I definitely agree that both are needed, it just seems that all of us in the west tend to emphasize on financial giving and ignore the giving of our time.
Having spent quite a bit of time in Eastern Africa, I would say there is a greater need for us to give 1% of our time than 1% of our money. We were working with HIV clinics and educational programs that have decent funding, the real challenge was finding honest, capable people to take that money and put it to good use.