Money Experiment 5: The Art of Giving £1 a Day

Woohoo! A new experiment!

In this experiment I will be committing myself to giving away one pound ($1.31 as of today) a day. This includes giving away to friends, family, charity and even strangers. Read on to find out the why and the how behind this project:

Why?

How many times has someone told you ‘give and you shall receive’? Yep, don’t have enough fingers to count. Plenty of people will say that if you ever want something in life, you need to start by giving. Everyone is so concentrated on themselves that we hardly ever give any more, and that’s why we don’t receive. It sounds nice and humanitarian, but honestly I’ve never been sure of what it really means. What am I supposed to give? How? What would I be receiving? So in honour of my confusion and curiosity, I have decided to turn it into an experiment.

‘Wow’ people say (I see you mother) ‘do you have the money to do that?’ Honestly, not really, I am kind of broke these days. But also it’s not too much money and I know I can survive with £7 less every week. Less beers, more hustle.

give money giving £1 a day
I am now the person on the left

 

How?

Although there are many ways to give and be kind in this world, I will be focusing on giving money or things which hold monetary value (a drink, food, etc).This means I won’t be including throwing compliments at random strangers or any volunteering. By giving away money, I’m able to measure exactly what I’m giving and be more accurate about my feelings.

Here are a few ways I plan on giving away money (if you have more ideas please drop them in the comments!)

  • Giving money to friends and family (buying them a drink, food, or just giving the cash)
  • Homeless (buying them food, dropping coins)
  • Charity
  • Random Patreon pages online
  • Pay it forward (LOVE this idea: I basically buy myself a coffee and then the coffee of the person behind me in the queue)
  • Telling someone they dropped a coin and then giving them your own
  • Donate blood? Not sure because doesn’t really have monetary value

Also, I don’t have to give away £1 each day. I could decide to give £2 to cover two days, or even give £7 on a Monday and nothing else on the other days.

 

How will I track?

I’ll be updating how I’m spending my £1 on Twitter, and will include results in my Track Reports. I plan on doing this experiment for 2 months, and from there I will see how it goes. If I’m careful with my budget, £28 a month is more than manageable.

 

What I hope to achieve

IMPORTANT: I plan on giving away this money expecting nothing in return. I’m not doing this experiment hoping to suddenly receive a load of money from the sky. Not at all.

What I hope to achieve is a change of mentality. I’m always focusing on how to earn more money (it’s really the basis of this blog), so for a bit of a change, I’m going to try out giving it away instead. This could be a waste of time and money (unlikely), but hey, that’s what experiments are for!

money sky giving £1 a day
If money fell from the sky inflation would be LIT

 

I honestly encourage you to join me in the experiment and challenge yourself too! If you feel giving money is too much, why not try a random acts of kindness experiment? You never know what you could learn from it until you try…

Oh and guess what? Today is Monday! I think I’ll start today with a simple £1 to someone without somewhere to sleep.

To keep track of my different ‘money kindness’ acts, follow me on Twitter or follow the hashtag #moneykindness!