Musings on Life

I am crazy about micro-lending! My friends say that it I do it for self satisfaction rather than the actual need to help people. I have to say I agree.

Coming from India, It has been a privilege to have seen that micro-lending actually works. But is is funny to see it being paraded as the means for the end for poverty in the third world. The poverty is caused by myriad factors way beyond the control any outsider. But as it is our prerogative in developed countries to be right, we seem to know exactly what is right for the poor of the world.

The developed economy is based in distractions and creation of more distractions. this way the masses can spend the money that they have earned on something that will give them momentary satisfaction and thereby keeping them distracted from things that really matter.

I partake in these activities but can’t help but feel the uselessness of wasting money and time chasing every god-damn butterfly that passes by. So I get a better satisfaction when my money is given away to some man or woman who is actually working to make their own or their families life better.

So the question is that is this selfish? I have to say that all charity is selfish and this is no less selfish than the next one out there. But the fact that makes micro-lending so cool is the fact that you are recycling the same money to help more people. You lend they pay back and you lend again.

I lend on kiva.org. I don’t make any money from it, in fact lose money because of inflation. But I can still see that the money lent has helped twice the amount of people when compared to just giving the the money as a gift.

I believe in maximum value for money and as far as helping people is concerned it just doesn’t get any better than this.

Let me give you some statistics so that you can see for yourself. You can see the stats below at this link http://www.kiva.org/lender/abhishekcheriangeorge

I have been fortunate to make 87 Loans on Kiva; that is $2,175 lent. But of this $1,167 was loan made from repaid loans. So the amount I really lent is $1,008. Which means each that dollar has done work that is at least twice its value.

Of the 87 loans 4 loans are late on payments. The rest are all in good stead. And I being a person with loose fingers have $1000 worth of savings in Kiva which I can withdraw via Paypal when loans are repaid. (Not that I plan on taking the money out any time soon).

I have made an graph of what Kiva can do with your money in 3 years.  Assuming a loan of $50 per month and a repayment period of 8 months per loan. After a loan is repayed you lend again. So $50 lent becomes $100 lent in 8 months time.

It is clearly visible what Kiva does for the needy, if you have any other method that multiplies your donations let me know, coz the world needs it. If you feel the need to be a responsible citizen of this earth, It is easy to start. Head over to kiva.org and start giving. You can join my team The Chaosactive Foundation to join forces to give more.

Published: Friday, January 1st, 2010
Filed under: Thoughts & Brain-Farts
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