In recognition of #InternationalDayofCharity, we'd like to draw your attention to the special relationship between cash and charitable giving.
Did you know that in the UK, people donate more than £300 million to charities each year in the form of loose change?
According to the most recent UK Giving report - the largest study of giving behavior in the UK - about £320 million in loose change went to charities in 2017.
'Despite innovation in charitable giving over the years, cash remains the main way in which people give, although the level has decreased slightly in 2017.' (Key Findings, UK Giving 2018 Report)
The reports are published annually, but this year's issue is particularly relevant today as the government reassesses the public's relationship with coins.
The survey of 1,123 people, carried out by YouGov on behalf of the Charities Aid Foundation (CAF), found that people gave an estimated £320 million in loose change to charity last year.
'Coins remain a vital source of income for charities, as millions of people put money in collection tins and spend cash at school and parish fairs up and down the country.'
The results, part of CAF’s long-running research into giving trends in the UK, come as the Government is consulting on the role of cash and digital payments in the economy, amid forecasts that the amount of cash used in transactions is likely to fall sharply in the coming years.
“Cash is still by far the most common way people donate to charity, and nothing is easier than putting your hand in your pocket and putting a few coins into a collection."
The survey found that nearly two-thirds of women (65%) said they had donated loose change compared to 55% of men surveyed. On average, however, the men who donated loose change gave away more – an average total of £20.75 during a year compared to £10.76 given by women.