Personal reasons why I wished I delayed donations: I started donating 10% of my income about 6 years back when I was making Software Engineer money. Then I delayed my donations when I moved into a direct work path, intending to make up the difference later in life. I don’t have any regrets about ‘donating right away’ back then. But if I could do it all over again with the benefit of hindsight, I would have delayed most of my earlier donations too.
First, I’ve been surprised by ‘necessary expenses’. Most of my health care needs have been in therapy and dental care, neither of which is covered much by insurance. On top of that, friend visits cost more over time as people scatter to different cities, meaning I’m paying a lot more for travel costs. And family obligations always manage to catch me off-caught.
Second, career transitions are expensive. I was counting on my programming skills and volunteer organizing to mean a lot more in public policy and research. But there are few substitutes for working inside your target field. And while everyone complains about Master’s degrees, it’s still heavily rewarded on the job market so I ultimately caved in and paid for one.
Finally, I’m getting a lot more from ‘money right away’ these days. Thanks to some mental health improvements, fancy things are less stressful and more enjoyable than before. The extra vacation, concert, or restaurant is now worth it, and so my optimal spending level has increased. That’s not just for enjoyment. My productivity also improves after that extra splurging, whereas before there wasn’t much difference in the relaxation benefit I got from a concert and a series of YouTube comedy skits.
If I had to find a lesson here, it’s that I thought too much about my altruistic desires changing and not enough on everything else changing. I opted to ‘donate right away’ to protect against future me rebelling against effective charity, worrying about value drift and stories of lost motivation. In practice, my preference for giving 10% has been incredibly robust. My other preferences have been a lot more dynamic.
Personal reasons why I wished I delayed donations: I started donating 10% of my income about 6 years back when I was making Software Engineer money. Then I delayed my donations when I moved into a direct work path, intending to make up the difference later in life. I don’t have any regrets about ‘donating right away’ back then. But if I could do it all over again with the benefit of hindsight, I would have delayed most of my earlier donations too.
First, I’ve been surprised by ‘necessary expenses’. Most of my health care needs have been in therapy and dental care, neither of which is covered much by insurance. On top of that, friend visits cost more over time as people scatter to different cities, meaning I’m paying a lot more for travel costs. And family obligations always manage to catch me off-caught.
Second, career transitions are expensive. I was counting on my programming skills and volunteer organizing to mean a lot more in public policy and research. But there are few substitutes for working inside your target field. And while everyone complains about Master’s degrees, it’s still heavily rewarded on the job market so I ultimately caved in and paid for one.
Finally, I’m getting a lot more from ‘money right away’ these days. Thanks to some mental health improvements, fancy things are less stressful and more enjoyable than before. The extra vacation, concert, or restaurant is now worth it, and so my optimal spending level has increased. That’s not just for enjoyment. My productivity also improves after that extra splurging, whereas before there wasn’t much difference in the relaxation benefit I got from a concert and a series of YouTube comedy skits.
If I had to find a lesson here, it’s that I thought too much about my altruistic desires changing and not enough on everything else changing. I opted to ‘donate right away’ to protect against future me rebelling against effective charity, worrying about value drift and stories of lost motivation. In practice, my preference for giving 10% has been incredibly robust. My other preferences have been a lot more dynamic.