Giving a specific percentage is really difficult for me because I’m self employed and my income is all over the place. Not only does the inconsistency make it a challenge, but the bigger challenge is what number what number would I use as my income? My business expenses include things like maxing out a 401(k) match, so would I go with 10% before or after that? My approach the past few years has been to pray and give as I feel led. I’ve found that I’m more excited to give the more time I put into thinking and praying about it, and if I leave it in God’s hands to direct how much I give, and to what causes, I wind up giving more than I would otherwise.
The book that has had the biggest impact on me in this area is The Hole in Our Gospel by Richard Stearns. He was the president of World Vision, so obviously he talks about the causes that they are involved in.
Thanks for sharing some of how you approach giving, Marc. As for inconsistent income, one idea is to give the next month based on what you earn this month. Another is to give some set amount each month and then reconcile your giving at the end of the year.
I’ve always believed giving should be based on gross income. That’s our purest form of income and it helps ensure that giving is truly done from a “firstfruits” perspective — that it’s our first priority before contributing to a retirement account or anything else.
I love the idea of praying about this and trying to discern where God is directing us to give and how much. But I also find it helpful to follow certain biblical guidelines. It’s been helpful to me to view giving 10% of gross income (or other forms of “increase,” such as gifts, inheritance, etc.) as a starting point.
Thanks for the book suggestion as well. I’ve heard good things about that book. I’m going to have to read it.
Great Article! I love reading your posts and agree that hat Randy Alcorn’s Treasure Principle and Money Possessions and Eternity are two of the best money books that I had read.
Have you read God & Money by Baumer & Cortines? Alcorn does the forward in their new book and they flip the script on the “How much should I give?” question and start asking a much better question. They also give a 3 S framework that is beneficial for everyone to work through to find their own Finish Lines.
Thanks for the feedback, Scott. And yes, I have read “God & Money.” It’s a great book with a challenging/inspiring message. I wrote about it here: https://soundmindinvesting.com/articles/view/setting-a-financial-finish-line
Baumer and Cortines are the real deal, setting great examples of proactive generosity and providing a helpful roadmap for others to follow.
Giving a specific percentage is really difficult for me because I’m self employed and my income is all over the place. Not only does the inconsistency make it a challenge, but the bigger challenge is what number what number would I use as my income? My business expenses include things like maxing out a 401(k) match, so would I go with 10% before or after that? My approach the past few years has been to pray and give as I feel led. I’ve found that I’m more excited to give the more time I put into thinking and praying about it, and if I leave it in God’s hands to direct how much I give, and to what causes, I wind up giving more than I would otherwise.
The book that has had the biggest impact on me in this area is The Hole in Our Gospel by Richard Stearns. He was the president of World Vision, so obviously he talks about the causes that they are involved in.
Thanks for sharing some of how you approach giving, Marc. As for inconsistent income, one idea is to give the next month based on what you earn this month. Another is to give some set amount each month and then reconcile your giving at the end of the year.
I’ve always believed giving should be based on gross income. That’s our purest form of income and it helps ensure that giving is truly done from a “firstfruits” perspective — that it’s our first priority before contributing to a retirement account or anything else.
I love the idea of praying about this and trying to discern where God is directing us to give and how much. But I also find it helpful to follow certain biblical guidelines. It’s been helpful to me to view giving 10% of gross income (or other forms of “increase,” such as gifts, inheritance, etc.) as a starting point.
Thanks for the book suggestion as well. I’ve heard good things about that book. I’m going to have to read it.
Great Article! I love reading your posts and agree that hat Randy Alcorn’s Treasure Principle and Money Possessions and Eternity are two of the best money books that I had read.
Have you read God & Money by Baumer & Cortines? Alcorn does the forward in their new book and they flip the script on the “How much should I give?” question and start asking a much better question. They also give a 3 S framework that is beneficial for everyone to work through to find their own Finish Lines.
Thanks for the feedback, Scott. And yes, I have read “God & Money.” It’s a great book with a challenging/inspiring message. I wrote about it here: https://soundmindinvesting.com/articles/view/setting-a-financial-finish-line
Baumer and Cortines are the real deal, setting great examples of proactive generosity and providing a helpful roadmap for others to follow.