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Now, onto the podcast. No. Money lessons aren't just for adults, they're for the whole family. Hi, I'm Rob West. What if your kids could learn biblical principles of generosity, contentment, and stewardship through the power of storytelling?
Today, Dr. Shane Ened joins us to share a creative new resource that helps parents connect faith and finance in ways kids can truly understand. And then it's on to your calls at 800-525-7000. That's 800-525-7,000. This is Faith and Finance, biblical wisdom for your financial journey.
Well, it's always a treat to welcome back Dr. Shane Enett. He's an associate professor of finance at Biola University, where he founded Biola's financial planning program. Additionally, he's the creator of the Money Storybook Bible Podcast, which helps parents connect faith and finance through the power of storytelling. Shane, it's always a pleasure to have you on the program.
Yeah, so fun to be here. Thanks so much. Shane, I love this idea, reading beautifully retold Bible stories about money to your own kids.
So why don't you take us back? What inspired you to start the Money Storybook Bible podcast?
So, you know, I get asked a lot about how, um, you know, is there a resource for teaching kids about money? And so, I was. Thinking through it, trying to figure out, you know, how I can kind of communicate lessons about money. And then I just, it kind of dawned on me that the Bible has already done that. You know, the Bible, it's the second most discussed topic, and the Bible's made for all ages.
And it's, you know, largely story-based. And so I was like, well, I tell stories to my kids every night. What if I just told Bible stories and I kind of flushed it out a bit so they could get engaged and see themselves in the story and also teach them about money? Yeah, I love that. And when parents listen to these stories, what's the key lesson, Shane, you hope they take away about helping their kids learn biblical money habits?
You know, there's so many, but I'd say that, you know, stewardship, this idea of having money is just one huge opportunity to express our love for Jesus. You know, and so when we share, you know, and sharing is caring, we're actually just loving on Jesus and we're loving on each other. And so, I want them to see that money is an opportunity. And then I also want them to see the wisdom, you know, of learning about saving and having some self-control so that you don't spend too much. And also, the dangers of debts and the dangers of discontentment and seeing wealth as more important than Jesus.
Give us a sense of what the podcast sounds like. You're reading to your kids, but there's also an interactive element.
So how does all that come together? Yeah.
So my kids are there and I ask them some icebreaker questions that relate to the story that we're going to read. And so, you know, they might be a would you rather, or what's your favorites? And so the kids respond. And then I read the story and then I ask them questions about the story to gauge their level of understanding. And then we do an activity.
Either I just introduce the activity and we can do it over the air, or I just say, here's the activity, we're going to do it later. Yeah, I love that. I'd love to hear how kids are responding to these stories. What kinds of things do they say or do that show the lessons are really connecting? You know, I'll answer that with my kids.
It was just real special for me. You know, we were brainstorming together about activities, and I have a story about Ecclesiastes and King Solomon, and I kind of make him a little bit silly. He's eating too many dates and he's getting full, and he's also kind of giving his proverbs about money as he's trying to teach the kids. And then he's getting distracted because of all the hardship of wealth. And then I asked them after the story is done, I said, All right, there's two worlds.
You have a world where you're rich, like Solomon. And I have them go through what they'd buy, you know, and Sage, my daughter, would want to buy all of Target, you know, and then, you know, a whole stable of horses, and Silas would want to have Disneyland. And so I walk through the lifestyle of that. And then I say, well, in this world, you don't know Jesus. And then in world B, everything's the same and you just love on Jesus.
And I asked them, which world would you? you rather be in. And I expected a little more of a consultation, a little more of a thinking, but both of them just very animately said, you know, we want the world with Jesus, you know, and so that was just a real special moment where I felt like that's what I want to teach them, you know, more than just budgeting or debt management. I want to teach them that Jesus is everything and money is an opportunity to love him. That is so powerful.
Well, folks, we're talking with Dr. Shane Ina today. He's the creator of the Money Storybook Bible podcast. And when we come back, we'll actually share a few clips from the series.
So you're not going to want to miss this. I can't think of a more important topic. How do we communicate the heart of God related to money to our kids? This is Faith and Finance. Don't go anywhere.
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You know, helping kids handle money is a part of helping them follow Christ. We all want to raise generous kids, and what if you could do that through the power of story?
Well, today we're privileged to have back with us a regular contributor on this program, Dr. Shane Enett. He's associate professor of finance at Biola University. He's also the creator of the Money Storybook Bible podcast, which helps parents connect faith and finance through the power of storytelling. All right, Shane, I want to dive into a clip from an episode based on Acts 16.
I know it's titled Purple Snail Robes.
So, in this creative retelling, Lydia offers to sell everything, give her wealth to Paul, and travel with him to share the gospel. But Paul helps her see that her business itself can be a way to honor God. God, let's take a listen. Paul sat down and thought for a while. Then he prayed quietly, asking the Holy Spirit for wisdom.
After a moment he stood up and looked kindly at Lydia. Lydia, he said, you know. It's a wonderful thing that you want to give everything for Jesus. But not everyone is called to leave their home.
Sometimes God wants us to serve Him right where we are, and Lydia's smile faded just a little. But I want to tell people about Jesus too, she said softly. Paul nodded. And you will. I believe God wants you to share the good news through your purple cloth business.
You're amazing at running your business and blessing others with your beautiful robes. When you love others, share what you have, and do your work with skill and kindness, you're showing people who Jesus is. Suddenly Lydia's eyes lit up. she jumped up and gave Paul a big bear hug, like she would her older brother. I get it.
Everything I have belongs to God. He's calling me to use my business and my home to help bring his kingdom to life. That means making beautiful robes with skill and care, but also sharing my food and my home with others who are in need. Then Lydia paused and looked very serious. Paul, she said, I want to be your sponsor.
My home is your home. My money is your money. My business is your business. We're family now, and it all belongs to God anyway. Paul and his friends cheered with joy.
Then Paul raised his hands and gave a special blessing over Lydia and her household. May the grace of the Lord Jesus Christ, and the love of God, and the fellowship of the Holy Spirit be with you, and everyone in your home and business. Mm. Shane, that story of Lydia is so powerful. Boy, it just really captures generosity and the beauty of using what we have for God's glory.
I'd love for you just to reflect on that a bit and share your heart for our listeners. Yeah.
You know, this story. I really was thinking of John Reinhart and the gospel patrons. And he really just brought about an awareness that every gospel movement has a gospel patron. And so when I, you know, was thinking about different characters in the Bible, different stories, Lydia, to me, was one of the first gospel patrons that's mentioned. And then I also really liked, as I learned more about Lydia, that you have to smash snails to create purple robes.
And any kind of little, little bit like that is really fun for me with kids, you know, because it's just a, you know, I feel like I want to always add random little things that are really visual, that are really fun for kids to think about.
So the combination of purple snails and And this idea of a gospel patron, and this idea that Lydia was just this neat example that we can all learn from in today's world. Mm. Powerful. All right, let's move to another story. This one is based on John 19, titled 75 Pounds of Spices.
And it, of course, tells the story of Joseph of Arimathea and Nicodemus, overheard by Nicodemus' young daughter, Abigail, and beautifully illustrates how generosity can be both courageous and costly. Let's listen. Joseph spoke first. Jesus of Nazareth was greater than any man who ever lived. We must honor him.
I can't bear the thought of him being thrown into a criminal's grave. Joseph took a deep breath. I will give him my tomb I just purchased. Nicodemus's eyes widened. Joseph's tomb was brand new hand carved tomb in the rock near the city.
It was worth almost ten years of wages about a half a million dollars in today's money. Are you sure? Nicodemus asked. Yeah.
Joseph said without hesitation. What is the point of wealth if not to be generous like God, and express my love of God in a generous way? Jesus had so much love for all of us I want to now respond by loving him back with my tomb. He needs a tomb fit for a king, and I will give it to him. Nicodemus was silent for a moment.
Then he stood up, determination in his eyes. I want to help, too. What do you have in mind? Joseph asked with curiosity. Nicodemus responded, A king's burial requires spices, myrrh, and aloes to wrap the body.
The more spices, the greater the honour. I will buy seventy five pounds of burial spices. It was Joseph's turn to open his eyes in shock. Seventy five pounds Joseph gasped, knowing this would be at least two years of wages. Nicodemus smiled.
Should it be more? As they discussed the details of what to do next, suddenly a small voice interrupted them. I want to help too. Startled, both men looked up and saw little Abigail standing bravely before them. Nicodemus sighed and shook his head.
That's very kind, daughter, but everything has been arranged, he said, not really paying attention to her. Then he and Joseph turned back to their discussion. But Abigail wasn't giving up so easily. She stepped forward, holding her holding her most prized possession, her favorite blue necklace. I want to help too, she repeated, her voice steady and strong.
Nicodemus stopped. He looked at the necklace, then at his daughter. This was the first time he had seen her take it off. It was her most treasured thing in the whole world. Slowly he knelt down beside her.
Abbey? Are you sure? Abigail nodded. Yes, I'm sure. A king should have a beautiful necklace.
I once saw Caesar wear a necklace, and isn't Jesus greater than Caesar? Joseph and Nicodemus exchanged a look. Then with great care Nicodemus took the necklace from Abigail's hands. With love and respect, they carried out their plan to give Jesus a king's burial. Wow, another powerful story.
All right, Shane, take us into this one. Why this particular story? You know, I first caught wind of how much 75 pounds of spices were from a colleague here at Biola, Dr. Janine Hanger. She studies the embodied nature of Jesus and writes about engaging our senses.
And she had done some dissertation work on this idea of how much spices are involved. And it's far greater than anyone who's ever been buried. And so that just captures my imagination, you know, that that detail is in the Bible. And you also think about how Joseph and Nicodemus were likely friends, and the combination of the just huge gratuitous generosity of the tomb and the spices together. And then, you know, I add a child being generous alongside the adults.
And that really creates kind of a fun dynamic. And I don't know, just everything about the story of Jesus and the story of the Bible, like the way God tells stories. I just want, I want to retell the stories, and I want to retell them in a way. Way that children can enjoy, that kind of provides some extra little details that they can grasp onto, and then makes the stories come alive regarding their faith and regarding how they think about money. Shane, this is powerful.
Folks, go to wholeheartfinances.com. There's a free activity book that pairs with the podcast, complete with badges and a certificate of completion. Each badge connects to a money topic like giving, saving, or contentment. It's all there. Wholeheartfinances.com.
Shane, thanks for being here. Thanks so much for having me. That's Dr. Shane Ened, Associate Professor of Finance at Biola University. Again, you can learn more about the Money Storybook Bible podcast at wholeheartfinances.com.
I was in ministry full time and I was always looking for a way to integrate my faith with this new industry around money and finances. This is Mark. He is a Certified Kingdom Advisor. As a CKA, one of the best things I offer my clients is trust in knowing that they're working with a professional that understands their values. And I think in all of the different challenges that clients go through, if we can go back to trusting in God, then He'll make the path straight.
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Again, that's 800-525-7000. If you've got a question today, something going on in your financial life, we'd love to hear from you. Be able to take that question and see if we can help you wrestle it through the lens of biblical wisdom. Again, that number 800-525-7000. Let's see.
We're going to head to Ohio, Raquel. Go ahead. Hi, um So a few months ago, I was diagnosed with a terminal illness. I am the guardian of my four year old grandson. I have one hundred thousand dollars in a life insurance policy.
Um took fifteen thousand dollars in um a retirement and I also have twenty thousand dollars in savings. I want to set up a trust for my grandson and also. Um something like some investments. Unfortunately, I didn't know I was going to get sleep, so I didn't get a chance to really get all the life insurance that I wanted or do it money investment.
So I'm just asking where how what how do I set up um a trust and investments and stuff going forward so in the future you You know, I don't know what God has in store for me, but in the future, you know, if I pass away, so he'll be okay. Yeah.
Oh, Raquel. What a tender question. I appreciate you asking, and I'm so sorry to hear about the diagnosis. We're going to trust the Lord for that. He is the great physician, and let's make that a matter of prayer.
But I certainly appreciate your question. And, Raquel, what I would say is: you know, the first thing to do is to set up a will and a trust.
So, you're going to want to meet with an estate planning attorney right away. They can help you do two things. Number one is draft that will because that really names the guardian.
So, this is who will raise the child if, for some reason, you passed away before adulthood. And then, second, create what's called a revocable living trust. Inside the will that will hold the money and the investments for the benefit. Of the child.
So you'll appoint a trustee, someone you trust, to manage the funds, and then you'll decide at what age the child can access the money.
So, for example, you know, you could say for education or at age 25 or as needed, whatever it is. And then the trust will ensure that the money is protected, invested wisely by the trustee, and then used only for the child's needs, not handed over to the child all at once at age 18. And then the second step, once you have the trust and the will in place, is to direct the assets into the trust.
So you need to make sure the trust is the beneficiary of the life insurance, retirement accounts. Your $20,000 in savings. That way, when you pass, those funds go directly in the trust, not into the child's name. And then the third step would be to select the right investments inside the trust. And that's going to be for the trustee to determine, or for you, while you're living.
But I would put it in really well-diversified investments, possibly CDs, but also maybe some stock indexes and some bonds, so that you've got a relatively conservative portfolio where you're looking with a balanced portfolio of stocks and bonds. You're looking for not 9%, 10% a year, you're looking for 5% to 7% a year. But you have it available if needed to fund his expenses. And then you want to keep everything updated along the way.
So, those are really the next steps from my point of view.
Okay.
So is that with the person that I leave guardianship to of my minor child, would they also have access to the trust? Or do I have to name them as beneficiary? Or? Yeah.
It's a good question.
So it would really be up to you. I mean, the main thing for the guardian. Is that they're taking care of the child's daily life, housing, school, health, upbringing. I mean, they have custody of the child, but not necessarily of the child's money.
So, you know, it's often better if these are not, if the guardian and the trustee are different because they serve in different roles.
So the trustee is the one, and again, it may not be the guardian, and I would recommend probably that it's not, that manages the money and the investments in the trust and then uses those funds for the child's benefit and follows the written instructions in the trust document. But it's good to separate them because it provides, first of all, checks and balances because the guardian requests the funds, but the trustee ensures they're used as intended. And it protects the money because it prevents even accidental misuse or overspending. And it provides some clarity because you know they both know their responsibilities and can work together for the child's good.
So I would say the guardian is someone, of course, extremely trustworthy and financially wise. But I would encourage you to have a separate trustee to manage the money.
Okay, thank you. Thank you so much. Yeah, you're welcome. Lord bless you, Raquel. We'll certainly be praying for you.
And if I can help further along the way, please don't hesitate to reach out. Lord bless you. Let's go to North Carolina. Hi, Rita. Go ahead.
Hi, Rob. Much appreciated. Wondering, I've been seeing ads lately. warning people, oh, someone's gonna try and steal your Title for your house.
Somebody's going to try and steal the title for your land. You need this special insurance. Do you think that's really a thing? It is, but it doesn't happen as often as those ads would lead you to believe. It is very rare.
It's called deed fraud or home title theft. And it happens when a criminal steals someone's personal information, then forges their signature and records a fake deed at the county office. And basically, they're trying to claim ownership, or in most cases, they're trying to take out a loan against the property that they have no intention of repaying. It's more likely to target vacant homes or rental properties or elderly homeowners who may not notice the paperwork. But the key point is that stealing your title doesn't actually mean they own your home.
Your legal ownership doesn't disappear just because someone files fraudulent paperwork, but it's a mess to untangle.
So, what about those title and theft insurance ads?
Well, they advertise heavily, they promise to quote lock your title, but really they're monitoring services, not true insurance.
So, they'll notify you if something changes on your title, but they don't prevent fraud. And generally they don't pay any legal costs to fix it.
So, you know, you can do much of what they do for free by You know, checking your property records periodically at your county recorder's website. I would set up, you know, what many counties now offer, which is free alerts. They call them property fraud alerts.
So I would check with your county records office and see if your county has that. But that would alert you free if anything changed and you could step in and deal with it right away before it becomes an issue. And then you just want to use generally good practices to protect your identity and your credit, which means, you know, check your credit report, don't click on links, don't give out information to people who call you, things like that. But I think at the end of the day, although it may give you some peace of mind, this is really an alert system, not insurance, and I don't think it's necessary. Wonderful.
Thank you. I knew you'd have the answer. You're the best. Thank you. That's very kind of you.
Hey, Lord bless you, Rita. You're very sweet. Call anytime. Folks, that's going to do it for us. A big thanks to my team today: Jim Henry, Devin Patrick.
We're also grateful for Pat as well as Adam, who work as a team to handle our phones. You have a great day and come back and join us tomorrow. We'll see you then. Bye-bye. Faith in Finance is provided by FaithFi and listeners like you.
