American Generosity Squeezed by Economic Uncertainty, According to Wells Fargo Study
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Three-quarters (
78% ) of Americans report generosity as a core value -
Half (
51% ) report not having enough money to give

Wells Fargo: American Generosity Squeezed by Economic Uncertainty (Photo: Wells Fargo)
Even so,
“The data shows us that the pinch of rising costs is driving a moral dilemma. Many Americans are in a standoff between what they want to do and what they can do,” said Stephanie Buckley, head of Trust Philanthropic Services with Wells Fargo Wealth & Investment Management.
Despite this dilemma, the study reveals that among the two in three Americans who made a charitable donation this year,
The study – which is based on a national poll conducted by Ipsos on behalf of Wells Fargo of 1,004
Happiness drives giving
Driving factors of American giving are largely altruistic. Almost half of Americans are motivated to give to charity because it makes them happy (
Comparatively, financial benefits and peer pressure have very little to do with why Americans give, with only
“There is a misnomer that many people give for selfish reasons, particularly among the affluent. When in actuality, I’ve found that no matter the level of wealth, giving tends to almost always be driven by wanting to make an impact,” said Buckley. “In fact, anonymous giving continues to be a rising trend which I believe lends itself to the idea that most people tend to give altruistically.”
Givers want to be more strategic
More than half (
“Not having a plan can often lead to a ‘smear the peanut butter’ approach, where people write checks and donate without thinking about how it aligns to what’s really important to them. Whether you are giving money, time, or talent, having a plan can help block out some of the noise and help ensure you are giving with intention,” said Buckley.
“What’s Giving Tuesday?”
The study also looked at Americans’ awareness of Giving Tuesday and the impact on giving trends. The majority (
As compared to other trends around that time of year,
“The idea behind Giving Tuesday is to inspire a wave of generosity. It’s a moment to bring us together, with intention, to have an impact on the communities around us,” said Buckley. “Whether you’ve participated before or are just hearing about it, I would encourage everyone to be thinking about where they can donate their time, dollars, or talent to the causes that matter most to them.”
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a leading financial services company that has approximately
Wealth & Investment Management provides financial products and services through various bank and brokerage affiliates of Wells Fargo & Company.
Additional information may be found at www.wellsfargo.com
LinkedIn: https://www.linkedin.com/company/wellsfargo
About the Study
These are some of the findings of an Ipsos poll, conducted September 20-23 2024, on behalf of Wells Fargo. For this survey, a sample of 1,004 adults age 18+ from the continental
The sample for this study was randomly drawn from Ipsos’ online panel, partner online panel sources, and “river” sampling and does not rely on a population frame in the traditional sense. Ipsos uses fixed sample targets, unique to each study, in drawing a sample. After a sample has been obtained from the Ipsos panel, Ipsos calibrates respondent characteristics to be representative of the
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Media
Desari Mueller
Desari.Mueller@wellsfargo.com
Source: Wells Fargo & Company