Hare Krishna

All glories to Srila Prabupada.

HpS - We asked KK to join this Blog and answer the following question. He is psychiatrist in USA, from India, and wife is also psychiatrist.

How much money needed to sustain family?

Before we approach this question we need to understand the concept of charity (Daan). Even before that we have to accept that we need money to sustain our family. For that we have to work one way or the other way. Money is important but how much we need for sustaining the family is a very interesting question.

There may not be any direct answer so let's first learn about Daan. 

How much charity needs to be done according to scriptures. 

Scriptures lay down a varying proportion of one's income (ranging from 10% to 50%) to give away in daan.

Skanda Puran - According to Skanda puran one should 10% of one's justly earned income on good deeds or works of pubilc benefit.

Bhagwat puran : He quotes learned people to recommend dividing one's fund into five equal parts.

1) One part should be used for Dharma e.g Supporting Sanayasis , helping temples (daan).

2) Second for Yash (public works like for hospitals, food).

3) Third should be re-invested for generating more wealth.

4) Fourth for material things

5) Fifth for one's family and friends.

 Charity should not result hardship to donors family or loss of livelihood  

Coming to the first question, how much money... Money we need to sustain family is the money where we can also do some charity for Krishna Consciousness. So people who have decent jobs should be doing more charity .

The amount may vary but the basic ground rule is the same. Earning money with intention to support Krishna Consciousness. But also not at the cost of time needed to do your chanting and other services. Hare Krishna.

ASA - Thank you. This is very nice discussion of principles and then individuals can start to apply in their own circumstances. Very specifically, someone like yourself: Husband, wife, two children... professional people, how much is needed per year to keep house, transport, food, health, recreation ?