A Different Kind of Money Plan


Liz Waid and Ryan Geertsma look at a difficult subject: money! They look at a different way to deal with money problems.

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Transcript


Voice 1

Welcome to Spotlight. I'm Liz Waid.

Voice 2

And I'm Ryan Geertsma. Spotlight uses a special English method of broadcasting. It is easier for people to understand, no matter where in the world they live.

Voice 1

On today's Spotlight we will talk about MONEY - something many people do not like to talk about. We will discuss two different money plans - one bad and one good.

I NEED it!
I WANT it!
I HAVE to have it!

Voice 2

Have you ever said these words? Then advertising has fooled you! Companies spend millions of dollars each year on television and radio advertising. They try to persuade you that you NEED what they have to sell.

Voice 1

Many people fall into the trap of spending. They spend money on clothes, cars, new homes, products for the home, games, films, travelling - the list goes on and on. But, many people spend more money than they have. They are in debt. For some people, debt even takes over their lives. It is like they become slaves to debt. All of their time, energy, and money must go towards paying their debt. And they feel as if they have no way to escape it.

Voice 2

Christians believe that God does not want people to be slaves to debt. The Bible includes many ideas about money. One of these ideas is that people should experience freedom from debt – financial freedom.

Voice 1

But how can you get financial freedom? Many people, both rich and poor, struggle with how to spend and save money. They do not count their money as they spend it. Then, at the end of a week or month they have no money left to save. They may not even have enough money to pay for important things like food and rent. This is following a bad money plan. This money plan goes like this:

Voice 2

First, spend – spend your money on anything you want to buy. Second, save if you have any money left. And third, give if there is any money left after saving.

Voice 1

Following this bad money plan does not lead to financial freedom. Instead, it will lead you down a path toward debt. And you will go deeper and deeper into debt. It is not really a money PLAN at all! But, there is another way. And it is easy to remember. Just say, "10 10 80!"

Voice 2

Christian money experts created the 10-10-80 plan using values from the Bible. The 10-10-80 money plan goes like this: First GIVE 10 percent of all your money. Second, SAVE 10 percent of all your money. And finally, SPEND the last 80 percent wisely.

Voice 1

You may be surprised that the first step in this plan is to give! How can giving your money away lead to financial freedom? Many people know that giving can bring great joy.

Voice 2

Christians believe that money is a gift from God. They believe that God owns everything - not just our money - but everything. God wants people to experience joy. And he knows that giving can be a source of great joy. When we do not give, we cannot experience this kind of joy - the kind that comes from helping others.

Voice 1

Here is the story of a woman named Maiya. Maiya was on a fixed money plan. She did not have a lot of extra money at the end of a week after buying food and paying rent. But, she heard about the joy of giving. She believed that ten percent of her money should go back to God. So, Maiya was committed to giving even though she could use that money for other needs.

Voice 2

Since Maiya started giving, she has experienced great joy. When she gives money away she worries less about her own finances. She sees how God takes care of the poor through people like her who give. And she knows that God will take care of her too. Since beginning to give, Maiya finds that when she really needs money, the money is there. Somehow God always provides for her. And others help her, when she needs help.

Voice 1

This brings us to the second step in the 10-10-80 plan. After giving ten percent, the next step is SAVING ten percent. Saving helps you to prepare for the future. There may be an emergency. Or you may want to do something fun, like a vacation. Then your savings can help you.

Voice 2

Saving is a discipline. It takes hard work and you must be devoted to it. Saving only happens when you promise not to spend that ten percent. The first thing you should do when you receive money is to split it up. Take out ten percent for giving and ten percent for saving. Put that money where you will not touch it. Put it in a place where you will not be tempted to spend it. That may mean hiding it in a container in your home. It may mean giving it to a friend who will promise to hold it for you. Or, it may mean putting it in a bank. Putting your money in a bank is probably the safest idea. But whatever you do, do not spend that money!

Voice 1

Many people may think, "But, I do not have enough money to save ten percent - especially after I give ten percent." But it is possible. Even if you can only save a small amount, that amount will soon start to add up. But try to save something, even if it is not ten percent.

Voice 2

The final step in the 10-10-80 money plan is to spend wisely! You can use the last 80 percent on anything you want. You will probably need to pay for your home and buy your food first. But, if there is any left, you can buy what you want!

Voice 1

The idea is that you will only spend what you have and no more. You have already used some of your money to give back to God. And part of your money is saved for the future. So, what is left is the amount you have to spend. When that money is gone, then you should stop spending. You do not want to be a slave to debt!

Voice 2

Many people think this plan sounds impossible. But you can start simply. Start by setting apart only two percent, or five percent each for giving and saving. After a time, increase the amounts of money you are putting in these areas. Soon, you may discover that it is not a difficult plan at all. Many people who follow this plan even begin to devote MORE than ten percent each to giving and saving.

Voice 1

Keep listening to Spotlight to hear more about a spending plan - a budget. A budget can help you count your money as you spend it.

Voice 2

The writer of this program was Rebekah Schipper. The producer was Liz Waid. The voices you heard were from the United States. You can find this and other Spotlight programs on our website at http://www.radioenglish.net. This program is called, "A Different Kind of Money Plan."

Voice 1

We hope you can join us again for the next Spotlight program. Goodbye.

Question:

Do you have a money plan? How do you save and give money?

Comments


Avatar Spotlight
witchdalat
said on March 10, 2011

Money is important in our lives. However, using money reasonably and coutably is more important.
I am used to learn how to make money plan for a business but i can’t make my money plan because having a lot of things appear without forecasting.
I think the formula 10-10-80 is simple, easy to remeber and easy to do. I will try it!
3 next months, i will inform the result.HIHI.

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GelezniyDen
said on March 13, 2011

Hello everybody from Russia and good evening! I never spend money just i try spend my money only on impotent things and i always count them and i think me do not needed use that scheme because that scheme need for people who don’t control yourself.

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Manh Tu
said on March 22, 2011

I’m a student, so it’s very important for me to manage my money. Thank you very much, Spotlight. I will try “10 - 10 - 80”.

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Simon Tran
said on April 18, 2012

hi witchdalat.. after when you have result by following this topic. Pls tell us the result in advandge. :)

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ruben tovar
said on April 19, 2012

This is an excellent plan. I have many problems with money. Please continue to writing about this problems.

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ptquan
said on May 20, 2013

This is a good idea ! This is the first one, I hear about a money plan like this. I always use my money until it is over. If there are some money still exist, I will save it. Almost I can not save my money for future or some kind of plans. After I heard about this program, I changed something and made the plan following myself.  Step one : Saving thirty percents. Step two:I will use seventy percents. Note: I will give less than two to three percents when it really need. :D
Thank you spotlight for sharing an excellent idea for me “10-10-80” ! I change it for myself 30-70 money plan. :))

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appletree
said on May 20, 2013

Hello Spotlight,
thanks for your contribution about money.
I started to obey the rule to give 10 percent of my money as a young student 35 years ago.
My basis for this is in the Bible, book of Malachi 3:
“Bring the whole tithe into the storehouse, that there may be food in my house. Test me in this,” says the Lord Almighty, “and see if I will not throw open the floodgates of heaven and pour out so much blessing that there will not be room enough to store it. I will prevent pests from devouring your crops, and the vines in your fields will not drop their fruit before it is ripe,” says the Lord Almighty.”

I never violated this rule and had never any financial problems. I see this as a blessing from God.

In the practical way, I did not decide to give or not to give every month. I gave an order to my bank to take away 10%  (or more) automatically. Only when my income increased, I changed my order.

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kenhieuloilam
said on May 23, 2013

We work to get money. We use our money for things necessary to our lives. We use our money to do good things. The modern life brings us facilities. We also recognize things passing quickly in the life. We do good things to get joys. We build for true values. We wish good things. We build for good things.

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nature187_vn
said on May 24, 2013

Sometime,in the life money is not everything!

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Dela
said on May 24, 2013

Counting our money and spending it only on the important things is necessary, especially if we don’t want to incur debts, to become slaves to debt. The money plan 10-10-80 is good but it surely can be too difficult even impossible for many people to begin to do like this.
Very interesting and popular topic!
Thanks for an article!

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Haes
said on May 25, 2013

it’s really a good idea.

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thanhdung07121985@gmail.com
said on January 16, 2015

This topic is great.It is useful advice for all of us to avoid falling in debt.Please imagine how your life will be if   you always worry about debt.All of us always wish enjoying a wealthy,happy and comfortable life.But not all wishes become true.Money is the thing people care best.If we still spend too much money for enjoying entertainment,shopping unwisely,we may be in debt sometimes.We’ll bother family relatives.And our life is not happy anymore.Even we will be guilty of stealling to have money without work.Social evil gain more and more.Please consider and control spending your money properly!

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Dela
said on July 21, 2015

The money plan described in this article is really worth following but it may be unrealizable for many people. At all events, we should take a strong decision to spend our money wisely not running into debts just as helping others should represent the obvious, considerable mission in our life as well. Primarily, our giving will result in amazing feeling of joy and satisfaction too!