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Introducing The Life You Can Save mobile app! 2019-07-10T09:46:56.845Z · score: 17 (9 votes)

Comments

Comment by martin_lundberg on Earning to Save (Give 1%, Save 10%) · 2018-12-12T10:29:26.873Z · score: 2 (2 votes) · EA · GW

Great post. I've been thinking and reading a bit about saving vs donating over the last couple of months and more or less came to the same conclusion. If you don't have any substantial savings; it is most likely best to save first and donate later, for the reasons you listed.

Personally I live relatively frugally which enables me to both save 10 % and donate 10 % of my income, and while I believe the overwhelming majority of people in "rich" countries are also able to do this, people are just too used to unnecessarily expensive standards that it is not a viable pitch to have. Having donate 1 % and save 10 % as an introductory pitch makes sense to me.

I also recommend MrMoneyMoustache's blog, which GeorgeBridgwater already linked to in a previous comment.