The Ultimate Guide to Credit Cards
Sunday, October 13, 2024

Cardholders Can Support The Life You Can Save And Its Efforts to Aid Worthwhile Charities Worldwide

Cardholders Can Support The Life You Can Save
Andrew Allen

Writer: Andrew Allen

Andrew Allen

Andrew Allen, Staff Writer

For nearly 20 years, Andrew has worked for financial institutions ranging from regional investment organizations to some of the largest banks in the world. At Wells Fargo, Andrew was a Consultant within the Insight and Innovation division. A graduate of the University of Georgiaā€™s Terry College of Business, Andrewā€™s goal has been promoting personal financial wellness and solid money decisions. As a Staff Writer for CardRates, Andrew seeks to inform readers of solutions to help them on their path to financial freedom.

See Full Bio »
Close
Lillian Guevara-Castro

Editor: Lillian Guevara-Castro

Lillian Guevara-Castro

Lillian Guevara-Castro, Senior Editor

Lillian Guevara-Castro brings more than 30 years of editing and journalism experience to the CardRates team. She has worked at The Atlanta Journal and Constitution, Gwinnett Daily News, Gainesville Sun, and The New York Times, where she covered demographics, consumer issues, and the business and financial sectors. Lillian has a degree in journalism and communications from Georgia State University and brings her fact-checking expertise to ensure Digital Brands content is accurate and engaging.

See Full Bio »
Close
Ashley Fricker

Reviewer: Ashley Fricker

Ashley Fricker

Ashley Fricker, Senior Editor

Ashley Fricker has more than a decade of experience as a finance contributor and editor, and has specialized in the credit card industry since 2015. Her credit card commentary is featured on national media outlets that include CNBC, MarketWatch, Investopedia, and Reader's Digest, among many others. She has worked closely with the worldā€™s largest banks and financial institutions, up-and-coming fintech companies, and press and news outlets to curate comprehensive content and media. Ashley holds a bachelor's degree in multimedia journalism from Florida Atlantic University.

See Full Bio »
Close

Our experts and industry insiders blog the latest news, studies and current events from inside the credit card industry. Our articles follow strict editorial guidelines.

In a Nutshell: Individuals seeking to donate to a charity may struggle to select the charity to support. The Life You Can Save is a nonprofit organization that uses a research team to assess where donated funds can make the most impact. The nonprofit allows donors to contribute to cause funds, which spread a single donation to several charities. The Life You Can Save offers tools, including an impact calculator and a questionnaire, that help donors select a charity to support.

In the early 1970s, Peter Singer, who was a graduate student at the University of Oxford at the time, wrote an essay on the moral obligation of affluent people to support humanitarian efforts titled ā€œFamine, Affluence, and Morality.ā€Ā 

In 2009, Singer expanded the ideas heā€™d first introduced in his essay nearly 40 years earlier into a book titled ā€œThe Life You Can Save.ā€ The book became well known in the charitable-giving community, particularly among those practicing or interested in learning about effective altruism.

Charlie Bresler first read ā€œThe Life You Can Saveā€ in 2013 while vacationing in Hawaii. Bresler, who had served as the president of The Menā€™s Wearhouse, had been an activist while in college. He was looking for a new challenge and an opportunity to do good in the world.

Bresler was influenced by the arguments Singer made in ā€œThe Life You Can Save,ā€ especially Singerā€™s stance that people have an ethical obligation to assist individuals living in extreme poverty. We spoke with Charlie Bresler to learn more about how Singerā€™s ideas influenced him and ultimately led to the creation of the nonprofit organization The Life You Can Save.

The Life You Can Save logo

Bresler, The Life You Can Saveā€™s Executive Director, said he was so affected by Singerā€™s words that, after finishing reading the book, he wrote an email to Singer. Bresler had never met or heard of Singer before receiving a copy of ā€œThe Life You Can Save.ā€Ā 

ā€œPeter outlined in the book how a little bit of money, relatively speaking, can save peoplesā€™ lives,ā€ Bresler said. ā€œAfter Iā€™d finished the book, I emailed Peter completely out of the blue and we began exchanging messages. My wife and I then made the decision to provide the seed money to establish The Life You Can Save as a 501(c)(3) nonprofit organization.ā€

Donations Go Further in the Developing World

In 2019, the charitable organization The Life You Can Save purchased the rights to ā€œThe Life You Can Save,ā€ the book, from the bookā€™s publisher. The nonprofit then created an audiobook version featuring celebrities and notable figures reading chapters of the book.

Singer-songwriter Paul Simon, actors Kristen Bell and Stephen Fry, and Singer and Bresler are all narrators on the ā€œThe Life You Can Saveā€ audiobook. Interested parties can purchase ā€œThe Life You Can Saveā€ from select retailers or download it directly from The Life You Can Saveā€™s website.

Charlie Bresler
Charlie Bresler is The Life You Can Saveā€™s Executive Director.

Bresler said The Life You Can Save used seed money and other funds the organization raised to build the nonprofitā€™s staff. The Life You Can Save uses the majority of the money it raises to fund the organizationā€™s recommended charities.

ā€œWeā€™ve moved close to $100 million to our recommended nonprofits over the last ten years,ā€ Bresler said. ā€œWe believe weā€™ve raised close to $15 for every dollar weā€™ve spent on our operations.ā€

The Life You Can Save employs a team of researchers to determine where donations can have the most significant impact. Bresler said donated dollars go further in the developing world than in the U.S. The organization can provide food fortification of minerals to a child in the developing world for an annual cost of only 50 cents.

ā€œWe start with the premise that all lives are equally valuable,ā€ Bresler explained. ā€œOne of the problems that people sometimes have with international giving is they say, ā€˜We have so many problems in the United States, why not just give locally?ā€™. And itā€™s true ā€” we have a lot of poverty, homelessness, and food insecurity in the U.S. But solving those problems in the U.S. is dramatically more expensive than it is in the developing world.ā€

Cause Funds Allow Donors to Expand Reach

Individuals seeking to make philanthropic donations may find it challenging to pinpoint which cause or effort to support. Bresler said The Life You Can Save recognizes the challenge of selecting a charity to support and offers donors the option of donating to cause funds.

Cause funds allow donors to distribute their charitable contributions to several charities with a single donation.Ā 

ā€œWe put together the cause funds to make giving easier for people who may not have the time or resources to research charitable organizations and causes themselves,ā€ Bresler said.

The Life You Can Save offers seven cause funds, including a fund that supports women and girls, a fund focused on saving lives, and a fund devoted to improving educational opportunities for children and adolescents.

The Life You Can Save's Education For All Fund screenshot
The Life You Can Save offers seven cause funds.

The Life You Can Save offers tools to help donors understand the impact of charitable giving. Donors can use The Life You Can Saveā€™s impact calculator to determine the effect of their donations. For example, by entering ā€œ100ā€ into the impact calculatorā€™s USD box and selecting ā€œSeva Foundationā€ in the charity box, donors can see that a charitable donation of $100 to the Seva Foundation can provide six people in low-income countries with eye screening and a pair of glasses.

Bresler said The Life You Can Save provides 100% of the donations it receives to beneficiaries.

ā€œOne of the concerns people can have regarding international giving is they think the money they donate will be ripped off by a government official or corrupt local bureaucrat,ā€ Bresler said. ā€œBut our impact calculator shows you whatā€™s going to happen with the money you give. It gives people reassurance that their donated money is going to support the causes they intend to support.ā€

The Life You Can Save Provides Advisory ServicesĀ 

The Life You Can Save accepts any size donation. The nonprofit offers an advisory service to assist family offices, foundations, and large individual donors interested in donating to The Life You Can Save but unsure where to direct their funds.

The organizationā€™s advisory services can help donors develop a giving portfolio.

ā€œA giving portfolio may be a combination of international and domestic charities that expand a donorā€™s charitable diversification,ā€ Bresler said. ā€œThe advisory services we provide are a really important aspect of our work.ā€

Bresler said international conflicts and natural disasters, which typically receive a significant amount of media coverage, are essential to support financially. But The Life You Can Save focuses on helping people whose everyday financial circumstances present frequent challenges.

ā€œItā€™s really important for organizations to assist refugees who are having problems and those who live in areas that have experienced natural disasters, but thatā€™s not our specialty,ā€ Bresler said. ā€œOur specialty is trying to address the everyday disaster experienced by people living in poverty. We help those who may have to face unique challenges ā€” I would call it the tragedy of everyday life ā€” simply by being born into a particular place and time.ā€