Many years ago I ran across Giving What We Can, a community of people who donate 10%+ of their income to effective charities. The idea resonated: if you say you care about various causes in the world, then you should put your money on it.
So I decided to take the pledge to give away at least 10% of my income each year for the duration of my life. I like envisioning receiving ten dollars and keeping nine of them, while shooting the tenth off to a cause I really care about. I also like being able to help the world while pursuing a career outside nonprofits, and I find it easier to donate to animal charities rather than face those horrors myself (thank you, brave ones!).
Around the same time I came across Giving What We Can, I ran into a “law of abundance” claim that giving away at least 10% of your income will actually attract more money to you. I know this is magical thinking, but I haven’t found this not to be the case, and I’ve grown fond of envisioning myself in some cycle of ever-growing giving and receiving.
In Buddhism, generosity is Dana, one of the most highly-regarded virtues. The practice of Dana is said to “purify and transform the mind of the giver,” and it’s thought that generosity developed through giving can lead to an experience of material wealth in this life or the next.
Ironically, one of my triggers to donate is when I’m feeling bad about my financial situation. I click a few buttons to give money away, and then I feel more grateful, present, and content with what I do have. Likewise, if I feel a nagging concern about plastics, I’ll use that as an opportunity to donate to an organization fighting for a plastic-freer world (shout-out to 5 Gyres!).
When I found it challenging to give 10% of my income, I did a series of interviews with Giving What We Can members to get inspired by some truly altruistic people. I noticed that these people excel at comparing what little additional comfort the money will grant them versus what the money can do for others.
I found it interesting to notice the variation in people’s giving preferences. Some are into eradicating disease or defending us from future AI overlords, while I think it’s most important to protect animals and save our environment.
Give where you want—I believe what’s most important is effectively using your money to create the world you want.
Further resources:
- How Rich Am I? calculator – see how rich you are compared to the world’s population
- Effective Altruism
- EA Global conference – here’s my post about attending the 2017 San Francisco edition