Thursday, December 13, 2007

"The Automatic Millionaire" (Chapter 8)

If you have followed this series on David Bach's book, you have noticed that now, just about everything is "taken care of" financially. All debt payments, the mortgage, retirement--it's all being automatically drawn either directly from the paycheck or from the checking account.

However, in this last chapter, Bach addresses one more aspect of life that is a financial decision: giving back.

When I first saw the title for this chapter, I was a bit upset. It is "Make a Difference with Automatic Tithing." While this is another discussion, I don't believe in tithing. I believe in giving. I believe we are under New Testament obligation to give, but that we are not told to give a specific amount. Also, I had trouble with the idea of making my giving "automatic." Bach goes so far as to say that your tithe should be automatically deducted from your paycheck, just like the mortgage.

While I still don't agree with all the aspects of this chapter, after some consideration, I turned around a little. Why? Because Bach is writing a book "for the masses," and he still makes giving a priority.

Admittedly, he speaks of giving to a charitable organization or church (and he leans towards charities), but, still, Bach helps us understand that giving is an essential part of any financial plan. He ends the chapter by reminding the reader that some of the wealthiest people of all time gave, and did so before they could really afford to give!

My recommendation is to give, but don't "automate" the process. Take each week and think of how the Lord has prospered you. Give accordingly.

While I don't agree with the entire chapter, there is still quite a lot of worthy information if you are interested in giving money to a specific charity. Bach takes a brisk look at different ways to accomplish this worthwhile goal.