Get Happier, Help Others: Some Good Ideas About Giving
Dec 2, 2024
auto_awesome
Join Dr. Laurie Santos, a Yale psychologist and host of The Happiness Lab, and Elie Hassenfeld, co-founder and CEO of GiveWell, as they delve into the surprising joy of giving. Discover how spending on others boosts your happiness more than spending on yourself. Learn about impactful charities and the effectiveness of small donations. The conversation also highlights the psychology of generosity, challenges in effective philanthropy, and the unique contributions from the poker community to charitable causes. Tune in for insights that could transform your approach to giving!
Charitable giving is shown to enhance personal happiness significantly more than spending money on oneself, highlighting a common psychological bias.
Evaluating the effectiveness of charities, as done by GiveWell, allows donors to make informed decisions that maximize the impact of their contributions.
Addressing psychological barriers and raising awareness about the tangible impacts of giving can encourage individuals to embrace regular charitable acts more readily.
Deep dives
The Psychological Benefits of Giving
Research indicates that giving money to charity has significant psychological benefits, often leading to greater happiness than individuals anticipate. Studies reveal that people report feeling happier after donating to charity compared to spending the same amount on themselves. This disconnect arises from our misjudgment about what contributes to our happiness, as people often undervalue the happiness derived from helping others. By understanding this psychological bias, individuals can seize the opportunity not only to improve their well-being but also to positively impact the lives of others.
Understanding Effective Charitable Contributions
When it comes to selecting charities to support, the effectiveness of the organization significantly influences the impact of donations. Research efforts by entities like GiveWell focus on evaluating charities based on their measured outcomes, helping donors understand where their contributions can do the most good. For instance, certain organizations can save a child's life for as little as $5,000, demonstrating the potential effectiveness of targeted donations. This emphasizes the necessity for donors to look beyond personal preferences and consider evidence-backed charities that yield the highest returns on investment for humanitarian efforts.
Addressing the Barriers to Giving
Many individuals face psychological barriers that hinder their charitable giving, including feelings of uncertainty and friction about the act of donating. Overthinking and fear of making the wrong choice about which charity to support can lead to inaction. Simplifying the process, such as through tools that direct funds to proven effective charities, can help reduce this friction and encourage individuals to give. Embracing the habit of actively practicing kindness and generosity can also help mitigate these barriers, making giving a more regular part of one's routine.
The Importance of Seeing Impact
People generally experience increased satisfaction from charitable giving when they can witness the impact of their contributions. There is an innate human desire to see how one’s efforts translate into real-world effects, making high-visibility projects more appealing to donors. Interestingly, even when the impact isn't directly observable, such as through nuanced programs like unconditional cash transfers in impoverished regions, the act of giving itself still fosters happiness. Raising awareness around the positive consequences of less visible giving can enhance individuals' motivation to contribute.
Changing Perspectives on Philanthropy
The landscape of philanthropy is evolving, driven by a growing focus on data and effectiveness rather than traditional altruistic narratives. Organizations like GiveWell are reshaping how charity is perceived by demonstrating the importance of measurable outcomes in philanthropy. The rise of analytical approaches in charitable contributions reflects a broader cultural shift influenced by industries focused on metrics and returns. This shift indicates that donors are increasingly seeking to understand the tangible impacts of their contributions, resulting in a more informed and results-oriented giving culture.
It's the season of giving: colorful paper and shiny bows, sure, and charitable giving, too. In this special episode, Jacob Goldstein, the host of What's Your Problem, gets smart about donating.
Did you know that spending money on others makes you happier than spending money on yourself? Or that altruistic nerds have discovered four of the most impactful charities in the world (per dollar spent)? Have you ever wondered how poker players think about giving?
Dr. Laurie Santos from The Happiness Lab, Elie Hassenfeld of GiveWell, and Nate Silver and Maria Konnikova from Risky Business talk about how to maximize your giving – and why you’ll be happy you did.
