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BUSINESS Monday 9 deceMber 2019
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Millennial Money: Give back without busting your budget

By AMRITA JAYAKUMAR Regardless of how much
Associated Press you make, you can pick
It may not come as a sur- a percentage of your in-
prise that millennials are come and set it aside for
passionate about giving giving, says Theresa Ste-
back. vens, a financial coach
Millennials as a genera- who works with millennials
tion believe in supporting at Declutter Your Money in
causes more than individ- Providence, Rhode Island.
ual organizations, are likely Stevens says starting now
to be influenced by peer — with as little as 1% — in-
networks when it comes stead of waiting until you
to giving and want to give reach some target number
back in terms of money, helps you build a savings
time and leadership, ac- habit that you can apply
cording to the Millennial to other aspects of your fi-
Impact Report, a decade- nances.
long study of millennial When your income chang-
philanthropic behavior. es, revisit your giving plan
As you move through your to see if your priorities have
career, you’ll likely have changed and how much
more room in your wallet you can afford to donate,
to give back. Pactor says.
Here’s how to prioritize This April 3, 2019, file photo shows a tip box is filled with U.S. currency in New York. Stevens recommends di-
causes you care about Associated Press viding your giving allow-
and be strategic about ance into two buckets —
giving, regardless of your and how to direct your yes to Facebook pledge mend giving 10% of your one for causes you choose
income. spending or your time. (Fi- requests, having a giving income, but unless you and one for spontaneous
CREATE A GIVING PLAN nancial planners say this plan can help you focus adhere to that, there’s no giving. “If I have 5% (set
The environment. Wom- is also a handy technique on the issues you really “right” amount, says Chris- aside) for giving, I might
en’s issues. Children’s ed- for prioritizing your finan- care about. tine Centeno, a certified fi- earmark 3% for an organi-
ucation. Animal welfare. cial goals, like saving for a “The benefit of a giving nancial planner at Simplic- zation I’ve chosen and 2%
There are so many causes down payment or getting plan is that it enables the ity Wealth Management for Facebook fundraisers
that could benefit from rid of student loans, and person who’s been asked near Richmond, Virginia. or causes that come up
your time and money that creating a budget.) to say no without feeling “It all goes back to what randomly,” she says. The
it can be overwhelming. “The next step is to do a guilty,” Pactor says. you can afford,” she says. key is making room in your
Begin by writing down real assessment of what DETERMINE YOUR DO- “Charitable gifting is im- budget for both your own
the issues you care about you’re giving now,” Pac- GOOD FUND portant, but you have to charitable causes and
most, says Andrea Pac- tor says. “Is what I’m doing Financial experts say make sure you are saving those of others.
tor, interim director of the now aligned with my val- there’s no rule of thumb for retirement and building MAKE A MEANINGFUL IM-
Women’s Philanthropy In- ues?” about how much of your a cash reserve.” Centeno PACT
stitute at Indiana University. If you find yourself contrib- income you should dedi- notes that volunteering Even if you feel like your
The act of making the list uting to causes only when cate to charitable giving. your time or expertise can donations are modest, you
gives you clarity about a friend or family member Religious communities that be an alternative to cash can ensure every dollar
what’s important to you asks for help or clicking practice tithing recom- donations. you give counts.q
Gannett: ‘Frontline’ reporting jobs will be last to get cut

By TALI ARBEL er Gannett, creating the largest newspaper publisher in
Associated Press the U.S. Executives behind the merger, which was funded
NEW YORK (AP) — In November, newspaper publisher in part by a high-interest, $1.8 billion loan from a private
GateHouse completed its acquisition of USA Today own- equity firm, have pledged significant cost cuts, but say
they are aiming to shield reporting jobs as much as pos-
sible.
The combined company, which will use the Gannett
name, also has big aspirations for new digital ventures
that it likens to a modern and reimagined form of classi-
fied advertising.The Associated Press spoke recently with
Gannett CEO Mike Reed and the head of its new operat-
ing unit, Paul Bascobert. The conversation has been ed-
ited for clarity and length.
Q: Tell us about new products you might launch.
Bascobert: If you go back to think about what a local
newspaper was, even 20 years ago, you were provided
with news and information. But you also had connections
to the local community through classifieds, which con-
nected you with local providers. You could find a dog or
cat, personals, a car, etc. We think we can actually go
In this Aug. 13, 2019, photo Gannett CEO Paul Bascobert poses back to that through better digital innovation.
for a photo in McLean, Va. Q: You have 140 million online visitors, but that digital busi-
Associated Press ness is small for each local paper.q