Last year we gave $10 a week to our church, $100 at Christmas, and then we gave small amounts to other organizations throughout the year. We aren't even giving away 1% of our income.
I used to not worry about this much at all. I was in debt and I have always been very involved in church, donating my time, but now we're in a much different position. In the last couple of years our income has skyrocketed, but we've only given a little bit. And we're thinking it's time to change that.
But what has held us back? Here are some thoughts that run through my head whenever I debate this internally:
- The goal seems to be to give away 10% of your income, but is that pre or post tax? Should I calculate it like I do with my savings rate, including my take home pay and 401K contributions? But then won't I be giving twice on the same money if I donate when I withdraw it? Perhaps I should only include take home pay, and that gives me good reason to keep giving throughout retirement.
- I know we can live on 90% of our income (we currently live on about 25%) so 10% seems easy.
- But when I think of it in terms of dollars (about $20,000 if we use gross income) my stomach hurts. That is about half of what we spend all year. Our spending rate would increase by 50%!!!! It would be easier if we were spending on other things more freely, then I could say "hey, it's just the same as our car payments and cable TV each month."
- I wish we had started giving 10% when we were making very little. I wouldn't feel the jump so much as we would feel it now. Note to self as we're raising our kids.
- I don't think that I have to donate my entire 10% to my church. I like giving to other charities, and in fact I have numerous family members who could use the help. I feel like keeping the money for them just in case they need it (though I know they wouldn't take it).
- Ever since I got my finances under control I have worried about it becoming too important in my life. It's precisely because of how much I don't want to do this that I think we should.
This way we're stretching ourselves and making progress in the right direction.
Phoebe
I think the principle is the same as with saving. If a person doesn't contribute anything to her 401k, but feels like she should be contributing the max amount, it would be very difficult to go from 0% to 20%. She might be advised to begin by contributing 3%, then to add any raises she gets until she reaches her savings goal, thereby reducing the "shock" she would feel. This is much like what you are doing by increasing from 1% to 2%. Way to go on stretching yourselves to give more!
ReplyDeleteYou're right David, and I like the idea of applying raises to the goal - we should give that a try. Thanks for the suggestion and encouragement!!
DeleteI don't know your exact situation but I have learned a lot by reading your blog posts (which I am enjoying!). I'll just encourage you to pray about giving to the church of which you're a part. Giving really increases your faith; and from what you've said, you have the financial resources to be giving what you ought. You should be financially conscious in every area of your life, but when it comes to giving you should do so generously. Not to get anything in return but because you have been given so much already that it's a joy to turn just a tiny portion of it around as a blessing to someone else. Practically speaking, too, I'd encourage you to consider the resources it does take to run a church, and if you're a part of a corporate church body without really contributing to it, then it doesn't make sense to not contribute. Don't get caught up in the details - "pre-tax" or "post-tax" - that's just an excuse. Start giving and your family and your finances will be freed up beyond belief.
ReplyDeleteThanks for the encouragement!
DeleteSharing my personal progression with giving, and in an atempt to challenge your thinking (not level of giving). It is definitly easier if you start out at 10% to keep it there. We have always given at least 10% (on gross), split roughly 50/50 to church and missionaries/other organizations. However giving 10% didn't ensure that I didn't struggle with the issue of control and missunderstanding of what was "mine" vs what was entrusted to me either. For a long time it was definitly a mater of "doing the right thing" to get God's blessing or at least avoid his displeasure. However this is not how God works - we can not earn anything from Him by our good behaviour and to try to do so is us trying to control God. Read the story of the prodigal son, but pay attention to the older brother and what he tries to do (and his assumptions), and how he is the one out in the cold at the end of the story without being able to enter the joy of his Father.
ReplyDeleteThe real challenge for me (particularly in the last 3 years) has been to change my perspective so that I realize that everything I have is God's, and he has only entrusted it to me to make a difference for His Glory. If my boss at work put me in charge of $100000 a year and told me to use it to bring better reputation to the company I probably have any trouble spending it (or giving it) towards that end. But when it came to money (and other things) God had entrusted to me (through giving you life, abilities, a job, spouse, etc. . ) I definitly incorrectly viewed it as my own that I had earned and tried to control every aspect of it. God has really worked on me in this area though through putting me in situations outside of my control. I have much more peace each moment about His provision, and much clearer understanding of what really has meaning and value in life.
So whether you have a lot or a little at the moment, the choice/challenge for you is whether you view it as yours and think you have control over your money (or any other aspect of your life), or you recognize that it isn't yours and you don't have control.
FYI - not that I can predict what will happen, but tracking as we are now we will hit FI at 35 on one income (~50-60% of yours), 3 kids, while giving 10%+ the whole time :-)
Thanks for the really thoughtful comment!! It's so funny that you talk about the concept of "mine" because for Lent our church is holding small groups where we are discussing a book devoted entirely to this topic and it is definitely something that I am currently struggling with and trying to work through.
DeleteI do wish I had just starting giving 10% and kept it there, but alas I can't go back (I'd probably do A LOT of things different if I could :)). But, we did write a check to my childhood church last week, effectively doubling our typical contribution (which we plan on keeping up for the rest of the year). Still not where it should be, but it felt great, and we're excited to keep moving forward.
I can't wait to get to where you are now and how you feel about giving (it's embarassing even saying that I feel like my money is somewhat "mine") but I'm determined to keep working on it and until then I'll fake it 'till I make it.
Thanks again for the encouragement!
Phoebe
It is totally worth it! Not that I will ever be 100% there, but alligning your life with the truth is very freeing. Understanding that you really are not ultimatly in control is very freeing becuase when you fight to be in control of something you can never be in control of you either become anxious (outcome of your goals is uncertain), angry (something blocks your goals), or depressed (your goals appear unatainable).
DeleteThis isn't saying that you don't work really hard and achive greatness. But rather that God is in control of the circumstances of your life, and you are not responsible for controling them, but rather making the best choices you can with what you are given (whether that is adversity or plenty).
John 8:32:
Then you will know the truth, and the truth will set you free.
I totally agree with the temptation to try to be in control. I always say to my husband that it is my greatest struggle and fault. I will keep at it!
Delete