From Peter Singer, Ira W. DeCamp Professor of Bioethics at Princeton and a Specialist in Applied Ethics..
" Effective altruism is based on a very simple idea: we should do the most good we can. Obeying the usual rules about not stealing, cheating, hurting, and killing is not enough, or at least not enough for those of us who have the great good fortune to live in material comfort, who can feed, house, and clothe ourselves and our families and still have money or time to spare. Living a minimally acceptable ethical life involves using a substantial part of our spare resources to make the world a better place. Living a fully ethical life involves doing the most good we can. "
Best example of giving is in the Bible:
…43Jesus called His disciples to Him and said, “Truly I tell you, this poor widow has put more than all the others into the treasury. 44For they all contributed out of their surplus, but she out of her poverty has put in allshe had to live on.”