by Henry Netherland, founder of Faithful Financial LLC. 

Everyone should agree that it is important to have a plan. We plan vacations, weddings, career paths, and anything that we really care about. So having a financial plan is a good idea, right? Let’s take a biblical look at planning, with a specific emphasis on our finances.

Does the Bible give us instructions on making a good financial plan? Absolutely.

STEP 1

It starts with our hearts. Jesus said in Matthew 6:33, “But seek first his kingdom and his righteousness, and all these things will be given to you as well.” Our first step is to focus on God and fulfilling his purpose for our lives. This means placing God’s interests above our own. Earlier in Matthew 6 (verse 24), Jesus knows our tendency to focus on money and warns that “No one can serve two masters. Either you will hate the one and love the other, or you will be devoted to the one and despise the other. You cannot serve both God and money.”

STEP 2

Get help from a Christian financial advisor. Proverbs 15:22 says “Without counsel, plans fail, but with many advisors they succeed.” Having someone to confide in and discuss your goals with is important. A Christian financial advisor can help shape your dreams and hold you accountable to them. Consulting the Bible for wisdom in planning is confirmed in Psalm 119:105 “Thy word is a lamp to my feet, and a light to my paths.” 

STEP 3

Ensure your plan honors God. It’s possible to succeed at the wrong thing. If we fail to honor God, we may have succeeded in laying up treasure where moth and rust destroy instead of in heaven. Jesus says “For where your treasure is, there your heart will be also.” Matthew 6:20-21. Let’s peruse the wisdom in Proverbs to learn more.

Proverbs 16:3 – Commit to the LORD whatever you do, and he will establish your plans.

Proverbs 16:9 – In their hearts humans plan their course, but the Lord establishes their steps.

Proverbs 19:21 – Many are the plans in a person’s heart, but it is the Lord’s purpose that prevails.

If we pray fervently and actively work to ensure our financial plans align to God’s plan, we know that no matter what our earthly returns, we have a much greater heavenly return.

STEP 4

Understand where you are today. Proverbs 27:23 says “Be diligent to know the state of your flocks, and attend to your herds.” This verse teaches us to not only understand our current situation,  but also to take care of our resources. Knowing where we are allows our plans a starting point and may suggest areas on which to focus.

STEP 5

Take care of your family. 1 Timothy 5:8 says “Anyone who does not provide for their relatives, and especially for their own household, has denied the faith and is worse than an unbeliever.” This care should include food and shelter and may extend to insurance protection against catastrophic events. A Christian financial advisor can help address these concerns.

STEP 6

Maintain liquidity. In simplest terms, we must be prepared to meet our short-term obligations. This includes spending less than we earn, maintaining an emergency fund, having sufficient insurance (auto, home, medical, disability), and building short-term savings. Proverbs 6:6-8 “Go to the ant, you sluggard; consider its ways and be wise! It has no commander, no overseer or ruler, yet it stores its provisions in summer and gathers its food at harvest.”

STEP 7

Set long-term goals. Proverbs 21:5 & 20 says “The plans of the diligent lead to profit as surely as haste leads to poverty. The wise store up choice food and olive oil, but fools gulp theirs down.” It is important to know where we want to go and to take steps necessary to get there. Counsel from your Christian financial advisor can provide the tools and methodologies to set and accomplish long-term goals. In Ecclesiastes 11:2, we are told to “Invest in seven ventures, yes, in eight; you do not know what disaster may come upon the land.” 

STEP 8

Review progress and focus on the big picture. It is easy to lose focus and let the world dictate how we handle our money. Review these steps often in consultation with your Christian financial advisor. Our financial plan must support our eternity plan. In James 4:13-15, we are reminded that our plans should align with God’s will. “Now listen, you who say, “Today or tomorrow we will go to this or that city, spend a year there, carry on business and make money.” Why, you do not even know what will happen tomorrow. What is your life? You are a mist that appears for a little while and then vanishes. Instead, you ought to say, “If it is the Lord’s will, we will live and do this or that.” 

At Faithful Financial, we offer biblically responsible investments, Christian based financial planning, and free portfolio evaluations.

Copyright Faithful Financial Services – All rights reserved

Important Disclosures
Faithful Financial LLC is a registered investment advisor.