- Decide on a Title for Your Account
i.e. “Family Name Benevolence”
- Open a Free Checking Account with Your Custom Account Title
(Local Credit Union or Online Options)
- Order Debit Cards with Customized Name on the Card for “Benevolence” (one per person authorized to spend from the account)
- With the Bank, Configure Debit Cards & Checking Account Accordingly
(i.e. pull from a savings account if funds are too low for a spontaneous transaction.)
- Order Custom Checks for that Account
- Decide Monthly Deposit Amount
(Set Amount or % of Income. Aim to grow it.)
- Set up the way to automatically incorporate this as part of your monthly budget work & planning
(logistics – online transfers, automatic deposits, reminders, etc.)
- Decide your “Rules” for the account.
Our initial rules were simple:
100% of the money put into this account is God’s, and we can only use it on other people to bless them, not on ourselves.
Once the money is...