This is no time to turn a cold shoulder on charitable groups that you've supported in the past. Like virtually all organizations and individuals, charities have felt the bite of the recession. They are receiving fewer and smaller contributions, and are cutting their budgets and their activities. If you've been blessed with stable and secure income in these rocky times, by all means keep giving. But if cash is short you can still support your favorite charity as before — by donating your time instead of your money.
A volunteer's time may not pay the rent, but it has measurable value. The Independent Sector, a think tank for nonprofits, estimates that a volunteer hour is worth just over $20. So do the math. If in the past you have given, say, to your church to the tune of $2,000 a year — give 100 hours of your time instead, or maybe 50 hours plus $1,000. You'll save $1,000 or more while maintaining your commitment and feeling good about yourself. One note of caution: the value of your time is not tax deductible, though any materials or supplies you provide while volunteering can be deducted.