Inspired by zestyping’s pledge (hat tip Peter Singer) I have decided to make a similar pledge for 2011. For every Â£1 (or $1 or â‚¬1 or Â¥1) I spend during 2011, I will give Â£1 to an effective charity.
I’m still working on my definition of an effective charity. I’ll focus on that in the coming weeks. I hope to use an existing system of measuring charity’s effectiveness rather than trying to re-invent the wheel. Any tips / suggestions?
In effect, this doubles the cost of everything. Every time I spend, I give, on everything. My current outgoings are approximately Â£400 a month, so this pledge doubles my financial needs to about Â£800 a month. Time to get some projects cranking… 🙂
The spending and giving won’t necessarily be simultaneous. For the next few months I may accrue debt towards charities as I might not have the cash to make payments. But by the end of 2011 I will have settled, and every pound spent will have been matched with a pound given.
As this decision has serious financial consequences, I’m giving myself a 7 day cooling off period. So I can back out, without penalty, in the next 7 days. I don’t expect to.