Does Religion Affect Finances?

[bjl584]

I think people in our culture are in debt because they have bought the advertising which is fed to them. To be happy, or accepted, or cool, I must buy a new X. If I must rely on Visa, that's OK, everyone else is too. Pausing to consider whether or not being in debt is a good idea is dull and boring, definately not fun or cool.

A religious person will tell you that people buy into advertising and pop culture because they gave into temptation and strayed from the word of God. Just throwing that out there as a possible argument to the point of view that you stated.

[Petunia 100]

A religious person will tell you that people buy into advertising and pop culture because they gave into temptation and strayed from the word of God. Just throwing that out there as a possible argument to the point of view that you stated.

I'm not following you, how is that an argument?

[bjl584]

I'm not following you, how is that an argument?

You said that people are the way that they are becasue of the advertising that is fed to them. Pop culture, being cool, keeping up with the Joneses, etc. The Bible tells you to reject the temptations of man, not worship false idols, or money, or prestige. It tells you to follow the word of God. So, in my mind, the argument that people are the way that they are because of advertising could be refuted by a religious person by saying that those people lost their way and wouldn't be in that situation had they been a religious person. Basically all of the advertising and temptation in the world wouldn't be able to sway a deeply devote person to give in to it.

I'm just playing devil's advocate with you.

[moneybags]

None of my Jewish friends and relatives are out spending thousands decorating their homes for Christmas.

That's like assuming all of your Jewish friends spends tens of thousands on a Bar or Bat Mitzvah. I think the holiday/religious spending correlates with what type of spender you are in general.

[disneysteve]

That's like assuming all of your Jewish friends spends tens of thousands on a Bar or Bat Mitzvah. I think the holiday/religious spending correlates with what type of spender you are in general.

I agree. I do think, however, that Christmas is far more commercialized than other holidays, though Halloween is catching up. Those of us who don't celebrate Christmas don't get caught up in that (though we spend in other ways related to our religion as I've already mentioned).

And none of us has mentioned holiday meals with family. Whether it is Christmas, Easter, Passover, Rosh Hashanah or some other holiday, having the whole family over for dinner can run into the hundreds of dollars easily so that's another place where one's religion and finances intersect.

[Petunia 100]

A religious person will tell you that people buy into advertising and pop culture because they gave into temptation and strayed from the word of God. Just throwing that out there as a possible argument to the point of view that you stated.

You said that people are the way that they are becasue of the advertising that is fed to them. Pop culture, being cool, keeping up with the Joneses, etc. The Bible tells you to reject the temptations of man, not worship false idols, or money, or prestige. It tells you to follow the word of God. So, in my mind, the argument that people are the way that they are because of advertising could be refuted by a religious person by saying that those people lost their way and wouldn't be in that situation had they been a religious person. Basically all of the advertising and temptation in the world wouldn't be able to sway a deeply devote person to give in to it.

I'm just playing devil's advocate with you.

I see, thanks for clarifying. In your opinion, are religious people free of materialism and debt?

[bjl584]

I see, thanks for clarifying. In your opinion, are religious people free of materialism and debt?

No, not at all.

I do believe that a very small minority of deeply religious people are, but I think that the vast majority of more mainstream religious people are just as bad with money as there are non religious people that are bad with money.

I don't think that a direct correlation between money and religious faith can be drawn. But, I do think that in some cases there are definitely people that are debt free and frugal as a result of their faith.

[Petunia 100]

No, not at all.

I do believe that a very small minority of deeply religious people are, but I think that the vast majority of more mainstream religious people are just as bad with money as there are non religious people that are bad with money.

I don't think that a direct correlation between money and religious faith can be drawn. But, I do think that in some cases there are definitely people that are debt free and frugal as a result of their faith.

This fits with my experience/observations too.

[siggy_freud]

No, not at all.

I do believe that a very small minority of deeply religious people are, but I think that the vast majority of more mainstream religious people are just as bad with money as there are non religious people that are bad with money.

I don't think that a direct correlation between money and religious faith can be drawn. But, I do think that in some cases there are definitely people that are debt free and frugal as a result of their faith.

I'm an atheist, and I believe that religion, or lack thereof has played a hand in my financial status.

For example, religion often plays a hand in setting expectations for life's milestones, such as marriage and children. In general, I find those who choose not to get married or have children (as opposed to those choices being outside of their direct control) tend to be atheist or agnostic. I know that had I gotten married and had children, my financial status would be far different than it is now.

I don't think any solid line can be drawn though between religion and financial status, except in cases where the religion warrants someone to live in a certain economic status, and only then can the line be drawn when that person is adhering to such principles.

[kork13]

Let me start by saying: I AGREE. Religion (or sometimes even the lack of it) most certainly impacts family finances, for all of the reasons that have already been brought up.

Just to contribute my own perspective... While I do spend a significant amount of money on my faith (tithing, holidays & related travel, etc.), my religion also impacts my finances in a POSITIVE manner. My parents (same faith) would say the same thing to this day, having been a part of the church for 50+ years.

My faith very strongly emphasizes self-reliance, particularly concerning finances. Our church frequently urges members of my faith to get out (and stay out) of debt to the greatest extent possible. In cases where debt is often unavoidable for families -- such as for buying a home, going to college, or perhaps (though discouraged) buying a practical family car -- we are taught to go into as little debt as possible. Certainly not everyone follows this guidance to a "T", but many do. It's the reason my family has always avoided debt, and why I've done the same as much as possible.

Another potentially POSITIVE impact is for the families who find themselves in financial trouble, whether for job loss, death of the family's breadwinner, significant medical costs, or otherwise.... Many religions (Christian of all flavors, Judaism, or whatever else) offer various means of support for families in financial trouble. Whether in the form of providing food & clothing, directly providing money (or interest-free loans) to cover critical expenses, or other services to help the family overcome their financial straights (such as providing childcare, job-seeking counseling/assistance, or education & vocational training).

Bottom line, I just wanted to point out that religion can also provide a significant benefit to family finances.

[Ramose]

My faith very strongly emphasizes self-reliance, particularly concerning finances. Our church frequently urges members of my faith to get out (and stay out) of debt to the greatest extent possible. In cases where debt is often unavoidable for families -- such as for buying a home, going to college, or perhaps (though discouraged) buying a practical family car -- we are taught to go into as little debt as possible. Certainly not everyone follows this guidance to a "T", but many do. It's the reason my family has always avoided debt, and why I've done the same as much as possible.

Bottom line, I just wanted to point out that religion can also provide a significant benefit to family finances.

Could it just be that the people who take the advice were already good at managing money? In another thread about how you learned finance, nobody said they learned from the church or religion. Here is the thread; How Did You Learn About Personal Finance?.

What I'm trying to say is, would you have been good at managing your money without the teachings from the church.

[kork13]

Could it just be that the people who take the advice were already good at managing money? In another thread about how you learned finance, nobody said they learned from the church or religion. Here is the thread; How Did You Learn About Personal Finance?.

What I'm trying to say is, would you have been good at managing your money without the teachings from the church.

Valid point. For me, I honestly don't know. Maybe I would have, maybe not. I wouldn't know, because it's all been a part of my life since I was a child. Yes, some people already are smart with their money. But I also know many people who come to the church in all kinds of financial trouble, and learn over time how to turn everything around. Many churches (mine for one, and I've heard of others in the community) offer classes/seminars on learning to manage money smartly.

The other side of my position is that for many people, their faith and religion forms the core foundation for how they live their lives. So if you grow up in a culture of financial and personal responsibility (through your family, religious group, circle of associates, etc.), you have a better chance and opportunity to learn good financial habits. That's how I learned the basic concepts of personal finance, and in that thread, many people do say that it's simply how their family operated, and that's how they learned.

I don't mean to say that in every case someone who is actively engaged in their faith will become financially savvy, but I was simply pointing out that there are many opportunities for people to benefit financially through their religions. Obviously though, this is very much a "YMMV" situation. I understand that many people don't accept or rely upon religious faith, and I'm not trying to condemn or change anyone's personal beliefs. Simply offering a different perspective to the discussion.

[Ramose]

Fair points. I was just curious.

I saw tithing was discussed. How does it work? Is it always 10%? Do you go into church and give the money, or can you set it up so it is deducted from your pay automatically?

Thanks.

[moneybags]

I just came across this article that states that religious life in high school is tied to academic success in high school & college. I guess that could have financial implications.

Religious Life in High School Tied to Academic Success | Psych Central News

[phantom]

Fair points. I was just curious.

I saw tithing was discussed. How does it work? Is it always 10%? Do you go into church and give the money, or can you set it up so it is deducted from your pay automatically?

Thanks.

There is a lot of variance in how people interpret tithing. Some churches teach it as a mandate, others teach it as a suggestion, some use the word without explaining what it means, and some just ignore it. A tithe is 10% by definition. I call anything beyond 10% or anything instead of 10% an offering, but I have known people to call things that I would call offerings tithes. People can also disagree on whether or tithe should be 10% of pre-tax income or take home page. Churches I have belonged have collected tithes and offerings together without actually knowing what percentage of their incomes people are giving. They tend to suggest that people give what they feel called to give and are able to give. But, my in-laws belong to a church where they do ask people who wish to be leaders in the church to show their pay stubs to prove that they actually tithe. So, some churches are definitely stricter about it than others.

I've never heard of a church taking money directly from a paycheck, but at the last church we belonged to, there was a direct debit option where you could have any amount you liked taken from your checking account on almost any schedule you liked. So, you could time things such that you would pay your tithe as soon as you got paid. The alternative was placing cash or a check in an envelope and handing it in during the weekly service. We opted for direct debit because we like doing everything electronically. We are currently looking for a new church, so we don't have a church to give our tithes right now. Until we join a new church, we decided it would be best to give our tithe money to other Christian organizations.