FreeMoneyFinance talks about the Price of Religion, specifically linking back to Money’s article about 3 families of different religious backgrounds and their struggles with personal finances.
He focuses on the Christian family to start and says that they have struggled against the notion that to be faithful stewards they needed to avoid building wealth. Basically they should be like Jesus. The often worked 2-3 jobs to make ends meet, believing that God would provide somehow. Now they’ve come to the realization that they might have made a mistake in not doing more to ensure a solid financial foundation.
The Jewish family struggles with spending so much more on everyday needs to keep Kosher. They feel guilty that they had to buy a more expensive home, food, even remodeling their kitchen to keep Kosher. Also they have quite a bit of credit card debt from overspending. They are fighting a battle facing every other family in the world.
The Muslim family feels guilty about earning any interest. Thus they tried to avoid savings accounts and credit cards because it seemed to go against the Koran’s teachings. But when discussing with a financial advisor they were pleased to learn they could invest in mutual funds and stocks that follow the Koran’s teachings. They even managed to buy a home without a mortgage by getting a rent to own deal with their bank.
So did religion make them better or worse stewards of their finances? I think worse. The fear of being offending their religion has put constraints on them that perhaps people who don’t have religion never face. I question if perhaps churches/mosques/temples shouldn’t tell their flocks the most important thing is being financially responsible towards their families first, and that will in turn make them more financially able to support their religion? That if churches told people instead of tithing, they should make sure they are debt free and saving for retirement and college? What would happen? Would they listen? Would it make them better stewards of money?
But I’m not religious so I don’t quite understand the perspective of tithing. However, I do accept it is a necessary line item in some people’s budget. I just think it should come after all bills, not before. After all people did make a commitment to pay their rent, utilties, etc.
What do you think about these families and their relationship with money?
17 responses so far ↓
1 FB @ FabulouslyBroke.com // Jun 21, 2009 at 10:21 am
Look at the way America was built. All those Quakers and Protestants — they had rules about what you should do with your cash that we as North Americans try to follow today (well the PF’ers of us)..
Save 10% of your income
Re-invest what you earned into your business
etc etc…
So of course religion plays a role. Everything plays a role in how you deal with money, from culture to your parents’ attitudes, your socio-economic upbringing..
It’s really whether or not you choose to take those teachings so literally that you cripple your finances just to be morally pure that’s the question.
Personally, religion is a load of crock in my opinion, and serves only the purpose of a community to belong to.
But some people take it really seriously, but I think it’s just a ruse to cleanse their guilty consciences because they know they have to work hard at being good, like the rest of us…
2 Meg from FruWiki // Jun 21, 2009 at 12:52 pm
In general, I don’t think just having a religion or even being religious makes you better or worse with money. As you point out, there are qualities often associated with being religious that may help, and some that don’t. But really, I think you can be an atheist and want to live simply, work hard, be good “stewards” of what you have, etc. Likewise, you can be an atheist and rely on the government or charity or others to fix things for you.
And while there are sometimes added expenses from being a strict follower of one religion or another, there are plenty of other things people do or believe in that can cost extra money. For example, being green can cost more in some ways. Of course, you might save money, too, by being less wasteful. And perhaps it’s the same with most religions. You give some, you get some.
As for tithing… the reason it comes out first is because it’s putting god first. For those that believe in it, it is a much higher commitment than earthly bills. Some are VERY strict about it. But in reality, a lot of people still fudge it and some believe that they can spend their time instead. And many believe that they get it back and more even in this life, so they consider it a good investment financially as well as spiritually. (Though, of course, others would say that they shouldn’t expect anything in return in this lifetime, but everyone has their own beliefs/opinions I guess.)
3 momthing1 // Jun 21, 2009 at 4:31 pm
At one time, I was a believer and a member of a Christian church, and tithing is part of the teaching. It is a principal taught in both the old and new testaments. People who want to tithe need to keep in mind that if tithing comes first, then they need to make spending decisions as if they actually make 90% of whatever it is they do make. Where people get into trouble is making spending decisions based on 100% of their income, then trying to make tithing fit in there somehow. It just doesn’t work.
4 chris // Jun 21, 2009 at 5:59 pm
The protestant view is not entirely representative. There seem to be two camps. The first camp that lives by the scriptures that encourage piety. The other that lives by the scriptures of prosperity. There are scriptures that support both thoughts.
I’ve found that with or without faith, you if are diligent you will have periods of prosperity and periods of setbacks. But in general, and again despite embracing faith, those who realistically set and earnestly and honestly seek their goals will find they will meet or come close to meeting them.
5 R. May // Jun 22, 2009 at 1:44 pm
Disclaimer – I’m not remotely religious.
I don’t think being religious makes you better or worse at finances then anyone else. I’m willing to bet that theres as many non-religious people who are terrible with money as religious ones.
It all boils down to how you see money.
Goggle kosher grocery – you get an online grocery store that sells apple juice for $2.89. Grocery store like to play games – they have a special ‘kosher’ section. But there’s lots of regular groceres that are also kosher. It’s about being educated. Quite frankly Ms. Peret hasn’t ‘looked’ very hard.
6 R. May // Jun 22, 2009 at 1:46 pm
Exucse me – she said grape juice. That’s a little pricier but still less then half of what she is paying now. And I still am scertain I can go into my grocery store and find several kosher grape juices in the regular juice section for less than that.
7 JoeP // Jun 22, 2009 at 3:37 pm
Most religions have teachings on the subject of money, and most religions discuss charity. I’d say that if someone is serious about their faith, they will find a way, through their actions, to express how it speaks to them with respect to money.
With respect to tithing, it is a practice of committing a portion of one’s income to one’s church. The catch is to get into the practice early, so that you don’t allow new commitments to take top priority as far as expenses are concerned.
8 Meg // Jun 22, 2009 at 3:37 pm
It depends on what you mean by “better” with money. Since I’m being asked to stereotype, I’d say that religious people are much better at being frugal and giving, but they aren’t as good at earning good incomes and investing/saving. In short, they generally have a lot less, but they are more likely to “live well” on less and be content with what they have.
I’ve known many very religious people, and it is common for them to think that striving for money is a negative thing. So they give away much of what they get and they don’t seek “ambitious” or high earning careers. But if you did a poll, I’d guess they’d be more grateful for and satisfied with their financial resources than the typical non-religious person…
9 JoeP // Jun 22, 2009 at 4:52 pm
Meg, some ambitious or high earning careers involve treachery and deceit, especially those involving commissions. I’ve also seen first hand the behavior of newly-anointed MBA’s who have a fairly ruthless way of getting what they want to further their business (to make more money). While the education itself is not to blame, the behavior is not what religions I know of would endorse.
10 LAL // Jun 24, 2009 at 10:59 pm
Interesting perspectives on religion and money. I’m with FB who thinks religion tithing is crock. I don’t find religion crock, but giving to the church? Probably.
I found it interesting however that the Christian couple felt that having money went against the bible.
11 Meg from FruWiki // Jun 25, 2009 at 12:33 am
“I don’t find religion crock, but giving to the church? Probably.”
As with many beliefs, tithing is something that has definitely been debated by various denominations — and they’ve come to different conclusions. However, even for those that do not believe in strict tithing, the church still needs funds — to build and maintain buildings, to host events, to pay staff, do charity work, etc.
As to having wealth or not… I certainly don’t have a problem with having money so long as it is obtained and used ethically, morally, etc. However, there is plenty in the New Testament against being rich and for giving up what you have to help others in order to become a follower.
12 LAL // Jun 25, 2009 at 9:28 am
True that they have to pay to maintain the church. I wonder though, what would happen if there was no tithing? What would people truly be lead to give? That’s a more interesting question. If people weren’t “guilted” or “lead” into tithing.
13 Meg from FruWiki // Jun 25, 2009 at 12:37 pm
Well, at my mom’s church they don’t really tithe. They pass around the collection plate and people put in what they put in. I’m sure there still is plenty of pressure and guilt in that system, but I doubt they get as much through that as tithing.
I guess most people just put in whatever they have on them. I don’t remember seeing lots of big bills. They’d probably have at least more $20s if there were ATMs in town (just one I knew of as a kid, in the grocery store — and it hardly ever worked).
14 Meg from FruWiki // Jun 25, 2009 at 12:40 pm
Hmmm…. I wonder if that system is more of a budget buster than tithing because a lot of people probably just put in what they have without thinking ahead. Of course, you still COULD plan and think ahead and budget
15 LAL // Jun 25, 2009 at 1:11 pm
Meg that’s an interesting question. That people get into trouble because they give without planning?
16 Aspiration's Purse // Jul 2, 2009 at 7:29 pm
Christians are no different from regular people. The only difference is that they made a commitment to place their hope in Jesus Christ, to follow Him, and to accept forgiveness of their sins. Christians STILL hurt, still GET hurt, still make mistakes, fall and fall short again, and are NO different from a non-Christian in that sense.
You think some hocus pocus poof will make you a person who never fails again?? That was never promised. Quite the opposite.
Yes, I have noticed many Christians do avoid pursuing lucrative jobs that require a lot of sacrificing of friends or family or time. Yes, they may avoid jobs that seem to put money first instead of what God wants you to put first. HOWEVER it doesn’t mean that you have to be dirt poor. It’s an attitude thing. If you are so caught up in being rich that you lose sight of being a loving neighbor, pursuing God, reading your Bible, or all the more important things that matter to God, he is not happy. However, if you can HAVE a lucrative job and STILL BE OF CHARACTER, STILL make sure you don’t do shady things to get that money, and still be a light to the world, so be it. God MADE you that way. Your talents and skills were given to you to impact those that you are around. If you weren’t made to be someone that makes a lot money, it’s FINE. If you WERE, that’s FINE. Just Make sure whatever you DO, you honor GOD.
I am a Christian, and I have a very high paying job, and I did pursue an extremely hard to get career. But I am very careful that I DID NOT COMPROMISE my faith in God and my character to do so. Yes I have made mistakes so there were times when getting there that I completely ignored God in my life and didn’t read my Bible as diligently as I should have, but everyone makes mistakes. I do stick out in Bible studies because I do have a different life than most with the career choice I have made and the school I was able to attend, but this is what God wanted for ME. What God wants for you is different or it could be very similar. I am not going to run away and sit in a corner and rock back and forth saying, “I am scared. I must be poor. I must be poor, I must throw away my God given talents to go sit and babysit kids for $5.00 an hour even though I can do X Y and Z elsewhere.”
We all have a different place in this world.
17 Aspiration's Purse // Jul 2, 2009 at 7:33 pm
PS- It’s a two way street. God promises to make sure you have food and water, but he never said you should sit on your hairy butt and expect someone to come by and shove Twinkies down your throat.
God made us to be laborers, to impact others with our talents, and to spread his love and Word to others.
You cannot ask God to give you a sultan’s chair and elephant and then sit in a corner and sulk while telling everyone you decided to become a toilet cleaner even though you hate it and suck at cleaning toilets.
You must do YOUR part, and leave the rest to God. You don’t just say, “well I have the brains to be an awesome engineer, but since I’m scared of being POOR I am going to go serve french fries. OH MAN THIS TITHING THING IS NOT WORKING!!! GOD LIED TO ME!!”
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