A God’s Eye View of Money With Howard Dayton | FaithFi
May 18, 2022
A God’s Eye View of Money With Howard Dayton
MoneyWise Live
“’For my thoughts are not your thoughts, neither are your ways my ways’, declares the Lord.” Isaiah 55:8. Don’t think that excuses us. We can know more of what God thinks by studying His Word... especially about money. Rob talks about that with Howard.
“For my thoughts are not your thoughts, neither are your ways my ways’, declares the Lord.” Isaiah 55:8. That’s a profound statement that certainly puts us in our place. But don’t think it lets us off the hook. We can know more of what God thinks by studying His Word... especially about money. Rob talks about that with Howard Dayton first. This is MoneyWise Live - biblical wisdom for your financial journey. MoneyWise contributor Howard Dayton is the founder of Compass— Finances God’s Way, the former host of this program, and author of several books on biblical finances. Rob and Howard cover these topics and questions:
Rob - We’re peeking inside your book Free and Clear— God’s Road Map To Debt-Free Living and want to gain a “God’s Eye View of Money” as you call it, and you point out that there are reasons that Jesus said so much about money.
Jesus said so much about money for two reasons:
How we handle our money impacts our fellowship with Him.
He wants to help us handle money wisely.
There's another reason why Jesus taught so specifically on the handling of money.
Money plays a big part in our lives. We spend much of our time working for it, deciding how to spend it, grappling with debt, thinking about where to save and invest, and praying about giving.
The Lord knew money would be a challenge, even a source of conflict for many of us so God wants us to manage money wisely, and that’s why He’s given us clear, practical truths in the Bible that really work.
Rob - Talk about the point you make that there’s a division of responsibilities when it comes to managing money.
I like to think of it as “where the buck really stops.” God has certain responsibilities, and He has given other responsibilities to us.
Most frustration in handling money comes because we don’t realize which responsibilities are ours and which belong to the Lord. It’ll be really helpful to understand this division as you evaluate your current situation.
God’s responsibility is that of the Owner. He created all things and owns everything. Psalm 24:1 tells us, "The earth is the LORD'S, and everything in it..."
Scripture gets even more specific. Leviticus 25:23 identifies God as the owner of all the land: "The land must not be sold permanently, because the land is mine and you are ... my tenants."
Rob - How does our perspective on money and possessions change when we acknowledge God's ownership?
Every spending decision becomes a spiritual decision. No longer do we ask, "Lord, what do You want me to do with my money?" The question becomes, "Lord, what do You want me to do with Your money?" When we have this attitude and handle His money according to His wishes, spending decisions are just as spiritual as giving decisions.
Rob - And our responsibility regarding money?
The word that best describes our responsibility is steward. Stewards manage someone else's possessions or money. Our responsibility is summed up in 1 Corinthians 4:2, "It is required in stewards that one be found faithful."
Before we can be found faithful, we must know what we are required to do. Just as the operator of a complicated piece of machinery studies the manufacturer's manual to learn how to operate it, we need to examine the Owner's manual—the Bible—to determine how He wants us to handle His possessions.
As long as we’re handling His resources His way, as the Bible’s 2300-plus verses teaches, we don’t have to worry about having enough.
Next, Rob answers these questions at 800-525-7000 or via email at Questions@MoneyWiseLive.org:
If you have a good bit of equity in your primary residence, is it a good idea to refinance to pull some out, then invest that money?
If you have $75,000 from selling a house, you're looking at a house selling for $116,000, you have $10,000 in savings, you spend about $2,500 per month and don't have a lot of extra money left each month, should you put all or just some of the proceeds to the purchase of the new house?
If you recently used up most of your savings while out of work on maternity leave, how can you best prepare for another maternity event that might be in the future?
If your aunt has run up a big credit card debt, should you recommend debt consolidation and how can you help without just giving her money?
Where should you look for a financial coach?
54 want to be better prepared for retirement and are concerned about the welfare of the Social Security system, what are some steps to be prepared when you reach age 67?
If you currently have both Whole Life and Term Life insurance policies, how can you determine whether you actually need both?
Does MoneyWise think I Bonds are a good investment tool?
How is capital gains assessed?
If you're 55, have had whole life policy for quite a while that has only a few thousand cash value with a death benefit of $50,000, should you terminate it and get a term policy?
If you're 58, have recently downsized and now have a mortgage of $88,000 for 26 years, when you turn 59 1/2, should you use funds from your 401(k) to pay down your mortgage?
Be sure to check out the rest of MoneyWise.org to connect with a MoneyWise Coach or access our books and our many free helpful resources. You can also find us on Facebook (MoneyWise Media) and join the conversation. Thanks for your prayerful and financial support that helps keep MoneyWise on the air. And if you'd like to help, just click the Donate tab at the top of the page.
