Mosiah 4
“See that all these things are done in order . . .” This was spoken specifically in relation to material helping of the beggar. Even a rich man may say that I give not because I have not after he has given enough that he no longer has excess capacity. The wisdom and order is this:
- Tithing
- Sustenance
- Savings
- Philanthropy
- Luxury
Once there is something left over once tithing and sustenance are addressed you should start saving. You should start giving to those that ask even before your savings become substantial, but you should not give to the point that it cuts into your sustenance (though you may choose to cut into your savings at your discretion). Note that after you have established the philanthropy you may enjoy some luxury, but as your means increase once you have been able to indulge in luxury the bulk of that increase should be going to savings and philanthropy rather than luxury.