I am all for tithing, I think it is a very spiritual thing to do.
The trick is, tithing from what number?
Is tithing a?
I have seen many bankruptcy clients over the years who were tithing, insisted that they had to keep tithing, even though the house or car payment was not being made.
So, it is a question of over committing your income.
If works when you have money left after paying your living expenses, but what about when your income goes down?
Have you adjusted your family budget to reflect reality?
Or, a combination of income going down, and living expenses going up?
Like what is happening to millions of Americans these days.
Now you do not have enough money to tithe after meeting the living expenses.
Always two ways to address budget shortfalls: increase income, cut expenses.
The problem I see is people who keep tithing, who can only afford it because they are borrowing more money.
In the old days, that would be from credit card cash advances or tapping the home equity credit line.
Nowadays, people take out 401(k) loans, or IRA or other retirement, to sustain the lifestyle that their income no longer supports.
I have trouble believing the Allmighty is impressed by tithing while your gross debt increases.
This means your tithing is actually being subsidized by VISA or whoever, or by reversing priorities that you set earlier when you determined how much to save for retirement.
I like informed decisions.
Too many of us think, it can’t stay this bad forever, things will turn around soon.
Well, last report is home prices down for the 53rd consecutive month.
I am married to a realtor, so this does not surprise me.
Don’t budget as if good times are just around the corner; budget for the real world as it is now, and leave a cushion to allow for things getting worse.
Tithing While In Debt?