Yahoo Movies Easy wins: monthly donations – they feel good and give excellent philanthropic bang for your buck
It takes 50 seconds to set up and it’s the maximum money to the charity and minimum from you
Just before I opened up a new document to write this, I set up a monthly donation to a charity.
It took about 50 seconds.
I opened up the webpage of a charity, clicked on ‘Donate Now’, selected the value of my monthly donation, autofilled my contact details and card information and – done.
I had been intending to support this charity for a while, but had not for the simple reason that I had not. And now that I have, there will be a small reduction in my bank balance every month and in truth, in time, I’ll probably forget it’s there. All the while, that money may be doing something good for someone else.
Related: ‘We can actually make a big difference’: Peter Singer and philanthropic experts on giving well
Maybe you already give to charity – 80% of us do – nevertheless, there’s a very high chance that you could give more, and probably without even noticing it.
Setting up a monthly donation represents excellent philanthropic bang for your time-spent buck. It also is often the preferred way for charities to receive money, in that it is stable and predictable.
Setting up a donation within your pay cycle takes a little more time, but means that the tax is instantly removed from the donation, so it is maximum money to the charity, and minimum from you.
The trick might be in choosing the right charity for you. Philosopher Peter Singer has his own suggestions for what makes for effective altruism, but other experts suggest doing some due diligence but giving to causes and charities which are meaningful to you.
And while giving to organisations and people who are doing good work, or need it, is good in and of itself – there is a selfish kicker: studies show that people who spend money on others are happier.
Literally, everybody wins (easily).
