendingTree (NASDAQ: TREE) is the nation's leading online
marketplace that connects consumers with the choices they need to
be confident in their financial decisions. LendingTree empowers
consumers to shop for financial services the same way they would
shop for airline tickets or hotel stays, comparing multiple offers
from a nationwide network of over 500 partners in one simple
search, and can choose the option that best fits their financial
needs. Services include mortgage loans, mortgage refinances, auto
loans, personal loans, business loans, student loans, insurance,
credit cards and more. Through the My LendingTree platform,
consumers receive free credit scores, credit monitoring and
recommendations to improve credit health. My LendingTree
proactively compares consumers' credit accounts against offers on
our network, and notifies consumers when there is an opportunity to
save money. In short, LendingTree's purpose is to help simplify
financial decisions for life's meaningful moments through choice,
education and support. LendingTree, LLC is a subsidiary of
LendingTree, Inc. For more information, go to www.lendingtree.com,
dial 800-555-TREE, like our Facebook page and/or follow us on
Twitter @LendingTree.
MEDIA CONTACT:
Megan
Greuling
Megan.greuling@lendingtree.com
704-943-8208
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SOURCE LendingTree