The secular world might put money front and center, but that doesn’t mean you have to do the same in your personal life. In fact, the Christian teaching tells us to treat money as an offering or tool, and not an idol. Does this mean you shouldn’t strive for wealth? No. It means you should use what you have to be a steward of God’s light.
This is the guiding principle of managing your finances in accordance with your faith. The Bible includes many verses that can help guide you in money management, and finding a financial advisor who shares your convictions can ensure you’re practicing your faith with every financial decision.
Why Is It Important to Manage Your Finances God’s Way?
As you live your faith, you want to do all things pleasing to the Lord. This includes managing your finances. The Bible offers clear instructions on how you should earn and manage money.
- Working. Scripture tells us to do honest work and earn our living because nothing will be handed to us. Colossians 3:23-24 reminds us to keep the Lord even in our daily work: “Whatever you do, work heartily, as for the Lord and not for men, knowing that from the Lord you will receive the inheritance as your reward.”
- Saving and investing. We’re told not to squander our wealth on worldly comforts, but to use it to support our families. Saving and investing our money wisely can help to take care of your family both now and in the future. This is taught in 1 Timothy 5:8: “But if anyone does not provide for his relatives, and especially for members of his household, he has denied the faith and is worse than an unbeliever.”
- In your heart. How you view money in your heart is perhaps the most important of Biblical teachings on finance. Matthew 6:21 says, “For where your treasure is, there your heart will be also.” We must remember to always keep God as our treasure and not allow money to become an idol. Just as Matthew mentioned in his Gospel (6:24), a man cannot serve two masters.
It’s important to remember that scripture doesn’t demonize wealth. It is not unholy to be wealthy, but what you do with that wealth is what sets you apart. God calls those with much to give much. So don’t forget to share your wealth with those in need and put your power to good use in the Lord’s name.
Managing your finances God’s way is one more way to allow his teachings to guide your life. It helps you to align your faith with the most challenging area in your life. Most importantly, God takes care of His children, and managing your money according to his instruction helps you provide for yourself and your family.
3 Tips for Managing Your Finances God’s Way
Acknowledge the Connection
The first step to managing money God’s way is to acknowledge the connection between faith and finances. Many people don’t realize their approach to spending, saving, and investing is a reflection of their faith. Or perhaps they are used to thinking of their faith and finances separately. Acknowledge that God can help you prepare, plan, and make sound financial decisions. Open yourself to the benefits of Biblical instruction.
Learn Biblical Principles
To allow the Bible to guide you, you first need to know the financial principles it teaches. We discussed a few at the beginning of this blog, but we like to break it down a little more for our clients. We use a unique three-step process to help clients plan based on these principles: plan well, invest well, and finish well.
In each section, the letters of our company name stand for a different Biblical principle. We look at things like charity, liquidity, and responsibility, as well as managing risk, owning your values, and passing down wisdom before wealth. The goal is to allow these principles to guide your financial decisions so you continue moving closer to God as you plan for financial success.
Find a Partner
God doesn’t want you to do things alone. That’s why partnering with a financial advisor is often a wise choice. They can help you manage your savings, make smart investments, and maintain a healthy investment portfolio. The key is to find an advisor who shares your convictions and runs their business faithfully. They’ll keep Biblical principles front of mind and make sure you’re approaching finances God’s way.
Choosing a Financial Advisor
Finding financial professionals who share your faith might be easier said than done. At the end of the day, good advisors will take the time to understand your convictions and concerns and work to address them whether they share your faith or not.
But what makes a good advisor? The answer is different for everyone. The first consideration is whether you’re a delegator or do-it-yourself-er when it comes to your finances. Your financial advisor should fill whatever role you have to give, whether that’s managing everything or just providing advice.
There are a few other questions you can ask yourself to determine what you need from a financial advisor:
- Which services do you need?
- What type of relationship will fit the flow of your life? (Monthly calls, quarterly check-ins, or annual meetings?)
- How much are you looking to learn from your advisor?
The answers to these questions can help you determine your needs and expectations of a financial partner. They’ll make it much easier to determine if someone will be a good fit in your life.
The most important thing to look for in a financial advisor, however, is communication. You want to find someone you’re comfortable talking to about your hopes and fears as well as your faith. They should, in turn, be able to effectively explain their ideas, plans, and actions in a way you understand. There should never be confusion about your finances, so be sure to choose someone who understands you and is willing to teach you.
Put God First
At Clear Money Path, we put God first in everything we do. We encourage our clients to bring their faith into finances, and we teach them Biblical principles that help guide their decisions. If you’d like to learn more about how we can help you manage your finances God’s way, schedule a free consultation. We’d be happy to help!
Information presented does not involve the rendering of personalized investment advice, but is limited to the dissemination of general information on products and services. This information should not be construed as an offer to buy or sell, or a solicitation of any offer to buy or sell the securities mentioned herein.
Information presented is believed to be factual and up-to-date and was obtained from sources known to be reliable. It should not be regarded as a complete analysis of the subjects discussed.
All expressions of opinion reflect the judgment of the author as of the date of presentation and are subject to change.Clear Money Path is registered as an investment adviser with the state of Missouri. The firm only transacts business in states where it is properly registered, or is excluded or exempted from registration requirements.