Welcome to the Family!
Congratulations on committing to a finish line! That’s a big deal! And for some reason, filling out a little form with the actual numbers makes it feel even more real.
There are a few things that we always recommend to anyone who decides to make a formal commitment to percentile living.
Structure your accounts. Find a system that allows you to keep track of what money is for your operational costs and what is to be given away.
Find ways to give. One of the most satisfying parts of actually committing to a percentile is finding new ways to be a part of God’s work!
Join our community. Join the community of other people who have committed to a percentile, or are seriously considering it.
Structure Your Accounts
One of the first things you’ll need to do is find a way to separate the money you are using for living expenses from the money you plan on giving away. There are a couple ways to do thing, and you can use whatever method works for you. Below are two options that you can consider.
Use Separate Accounts
The simplest option involves creating separate accounts. For this option, you’ll need two main checking accounts.
- Incoming Account: Have all your paychecks, direct deposits, and other income go into this account.
- Spending Account: Each month, move your spending budget from your Incoming account to your Spending account. Any money spend on you or your family should come out of this account.
Once enough funds have built up in your incoming account to cover the next month or two, you can begin giving away any more that builds up.
Just make sure to leave enough in your Incoming account to move over to your Spending account next month.
Use budgeting software
This option involves using a budgeting program or app to keep track of your spending each month. If you have never used one before, we like Mint.com.
By using an app to track your budget (or doing it yourself in Excel), you can keep track of your monthly operational costs. Once excess funds begin to build up in your bank account, you can start giving them away.
Note that this method requires a little more accounting work. You’ll need to have a system in place that makes sense so you know what belongs where.
If you are the kind of person who has trouble keeping track of things, separate bank accounts may work better for you.
Find Ways to Give
One of the best parts about getting started with percentile living is finding new ways to give.
Everything over our spending limit, we use to bless individuals, radically impact our communities, and complete the Great Commission.
As we set more and more money aside, our eyes are opened to the many ways God is calling us to act.
You can find tons of examples here.
Personal Relationships. We find ways to personally bless the people in our sphere of relationships, such as those experiencing difficulty or suffering.
Community. We find ways to tangibly address the needs of our neighborhoods, our towns, or our cities.
Great Commission. Christ’s final command was to make disciples of all the nations. We find ways to directly support Christ’s mission to spread the gospel to all the nations.
Find People To Talk To
Deciding to orient your financial life around percentile living requires a lot of conversation, reflection, questions, and answers. In our experience, all successful commitments happen in the context of relationship.
Join our growing community of people who have walked through the process or are curious about learning more. Feel free to reach out with questions you may have about the process or what life looks like on the other side.