I’ve talked about the importance of paying yourself first, and how living that principle will bless your life. Equally important, however, is its sister principle: pay 10% to charity second. When you pay 10% to yourself and 10% to others, amazing things happen.
This is one principle that I can’t really quantify and tell you why it works. It’s not like the principle of paying yourself first. It’s pretty obvious how paying yourself first leads to a more prosperous and successful way of life. But paying 10% to other people in order to become prosperous yourself doesn’t compute on paper.
Even though it doesn’t make sense at first, let me tell you: it works. I’ve lived this principle since I was a kid. I’m not always perfect at it, and the direction that money goes has changed some over the years. However, regardless of where that money has gone, it has been a blessing in my life when I make sure it goes toward some form of charity.
There’s something that changes within you when you set money aside to help others. I believe that having the ability to choose whether or not to give 5 bucks to the guy with a cardboard sign on the street corner outside Walmart changes you, regardless of what you ultimately choose to do.
The beauty of this principle is that, again, it can be applied to anyone in any circumstance. I love that this principle comes in the form of a percent. This means that it can be adjusted to match your income. If you make less, you pay less. But either way, whether you’re raking in cash or just getting by, this principle leaves you without excuse. No matter how little or how much you make, living this principle will change your life for the better.
For more information on this subject, please download and listen to The Appraiser Coach Podcast Episode: