- Faith & Family
Traditional wisdom says that hope, understanding, salvation, peace and even joy can often be found by studying the Bible. The scripture has been recommend as the pathway to an antidote for seemingly crushing life situations and burdens. However, the Good Book is called upon much less often when it comes to financial matters.
And that’s unfortunate since by some estimates there are over 2,300 references to money management in the Bible, according to Chris Daunhauer, a Jacksonville certified financial planner. Daunhauer is also a member of the Kingdom Advisors, an organization which trains financial professionals to consolidate Biblical wisdom and principles with their money management advice.
“People primarily think that most of what the Bible says is about giving to our church or charities,” he explained. But, “there are passages about working, saving, lending and co-signing.”
Elizabeth Brickman, a Miami Lakes-based financial advisor who has taken the Kingdom Advisors course, believes that the connection to Scripture and finances is fundamental to living.
“Every financial decision is a spiritual decision, whether we know it or acknowledge it or not,” she said. “If you show me someone’s check book, I will know a lot about their knowledge of spiritual laws.”
In spite of the numerous scriptural references to money matters, Daunhauer says that there are five basic, Biblical principles regarding money management: 1) Spend less than you earn; 2) Minimize the amount of debt you have; 3) Have an emergency cash fund; and 5) Use a long-term perspective to plan ahead for your financial decisions.
For the final principle, Daunhauer draws inspiration from First Chronicles 29: 11-12.
“Number five is probably the best one and the scripture is pretty clear that God owns it all,” he said. “We’re not owners, we’re just managers [of the money] while we’re here for this time on Earth.”
Brickman agrees that individuals should understand that they merely manage money in their possession and do not actually own it.
“The good news is that God wants us to prosper,” she explained. “The Bible does not endorse [or condemn] any one particular lifestyle or tell us that we must live in a certain priced home or a certain priced car.”
To simplify the principles even further, Daunhauer recites a quote from Money and Marriage God’s Way: “Debt it bad, saving is good, giving is fun and stuff is meaningless.”
“So, at the end of your life, you will be much more happy with what you gave away then with what you kept,” he said.
Visit www.mymoneyquestions.com or www.kingdomadvisors.org for more information on money matters and the Bible.
By Kaila Heard