Every day, I speak to someone about how they want to plan for their future. Whether they want to buy a new home or start their estate planning, there are seemingly endless decisions to be made. How do you make those difficult calls?
In these scenarios, my family turns towards our faith and our values. One informs the other, and when you use them as a lens through which you make all of your decisions, those choices become easier.
As someone who has read the Bible many times, I can tell you that it mentions wealth quite frequently. Knowing that, we turn to some of the lessons of the Bible and use them, combined with our values, to make the proper financial decisions. Here are a few examples.
Give Generously
There comes a point when you have enough money. Your definition of what constitutes that may be different than mine, but if you can live comfortably and have the ability to pass on a portion of your wealth to your children, then anything above and beyond is extra.
Many of the people I advise find that when they dedicate themselves to a cause, they feel deep satisfaction. It provides them with a certain freedom, as they’re giving whatever they can, be it time, money, or their particular skillset. As a result, they don’t feel the need to spend their idle time searching for more stuff. Instead, the cause is enough.
This is also referenced in the Bible:
The point is this: whoever sows sparingly will also reap sparingly, and whoever sows bountifully will also reap bountifully. Each one must give as he has decided in his heart, not reluctantly or under compulsion, for God loves a cheerful giver.
2 Corinthians 9:6-7
You, too, may find this kind of satisfaction, and all it takes is a little bit of giving.
Plan for the Unexpected
While we all have our good days and bad days, surprises will arise, and it’s best to be prepared. Having all of your money in certain locations may make sense financially, but if you suddenly need more liquidity, you’ll wish you had some options.
The Bible talks about this in Proverbs 6:6-8.
You lazy fool, look at an ant. Watch it closely; let it teach you a thing or two. Nobody has to tell it what to do. All summer it stores up food; at harvest it stockpiles provisions.
We cannot plan for every eventuality, but having choices is better than having none. Like the ant, we should prepare for what may come so we can act when needed.
Your Wealth is not Guaranteed
While you may live a comfortable life today, one drive down to the other side of town may show you how the other half lives. There was no scenario where you were born and “deserved” your good fortune. You have your wealth, yes. But other people were not as fortunate or given as many opportunities.
Command those who are rich in this present world not to be arrogant nor to put their hope in wealth, which is so uncertain, but to put their hope in God, who richly provides us with everything for our enjoyment. Command them to do good, to be rich in good deeds, and to be generous and willing to share. In this way, they will lay up treasure for themselves as a firm foundation for the coming age, so that they may take hold of the life that is truly life.
1 Timothy 6:17–19
You can have money and be right with God, but you can also have that wealth stripped away when you least expect it. Understand that what you have is a blessing, and do not take it for granted.
Build Your Own Values
My family, like yours, has goals for what we can do with our wealth. We use our values to determine whether or not those goals are valid, and then act on them using our biblical principles as a guide. It’s a straightforward process.
You can do the same thing. Read your Bible, do some research, and find the lessons that apply to you and your family. Then enact them. Build your family’s values and use them like I did to evaluate your priorities. In the end, you’ll have answers to those complex questions and know your results match what your family finds important.