I was mentioned in a newspaper article this summer regarding this exact topic (with a typo in my name, oops!). Here is the translation:
CB is convinced of the potential of this. Just a few years ago, his job as an IT engineer earned him an annual salary of 32,000 euros. After two years, he realizes that he can give a lot of this money away, without sacrificing his happiness or quality of life. "Of course, you have to be able to secure a minimum threshold of material conditions," anticipates the 29-year-old, who made the pledge in 2019. But generally, people increase their standard of living after their studies, or after a raise: bigger houses or cars, more spending on certain items... But we get used to these expenses very quickly, and research shows that they don't bring significant additional happiness."
The psychology of happiness is quite clear on this point: the accumulation of material possessions does not make us much happier. Once the peak of satisfaction has passed, our level of happiness returns to its initial, pre-purchase level - a phenomenon known as hedonic adaptation (or "hedonic treadmill", to mean that our level of happiness tends to return to the same reference point). CB quickly gave up this headlong rush. The Lyonnais doesn't own a car, and is satisfied with the basic, such as the Interrail Pass and youth hostels for his vacations. From the very first year of his involvement, he set himself the goal of donating anything above the minimum wage. Today, he donates 30 to 40% of his income to organizations carefully selected for their effectiveness - although he admits he would probably go back to a lower percentage if he had children.
For these donors, the satisfaction that comes with acting altruistically far outweighs any sense of sacrifice. CB has long defined himself as a passive person, skeptical about making a difference in the world. "I don't have the network or the resources to influence laws and change public policy, even though it's essential to act in favor of the climate, for example." His discovery of effective altruism changed all that. "I discovered the existence of organizations specializing in the rigorous evaluation of associations, which define which interventions work well and which don't. And that made a huge difference to me. That reassured me enormously. If there are experts, I can support them with a donation. It's within my reach, and it can have a gigantic impact. It's kind of a division of labor."
Full article: https://www.ladn.eu/nouveaux-usages/donner-10-de-ses-revenus-pour-ameliorer-le-monde-cest-de-la-division-du-travail/