Now that wifey & I are free of paying to stay in the club we have found a budget surplus.Good for you, ubme. As a financial planner I'm all for giving money to causes or people that are important to you. Good for the soul and a good reminder not to be too attached to material things.
What do we do with all that extra cash?? Well we bought a new 50K SUV to haul all our kids around in on our free weekends & do fun family stuff.
Having extra cash to buy a nice car with has another worth while purpose. DRIVING MY TBM NEIGHBORS ABSOLUTALLY NUTS, they can't figure out how we can afford a nice car & I'm not sharing my secret.
Whats everyone else done with that extra 10%?????????
But when you're not giving out of religious compulsion, you can decide on a level of giving that makes sense for your income and savings needs. In all likelihood that level is far less than the 10% of income Mormons are used to giving. I hope the first thing you evil PostMos do after stopping the tithing drain is buy yourself something nice. But then I hope you get your 401(k) contributions up, pay off credit cards, build a small emergency fund, and then open a Roth IRA.
ETA: I posted over top of Peter_Mary, hope I didn't convince anyone NOT to contribute to PM's scholarship fund. I'm sure it's a worthy cause.