When the concept of charity goes too far
Ramsey stated he supports tithing to the church — the practice of donating one-tenth of a person's income to a religious organization.
However, according to Ramsey, you can’t tithe more than 10%, because the word itself means "tenth."
"Anything above that is called an 'offering' to support ... the community work that the church is doing," he said. "There’s nothing wrong with that.”
Ramsey also pointed out that it’s perfectly fine to save for our own needs, including for retirement.
"Wise people save money," he insisted was a biblical lesson.
Ramsey cautioned that Daniel may have misinterpreted his church's message. However, if his description was accurate, Ramsey says it sounded like a money grab.
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How to balance savings and charity
There's a lot of pressure on Americans today to save for retirement. Ramsey Solutions suggests that workers aim to save and invest 15% of their gross income for their golden years.
But it's hard to do that and donate 10% of your income while also covering your needs at a time when living costs are so high.
That's why it's important to strike a balance. After all, faith and finance don’t have to be at odds. Ensuring your needs are taken care of before being charitable with your money doesn't make you selfish — it makes you practical. It can be a good idea to set up a budget that prioritizes your needs but also leaves room for charitable giving.
Often, you can give to charity without hurting yourself financially or causing undue stress. If you’re compromising your financial security or well-being, then you may need to rethink your approach to charitable giving and scale back.
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