Are you looking to deepen your faith and grow in biblical stewardship? The Rich Toward God study from Faith By invites you to dive deep into the parable of the rich fool from Luke 12. This four-part study explores themes of greed, pride, and abundance, challenging you to reflect on what being rich toward God really means. Join us in this transformative journey through God's Word and discover how a life rich in faith can lead to lasting joy and fulfillment. Order your copy today or place a bulk order by going to faithby.com/slash shop.
Uh Businessman and author T. Harve Eker once wrote: Financial freedom is the ability to live the lifestyle you desire without having to work or rely on anyone else for money. Hi, I'm Rob West. It's tempting to think that financial independence is the ultimate goal of life, but what does the Bible say? The answer might surprise you because God's word points us toward a far better kind of freedom.
We'll explore that today and then we'll take your calls and questions at 800. Yeah. This is Faith in Finance, biblical wisdom for your financial journey. In recent years, the concept of financial independence has gained a lot of popularity. Many aspire to be self-sufficient, debt-free, and free to pursue their passions.
While those desires aren't necessarily wrong, there is a subtle danger. They can lead us to believe that we don't need anyone, including God. This isn't new. In Luke 12, Jesus told a parable about a man who idolized financial independence, a successful businessman, farmer, and investor. He decided, I will tear down my barns and build bigger ones, and there I will store all my grain and goods, and I will say to my soul, You have ample goods laid up for many years.
Relax, eat, drink, and be merry. You see, in his own eyes, he had made it. He needed no one, especially not God. But God replied, Fool, this night your soul is required of you, and the things you have prepared, whose will they be? Jesus wasn't condemning wealth or careful planning.
He was warning against trusting in them. The rich man wasn't punished for having resources, but for idolizing them. His goal was to be free from dependence on anyone, even his Creator. That's the heart of the issue. When we aim for independence from God instead of dependence on Him, we lose sight of our true calling as followers of Jesus.
We see this contrast in Proverbs thirty, where a man named Iger prays one of the most honest prayers about money in the Bible. give me neither poverty nor riches feed me with the food that is needed for me, lest I be full and deny you, and say, Who is the Lord? or lest I be poor and steal and profane the name of my God. Iger knew that too little could tempt him to sin in desperation, but too much could tempt him to forget God altogether. His request wasn't for total independence, but for daily dependence, just enough to keep his heart anchored to the Lord.
That's the opposite of what we see from the rich fool.
So, how do we know if our financial goals align with biblical principles?
Well, here are three questions worth asking. First, am I placing my faith and trust in money? saving for retirement or preparing for emergencies is wise, but it must never become the source of our happiness, security, or identity. Even if we're the ones making deposits, it's God who provides every resource. Second, Ask am I trying to eliminate work from my life?
Some may want to retire early to do what they want. While those desires can be good, removing work entirely isn't biblical. Work is a part of God's design, and while retirement may change how we work, whether volunteering or earning income, it should never end our contribution to His purposes. Third, ask, am I paying off debt just so I can live for myself? The Bible warns against debt, but the reason for paying it off matters more than anything else.
The goal isn't simply to have more for ourselves, it's to be free to give, serve, and join in God's work.
So, is financial independence biblical?
Well, that depends. If a certain amount of money or a specific set of financial circumstances represents your peace and joy, then no, it's unbiblical. Peace and joy come only from Christ. You don't have to wait until you're debt-free or retired to experience them. If your aim is to remove work from your life, then no, it's unbiblical.
Work is not a burden to escape, but a calling to embrace. If paying off debt is simply about freeing up money to indulge yourself rather than using it for God's purposes, well then it too falls outside of his design. This doesn't mean we can't enjoy the money God provides. He richly provides us with everything to enjoy, according to 1 Timothy. And every good and perfect gift is from above.
We see that in James. But if our priorities revolve around us instead of advancing God's kingdom, We've fallen short of his design.
However, If your vision of financial independence is rooted in generosity, faithful stewardship, and joyful dependence on God, then you're aiming for something far greater than independence. You're seeking a life that is truly rich toward God.
Well, that's precisely the heartbeat behind our four-week study, Rich Toward God. This resource walks you through Jesus' parable of the rich fool in Luke 12, helping you examine what drives your financial decisions, where your true financial security comes from, and how you can align your money with God's purposes. Get your copy at FaithFi.com, just click shop. That's faithfi.com. Back with your questions after this.
We'll be right back. When you hear the phrase, rich toward God, what comes to mind? Surely it doesn't mean making God rich. Is it about us becoming rich so we can give? Or maybe it's an invitation to something much bigger.
In the Rich Toward God Study, Faith Phi has created a way for you to explore and reflect on a well-known biblical parable about a very rich man with a very big problem. Purchase your copy of the Rich Toward God Study or place a bulk order today at faithfy.com/slash shop. We are grateful for support from Praxis Investment Management. Since 1994, Praxis has offered investment products designed to meet practical needs for everyday investors seeking to steward their assets consistent with their desire to promote positive social and environmental impacts. Praxis aims to bring a faith-based approach to ETFs, mutual funds, multifund portfolio solutions, and money market accounts, reflecting their 500-year-old Anabaptist Christian faith tradition.
More information is available at PraxisInvest.com. Great to have you with us today on Faith and Finance.
Well, our phone lines are open. It's time for your phone calls today at 800-525-7000. Again, that number 800-525-7000. We will begin to dive into those questions here in just a moment, but this is the time to get in the queue. Our team is standing by.
We do have several lines open at the moment, although that likely will not last. 800-525-7,000. Any financial topic in play today? We can talk about your spending plan, perhaps debt management. We would love to weigh in on your investment strategy as you plan for the future.
Perhaps consider what retirement goals should look like and what is that right investment mix of assets and investments for you. What about faith-based investing? What about aligning your investments to your values as a Christ follower? That's a new and exciting aspect of investing that in the last five years has changed completely. There are now world-class investments.
Available for you to take advantage of. And, you know, as Christians find out about them, they are increasingly saying, yes, if I can align my capital deployment, not just my giving, but my capital deployment with my deeply held values as a Christ follower, I'm in. What does it look like? Give me those ETFs and mutual funds. I'm going to put them in my IRA or in my 401k if I have that option.
Well, increasingly, that is available. And again, you don't have to sacrifice returns in order to invest that way. And more and more advisors are completely transforming and transitioning their practices to only offer faith-based investments, those that serve believers.
So any of those topics and more, that number again, 800-525-7,000. But first, in the news today, a new survey by the financial technology firm Happy Money highlights a troubling paradox. While many Americans say they're concerned about credit card debt, far fewer are taking Taking concrete steps to address it. The study found that 42% of U.S. adults report being worried about their credit card balances, yet, more than one in five admitted they've done nothing to reduce those balances in the last six months.
Here's what the survey revealed: debt ranks high on the worry list. Managing credit card debt was the third most common financial priority at 36% just behind building savings at 40% and covering day-to-day expenses 42%.
Some are making changes. Among those taking action, 39% reduced discretionary spending. That's spending on things that you don't get a bill for every month, but we still spend money on. 28% postponed major purchases, and another 28% created or followed a budget to make some changes. They're seeing mixed strategies.
Nearly as many people tapped into their savings to pay off debt as those who simply left their balances untouched, a move that may solve one problem.
Well, why create while creating another? It's always best to have three to six months' living expenses in your emergency fund. If you're having trouble managing credit card debt, we urge you to contact our friends at ChristianCreditCounselors.org. That's ChristianCreditCounselors.org. They can help you put yourself on a debt management program that will allow you to pay off the debt 80% faster.
Here's how it works. You get those interest rates down, you make one level payment. You don't take out a new loan and you don't stop paying, which is what debt settlement is. Stays right there. But the combination of that level payment not declining as the balance is declining and the much lower interest rate, instead of 22% or higher, you're going to be down between zero and eight, usually perhaps as high as 12%.
So, ChristianCreditCounselors.org is the place to go. Financial experts warned that ignoring high interest debt is risky. Since small balances can grow quickly, especially at these average interest rates, if you choose to go it alone, even small consistent steps like cutting back on extras or using the snowball method, that's where you go smallest to largest balance, not interest rate, because that plan that you're going to finish is the one that's best for you. And when you can see those early wins along the way, the data says you're more likely to see it through. Just that extra payment or that snowball method can build some momentum and help you regain financial stability.
Certainly, we would love to help. If you find yourself in a position today where you're overwhelmed with some debt, maybe it's weighing on you, you're feeling that anxiety, let's talk it through. We'd love to offer our counsel here. Just call 800-525-7000. All right, I'm ready to dive in, and we're going to begin in Northport, Florida.
Walter, go ahead, sir. Yes, thank you for having me.
So I am thirty one years old. I started my career for assisted living. community then I had another job at heating and cooling And then I married my wife and moved to Florida worked at a hospital And now I'm at a different hospital. Every job I've had a 401k or some kind of benefit. which I haven't done so good in keeping up with.
And my question is, because I'm thinking to get a financial advisor or someone to help me out. But how do I really wrap my head about uh keeping track of All my money. Yeah, and specifically just a financial plan, Walter, or an investment strategy, or all of the above? Yeah, all the above.
Okay, yeah.
Well, I think you're in a great spot to go ahead and engage with a financial advisor. You know, a lot of times we think that, well, we need, you know, $500 million in order to be able to engage an advisor. And that's just not true. You know, there's planning functions that a financial advisor can offer early, even while you're still building wealth. And then at some point, they can step in and help you manage it, either just giving you some counsel if it's in a 401k or actually through direct management if you have enough assets outside of a 401k that you meet their minimums and so forth.
But I think you're in a great spot to do some planning just to look at: okay, where are we at in our financial life in terms of are we offsetting the risks that exist with the proper amounts of types of insurance? What are we doing toward retirement? What's our ultimate finish line? And are we on track for that? What vehicles?
Are we saving in? What about lifestyle and cash flow? And do we have a plan to handle that? If you have kids, what about college savings? And then you've got your estate plan and making sure that you've got a valid will and you've thought through some of those decisions.
Even in your 30s, you need that.
So there's a host of things that can be covered, as well as minimizing taxes. And that's where a financial planner would often do what they call a comprehensive financial plan that would really look at all of these things that they would deliver to you. And then over time, they can serve a valuable role for accountability. Because they can ask you hard questions and they can keep you all accountable to your goals. It's a great person to be able to ask your spouse questions too and allow you all to kind of work through your goals and plans and make sure that there's somebody there walking alongside you.
So where I would go next, Walter, if you don't have somebody in mind, is to our website at faithfi.com. That's faithfi.com. And right there at the top of the page, you can click the button that says find a CKA and do a zip code search for a certified kingdom advisor. I'd interview two or three, make sure you're a good fit for their practice. And then I think that'll give you what you're looking for.
Okay, great. Thank you so much. Yeah, I've seen there's two. tools I need working full time, I just can't manage myself. I guess all the Resources and everything out there.
So, thank you for that.
Well, there's wisdom and a multitude of counselors, Walter.
So I think this is a great time for you to take advantage of that. Thanks for calling today. We appreciate you being on the program. By the way, phone calls are welcome and lines are open.
So if you have a financial question today, we'd love to tackle it with you. That number, 800-525-7000. Again, it's 800-52570000000000000 7,000. This is Faith and Finance biblical wisdom for your financial decisions. We'll be right back.
What if managing your money could actually draw you closer to God? What would happen if we began to see God as our ultimate treasure? The Faith by App helps you do more than budget. It helps you integrate your faith and financial decisions for the glory of God. With easy-to-use envelope futures, top biblical financial content, and a supportive in-app community, you'll learn to steward God's resources wisely and grow in generosity.
Download the Faith Buy app today from your app store or visit faithbuy.com and click app. Feeling burdened by credit card debt? As faithful stewards, we are called to manage our finances wisely. Christian Credit Counselors can help with a debt management program that allows you to pay off debt up to 80% faster. while honoring your commitments with integrity.
Don't let debt hold you back from the life God has planned for you. Take the first step toward peace and financial freedom today. Visit ChristianCreditCounselors.org. That's ChristianCreditCounselors.org. Great to have you with us today on Faith and Finance.
We're taking your calls at 800-525-7000. All right, let's go to Wichita, Kansas. Hi, April. Go ahead. Hi, thank you for taking my call.
I'm calling in regards to my daughter. She is currently 16. At the age of 14, she was hit by a vehicle on her way to school. And by the grace of God, she's made a 1,000% complete recovery.
So she's perfectly fine. She's in dance. And she's a junior in high school at this time.
Now, because of that accident, she was awarded a settlement amount in total of $300,000. of which the attorney took $100,000. The remaining two hundred yeah, the remaining two hundred and I believe it was like fifteen thousand or something like that. I have 200,000. of it in a C D for her.
Under her name, and then I have like $12,000 in a money mutual market. This is my problem. She is 16 years old, and because she was the one that was hit by a car, the money was like, it's her money, right? And what that means is that When she's 18 in the state of Kansas, that money is just it can be automatically released to her and I as her mother have no say-so over it. My question is.
I do not want my daughter to have access to the to $220,000 at 18. I just don't want that. I had inquired about putting it in a trust, but I was advised that's not an option because it's not my money, it's her money. And I don't even want her to know that she has that much money. As of right now, at 16, she does not know that she's got 200.
$20,000 in accounts. And my goal for her is to go to college. She's a high-achieving student. She most likely will get scholarships. She will not need to use that money to pay for school.
My question is this.
Now what are my options? 2. that money from her. I'm not doing that because I want her money. I just don't think an 18-year-old should have access to $220,000.
So can I become her guardianship or how do I move? How do I move that money? Or what are my options? It's a great question. I can certainly understand why you'd want to protect her from herself until she's financially mature enough to have these funds available to her.
Unfortunately, you may not have an option. It's probably going to come down to how the settlement was worded. Generally, you know, these things are held in escrow until the beneficiary reaches the age of majority, and then they have a legal right to the money.
So I think the main thing you can do is two things. Number one is you could get legal counsel just to somebody who could look at the settlement and how it was worded, look at how this account is titled and tell you what options you have, if any. I'm not an attorney, so I wouldn't want to tell you that definitively because it really is a legal matter as to who has title over this and how it's right now it's handled in terms of if it's in a custodial account, it automatically becomes her asset at the age of majority. And because it was for her benefit and currently in a custodial account, I'm guessing, and that's all I'm doing, that you're not even able to retitle it at this point. Just because you don't have a legal right to the money.
And by doing that, you would, in a sense, be taking this money, even though that's not your intent. You would have the option to do with it what you want if you pulled it over into your name. And obviously, that was not the intent here.
So I think you need to get some legal counsel, perhaps an estate attorney, someone that could review this and advise you on it. Secondly, I think the biggest thing you can do right now is just start to the best of your ability teaching her how to manage money and really leaning into teaching her biblical financial principles, starting with small amounts, teaching her the importance of hard work and the importance of generosity. And I'd love to send you a resource that I think could be great for you guys to go through. It's a curriculum called Open Hands Finance, and it's by a good friend of ours. They were graduates of Taylor University, and they do a lot of writing and speaking now.
A godly couple that's young, and they developed this curriculum that really is geared for freshmen, sophomores in college who are just starting out, just trying to learn as young adults how to manage God's money to do it in a biblical way, but it's very practical content as well. And I think that could be something that you could systematically go through with her. It actually even gives some kind of fictitious scenarios. And helps her kind of determine how to manage money in those situations. And it's just really well done and beautifully designed.
So I'll send you a copy of that. Again, it's called Open Hands Finance, and I think it'll be a real blessing to you. And then I think you should schedule a meeting with an attorney to kind of work through this and just see if there are any other options for you to exercise some protection over her with regard to this money, given the situation. Does that make sense? Yeah, she They assigned a conservator.
It's under a conservatorship. The conservator is also an attorney. I did speak with the attorney and basically the lawyer, yeah, the lawyer told me that all I could do basically was just kind of extend it till she's 21. But I'm like, what can I want to be her guardian, but I can't be her guardian. I don't know.
But the open hands finance will help me. Yeah, we'll get that in the mail to you.
So you stay on the line. Unfortunately, we're just going to have to trust the Lord on this one because it, you know, you can't be a guardian for somebody who's now a legal adult. And, you know, there's not any hardship or, you know, anything medically that would allow you to step in and retain control. And so we're going to have to trust the Lord and do everything you can do to prepare her for what you know is coming, even if she doesn't know that it's coming.
So all the best to you, April. Why don't you stay on the line? We'll get that information out to you. And I hope it'll be a blessing to you. Thanks for calling today.
We don't have much time left, but I want to get to Boca Raton. Elaine, I understand you have an adult son that has autism and you're wondering about the best way to plan for his financial future. I know money is tight. Are you looking mainly for just what is the best vehicle to put any funds in that might be there for his care beyond your life? Yes.
He is on the Florida med waiver.
So he can't keep more than $2,000 a month. in his checking account. And I'm wondering how is he going to survive in the future if there's like Some type of a form that I could save some money, put some money away for him. for his future care and what would be the best way for me to do that. Yeah, very good, Elaine.
I want you to go back and listen. If you go to faithfi.com and you search for A-B-L-E, the ABLE account, it stands for Achieving a Better Life Experience. It's a type of account that was created for people with disabilities. And it allows them to work and save for themselves, or someone else to save for them, like you. And it does not restrict in any way their government assistance.
So while you're on SSI or Medicaid, Uh it keeps these assets separate. And as long as he was disabled prior to the age of 26, and that's actually increasing to 46 next year, you know, it allows him to work and to save and not bump up against those asset limits. You can put in up to $100,000 in them, and there's no impact on government benefits whatsoever. Again, it's called ABLE. And you may want to look at the ABLE Resource Center on the web.
You could do an internet search for it. And it will give you all the details. I wish you had more time, but I think that's where you need to go next. Thanks, Elaine. Jim, Lisa, Dan, and Anthony serving us today.
We're grateful for them. We'll see you tomorrow. Faith in Finance is provided by FaithFi and listeners like you.
