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Money Allocation...the Jewish Way

8/9/2010

6 Comments

 

Money Allocation...the Jewish Way

Picture
Money Allocation...the Western Way.

Whatever money comes in...put it in a single pot and spend. 

Money Allocation...the Jewish Way.

Whatever money comes in...
First, we put away the Tithe (10%) - This is money that you give to God's work.
Second, 10% is for Giving - this money is for neighbour needs that come up.  How can we say we love our neighbour if we do not have any money to help them should they have a need.
Thirdly, another 10% is for savings. 
Fourthly, 20% is for investing.
The fifth allocation is the balance of 50% is for spending.

What did your Father teach you about money management?

Our problem is that we have "no margin" in our life.  We live in a race to get things...and are in the same way in a race to get rid of every cent we have.  If we have any money left over at the end of the month...that becomes our savings.  Fat chance in that happening.

ACTION PLAN.

Get five jars and allocate your money in the same way as stated above.
Also,  once the money is allocated you cannot move it from one jar to another.  It must remain in that jar.

For those that prefer more of a tech solution.  Go online or visit your bank and have them set up five accounts for you as stated above.  As money comes in allocate it immediately. 

Let me know your thoughts...

6 Comments
Ray
9/18/2013 05:07:48 am

I think this is a good way to have a succeful financial life. I been looking to try this and i will start right now! Thank you!

Reply
Waleska link
7/27/2014 01:35:34 pm

I would like to know if they tithe of the full amount of their salary or of what they actually receive after taxes...

Reply
nicholas heavisides
11/16/2015 04:54:23 am

They tithe on the full amount of their income [BEFORE taxes].

Reply
nicholas heavisides link
11/16/2015 02:55:39 am

I first heard about this system on the website I shared. I have been using it since then and several members of my family adopted it after they saw how good it is.
I set up 5 bank accounts with the names, spending, tithe, giving, saving, investing. Every time I get paid I allocate the right percentage to each account and never let myself spend more than 50% of my income on myself.
IT WORKS! I have no debts, and I always have something to give to those in need, whether they be people or ministries.

Reply
Pastor Sherman Taylor link
12/23/2018 05:08:44 am

I've taught this in my church since 2012, not everyone sticks to it, but most start it. I personally have not missed a week, but what's amazing just yesterday I called a church meeting to share with them that the system of God works. There really are no words that can describe what I have witness from obeying this amazing Jewish way of doing things! To everyone that is listening I have the evidence documented along with records of amazing increase in my life. To God be all the glory in church. AMEN Pastor Sherman

Reply
rhondy tilley
1/17/2020 07:46:21 am

Would emergency fund fall into the savings category?

Reply



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