Does Religion Affect Finances?

[Ramose]

I have seen some people mention God a few times around the forums so I assume there are quite a few religious people here. I was just wondering if sometimes religion affects the financial decisions of some people.

Some examples I thought of are:
Somebody who continues to bury themselves in debt because they believe their god will get them out of it.

Alternatively, somebody who is not religious may also pile on the debt because they will die one day and get out of it, they would argue that there is no afterlife to be judged.

Any thoughts?

[moneybags]

Alternatively, somebody who is not religious may also pile on the debt because they will die one day and get out of it, they would argue that there is no afterlife to be judged.

Any thoughts?

I'm an atheist, and I don't have any debt. I have no concern about afterlife judgement, but I still have high morals, and I am financially responsible for my family and myself. It's not like people without religion don't do the right things in life.

I see religion crossing into financial decisions when it comes to tithing. It's been discussed on the board before, i.e. do you keep giving when you can barely pay your bills, etc. I know people that are committed to giving 10% no matter what, but it hasn't put them in debt.

[BuckyBadger]

For those people who choose to tithe, religion most certainly does affect finances.

[disneysteve]

I think religion definitely plays into finances.

The biggest example, as mentioned, is tithing. We've seen numerous threads here of people who were really struggling and living beyond their means but refused to stop tithing even if it drove them into bankruptcy. Actually, I've often wondered how the courts view tithing when someone files for bankruptcy. What happens when someone claims they can't pay their bills but then shows that they are paying 10% of their income to their church?

Apart from tithing, which we don't do, we still spend a decent amount on our religious affiliation. Annual dues for our synagogue are just over $2,000 plus we make various other donations throughout the year, attend ticketed events, pay for our daughter to participate in youth group events and attend retreats and conventions, etc. If we weren't active in our temple, we would spend several thousand dollars a year less than we do now.

[bjl584]

Yes. Tithing is the big one. But for those that read the Bible there are lessons to be learned about staying out of debt (being a slave to the lender and so forth.)

So, I definitely think that one's religious beliefs can play into how they manage their finances.

I know several people that are religious and are broke. I know people that are religious and have money. So, I'm not sure that a direct cause and effect relationship can be established, but I do think that some people have taken religious teachings and wisdoms and applied them to their everyday financial lifestyle.

[disneysteve]

Another place where religion affects finances is in celebrating holidays. Look how much people spend on Christmas each year. In 2011, Americans spent $52.4 BILLION just on Thanksgiving weekend alone. $3.4 BILLION was spent just on trees, real and artificial. Add in Easter, Valentine's Day and other religious holidays and the spending really adds up.

[MonkeyMama]

Growing up I would have said yes, because I saw a lot of religious/uneducated/broke people. & educated/nonreligious/wealthy people. So is just the stereotype I formed based on what I witnessed.

As an adult, I don't think it is so black and white. You would be amazed at the insane amount of giving that religious people do (I have had several clients donate something like 50% of their money though they couldn't afford to pay their basic bills - rent, groceries, etc.). At the end of the day it comes down to money sense. More educated people who are not feeling that extra pressure/guilt from their church are probably not going to give to the point of bankruptcy and poverty. The less educated seem to fall for that more, BUT also are not making bigger wages and don't have the financial education. I suppose there is no doubt that churches put financial pressure on their congregations, all of that said. (I have never seen anyone give that kind of money to non-profits aside from churches - it's definitely a church/pressure thing - and I am talking well above traditional 10% tithing).

As an atheist, the idea of getting into debt because there are no consequences, is just silly. Atheists tend to focus on the here and the now. There are plenty of negative consequences in the here and now when it comes to debt. On the flip side, I know plenty of atheists who are in debt up to their eyeballs. Why? Because they have no financial education. Plain and simple.

[MonkeyMama]

Another place where religion affects finances is in celebrating holidays. Look how much people spend on Christmas each year. In 2011, Americans spent $52.4 BILLION just on Thanksgiving weekend alone. $3.4 BILLION was spent just on trees, real and artificial. Add in Easter, Valentine's Day and other religious holidays and the spending really adds up.

This is a funny one to me because the big money spending really has nothing to do with the religion. I have always found it ironic because I married into a very Catholic family, and people expect more clashing between us at the holidays. IT's like seriously? If anything, I am more annoyed at how materially these holidays are celebrated. (There is no religious clashing because none of our relatives celebrate any religious holidays in a religious manner. I grew up in a predominately non-Christian region, and we always celebrated all these holidays as "American" holidays).

[bjl584]

Another place where religion affects finances is in celebrating holidays. Look how much people spend on Christmas each year. In 2011, Americans spent $52.4 BILLION just on Thanksgiving weekend alone. $3.4 BILLION was spent just on trees, real and artificial. Add in Easter, Valentine's Day and other religious holidays and the spending really adds up.

True,
But many once religious holidays are now so commercialized that many non-religious people still get caught up in the holiday shopping season. I'm sure that just as many atheists are standing in lines on black friday as Christians.

[phantom]

My religious beliefs are an underlying guiding factor in all of my decisions, and many decisions in life have a financial aspect. So, I would think it strange if religion and finance didn't impact each other often in my life. But, I think it might be more accurate to say that my sense of morality impacts my financial decisions. My morality is mostly based on my religious beliefs, so I tend to think of the force of my religious beliefs and the force of my moral compass interchangeably. But, there are certainly atheists like moneybags out there who have a strong sense of morality guiding their decisions without any religious beliefs guiding that morality.

My husband and I tithe. It's our second biggest budget item after our mortgage, so it definitely has an impact on our finances. But, I like to think we would give generously to charity even without a religious suggestion to do so. I can't say we'd have come up with the idea of setting the minimum at 10% of our income on our own though.

You could also say that it's religion that stops me from lying, cheating, and stealing to get more money. But, there are certainly non-religious people who don't need religion to tell them that those are things they shouldn't do.

[Joan.of.the.Arch]

There is such a thing as a "Muslim mortgage" which is not to involve interest. Likewise, Muslim investments are not supposed to earn interest, but only simple profit. I know a Muslim family who will probably always rent because of this belief, and another who saved to pay cash entirely. It appears to me that it took them more than ten years to save for the house while also paying rent.

[disneysteve]

This is a funny one to me because the big money spending really has nothing to do with the religion.

None of my Jewish friends and relatives are out spending thousands decorating their homes for Christmas.

[disneysteve]

Thought of another one - education.

We send our daughter to religious school. She started in kindergarten and is still going now in 11th grade. That costs hundreds per year. Also, in the Jewish religion, kids celebrate a Bar or Bat Mitzvah at age 13, usually followed by a nice reception. That can cost many thousands of dollars.

[Petunia 100]

I have seen some people mention God a few times around the forums so I assume there are quite a few religious people here. I was just wondering if sometimes religion affects the financial decisions of some people.

Some examples I thought of are:
Somebody who continues to bury themselves in debt because they believe their god will get them out of it.

Alternatively, somebody who is not religious may also pile on the debt because they will die one day and get out of it, they would argue that there is no afterlife to be judged.

Any thoughts?

I grew up in a fundamental Christian church. In my adulthood, I embraced my skepticism and now consider myself agnostic. I can't think of a single person I have encountered who voiced either of these points of view. I don't think either of these points of view are mainstream.

I think people in our culture are in debt because they have bought the advertising which is fed to them. To be happy, or accepted, or cool, I must buy a new X. If I must rely on Visa, that's OK, everyone else is too. Pausing to consider whether or not being in debt is a good idea is dull and boring, definately not fun or cool.

[Like2Plan]

This is a funny one to me because the big money spending really has nothing to do with the religion. I have always found it ironic because I married into a very Catholic family, and people expect more clashing between us at the holidays. IT's like seriously? If anything, I am more annoyed at how materially these holidays are celebrated. (There is no religious clashing because none of our relatives celebrate any religious holidays in a religious manner. I grew up in a predominately non-Christian region, and we always celebrated all these holidays as "American" holidays).

I tend to agree with this. I think my friends and family who are what I consider Christian fundamentalists tend to minimalize the commercial aspect of the Christian holidays and would just as soon celebrate the holiday as a day at church.

33Another place where religion affects finances is in celebrating holidays. Look how much people spend on Christmas each year. In 2011, Americans spent $52.4 BILLION just on Thanksgiving weekend alone. $3.4 BILLION was spent just on trees, real and artificial. Add in Easter, Valentine's Day and other religious holidays and the spending really adds up.

I think Halloween, Thanksgiving, Valentine's Day have become secular holidays. Thanksgiving was the one holiday that everyone wanted off at work--no matter what their religious affiliation.

This reminds me of an article I read in USAToday:
As Protestants decline, those with no religion gain

The emerging social, political force: 'Nones'