Help someone who shows promise.
We are going to die within +/-75 years of being born, and most of us are simply experiments in the gene pool. So quit thinking of yourself as a person who deserves to be alive, and start thinking of yourself as a step in the right direction.
Maybe you are, maybe you aren't, but these things cannot be discerned by individuals. Because to individuals, we all are important.
Pan handlers generally fall under the "don't donate" category. But you may meet someone under the "pan handler" category who deserves support. And don't just give $20 and call it good. Develop a relationship, encourage, and give when in makes sense.
The Renaissance happened in large part because people became patrons. We have Patreon to take a small percentage, or you can care about the people in your area enough to stop the parasitic investor class.
Find someone who shows promise, strike up a conversation, and figure out what they need. Offer it to them. They will be grateful, and you will have helped out a needy individual who will generate both individual profit and, most likely, profit for some bar or art store or indie label or whatever.
Boosting interest helps that individual, but it stimulates in real dollars the local economy.
Do you want to stimulate a foreign economy instead?