At Giving What We Can, we're hoping to speak to people who are interested in taking the Giving What We Can Pledge at some point, but haven't yet.
We're conducting 45 min calls to understand your journey a bit more, and we'll donate $50 to a charity of your choice on our platform in exchange for you time.
[Edit: we've filled up the spots for these user interviews for now! Thanks so all who have participated]
Hi. I don't think my explanation would take 45 minutes to explore, but I can share the basics of my thought process: I'd feel pretty dumb if I donate a few thousand dollars, and then a year later I don't have enough money to pay for basic necessities. I've never had both A) a feeling of financial stability, and B) the confidence that such stability would continue in the future. Thus, I've wanted to build up a 'nest egg' for myself so that I won't starve or be homeless.
A is pretty easy to explain and understand. That covers times when I've been employed on short-term contracts, or when life has been in flux because I was moving from one place to another, or simply when I earned money that wasn't enough to cover both my basics and my financial goals. B is simply times when I've had a good job, I've known it wouldn't last forever, and I've known that I would eventually need my savings to pay for food, clothing, and shelter. One doesn't know how long it will take to find new employment. If it takes two weeks that isn't a big issue, but if it takes months and months that is something I want to be financially prepared for.
If I had a skillset that was highly in-demand in the job market or if I had tenure at a famous university, then I wouldn't be as concerned about income and supporting myself financially. As much as I admire the Oxford professors who donate a large chunk of their income each year, being tenured means more-or-less guaranteed income, making the decision to donate relatively low risk. If I had a big chunk of guaranteed income, I would certainly donate. Or if I had a life more like some of the earn to give folks I've read about, then I would do the same (attending a well-known and well-reputed school, studying a field that gives good career prospects, meeting a life partner relatively early in life and sharing expenses, living near a supportive family, earning a strong salary for many years, having family and network in a place with plenty of professional opportunities, living in the same city for the whole career and thus building a long-lasting network of professional contacts, working for well-known and well-reputed companies, etc.). But through a combination of circumstances external to me (such as where I grew up and what fields I was introduced to early on) and of my own choices (such as being drawn to fields that tend to not earn much or be highly respected), I don't have those resources and that stability.
EDIT: My current perspective feels a bit extreme or outrageous, but I'd like to save up and have enough money so that I am financially stable/secure/independent, and then donate. But if I had some kind of foreknowledge that I would always be able to secure employment within a month and the employment would always be at least moderately enjoyable and pay me at decently good amounts, then I would probably be comfortable to start donating now.
And moreover, since 10% is a ~arbitrary figure anyway, it is possible to inculcate this habit at a 1% or even 0.1% level. To the extent that one is creating a habit, the amount shouldn't matter much as long as it is meaningful to the giver.