Sunday, January 18, 2015

10-20-70 RULE

I learned about this rule from our Pastor and I decided that I would try it. The 10 means I will give 10% of  my monthly salary to the church which is actually biblical. This is in fact termed as "tithing". A tithe is giving 10% of all produce (plants/animals/anything you have received) to the Levites. This is found in Leviticus 27:30.
The 20 means putting 20% of your salary to your savings which makes sense. Savings is important in that if something important comes up and you don't have any money, you can use your savings. It also helps if you want to buy something for yourself and it costs expensive, you have to save up for it of course. I know some of you are nodding your heads while reading this. Prov. 10:4-5 says that we should save so that we can become rich. Now isn't that what anybody would want. We hope and pray to become blessed financially. An improved life. So we should not spend our money in frivolous things. We should save, save, save.  I gave my kids mouse banks. A variation of a piggy bank. One for each of them( I have two kids) so that they could save some money. I told them if they save up, they could have some money by the end of the year and they could buy whatever they want with it with my blessing of course. What's nice about their mouse banks is that they couldn't take money out of it unless they destroy it. So come December we'll see how much they have saved.

Now the 70 means 70% of your monthly salary is to be spent on expenses like bills, food and gas. If you still have clothes to wear, you don't have to buy new ones yet. You just have to make do. My mother sometimes gives me clothes and underwear. My brother also sends some clothes from abroad so I don't have to spend a lot on clothes. My work requires me to wear a uniform so no hassle. With God's help all things are possible. Matthew 19:26.

There are a lot of things bothering today's moms. I am sure this principle would help those who don't know what to do with their hard earned money. At the end of the year, I will post the result of the 10-20-70 rule in my life. Thank you for taking the time to read this. Please post your comments about this rule. Are you willing to apply the 10-20-70 rule in your lives?