The day I joined American Bible Society full-time, a colleague of mine called to congratulate me—and immediately suggested the 10-10-80 budget plan as a rule of thumb in serving the Lord. While lying in my bed that night, it dawned on me that, without realizing it, I had been living by a similar plan for much of my adult life. In the following post, I would like to share the proven effectiveness and blessings associated with this a plan in my life.

How does the 10-10-80 plan work?

Pay your first 10 percent to God. Malachi 3:10 encourages us to honor God with our finances: “Bring the full amount of your tithes to the Temple, so that there will be plenty of food there. Put me to the test and you will see that I will open the windows of heaven and pour out on you in abundance all kinds of good things” (GNTD). Set aside this 10 percent of your income to give what God has blessed you with as an act of worship and investment toward advancing his Kingdom. Remember, God has entrusted you with these assets; you simply manage his blessing!

Pay the second 10 percent to yourself. This part of your income can be used to establish an emergency fund account, which is about three months living expenses in case you face unexpected circumstances. You should establish a second account for other known expenses like insurance, car repairs, health care co-pays, weddings, school and more. Then, establish a third account to save consistently toward your retirement.

Pay everything else from the remaining 80 percent. Pay all of your other bills—including rent/mortgage, utilities, groceries, clothes, gas, tuition, entertainment and more—with this remaining part of your income. If you find that you can’t live on this 80 percent, you may want to revisit your standard of living. Think hard about your monthly expenses; you might want to choose a less expensive apartment or house, give up cable or make more of your own meals at home.

In essence, give 10 percent of your income, save 10 percent your income and live on 80 percent of your income. Although this budgeting method isn’t explicitly stated in the Bible, it serves as a simplified version of the financial teachings found in Proverbs 3:9-10, 2 Corinthians 9:7, Acts 20:35 and Matthew 6:21. Another touching example can be found in Mark 12:41-44, when Jesus and his disciples sat near the Temple and observed an impoverished widow tithing two coins. Her gracious act revealed an inspiring truth: she gave more in relation to what she had when compared to those who gave from their surplus.

How has the 10-10-80 plan influenced my life?

From a personal perspective, the 10-10-80 budget plan has proven effective in the past, and continues to work for me today. Not only have I enjoyed a simple lifestyle from my remaining 80 percent, but I have also provided financial assistance to my elderly parents, sent four Bibles per month to those who have never had the privilege of owning one of their own and benefited from the flexibility to help several others in need. Thus far, I’ve always had a roof over my head, shoes on my feet and food on my table. Without question, God has been faithful to me.

If you would like to make an eternal difference, and use a portion of your income to share God’s Word with those who need it most, a member our team would be glad to speak with you. Visit our “Contact Us” page to connect with an Advisor from American Bible Society.