In his book The Most Good You Can Do Peter Singer gives examples of people living various lifestyles as effective altruist. He explains that deciding to live off less money and making significant monetary donations helps people find a more aligned life than those who live a life of continuous consumer spending. Many of the individuals he references say that they expected making sacrifices and living as effective altruists to be challenging, but ultimately found the lifestyle strangely liberating. Singer explains why consumer spending does not lead to happiness by sharing the example of one effective altruist who can see that he is not missing much by not using his money to purchase items. “Ian Ross is familiar with psychological research about the “hedonic treadmill” of consumer spending, which shows that when we consume more, we enjoy it for a short time but then adapt to that level and need to consume still more to maintain our level of enjoyment.”
Singer shows that effective altruists who learn to live off a small portion of their income avoid the cycle of continually buying goods to boost their happiness. For them, their happiness comes from knowing that they are doing the most they possibly can to improve the lives of those who may be suffering the most. They do not direct their resources toward new items which are marketed toward them that they do not need. In order to boost the good they can do their budgets have to be carefully monitored and thought out which allows them to buy what they need and use the rest resourcefully. They are in control of their spending instead of letting their spending and desire to have the most up to date items control them.
Rather than moving through life adjusting their expectations to have more and more goods, bigger houses, and more expensive cars, effective altruists focus on continually using their resources in ways that will allow them to help others. They may expect to move up a corporate ladder and earn more, but as they earn more it will not be directed toward more debt and more payments. Effective altruists maintain a basic lifestyle, and use their additional resources to help others.