A vulnerable post like this was well worth sharing. I'm sure it wasn't easy to open up about this, but I bet many others can relate. I like the idea of re-committing vs. trying to make up for years of backfall - which may likely lead to more stress and an "all-or-nothing" mindset that may cause you to circle the drain.
I think your point about donating monthly and making your giving more of a consistent habit is important. When it comes to planning, have you considered any other resources to keep up the habit? Some simple ideas that could help:
- Set up your recurring donations in parallel with the timing of your paycheck. This way you can ensure you meet your donation goals before you spend all your income.
- Put a reminder on your calendar once a month to make the donation, or to check the donation has been made. You could pair this alongside anything else you already do once a month e.g. when review your monthly spend, when you pay your rent, when you change your bedsheets, or whatever it is that you do consistently. That way the habit is tied to a habit you already have.
- Take a deeper look at your finances to determine whether the 10% pledge is truly feasible for you. If it’s not, that’s perfectly fine, just adjust to a level that feels more reasonable. You may also find that simply getting a better handle on your finances makes donating feel easier and more natural. To help with this, I recommend tracking your spending regularly using a tool like Monarch Money or Lunch Money. This will not only give you a clear view of your overall spending but also help you see your donations each month.
Starting afresh seems like the right move here, and I think it's super commendable to share that you're re-committing.
I have the same problem when it comes to end of year donations, and that prompted me to move to monthly donations (even if the idealized version of me would save accordingly and then make bigger donations more thoughtfully EOY).
Also:
This is still a lot of money, and a lot of good. Giving 5% of your income to charity for almost 10 years is a hugely generous and selfless thing to do :)
The way I managed this in the past was having a separate bank account for charity, and splitting my income when I was paid, then making donation decisions later - often at year end, or when there was a counterfactual match, etc.