Financial Discipleship For Families With Brian Holtz Pt. 2 | FaithFi
December 13, 2023
Financial Discipleship For Families With Brian Holtz Pt. 2
Faith & Finance with Rob West
Whenever you take on an important task, it’s vital to have a plan. That’s certainly true for raising faithful children. Brian Holtz is here today to help you actively disciple your children in a framework you may not have considered.
WHAT ARE THE FIVE PILLARS OF FINANCIAL DISCIPLESHIP?
These pillars guide children in understanding their role as stewards of God's resources and making decisions that align with biblical teachings:
1. Ownership: Recognizing that everything is owned by God.1 Chronicles 29:11 tells us everything in the heavens and earth is His. And Psalm 24:1 says the earth is the Lord’s and all it contains.
2. Surrender: Understanding our role as stewards or managers of God's resources.
3. Choice: Making decisions to handle finances God's way, as exemplified in the Parable of the Wise and Foolish Builders (Matthew 7:24-27).
4. Multiplication: Sharing learned principles with others, in line with the Great Commission (Matthew 28:18-20).
5. Eternal Focus: Keeping in mind the eternal impact of our financial decisions on Earth.
HOW CAN PARENTS USE PRACTICAL OPPORTUNITIES TO TEACH FINANCIAL DISCIPLESHIP?
Brian emphasizes the importance of providing practical opportunities for children and grandchildren to apply God's financial principles. This includes teaching them about working, income, giving, spending, planning, budgeting, and accounting for finances.
Teach children about earning and managing money, giving them responsibilities and rewarding their efforts.
Educate them on the importance of planning and budgeting, helping them understand the long-term impact of financial decisions.
Guide them in accounting for their finances, setting financial goals, and making wise choices.
ON TODAY’S PROGRAM, ROB ANSWERS LISTENER QUESTIONS:
I'm 66 and planning to retire at 67 and a half with a mortgage of about $161,000. I have $127,000 in savings, which I plan to use to pay off the house. Should I split my contributions between paying off the house and saving, or focus on one?
As a single mom and teacher planning to retire, I have $10,000 in credit card debt with an interest rate of 11%. Should I take a credit card offer or get a home equity line to manage this debt?
I'm facing a company transition and have a 401k of about $140,000. Should I roll it over to the new company's 401k, to an IRA, or consider other options?
I want to help my daughter buy a car by purchasing it myself and then letting her pay me back over time. Should I buy the car in my name and then transfer it to her, or structure it differently?
I purchased a cemetery plot in the 80s and am now looking to sell it for more than I paid. Do I need to pay capital gains tax on the sale?
Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network as well as American Family Radio. Visit our website at FaithFi.comwhere you can join the FaithFi Community, and give as we expand our outreach.
