Money isn’t inherently a bad thing, but making the accumulation of money your sole purpose in life is a bad thing.
Is accumulating money your top priority?
That’s a question I was forced to ask myself last Sunday. My wife and I went to a different church than we usually go to because our friend’s baby was being baptized. The sermon message was by a pastor I never heard preach. Money was the topic, which I know is a huge issue in the Christian church because there is a wide array of viewpoints. I was pleasantly surprised by the message I heard, though, and there were a ton of valuable (and timely) takeaways whether you are a Christian or not.
After thinking about money and priorities, I came up with the below key points that I think are applicable to most people when it comes to money and life.
Making the most of what you have right now
Making the most of what you have right now, whether it’s a $20k/year or $150k/year income, is probably the most important thing anyone can do with their own finances. When it comes to personal finances (and for Christians, how to honor God through your finances) it’s less about how much you make and more about making the best of what you have right now.
This somewhat flies in the face of how I have approached finances, but it also doesn’t. I am all about having an end goal of passive income streams, getting out of debt, and ultimately having more time and freedom to dedicate towards my family, volunteering, and blessing others. I have been blessed by others in many ways, and I don’t think you need to be wealthy to bless others but it definitely would free up your time and opportunities.
Tithing and Charitable Giving
Tithing, which traditionally has meant giving of 10% of your income to the church, can be a really misleading practice. Honestly, if you are donating to a religious organization you shouldn’t be stuck on a flat percentage of your income. If you can’t afford to give 10%, then give less. If you can afford to give more, then give more.
I’m sure many would agree that giving to a variety of organizations is the best approach to charitable giving. I give a small amount each paycheck to three different organizations and we recently became a monthly sponsor our friend who is a missionary. Donating to nonprofits is extremely important to me and I believe nonprofits can be huge drivers of change in society, but they need the monetary support to expand their efforts.
Money is a means, not an end
It’s easy for money to become an ends in itself because it can justify spending nearly all your waking hours pursuing it. What most people really want is happiness and security. Money can certainly pay the bills, open up opportunities, and give you comfort, but in the end I think relationships and experiences are what people desire. Health is another priceless commodity that money ultimately can’t buy (yes it can help fund care in many situations, but as of today money can’t buy total health and well-being).
It’s important to remember that money can help with many things but should be treated as a means of reaching goals and not an end in itself.
Reflection on Life and Money
Recently I have been going on near-burnout mode trying to manage the website on top of my full-time job. Additionally, our renter recently moved out and coordinating all the upgrades to the rental unit has been a huge time commitment. Between coordinating different contractors and all the DIY projects, it has been exhausting. I didn’t realize until recently just how little free time I had, and how little time I had made for my wife, friends, family, etc.
I know I can make a lot of money if I want to. The question is, what am I willing to sacrifice? Do I want to be the guy who is on his phone at his groom’s dinner trying to close a big real estate deal (if you watch Million Dollar Listing: New York you know exactly what I’m talking about!) or whose kids end up despising their Dad because he never made time for them?
I think it’s important to know what you’re working for, as well as the fact that nothing in the future is guaranteed. By all means, plan for the future, work hard and do a good job at what you do, but realize that there will never be enough money, accomplishments, or job titles to make you truly happy.
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Wow, this is a really thoughtful post. I agree that so often we can get caught up in thinking about the future – how much money you’ll have, what you would do or buy or where you would go – that we can forget to be present in the now.
MillionDollarDiva There is definitely a risk of regretting the past because we look so much to the future. It’s almost inevitable to a degree, but it’s important to take things one day at a time and be somewhat content with what you have right now and truly enjoy what you have right now.
Excellent post, DC. I heard a great teacher of the Word say “Money is the least thing in the kingdom of God. If you can be faithful with the least, you’ll be trusted with much.” Taking that view of money has really changed how we handle our cash. We don’t hold on to it so tightly anymore, which causes us, ironically, to be more responsible with it.
Laurie TheFrugalFarmerHaha that is quite ironic, but I think it makes sense. I think it also makes sense that if you can be trusted with little, you will also be trusted with much.
Great post DC!!! I agree that you should give what you have and not base it on a percentage. Heck if you dont have money give your time which is just as valuable. I believe in working hard but having a balance. I work hard because I want more free time with my family. It is easy to get caught up with chasing money and missing out on what you already having in life. With a full time job, the site/sites, family time can easily become scarce.
YourDailyFin Yep I’m in the same boat as you, where I’m working hard in order to have more time with my family. I want to build a foundation that can give my family more opportunities in the future, and this is step one. Have to be careful to not let it get out of hand, though, and miss out on the things that are already right in front of our faces.
It can be so easy to get caught up in making money and work work work. Thanks for this reminder
BudgetforMore No problem, it was a great reminder for me as well!
That’s sweet that you’re sponsoring your missionary friend!
I agree that “money is a means, not an end.” I don’t want to spend so much time pursuing it that I don’t really live my life!
Holly at ClubThrifty Yeah I am really excited for her. She’s working two jobs right now to get rid of student loan debt before going. She definitely isn’t sitting around waiting for everyone else to fund her mission!
Great post DC! You’re spot on that there is not enough money, things, etc. that’ll ever make us happy. The key is to seeing that now and not allowing life to pass us by before realizing it. More money, generally speaking, is always good – though other things can be much more important.
FrugalRules Thanks John! I agree that having more money is a GOOD thing, though it comes with it’s own (different) problems, but having wealth can be used for some really great things in this world.
Really love this post. It’s great advice to make the most of what we have right now, instead of constantly trying to push the budget to its limits and coming up short. I also love to give back and your missionary friend is lucky to have you!
BudgetBlonde I’m glad you enjoyed it, Cat! It’s very important to not lose sight of what is already right in front of our faces.
Nice post, this really is an area I have to constantly work on. Regarding the tithing piece, I think one of the biggest points that the Bible makes about tithing is that it’s a heart issue, and should be done in gratitude, not under compulsion. We are all blessed by the income we make, and tithing is a way to acknowledge that blessing. I don’t want to sound preachy or anything, but so many people I talk to get hung up on the actual percentage number, like they are trying to “earn” favor through their tithe, when that’s not what it’s about at all. You’re absolutely right in your post, tithing is a practice that can help us keep our priorities straight!
fipilgrim I definitely agree that it’s a heart issue. If you’re heart isn’t in it, there’s a problem. I think people get hung up on the 10% as well, since some can give 1% some 50%. It doesn’t matter the percentage it matters where your heart is at when you are doing the giving.
Great post. Life is not all about money, and sad to say but I’m just now realizing that. But I am making the self-employment switch and will not hate my job for much longer!
SenseofCents I think it’s really tough when you are in a transition stage like you are in. Yes, you may be pulling long hours and seem to be working constantly, but if you didn’t do that your side hustle(s) would never grow enough to become a full-time gig. If you have a plan I think it’s absolutely okay to go hard for a period of time.
I JUST had a conversation about tithing with a co-worker. A client used it in an quote and she wasn’t sure what he meant.
The first time I ever told my mom I wanted to accumulate a lot of wealth she looked like I’d slapped her across the face. While my parents are very financially comfortable, they didn’t raise us to make money a sole focus in our lives. I went on to explain to her that I wanted to acquire wealth because it’s one of the most effective ways to foster change in the world. If you have money it’s easier to found/help charitable organizations or make a difference on a large scale. Don’t get me wrong, there are plenty of small, organizations that are barely making ends meet, who make a huge difference in their communities. I would just like to be able to financially back these types of organizations so they don’t have to worry about keeping on the lights or continuing their missions.
BrokeMillennial I think wanting to help organizations financially is a great goal! I want to be able to volunteer my time and talents to causes as well, and not do it for monetary reward.
Is is so true! Once I really started saving money, I watned to save EVERYTHING and never spend any money. My friends and family constantly remind me to live life! Great post.
Monicaonmoney Yep it’s all about balance! When I am doing particularly good at saving money and not spending it on frivolous things I actually feel a lot better about spending the money because it’s more a “treat” and something I feel like I deserve to do!
I’m not Catholic, but all the non-profits I’ve worked for have been Catholic religious and/or Catholic lay organizations. That is because these organizations are for causes I believe in, like education and support for the needy. I’m a big believer in a lot of the older Christian values of giving to the poor and living without strong materialistic desires. The mega-church craze that I grew up in–that it was ok for church ministers to drive Bentley’s while their parishioners barely scraped by– was not something I supported and it was refreshing to become aware of other Christian faiths that put a big emphasis on helping those in need.
That’s why I think it’s great to be able to work hard while one can to build wealth and then use that so that you can enjoy family and support the causes you believe in. Even if you only make enough to support yourself, all that time on your hands can go towards volunteering at the non-profit and/or church cause that you support!
Tara Zee It’s absolutely crazy the range of views in the Christian church today. You will find all extremes and everything in between. But I agree, it’s definitely important to help those in need.
Several years ago my husband and I had to make the big decision of what was more important to us. Our health or our income? While we were earning good money at the time the stress from being expected to work day and night (literally) was seriously affecting our health. Walking away from those jobs wasn’t easy. We left secure jobs, with excellent health benefits, to pursue something that we enjoyed, albeit, with a much lower income.
The short answer for us is that good health is our number one priority.
TacklingOurDebt Great point, Sicorra, and I think so many people (myself included to an extent) sacrifice their health for more money. It’s good to reflect on what you are doing to yourself long-term and make the best choice you can.
Chasing money is not good. Money can’t buy happiness and health itself is wealth. So if you don’t maintain your health you can’t enjoy your money. Same way if you can’t share and enjoy with your family then it is no point to earn money. I also agree with donations to religious organizations doesn’t need to have set percentage, it should be based upon capability of how much you can donate
Samgill All good points!
Great post! People, myself included, tend to lose sight of the end goal. Instead, they think that money in the bank is the ultimate goal. I need to be reminded that money is the means to my goals – to spending time with family/friends, to be able to tithe, etc.
LisaVsTheLoans I also need to be reminded of my goals from time-to-time because it’s so easy to get carried away pursuing money!
While money is certainly important there are so many other things in life that should take priority. Number 1 is family.
OneSmartDollar I think money is important to just about everyone, but I also think most people, when they really reflect on it, would not rank money as #1.
Great article DC. I was just talking about this with my mother the other day. I told her that I needed to readjust my priorities because I was focusing too much on making money and becoming financially secure. What I was forgetting was living life and enjoying what I had around me now.
DebtRoundUp Sounds exactly like me. I want so desperately to have a large enough income and income-producing assets that I often forget about WHY I want those things.
I really enjoyed this article, David. Getting to the state of our hearts is tricky business. Giving is especially difficult for me, and I think that’s a sign that maybe my relationship with money needs work.
DonebyForty With giving I’ve noticed that starting small can really help. I have auto-deductions from my paycheck to nonprofits, and my goal has been to increase the amount each year, which isn’t too difficult if you start small enough.
Luckily for me my wife keeps me in check. If I start spending too much time focusing on money to the point where other things in my life are suffering she kicks my butt. :)
ayoungpro Haha well that’s one way to solve that problem.
Great post, DC! It’s easy to get consumed by money and forget about everything else. Money is important to me, only because of it what it enables me to do. I can use to create a good life for myself and my family, have many wonderful experiences and share it with others. While I don’t want to be irresponsible with my money, I also don’t want to hoard it. There has to be a balance between earning/having money and enjoying it. After all, isn’t that why most of us want more money – to enjoy it? The act of having a lot of money alone isn’t enough – it’s how you use it (whether you have a little or a lot) that truly matters.
TheHeavyPurse Great points! I definitely agree that the focus should always be on how we use our money and what it enables us to do versus just trying to accumulate more and more of it.
Tunnel vision can be super easy to get with something like money. I think the important thing is to keep in mind why you want to earn the money in the first place. That can help in some form to keep perspective on your journey.
DC, my dad always worked 12-15 hour days, 6,sometimes 7, days a week. He has owned a few different businesses, and no one required him to do that, but it was just what he did. I really never saw him growing up, except for a few minutes here and there, and when we went to church on Sundays. I am very like him in a number of ways, but I would not say we are close. Now, he is having health problems and doesn’t want to quit working, but I’m afraid he will have to. He doesn’t know how to do anything else, and it’s kind of sad. The ironic thing is that my parents now have lots of money, but nothing they want to spend it on except buying toys for the grandkids.
While he’s never said it out loud, I really think if he had it to do over again, he would have been more engaged in the family, and it would be nice to be able to have an easy, fun relationship with my Dad. I guess I’m saying that you don’t want to look back when you’re 65 and see that all of your time was spent at work. I’m trying very hard not to be the same way.
I agree that accumulating more money isn’t always worth it. We might sacrifice too much in favor of earning more. I look at other bloggers and wonder how they balance everything. I know most enjoy what they do, but I like to be able to take a break away from the computer sometimes and just enjoy life. I would say I am mostly concerned with increasing my salary from my full-time job at this point, and then everything else will follow. I have to agree with the mindset that health trumps money; I’d rather have my sanity and not be stressed to the point of exhaustion every day.
The best you can do with your money is being grateful with what you have and making good use of it, saving it for a bigger goal or spending it wisely because wasting it is not giving value to the hard work it took to earn it in the first place.
If I were the church I would feel really awkward pushing people to tithe. As with any precept of religion it is up to each person to decide how they want to interprete it and if mass turns into a perpetual fundraiser they are not teaching a good example.
I love it. The church I went to before the one I am at now the preacher used to preach about money all the time and how we should give the church 10% of our income and then if we wanted to donate to others it should be on top of the 10%. I didn’t really like the pressure of the whole deal.
The church I am going to now is much more laid back and they have never pressured the congregation to put in 10% no matter what. I love to give but some weeks I don’t have a lot.
I agree about living for now and planning for tomorrow. I try to keep that in mind everyday so that I spend real quality time with my kids each and everday and let them know they are loved.