Other answers are very much on point, but I want to flag a point others are not focused on.
While I’m currently living with my parents and paying $700 per month in rent, I’ve been thinking seriously about saving more aggressively now that I’m just starting my career.
You should absolutely be doing this, and it should be a focus. I don’t think it’s a reason not to donate, but this has been discussed several times before.
Other answers are very much on point, but I want to flag a point others are not focused on.
You should absolutely be doing this, and it should be a focus. I don’t think it’s a reason not to donate, but this has been discussed several times before.
https://forum.effectivealtruism.org/posts/ZXQ53du9sBjLZs5XB/how-to-balance-personal-savings-and-giving
https://forum.effectivealtruism.org/posts/psvQMXEgQsT5RMDTu/consider-financial-independence-first
https://forum.effectivealtruism.org/posts/w9ENDad268PT9KnWn/thoughts-on-personal-finance-for-effective-altruists
And on donating now vs. later,
https://forum.effectivealtruism.org/posts/7uJcBNZhinomKtH9p/giving-now-vs-later-a-summary