Home News Generous Brits would rather donate to charity than save for retirement

Generous Brits would rather donate to charity than save for retirement

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If given a £3million windfall:

  • More people (33%) would like to donate money to charitable causes, than save for retirement (22%)
  • More women would rather donate to charity (38%) than pay off their mortgage (36%)
  • 39% of ‘Generation Z’ (18 – 24 years olds) said they would like to donate to charity, more than 25 – 34 year olds (26%), 35 – 44 years olds (18%) and 45 – 54 year olds (24%)

Despite the increased cost of living, it seems that as a nation we are still keen to give back as shown by new research released today by Macmillan Cancer Support and Poundland, Europe’s biggest single price discount retailer, who are today celebrating raising £3million for the charity. According to these latest stats, a third of us would happily prefer to put those in need ahead of ourselves, with the under 24s revealed as far more generous than other generations.

Those surveyed were asked to rank in order of importance which three things they would do if they were given £3 million, overall a third of those who answered (33%) saying that they would donate to charity. This is greater than those who would use the money to save for retirement (22%), take early retirement (27%), or open a savings account for their children (29%).

The new statistics also demonstrate that ‘Generation Z’, are more generous than many of their older counterparts, despite being the least stable generation in terms of finances. Almost two in five (39%) of those surveyed said they would like to donate to charity, significantly more than 25 – 34 year olds (26%), 35 – 44 year olds (18%), and 45 – 54 year olds (24%).

The research conducted by YouGov – of 2,077 British people – also shows that many people believe supporting charitable causes would be more important than extravagant purchases or personal indulgence, with just 1% saying they would use the money to buy a football club, 13% a super car and 2% who would hire a personal shopper for life.

Women were revealed to be more generous than their male counterparts, with women around a third more likely to want to give to charity than men (38% and 28% respectively). The research also reveals that more women would rather make a charitable donation (38%) than pay off their mortgage (36%).

Claire Singlehurst, Director of relationship fundraising at Macmillan Cancer Support said, “It is really encouraging to see that despite growing financial concerns, people in the UK are extremely generous when it comes to helping those in need. “At Macmillan, we know that by 2030 the number of people living with cancer in Britain will have increased to four million, making the public’s support more valuable than ever.”

The research was conducted by Macmillan Cancer Support to celebrate their eight-year corporate partnership with Poundland which has raised an incredible £3million for people living with cancer. This money enables the charity to continue to provide vital support and services for people living with cancer across the UK; changing lives with every pound.

For more information about Macmillan Cancer Support and how you can fundraise visit: www.macmillan.org.uk

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