Is Donating 10% of Profits to Charity too much?

[Trevor Kuntz]

For anybody that is (considering) giving to charity I would recommend to read a little bit about effective altruism:

Effective altruism - Wikipedia

en.wikipedia.org

Ineffective businesses go out of business sooner or later while non-profits don't.
$1 donated in an effective way can results in a lot more good being done than $50 donated to an ineffective charity.

That is a good starting point. As you will see in that link, one of the main proponents of effective altruism and of utilitarianism is the Australian philosopher, Peter Singer.

The podcast, Hidden Brain, just released a two part episode profiling Singer and his beliefs and how they apply to the real world. As a side note, the first part also addresses the negative outcomes of the COVID shutdown and debating whether the ends justify the means. I recommend both parts.

Justifying The Means

When we are asked to make a moral choice, many of us imagine it involves listening to our hearts. To that, philosopher Peter Singer says, "nonsense." Singer believes there are no moral absolutes, and that logic and calculation are better guides to moral behavior than feelings and intuitions...

www.npr.org

 

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[xmartel]

So what you are saying is that before you ever get the business going good, you both already disagree on how the business should be structured. Get ready for a fun business and personal life.

I believe this is an ignorant thing to say. I've built a successful marriage while building a successful business with my wife for many years, so I do have some experience in this area.

If you have a marriage or business relationship that has no disagreement ever, then you've got a problem.

If you live with someone that just agrees with everything you believe, then you're just living in an echo chamber and not being challenged or growing as a person.

Successful marriages are rife with disagreements. But you communicate and talk the issues through like mature adults and come to an agreement that is often better than what either of you started with in the beginning.

As iron sharpens iron, so one person sharpens another.

To the OP.
Having this disagreement is good. Talk it through and wrestle with it. It may take months. But if you both act mature I think you'll find that you come to a good solution in the end.

As far as what you should do, I won't say. That's between you and your wife, and every business and relationship has different goals.
All I will say is maybe start with what your vision is 20 years from now for this venture, then start acting like that now.

 

[Ouroborus]

I dare you to give double what your wife is asking you to give for six months. A full 20%. Track every single expenditure, every single bill, every single profit. Then, at the end of six months, stop giving to charity completely. Track everything again.

You will see a clear, yet bizarre, correlation between your overall income increasing when you give and decreasing when you do not.

Don’t believe any of us or disagree with your wife until you test this theory.

I can vouch for this with 100% surety that what @Primeperiwinkle said is true.
I don't know how this works. I can also confirm that after donating my set amount of money I just forgets about it, so it maybe subconscious force working or not, I don't know..

Also, my purpose & conviction for giving is strong & personal. I believe that every girl should be educated,

In my country the education & academic future for girls is really messed up & if my mother wouldn't have gotten her education then I won't be writing this here on TheFastalaneforum.

So @Young Money If 10% is too much then do 5, heck even 3 would be enough.. But something needs to be given back.. that's the law of the land bro.


Thanks,
Best Regards.

 

[epham]

I dare you to give double what your wife is asking you to give for six months. A full 20%. Track every single expenditure, every single bill, every single profit. Then, at the end of six months, stop giving to charity completely. Track everything again.

You will see a clear, yet bizarre, correlation between your overall income increasing when you give and decreasing when you do not.

Don’t believe any of us or disagree with your wife until you test this theory.

Interesting challenge and experiment! This highlights a great point which is to adopt an experimental mindset. Really, you and your wife have guesses as to the outcome of implementing the % allocation rule, but no one really knows for certain the impact of that rule.

 

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