What I Spend Vs. Save On Since Leaving The Mormon Church

In this episode, one woman shows us how she does money differently since leaving the Mormon church and paying tithing all her life. Click here to see how one woman changed her financial life after going through a divorce:

Making it work is brought to you by curiosity stream subscribe today at curiosity stream comm slash the financial diet i was born and raised in the church of jesus christ of latter-day saints more commonly known as the mormon church it’s a religious group with some pretty strict lifestyle guidelines such as wearing modest clothing abstaining from sex before marriage

And not drinking coffee or alcohol like all religions the people who believe in it fall in a spectrum of just how intensely they follow those guidelines in my opinion the most significant part of being a faithful member of the mormon church is paying 10% of your gross income to the church as tithing yep i said gross not net so if you make $50,000 a year before taxes

You’re expected to pay five thousand dollars to the church if you have the means to do so you’re also encouraged to donate additional money for various church programs the importance of paying a full tithe is talked to members starting in childhood i remember counting out nickels and dimes and quarters for my birthday money when i was a kid so i could stuff them

Into a tithing envelope and give it to my bishop for many members of the mormon church tithing is a fixed expense in their budget just like a mortgage or minimum debt payments what would your finances and life look like if you felt religiously obligated to donate 10% of your gross income what kind of radical changes would you have to make so that could happen it’s

Now been five years since i left the mormon church during my last year as a member the only item in my budget bigger than tithing was my rent the one plus side to paying tithing all my life was being used to living below my means i was already going without that 10% so when i had it back i had complete freedom to decide where i wanted it to go the smartest thing i

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Did was keeping my day-to-day life pretty much the same that allowed me to redirect most of that 10% towards goals i’d only dreamed about before that translated into pouring a lot of money into savings since leaving the church i’ve saved over ten thousand seven hundred dollars for travel with that money and the strategic application of credit card rewards points

Splitting lodging costs and crashing on friends or family members couches i’ve been able to take eight trips to visit friends domestic flights seven trips to see family a mix of flights and road and three trips abroad international flights i’m planning to be out of the country twice next year for vacation and i already have most of the money saved for those two

Trips on top of saving all that money for travel i buckled down on goals i thought would be out of reach for years i had wanted my own place for a long time but the numbers never seem to work in my favor when i was paying tithing but once i put that tithing money toward personal financial goals instead of a church it only took me two and a half years to save the

Eleven thousand five hundred dollars i needed for a first-time homebuyers program that money covered my down payment and associated fees for a house i would have needed another two to three years to save that same amount of money if i were still paying tithing now i have a place that i can call mine and i love it so much more than i did renting but i’d be lying

If i said that my ten percent gross increase and available spending when entirely to savings i’ve ended up with some new expenses i never had before but they’re still rather small in comparison to that 10 percent i was giving away to the mormon church these days i spend about 70 dollars every year or so on a nice strapless bra i hadn’t owned one before because i

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Had never needed one the guidelines for modest clothing meant that my shirts either had sleeves or i always wore a shrug cardigann or blazer over anything that didn’t since i can now wear whatever i want i ended up needing a strapless bra i’ve also acquired a taste for coffee since i left the mormon church but i don’t have it every day when i do have it i generally

Make it at home that puts my coffee and creamer spending at about a hundred and fifty dollars a year out of pocket perhaps the most expensive those still small change is that i now drink alcohol occasionally i sometimes order a drink when i’m eating out but most of my drinking is done at home where it’s far less expensive i’m on track to spend about two hundred and

Forty dollars on alcohol altogether this year with that 10% back in my discretionary budget i decided to start donating to an organization besides my church i jumped between a couple different charities over the years but i’ve since picked planned parenthood as my regular donation i give them twenty five dollars a month or three hundred dollars every year which

Is a far more reasonable amount to donate to charity than the thousands i was giving away to my church next year i expect 10% of my gross income to be about six thousand dollars i’ve already got a spending plan for it once you take out my new expenses krauze coffee alcohol planned parenthood i have about five thousand two hundred and forty dollars left over for

Other things i plan to use three thousand four hundred and ninety five dollars of that to top off my emergency fund i’m in the process of beefing it up because i have to factor in a larger mortgage payment instead of my smaller rent payment i will also budget $1,200 for a new computer the last five hundred and forty five dollars and anything left over from my

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Computer budget will be going to my travel account to ensure i have everything i need for my trips next year overall i’d say that leaving the mormon church had a positive impact on my financial life i’ve been able to put the 10% i was paying and tithing toward major financial goals and a few small lifestyle changes it has changed the financial trajectory of my life

And i am in a more secure and much happier place because of it growing out means learning to embrace what actually interests you and if you have no shame in your nerd game you should check out curiosity stream curiosity stream is the world’s first subscription streaming service geared towards our lifelong quest to learn explore and understand created by the founder

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What I Spend Vs. Save On Since Leaving The Mormon Church By The Financial Diet

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