Ten Numbers You Need to Know to Succeed With Money

I'm passionate about money-management.  I see so many people struggling financially, and I know that they don't need to struggle.  If you have just a little knowledge and the self-discipline to put it to use, you can succeed with money.  In this post I'm going to give you ten numbers you need to know to succeed with money.  Some of these numbers come from the Bible; some of them come from financial experts like Dave Ramsey.  If you will apply these numbers to your situation, your whole life can change.  If you need clarification on any of this information, leave a question in the comments and I will be happy to help.  

100 -- The percentage of your money that belongs to God (Dt 10:14).  As a Christian, you don't own anything.  God owns it all, and you are His money manager.  

10 -- The percentage of your gross income that you must give to God every time you get paid.  This is called tithing.  It is a command, God promises to bless you if you do it, and it will help you to grow spiritually (Mal 3:10-12; Dt 14:23).  

10,000 -- The percentage you get back when you give to God's kingdom causes like the church and missions (Mt 19:29; Lk 6:38).  You can't out-give God.  

60 -- The number of minutes it takes to create a budget.  Then it will only take you about 10 minutes a week to keep it up to date.  Planning is biblical (Pr 21:5).  A budget is simply a money-plan.  It is telling your money where to go instead of wondering where it went.  It is decided in advance how you are going to spend your money to make sure you are working toward your financial goals.  You would never run a company without a budget, so why are your trying to manage your personal finances without a budget?

0 -- The amount of debt you should have.  The Bible warns against debt (Pr 22:7).  Never use debt to pay for anything other than your home, and then only under certain conditions (see below).  Always save up and use cash.  

3 -- The number of months worth of living expenses you need to have set aside in an emergency savings account.  This is only for emergencies -- not vacation, or Christmas presents, or new furniture.  Note:  Your monthly living expenses should not be as high as your monthly income; it should only be enough to help you get by when things go south, and they will.  78% of Americans will have a $10,000 emergency every decade.  Prepare for it.

25 -- The max percentage of your take-home pay that you should be spending on your mortgage or rent.  If your take home pay after taxes is $4,000, then your mortgage/rent should be no more than $1,000.  Any more than this and you will be "house-poor" -- you'll have a nice house, but you won't be able to afford anything else.  When it comes to buying a house, follow Dave Ramsey's advice:  (1) Pay off all other debt first.  (2) Put down at least 20% to avoid PMI.  (3) The mortgage should be no more than 25% of your take-home pay.  (4) Get a 15-year, fixed-rate mortgage.  

15 -- The percentage of your before-tax gross income that you should be investing in retirement.  Start by maxing out your Roth IRAs (one for you and one for your spouse), and then take advantage of your company's 401 (k).  Here's another exciting number for you.  At a 10% return, your retirement account will double every seven years, even if you are putting nothing in.  That's the power of compound interest.  

2 -- The number of people in your marriage who need to agree on every financial decision.  In a biblical marriage your independence goes out the window.  You stop operating as two individuals and start working together as a single unit.  As soon as you get married you should combine your finances and agree on financial goals and decisions.  Research shows that couples who combine their finances have better marriages and are less likely to break up.

60 -- Around sixty percent of NBA players and seventy-eight percent of NFL players face severe financial hardship after only a few years of retirement.  Thirty percent of  lottery winners file for bankruptcy, as compared to ten percent of the general population.  Why do I share these numbers?  The solution to your money problems is usually not more money (especially if you are making close to the median household income, which was was $83,730 in 2024).  The foundation for financial success is knowledge and self-discipline.  Dave Ramsey likes to say that financial success is twenty percent knowledge and eighty percent behavior.