Rusty Kelley, Christian Financial Managment

With all the turmoil in today’s financial markets, crashes in the stock market, layoffs in corporate America and pain every time we fill up our cars at the gas station, the topic of financial management comes up more often than usual these days. While the name of the game for those deemed “successful” over the last few years has been aggressive investing and speculation, the person who holds esteem today is the one who conservatively saved for times such as these.

Through it all though, the most common theme I hear through these conversations is a goal of financial independence. It seems like the true American goal : to build up enough money or a secure enough income source that if all else failed, you would still be able to meet your needs, (and hopefully most of your wants). The whole idea of retirement is based on this principle. But is the ideal of “financial independence” even biblical? Clearly we see principles of wise savings from Proverbs, but we’re also warned in Jesus’ parables of the dangers of idolatry and hoarding of wealth to bring security.

Mark Upton, a Contributor to this blog posted a response to one of my last pieces that wisely noted, “I think one of the primary ‘things of ourselves’ that American Christians chase after is financial independence. In fact, most of the books on Christian financial principles in print assume that this is the goal of Christian finance. However, countless verses in the New Testament make it clear that this isn't a Biblical value.” Mark went on to discuss the value of mutual dependence in Christ, a well noted but mostly overlooked principle. 

And though financial discussions in Christian circles usually decry the dangers of idolatry of one’s worth, independence or the love of money itself, we must recognize that savings, investment, and financial management is a daily, and very important aspect of all of our lives, one in which God has given each one of us responsibility in different magnitudes. This becomes particularly apparent once you support a family.

So what does the biblical model of financial management look like? Several questions could arise:

-How much is too much to save before you "hoard" instead of prudently providing for your family (clearly standards of living can differ greatly)

-When to give and when to invest for future giving or for future opportunities

-If all money is God’s money that we just manage, is it right to spend anything on any but our basic necessities when others are in want?

-Is a comfortable lifestyle for ones family mismanagement on a husband or wife’s part?

-How does God view the responsibilities of managing ones wealth over time?

-How does God view the responsibilities of those who have been blessed with just enough to get by?

-How does God view money versus other blessings that he has given us to manage?

These are not easy questions, but they are also not questions that we typically discuss since discussing money has become a very private matter, and considered rude to discuss in groups.

So I would like to open the discussion up to folks here and ask two honest questions:

What does biblical financial management look like?

How far from the biblical model have we strayed as a result of our cultural norms?

Comments

[Joanna Cook]

Thanks for posting this. These are some of the tough questions I've been wrestling with lately as my income has risen well beyond what I need for myself, a single female. I am trying to seek God's will on what to do with the extra money I have -- do I continue to build my emergency fund, save for future purchases (the next car, home maintenance), invest more, increase my tithing above 10%, etc. I do believe we should save progressively for retirement so that we are not a financial burden on family or the state. But what is "enough" when saving for retirement?

[Judy Nelson]

Thanks, Rusty. I always enjoy your posts. A great resource is generousgiving.com. I often think that there are so few of us who give to the cause of the Kingdom, that my giving should be extravagant and fun. This site has helped shaped my thinking.

[Heather]

As with many things, God looks at the heart. I think financial independence becomes counter-biblical when it becomes a means of trying to control our futures - trying to plan for every contingency and not relying on God. I have a former co-worker who advised me to take some "precautions" as he called them in case say another Katrina happened or something. He advised me to always have some cash on hand because in a disaster the ATMs might not work and how was I going to bribe someone with a car to take me out of the city instead of waiting for the buses. I had to think of my family - it wasn't just for myself. This individual also never flies with his wife because if a plane went down then one of them would be left to handle the finances (the couple does not have any children). This is an example where I think financial independence goes too far. I believe that we shouldn't live in fear and for the extremely unlikely cases, we should have an expectation of relying on family, the Church particularly, and the community. This person would say I was naive to think that other people will help. While I don't deny the existence of evil motives, I take comfort in the fact that I believe in a God who will use his people to help those in need and who will be glorified through every situation.

[Mark Upton]

Rusty,
Glad to hear I inspired some thought.
I'm on sabbatical with a spotty internet connection so I'll only respond briefly. Any interaction on this topic should include interaction with 1 Timothy 5:8 and 2 Corinthians 8:14.

And of course Heather and Judy are right. Delighted giving from the heart full of faith in God's ability to provide for you in the future is the key.

[Alex]

Awesome questions. I do not know the answers. On the one hand, I am pro-saving, investing, and even luxury. I see the positives of each. On the other hand, I cannot get away from thinking the math of eternity makes all those things overrated. Why strive to be rich now when what matters more is being rich for 10 trillion years? I am not sure how that fits in.

Personally, I want to be filthy rich. I see no point in denying that. But being loaded for 60 years seems to pale in comparison to being loaded for a billion years. That is what I struggle knowing how to balance.

[Mark Upton]

The other factor in your loaded for a billion years question is one of currency. In a fallen world currency is power. In the kingdom of God currency is relationships. That's why Jesus tells us in Luke 16 that those of us who have worldly wealth ought to spend it acquiring relationships so that we can be rich in the Kingdom of God. In some sense if you want to be rich in a billion years then you can't be rich now. This is what cost the rich young ruler the kingdom. He wasn't willing to give up riches now for riches later.

[Alex]

Great points. Thanks. You and Rusty had great thoughts.

[Simon]

Interesting post. I would like to point out that for many people, "financial independence" is not about future security or a comfortable retirement. Instead, it's about not having to work and having the time to do more things that you truly want to do.

[Simon]

Interesting post. I would like to point out that for many people, "financial independence" is not about future security or a comfortable retirement. Instead, it's about not having to work and having the time to do more things that you truly want to do.