1.Choose voluntary simplicity: Deliberately live on as little as necessary so you can spend your surplus time and resources on altruistic pursuits rather than on making money.
“Frugality is good if liberality be joined with it. The first is leaving off superfluous expenses, the last bestowing them to the benefit of others that need.” –William Penn (1644-1718)
Biblical Example: John the Baptist (Matthew 3:4; 11:8, 18)
Advantages:
*Financial discipline and independence
*Time to work exclusively for good causes
Problems:
*Simplicity without creativity easily becomes penury.
*You may be unable to help others monetarily.
2.Earn all you can, then practice “radical philanthropy” by giving away 50-90 percent of your income.
“Work as hard as you can to make all the money you can, and spend as little as you can in order to give away all you can.” –John Wesley (1703-1791)
Biblical Example: Zacchaeus (Luke 19:8)
Advantages:
*Satisfaction of living an altruistic life
*Sense of being able to make a real difference in many human lives
Problems:
*You find that all your time is spent in the process of making money.
*You are sorely tempted to keep more and more for yourself and your family.
3.Practice moderation: Deliberately choose a lifework that will provide you with a decent but not extravagant living.
“I am indeed rich, since my income is superior to my expense, and my expense is equal to my wishes.” –Edward Gibbon (1737-1794)
Biblical Example: Agur (Proverbs 30:8-9)
Advantages:
*Time for church, family, and other people
*A sense of balance in one's life
Problems:
*Moderation may lead to mediocrity and regret.
*Modest means do not allow for grand dreams. You will never be able to do as much good as you would have liked.