Wednesday, September 8, 2010

Change the World for $1 a Day

Speaking of projects where you use $1/day like the previously-mentioned dress project, I saw a site today sponsored by GoodReads that had the concept of donating $1/day for 1000 days.  The specific project was to send books to Africa:


$1/day seems like so little.  And then there's the rest of the math:
  • Monthly—$30 a month (Pay Period = Monthly, Donation Amount = $30)
  • Quarterly—$91 a quarter (Pay Period = Quarterly, Donation Amount = $91)
  • Semi-Annually—$182 twice a year (Pay Period = Semi-Yearly, Donation Amount = $182)
  • Annually—$365 a year (Pay Period = Yearly, Donation Amount = $365)
  • One-Time—$1,000 (Pay Period = One-Time, Donation Amount = $1,000) 
Even the $365 seems like "not much" when I think of it as all I'd have if I put a $1 in a bucket every day at the end of a year (excepting Leap Year, of course).  The funny thing is that it starts to feel a little different if you ask me if I want to write you a check today for $365...

In a sorta related item, you could change your world for some "spare change"...  I have never really understood the appeal of Bank of America's Keep the Change program: Bank of America will round up every Visa debit card purchase to the next dollar and deposit the difference in your account.  What freaks me out about that is that I hate being imprecise.  I am wondering if all the rounding up with play havoc with my ability to guess how much I have in my account at any given time.  I know you may think that the need to be precise and guessing at my account balance are opposites, but they're not.  I really do know, maybe not down to the penny, but in general I know if I can make a purchase or not.  If you were taking out a few extra pennies every time, I could end up in really big trouble.  I've seen Office Space.  I know what pennies do.  The linked article on the Keep The Change program said that it's unlikely to help you unless you can get to the point of saving $5000.  And if you can save that much, you should probably be putting your money into something with higher yields.

But still, we're taking a small amount and ending up with something big after a while.  So, can I commit to it?  Is it worth it?  Is it enough?

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