October 27, 2013

what is it about $5?

in my recent crowd funding campaign i chose $5 as the first level of giving.

i almost always invest $5 (or the first giving level) in crowd funding campaigns my friends have started as well as other campaigns i feel excited about. my little bit of money– an additional funder to the overall number, a high five to the folks putting out their project, being a participant in something that matters to me or to one of my people, knowing that every bit helps them reach the goal– those are the reasons i  do it.

i had to practically beg one of my supporters to give at this level. i wanted to encourage $5 investors by showing that others had done it before them. but this supporter had a hard time not giving more. in fact, when i explained my reasons and she agreed to be the first $5 investor she gave it anonymously.

$5 is what i believe almost everyone i know on FB, etc. could kick in without it having very much, if any impact on them. it’s roughly the cost of a latte, a beer, a fro yo; you can’t even get a glass of wine for a fiver unless it’s happy hour! so i figured $5 is a great way for folks to offer me a thumbs up at no significant cost to them while still being able to participate, to show some support. was i ever wrong.

now i don’t give $5 to many causes outside of crowd funding, because it often generates a full blown email or snail mail campaign for more of my money that probably costs more than the 5 bucks i gave.  but this is a crowd funding– no matter what you invest, you click a few buttons to pay by credit card of Pay Pal and that’s it.

so what is it about $5?

i’ve asked a few people and this is what i’ve heard back so far; i’m embarrassed to give the lowest amount b/c
you know i can give more
people will think i’m cheap
what difference will such a small amount make
it’s too much trouble for only $5

i really hoped to have a slew of $5 investments so i could reach my goal without anyone having to put themselves out.

would you please add any other reasons why you or someone you know wouldn’t invest $5 assuming it’s not any financial burden whatsoever? i’d like to collect as many legitimate reasons as possible.

meanwhile, i’m left with the following musings: it appears that most people who think like this invest nothing rather $5. do folks think i included $5 as a way to shame them? how much do the above reasons have to do with giving as an exercise in support vs. self-imaging?

p.s: here’s the link to my campaign

giving when asked directly
January 5, 2012

All the end of year requests for donations, the poor and/or homeless folks on the street, friends or family in trouble. Am I the only one who finds these requests overwhelming and burdensome?

I think not.

Once, I took on the practice of simply giving to everyone that asked me for a full week (but not at the end of the year). Every person on the street, every letter in the mail or ask on FB. And I felt terrific. But why?

I want to say purely from the act of giving. But it wouldn’t be true. It was more because I didn’t have to make a critical decision– to give or not to give? I’d also predetermined the amount I would give, so I was saved from another stressful decision — how much to give.