The country of Hungary has the distinction of having had the world’s highest ever printed denomination banknotes, at a staggering quintillion Pengo (the local currency between 1927 and 1946). That is a one followed by 18 zeros. In fact, Hungary managed to win another record by introducing a 100-quintillion note in 1946. After the second world war, inflation doubled every 15 hours. How much was 100 quintillion Pengo worth? A grand total of twenty cents.
Over the past decade, the average inflation in Canada has been around 2.5%. US inflation has averaged 3.2%. When inflation occurs, purchasing power erodes. Thus, every year, your dollar will buy 2.5% less in Canada (or 3.2% less in the US).
As a non-profit organization, our church relies and depends on benevolent donations. As we plan our systematic giving, let us increase our donations to account for the yearly purchasing power loss caused by inflation.
Exodus 36:3, “They received from Moses all the offerings the Israelites had brought to carry out the work of constructing the sanctuary. And the people continued to bring freewill offerings morning after morning.”
Today as we return our tithe and freewill offering, we are invited to commit and contribute to the Carolina Youth.