Residents of Colorado Springs need not reach in their pocket this year for change when they hear the familiar ringing of the Salvation Army volunteer calling attention to its donation bucket. In a test program, some Santas wil be equipped to take plastic.

For the test, done in cooperation with U.S. Bank, the volunteers (augmented, when necessary, with paid temps) will be equipped with wireless card readers, so donors can swipe to support the Army's homeless shelter and meal programs.

The program stands to bring in more money for two reasons; the declining value of change, and people's propensity to give more using credit cards than when forking over cash. It may also reassure donors skeptical that 100% of the donated funds will reach the Salvation Army, and will provide documentation for those who wish to claim a deduction on their taxes.

Still, the sound of a card swipe isn't as satisfying as coins plinking into the traditional red bucket. But if the difference brings shelter and food to those in need and Christmas gifts for their children, I can live with the change.

With more and more individuals in need of assistance from charitable organizations and a pronounced drop in donations for charities of all kinds, it is important to find a way to make the most of your charitable giving.

Smart Money Magazine compiled a list of 7 ways to stretch your charitable gifts which will increase the impact of your gift, even if you need to cut back on the amount.

The 7 ways of making the most of your charitable donation are:

• Giving to the neediest organization
• Give more than cash
  
• Use sites that offer matching donations
• Check financial records
  
• Seek reputable outfits
• Skip the middlemen
• Stay Focused