Why I plan on funding $4,000+ worth of loans on Kiva.
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As many of my regulars know I’m a big fan of Kiva.org. Ending world poverty is a near impossible task but it isn’t hard to loan capital to those that wish to lift themselves out of poverty.
So why am I funding $4,000+ worth of loans? Simply put, it’s all the money I have excluding my portfolio or emergency fund. This is money sitting in my checking account that’s been funding my partying and misc other activities. So the real question is why all my money?
I need to know that feeling again. How it feels to be broke. How it feels to have no girlfriend and no money. How it feels like to be “hungry and foolish” again. I’m going back to start.
Hopefully it’ll motivate me like it has in the past to find ways to make more money. Instead of sticking all my money in a CD or something I figure locking it up in Kiva loans would be a more charitable thing to do also. I’ll accept the 2.2% default risk for the greater good to help others lift themselves out of poverty.
So far I have contributed $1,175 in helping fund loans. Every couple of days I’ll look for loans and causes I like and fund more loans until I reach $4,000 or so.