Do you really need that new car? Isn’t your current BMW still driving? How many designer handbags does one person need?
These are the kinds of questions that rattle through Dr Henry Howard’s head as he overhears colleague’s conversations in the tea room at work.
Henry is a young Australian doctor who has devoted himself to make a positive impact on the world. In his first year working as a doctor in 2021 he dedicated 50% of my income to effective charities.
As enormous as that charitable act was, Henry didn’t stop there. He went on to take the Giving What We Can pledge to donate 10% of his income to effective charities for the rest of his life. Giving What You Can is a community of effective givers with the goal to create a culture where people are inspired to give more, and give more effectively.
And giving effectively is exactly what Henry Howard is doing. He explained why he chose to give in the way that he does:
“At the end of the day I can earn a lot more for charity working as a doctor than I can running a bake sale or doing a fun run, and the most effective charities can transform lives for the cost of a café brunch.”
The concept of giving 10% of your income away isn’t new. Tithing has been around for thousands of years. (Tithe in Hebrew literally means tenth). But in the affluent, modern world it seems like a preposterous thing. After all it’s your own money, right?
That’s not how Henry sees it. He explained that in 2021 when he gave away 50% of his income he was still in the top 7% of earners in the world. Let that sink in. We sometimes worry about what car we drive, or the clothes we wear, and get caught up in our own world. Henry called it a “hedonic treadmill.” We’re always looking for the next thing to buy thinking that it’ll bring us happiness and meaning.
Henry’s message is simple. Indulge less and give more.
“The best things in life are free and the next best things are cheap. My clothes come from op-shops, I pack my own lunches, I drive a 2006 Subaru. I hope to inspire others with my message of simple living and effective giving.”
FIND OUT MORE:
Facebook: https://www.facebook.com/henryachoward/
Twitter: twitter.com/henryachoward
LinkedIn: https://www.linkedin.com/in/henryachoward/
ABOUT IT’S NEVER ABOUT MONEY:
Joe Stephan is a Financial Planner with Stephan Independent Advisory, based in Melbourne, Australia: www.siadvisory.com.au
It’s Never About Money is powered by Stephan Independent Advisory: www.itsneveraboutmoney.com.au
It’s Never About Money is a proud supporter of Cufa: https://www.cufa.org.au/
