<p><i>“Therefore do not be foolish, but understand what the Lord’s will is.” - </i>Ephesians 5:17</p><p>That verse is a good reminder that to follow God's will, we must first know it for all areas of our lives—including finances. Brian Holtz joins us today with a question: Does your budget reflect God’s priorities or yours?</p><p>Brian Holtz is the Chief Operating Officer at <a href="https://compassfinancialministry.org/">Compass Financial Ministry</a> and the author of <a href="https://compass1.org/product/financial-discipleship-for-families/"><i>Financial Discipleship for Families: Intentionally Raising Faithful Children</i></a><i>.</i></p><h3>Ownership vs. Stewardship </h3><p>One of the fundamental concepts of Christian finances is the distinction between ownership and stewardship. Psalm 24:1 reminds us, <i>“The earth is the Lord’s and all it contains.”</i> In 1 Corinthians 1 and 2, we learn that we are stewards or managers of God's resources, and as such, we must be faithful to His goals and priorities rather than our own.</p><h3>God’s Priorities for Money </h3><p>Scripture reveals five critical priorities for managing our finances in a way that honors God:</p><ol><li><strong>Generosity</strong>—There are over 300 verses about giving and generosity. We are encouraged to give our first and best, never the leftovers.</li><li><strong>Providing for Family</strong>—1 Timothy 5:8 emphasizes the importance of providing for our families, stating that neglecting this responsibility is akin to denying the faith.</li><li><strong>Meeting Financial Obligations</strong>—Romans 13 urges us to meet our financial obligations, including paying taxes and repaying debts, reflecting our commitment as representatives of Jesus.</li><li><strong>Saving for the Future</strong>—Responsible saving is crucial to being faithful to the first three priorities during times of hardship or insufficient income.</li><li><strong>Enjoying God’s Blessings</strong>—While enjoying God's blessings, we must ensure that this enjoyment does not take precedence over His greater priorities.</li></ol><h3>Aligning Our Budget with God’s Priorities </h3><p>If our budget isn't aligned with God's priorities, we need to admit our mistakes to God and recommit to His goals. As a family, we should make financial trades to align our budget lines with God’s priorities.</p><ul><li><strong>Generosity:</strong> What abundance could we cut back on to be more generous?</li><li><strong>Provision: </strong>Are we saving too much at the expense of our family's immediate needs?</li><li><strong>Debt Repayment:</strong> What could we stop doing to pay off debt faster?</li><li><strong>Enjoyment:</strong> Once priorities are in order, how can we honor God by enjoying His blessings?</li></ul><p>Aligning our finances with God's priorities honors Him and brings a more fulfilling and purposeful life.</p><p>You can learn more about biblical money management by visiting the <a href="https://compassfinancialministry.org/learn/">Learn section</a> at <a href="http://compassfinancialministry.org">CompassFinancialMinistry.org</a>. You can find resources suited to your preferred learning methods, whether reading, watching, or listening.</p><h3>On Today’s Program, Rob Answers Listener Questions:</h3><ul><li>I love the idea of the QCD, and I know they work with IRAs. Do they work with 403b accounts?</li><li>I used to have investments but had some high veterinary bills, and I'm on disability. I'm trying to get an emergency fund, but every month, I have to use the money I put aside. I need some encouragement on how to get his emergency fund because that's the first step I have to do.</li><li>Is a reverse mortgage a good idea? Would we lose ownership of our home if we did this?</li><li>I'm looking forward to starting a business and would like to know if I should open it as an LLC or an S corporation.</li><li>I have my will and everything specified in it, including how things are divided regarding my house, estate, etc. I also have investments, and those are all I have beneficiaries on. My financial advisor says that I don't need a trust, but my kids are pushing me to get a trust to avoid probate. </li></ul><h3>Resources Mentioned:</h3><ul><li><a href="https://compassfinancialministry.org/">Compass Financial Ministry</a></li><li><a href="https://www.amazon.com/Wise-Women-Managing-Money-Budgeting/dp/0802424260/ref=sr_1_1?dib=eyJ2IjoiMSJ9.q1ewEDB7wyZTNNOJZ0-IqVit-GUE-eETLaxSsQ_DVWhuOjEGpZ0BBWbL9QMbvJcSQKck_pXI6_VcP0ml-ynNsRSRlVAu5i8jXsoAgKLXmJ8-oJXo3p8H3oiCAWfhdSFpgfe84mybaqB-hGyz7NEOI2uoDXpdRn55XF5zxZChPpvTmU_xFYcvaSXsYZpVnBlS_AkzEkth4q0c7cE0ozFdqNX6tUwiBAKb7zXT8gXV5go.GTtJfOxxySNKsbNrMcb25DKbLvjtUYXm2FO3EIlZYWA&amp;dib_tag=se&amp;hvadid=676976469835&amp;hvdev=c&amp;hvlocphy=9026815&amp;hvnetw=g&amp;hvqmt=e&amp;hvrand=17625200903725982591&amp;hvtargid=kwd-1152355013991&amp;hydadcr=22162_13517532&amp;keywords=wise+women+managing+money&amp;qid=1720639948&amp;sr=8-1">Wise Women Managing Money: Expert Advice on Debt, Wealth, Budgeting, and More by Miriam Neff and Valerie Neff Hogan, J.D. </a></li><li><a href="https://www.faithfi.com/rtg">Rich Toward God: A Study on the Parable of the Rich Fool</a></li><li><a href="https://www.faithfi.com/find">Find a Certified Kingdom Advisor (CKA) or Certified Christian Financial Counselor (CertCFC)</a></li><li><a href="https://www.faithfi.com/manage">FaithFi App</a></li></ul>
<p><p>Remember, you can call in to ask your questions most days at (800) 525-7000. Faith &amp; Finance is also available on the <a href="https://www.moodyradio.org/programs/faith-and-finance/">Moody Radio Network </a>and <a href="https://afr.net/podcasts/faith-finance/">American Family Radio</a>. Visit our website at <a href="https://www.faithfi.com/">FaithFi.com </a>where you can join the FaithFi Community <a href="https://www.faithfi.com/give">and give </a>as we expand our outreach.</p></p>

FaithFi

Faith & Finance is a daily radio ministry hosted by Rob West. The program offers a practical, biblical and good-natured approach to managing your time, talents and resources.

Faith & Finance with Rob West

“Therefore do not be foolish, but understand what the Lord’s will is.” - Ephesians 5:17

That verse is a good reminder that to follow God's will, we must first know it for all areas of our lives—including finances. Brian Holtz joins us today with a question: Does your budget reflect God’s priorities or yours?

Brian Holtz is the Chief Operating Officer at Compass Financial Ministry and the author of Financial Discipleship for Families: Intentionally Raising Faithful Children.

Does Your Budget Reflect Your Priorities? with Brian Holtz

FaithFi: Faith & Finance | Jul 17, 2024

Show Notes

Where Faith Meets Finance

You May Also Like