Earning to save (give 1%, save 10%)

Abstract

A common, default action people should be encouraged to take, upon getting involved with effective altruism, is “Earning to Save.” Specifically meaning: Give around 1% of your disposable income (after rent and major necessary expenses) Aim to save at least 10% of your net income. Longterm, if you’re not otherwise planning to shift your career trajectory, earning-to-give 10% is still a good aspiration. But this should be after you’ve made sure you’re on the route to financial security with substantial runway, and after you’ve considered options that would require you to take a lot of time off to learn a new skill, or found a new project/organization.