My last post on financial peace, made me think a lot about what I will do once I’ve accomplished my three main goals. For those who don’t know they are paying off debt (done!), having 6 months income saved and paying about 15% of my income into my retirement savings – both through work and an ISA each year. So my thoughts have drifted onto what changes I will be able to make once I’ve accomplished my goals, the very first thing I want to change is the amount I give away each month. Currently I am giving (charitable donations) the lowest amount I have ever given since beginning my working life. I sponsor a child for £18 a month through world vision and then use whatever is left from my £40 spending allowance each month (which covers meals out, gifts, make-up, cleaning supplies, stamps, shampoo/soap etc). Usually this is between £4 and £8 a month and given to charities like Big Issue and Christian Aid.
So how would I like this to change? Well I’d like to be able to give at least 5% if not 10% of my income each month to charities I feel provide services and support to those in most desperate need. I like the idea of tithing, but personally won’t be giving 10% of my income to a religious institution although am very happy to support organizations with Christian (or other faith) roots or focus’.
So what would I like to be able to do?
- Pay for 1 child to have cleft lip & palate surgery each year!
- Provide a monthly donation to Water Aid – how can everyone not be entitled to clean water?
- Pay £150 a year towards a KIVA loan
- Sponsor a child with HIV in Africa
- Donate money to programs supporting women in Africa with fistulas
- Sponsor an older dog, cat and rabbit at a small animal rescue
- Give a monthly donation to a charity that supports children with disabilities in orphanages in Russia
- Give a monthly donation to the Red Cross because the amazing work they do in countries devastated by war, humbles me
- Pay for one child in an orphanage to have surgery each year
- Give a monthly donation to shelters that provide safe havens for women & children who are the victims of abuse
- Pay for my dear mum, who has never travelled, to have a yearly holiday!
All of this would take about 10% of my income (not including my mum’s holiday). Knowing this will be possible within the next year makes me feel exceptionally motivated to continue on this path! As I begin to make this possible, I’ll do a post on each charity so that others can read about the amazing work that can be done!
On another note I’ve had a large number of email requests from people re how I keep my shopping budget so low, so tomorrow I’ve decided to take you all grocery shopping with me (virtually of course) and will show all my meals over the next 5 days (Saturday – Wednesday!)
Oh beautiful. What an inspiring post!
You’re such a good person
Not at all Sharon, I just think I have the capabilities to earn and so many many people don’t deserve the life they are in, so many (millions) of innocent babies are born each year with no education, health or life to look forward to. Makes me emotional even thinking about it!
I had asked the question on my blog about giving a larger amount to one organization or spreading the love to lots of others… I see you’re big on dividing it up and your list seems great! I tend to still give bigger amounts and I keep all my money in Canada, so far. I guess we are all different in our giving
Hi Canadian Saver, yes I do tend to split it up – some in monthly donations others in lump sums!
I do both domestic (UK) and international charities because once I started studying and working abroad and saw people dying of completely correctable issues or because of the water they drink it made me see the need overseas and I changed my giving to do both! But I know people who do all of one ie. domestic or all of the other i.e. international! There is certainly need in every country isn’t there? However sad it’s true, even the wealthiest countries in the world have dire poverty….sigh!
It was great to read about your donations as well, I think it’s wonderful how we have so much choice to do what we feel is right for us!
Giving to worthwhile causes must always be a priority. I would encourage you to keep uping your goal until you can give 10%.
I totally agree with you, FT, but sadly the majority of ‘wealthy’ people are more concerned with gathering stuff than helping those who are less fortunate so I stick with what I said: you ARE a good person – the type of person we should all be.
I agree with Sharon. We currently give $25 a month but considering we have 2 incomes and bring home in the region of $5250 a month that’s pretty low, must be less then 1% I think. I’d really like to get it to $100 a month. I agree about helping countries where there isn’t the resources to support themselves. The suffering isn’t something we see here. I might look into sponsoring a child, right now the $25 is sent to an aid agency who works in in Africa.
You know what’s a lot of fun? Micro-investing. See kiva.org – you invest $25 in a micro-business which you chose from their list – and when the loan is repaid the money is credited back to you — though without interest. You can then re-loan it or take it back.
I found out about it when I was doing some work with other micro-credit agencies.
Love your blog!