28. Finances 101: 10 Perspectives - From my point of view. 2. Five Perspectives: Values. Value #1: T


Last week, in my first post, I wrote a bit about the major goals and principles I set for myself as a guide to help me along the way when it comes to finances. I didn’t know at the time, I just felt it was the right thing to do. But til today, no regrets in my decision thus far.

Today, I want to talk about thankfulness and gratefulness. Since I started receiving an allowance from my mum after form five, when I started college, I felt that the money I received was not mine, but that I functioned as a steward, to take charge of the finances given to me, and it was my responsibility to manage it well.

From a faith perspective, I also learnt from the Bible that it was an act of discipline, faith, thankfulness and of stewardship to give a portion of what one earns back to God. That magic number, I learnt at that time, was 10% of your income.

One might ask, " Why would you want to give a portion of your allowance back to God? It's not your income". While that line of thought may be true, I was less concerned about the technicality of the whole thing and saw it more of a value to instil within myself and also a discipline I wanted to develop within my muscle memory.

Tithing

To get into a good habit and make it into a way of life, I started setting aside 10% of my allowance to give as a tithe in church on Sundays. I started this at 17 years old.

Until today, I thank God that I still continue to practice this, and the act is already ingrained in my subconscious that it is a given, not putting it through much thought any more.

What I gained from this practice, you might ask?

Plenty. I lived the whole past 20+ years of my life, 18 of them at work, exercising a faith discipline, as well as making myself realise that I can survive on 90% of my income.

Thankfulness to my parents.

Appreciation is also a good practice to start from young. From the moment I earned my first monthly pay check/salary, I gave a small % back to my parents. When I first started, the amount was small. The main thing however, was not the amount, but inculcating the practice of giving, giving a portion of what you earn back to those whom you are thankful for.

I am thankful that up to date, these practices remain a staple of my life… and it keeps me in a state of gratefulness, remembering that I did not make it on my own, that where I am today is due to other key persons in my life.

Giving to others whom may not be as well off as yourself.

Another form of giving that you may want to consider, though I myself did not start until later in my work life, once my income is more stable, is to the poor and needy.

We can cover this later, once we balance out our other priorities etc.

So how will your financial statement look like at the beginning?

Assuming this is your first job and your starting salary is not that big…

Value 1: Thankfulness

Gross Income: ABC

Less:EPF

Less:SOCSO

Less:Tax deduction

Net Income: XYZ

Setting aside:

10% of Gross Income for Tithes to church

X fixed amount for parents

Live with the balance.

Manage the balance.

Next week, I'll look at building a foundation of finances, based on what work I will be doing….. Stay tuned.

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