Remember when you learned to drive? You had to concentrate constantly on your steering, the foot pressure on the accelerator, and how much pressure to apply when breaking while constantly scanning your mirrors. It took intense focus, and having a drivers-ed teacher, or worse, a parent continually watching and judging your performance, it's a miracle you got through it! *But you did get through it.* After years of learning and gaining experience, you've developed a routine, *a habit,* that makes driving easy. The same can be true about developing good money habits.

Most of the things you do are subconscious actions done out of habit. Eating, brushing teeth, and many parts of your job are just a few examples of habits driving your behavior. __How we manage our money is also driven by good and bad habits,__ and that's why developing good money habits and discarding the bad ones is essential.

Habits form over time. When we engage in a repeat activity, we develop a pattern, a series of thoughts and behaviors that increase our ability to do that activity over and over again more quickly and efficiently.

Our emotions are a crucial part of any habit.__Humans gravitate toward anything that gives us pleasure and avoids anything that causes us pain. *This reality drives much of your spending.* __Don't believe me? Remember the last time you bought something you *really* wanted? How did you feel? It felt incredible, right? How about when you got an unexpected bill in the mail? Remember that feeling? Yeah, me too! Not my best moment.

__God's financial principles contain the wisdom to grow and maintain wealth.__ Looking at the four money habits the wealthy consistently engage in, which lead to their success, you will find that they align with God's principles. They are:

1. They spend less than they earn - Proverbs 21:20
2. They avoid taking on debt on depreciating items - Proverbs 22:7; 22:26
3. They save for future needs - Proverbs 6:6-8
4. They invest to grow their wealth - Ecclesiastes 11:2

It's important to note that most wealthy people in America didn't start out that way. __Most millionaires today are self-made, first-generation millionaires.__ A significant factor in their success is the consistent practice of these four money habits __before__ they were wealthy. There's nothing special about these people. They don't possess supernatural abilities or have some secret knowledge that the rest of us can't get. *They simply learned or developed good money habits over time, and so can you.*

Now, if you think being wealthy or pursuing financial growth is somehow unspiritual, let me tell you, it's not. God provides every ministry opportunity and the resources to get it done. Sometimes, taking care of needs requires money. The problem is that God's people often spend the money on themselves before God can steer it to his purpose.

__The Good Samaritan (Luke 10:25-37) is an excellent example of someone who had the compassion to help someone in need and the means (bandages, oil, wine, a donkey, and money) to get it done.__ Wealth in the hands of a good steward who is fully committed to God will accomplish much good in the world.

It is God’s desire that we join Him in the good work he is doing in our communities and throughout the world. To join God in this work, you have to be a good steward of the resource God has put into your hands, and developing good money habits will help you become that faithful steward.

__5 Keys to developing good money habits__

__1. BECOME AWARE__

You may have heard the phrase, "knowledge is power," but that's not entirely accurate. __Knowledge itself is not power; it's applied knowledge that's powerful.__ You must become fully aware of where your money is going, and knowing what you're making and spending is the first step to financial well-being.

The simplest way to do this is to track every expense. You don't need a fancy app, computer software, or a spreadsheet; pen and paper will do. __Tracking expenses is foundational to getting your finances under control and maintaining and growing your wealth.__

__2. UNDERSTAND YOUR TRIGGERS__

What triggers your spending? It's important to know where you're overspending money because it will lead you to discover what motivates your spending. __Much of our spending is triggered by our wants and desires rather than what we need.__ Having a financial plan (a budget) is a great way to define needs and wants ahead of time so you can combat the emotional triggers that cause overspending.

__3. DETERMINE YOUR RESPONSE__

Decide ahead of time how you will respond when you have the desire to spend. __The best way to control spending and manage money successfully is to have and live by a written budget.__ The budget will guide your spending, helping you stay in control and make the right decisions.

__4. BUILD ROUTINES__

Routines form habits. Every routine you implement, like recording every expense and saving before spending, will help you develop money habits that will help you reach your financial goals. __Without these routines, your financial decisions will be at the whim of your wants and desires.__

__5. REPEAT, REPEAT, REPEAT__

You learned to drive because you kept doing it until it became easy. Over time you got better at driving and had to think less and less of the specific individual functions you had to perform while driving. The same is true in developing good money habits.

Right now, it may seem daunting to manage your money and build good money habits. You'll need to focus, exercise discipline, persevere and overcome the desire to quit until you've gained the mastery to do it with ease. __Everyone has to go through this process to develop the financial habits that lead to financial health, and so can you.__

__Conclusion__

Understanding Biblical financial principles is key to being a good steward, but knowing them isn't enough. __It isn't enough to know the benefits of saving, investing, and spending less than you earn; you have to practice these to experience the benefits.__ It's the practice part that we tend to struggle with and why developing good financial habits is necessary for achieving financial health and growing wealth to be used for godly purposes.

([image](https://www.christianstewardshipnetwork.com/blog/2022/8/18/5-keys-to-developing-good-money-habits) used with permission)

We teach church leaders the biblical perspective on finances.

Christian Stewardship Network

Blog

To join God in this work, you have to be a good steward of the resource God has put into your hands.

5 Keys To Developing Good Money Habits

__As a pastor, I love taking God’s Word and breaking it down for my church family. To take a biblical text, expound on it, and then provide modern application is one of the greatest blessings of ministry. While all Scripture is God-breathed and useful (2 Tim. 3:16), the four Gospels provide a treasure trove of Jesus’s teachings that are perfectly practical and relevant to daily living.__

The teachings of Jesus provide numerous real-life examples of living with generosity. But in an encounter (Luke 7:36-50) between Jesus, Simon the Pharisee, and a sinful woman, we learn that generosity involves more than finances.

Here are three lessons we can learn as we review the conversation between Jesus and Simon and the example of the sinful woman’s generosity.

__The pharisee’s generosity was limited by his heart condition__

When a visiting rabbi entered a village to teach, the common practice was for one of the influential synagogue members to invite the rabbi over for a post-service meal. Jesus reclined at the table, perhaps physically exhausted after teaching God’s Word in the synagogue. I’ve enjoyed the modern equivalent of this tradition many times, as the traditional meal for feeding a Baptist pastor always includes good fried chicken!

Simon extended hospitality to Jesus by inviting Him over for lunch. But, as verses 44-46 demonstrate, Simon failed to show true generosity to Jesus according to the customs of the day. His generosity had limits. He was willing to go through the formal motions of doing the right thing, but his heart clearly wasn’t in it.

How often do we grudgingly do the right thing? Whether we’re following processes at work that we don’t agree, or whether its our kids following the rules only because they have no other choice. Or what about when the offering plate is passed at church, and we know we have to give something, but our hearts are as tight as our wallets when we put the money in the plate?

The Pharisee’s generosity was limited by his heart condition. Though his culture required him to show a level of generosity to Jesus, his heart would not allow him to go the extra mile and give cheerfully. His hardheartedness was tragic, because the cheerful giver is one whom God loves to bless (2 Cor. 9:6-7).

__The woman’s generosity was evident in her worship__

Luke spared no hesitation in describing the woman as a sinner. She was an undesirable who would never have been welcome in the home of a well-respected Pharisee. Simon must have been mortified to find that kind of woman in his home. Worse than her presence were her actions. She took down her hair (a major social taboo), opened an expensive box of ointment, and openly anointed Jesus’s feet in front of the whole group. The ointment alone would have cost nearly a year’s wages for a day laborer. She never spoke, but her tears flowed as she poured out her heart in extravagant worship.

The Lord does not need the money in your wallet or purse. He owns the cattle on a thousand hills (Psalm 50:10-12). As He told His people through Haggai the prophet, both the silver and the gold are His (Haggai 2:8). He does not call His people to give of their financial resources because He needs their money. Rather, He calls His people to obedience and to worship. How deserving is God of our worship? How much of our lives should He possess?

*He does not call His people to give of their financial resources because He needs their money. Rather, He calls His people to obedience and to worship.*

The woman’s worship overflowed with generosity. She never asked, “How much should I give to stay off God’s bad side?” Instead, there were no limits to her love for God and there were no limits to the extravagance of her worship.

__Jesus is generous with forgiveness to all who ask in faith__

When Simon the Pharisee questioned Jesus inwardly (Luke 7:39), Jesus read Simon’s thoughts and told him a parable. Two men faced a debt they could not pay. The lender forgave them both. Jesus’s question in v. 42 should have caused Simon instant conviction over his own sinfulness. While he was busy condemning the sinful woman (and silently questioning Jesus’s wisdom), he had failed the basic test of hospitality expected in 1st century Jewish culture. Who was the greater sinner, the woman who worshiped Jesus extravagantly, or the man who refused to show generosity in worship?

Jesus continued the exchange by openly forgiving the woman’s sins in front of the household. This bold assertion of deity got everyone’s attention, but for us, the ultimate lesson of generosity that Luke 7 provides centers on the generosity of God. For all who come to Him in humility and worship, seeking His mercy and forgiveness, He extends generous love and grace.

The most haunting sentence in the whole passage is found in verse 47. *He who is forgiven little, loves little.*

What about the reverse of that statement? If we love little, is that an indication that our hearts do not truly belong to God? In his later years, the apostle John emphasized the impact God’s love should have on a follower of Jesus.

He wrote:

*By this we know love, that he laid down his life for us, and we ought to lay down our lives for the brothers. But if anyone has the world's goods and sees his brother in need, yet closes his heart against him, how does God's love abide in him? Little children, let us not love in word or talk but in deed and in truth.* (1 John 3:16-17, ESV)

__May we learn from the sinful woman and worship Jesus generously, in word, deed, and truth. May we embrace the forgiveness He offers, worship Him extravagantly, and demonstrate godly generosity in every aspect of our lives!__

__*[Image](https://www.christianmoneysolutions.com/post/what-we-can-learn-from-the-sinful-woman-s-generosity)*__ used with permission

You were meant for more. Your money was meant for more. You and your money are meant for an exciting, adventurous, and satisfying purpose. You were designed to live and give generously. And deep inside you know this and want this.

Christian Money Solutions

Generosity

May we learn from the sinful woman and worship Jesus generously, in word, deed, and truth.

What We Can Learn from the Sinful Woman’s Generosity

Since 1990, do-it-yourself Christian investors have relied on SMI for proven strategies and trustworthy guidance.

Sound Mind Investing

Investing

A second Trump administration appears poised to bring big changes that will likely determine the economic outcomes.

Trump 2.0: Using Objective Investing Models to Guide Us Through Anticipated Disruption

__As a financial counselor, I have the privilege of working with a diverse group of families and businesses, each with their own unique circumstances and backgrounds. It's clear to me that every client comes with their own blend of personality traits and money stories that shape their approach to money management. However, amidst this rich variety, there are several common challenges that financial counseling clients face on their financial journeys.__

Here are four common financial challenges that I have found working with clients and their businesses. Maybe you can relate.

__1. Credit cards are being used as an emergency fund.__

A common indicator of a struggling family or business is a lack of cash reserves. Consequently, credit cards often become a makeshift emergency fund to manage unexpected expenses. Unfortunately, when emergencies do arise (and they will), individuals often exacerbate their financial troubles by accruing even more debt.

An effective debt elimination strategy involves safeguarding yourself against the risk of additional debt. This means maintaining some cash on hand to address unforeseen expenses while you remain focused on becoming debt-free. Even if you come across promotions offering 0% interest for 12 or 18 months, it’s generally wiser to pay in cash and avoid the stress that comes from carrying a credit balance.

__2. Student loans are a very serious problem.__

Recent data indicates that families are burdened with an average of over $30,000 in student loan debt. While it's not surprising for financial counselors to encounter clients with substantial student loans, the scale of this issue is even more severe than I had anticipated. Unfortunately, the only viable solution is to actually repay these loans, as student debt is one of the few financial obligations that cannot be discharged through bankruptcy.

If you are contemplating pursuing education after high school, it's essential to do your homework and establish a budget that aligns with what you can afford. After submitting your Free Application for Federal Student Aid (FAFSA), take a close look at the details of your college's financial aid offer. Although the term "award" might suggest the college is offering you "free" money, most financial aid packages typically consist of a combination of grants, scholarships, and, yes, loans.

__3. Poor tax planning leads to large tax bills.__

I understand that many people prefer not to dwell on taxes and may even dread the filing process. However, it's concerning the number of clients who have paid professionals to prepare their taxes but have received poor advice. This has caused clients to owe thousands of dollars on their state and federal taxes year after year. Whether you're filing income taxes or seeking assistance in structuring your small business in a tax-efficient manner, obtaining sound advice is invaluable.

As you begin your tax planning, consider your own withholding situation. Did you end up owing money to the IRS, or did you receive a refund? When was the last time you adjusted your IRS Form W-4? If you are a contract employee (1099) or a small business owner, are you estimating your taxes and making timely payments to the IRS? For trustworthy tax guidance and reliable Christian financial advice, I highly recommend consulting with a Certified Kingdom Advisor (CKA).

__4. Pets consume more than food and water, they consume financial margin.__

The American dream feels incomplete without both a dog and a cat. Nothing brings more consistent joy to a home than the warm greetings from our furry friends at the door, complete with their unwavering smiles. Our clients often feel the same way—their pets are integral members of their families. But the costs associated with owning a pet have become increasingly significant. From annual vaccinations and flea treatments to heart medications, kennel vaccines, specialized foods, beds, toys, and the wear and tear on home and yard, the financial demands are considerable. Pets can easily consume every last bit of financial margin.

As a counselor, discussing pet ownership presents a unique challenge. But pet ownership must be carefully assessed in terms of priorities and affordability. While a $99 adoption fee at a local pet store may seem appealing, the lifelong expenses of caring for a pet can far surpass those of owning a car. If you're a family facing significant debt and struggling to make ends meet, pet ownership may not be a viable option. It’s essential to consider pets within the context of your overall financial well-being and prioritize accordingly.

__Our objective in financial counseling is to assist clients in overcoming their financial obstacles. While the setbacks and financial difficulties might feel unique to your situation, it is likely that others have faced similar obstacles. Reach out to a trusted financial counselor today, and see how you can overcome those obstacles one step at a time. A great place to start is a [CERTCFC® counselor.](https://www.faithfi.com/findcertcfc) You can locate one  in your area at [FaithFi.com](https://www.faithfi.com/findcertcfc). 

__[Image](https://www.christianmoneysolutions.com/blog/4-common-challenges-financial-counseling-clients-face)__ used with permission

Savings

It's clear to me that every client comes with their own blend of personality traits and money stories.

4 Common Financial Pitfalls and How To Overcome Them

***“Precious treasure and oil are in a wise man's dwelling, but a foolish man devours it.” - Proverbs 21:20***

This simple yet profound verse from Proverbs reminds us of the importance of living below our means and saving for the future. But how do we do that? One key tool is having a budget. Let’s dive into the numbers, address common misconceptions, and explore how the [FaithFi app](https://www.faithfi.com/manage) can help you achieve financial stability with biblical principles.

A recent survey by [NerdWallet](https://www.nerdwallet.com/article/finance/data-2023-budgeting-report) offers insight into budgeting habits in America:


- **The Good News:** 75% of Americans aged 18 and up report having a monthly budget.
- **The Bad News:** 84% of those same individuals admit to overspending their budgets occasionally.

Even more concerning, 44% of overspenders turn to credit cards to cover the gap, while the remaining 56% likely dip into savings. Without a proper budgeting system, overspending can easily lead to debt and financial instability once savings are depleted.

**Common Excuses for Not Budgeting**

At [FaithFi](https://www.faithfi.com/), we’ve heard a lot of reasons why people resist budgeting. Here are some of the most common excuses:


1. ***“It takes too much time.”***
2. ***“It’s too difficult; I’m no good at math.”***
3. ***“I never stick with it.”***
4. ***“I don’t need to budget.”***
5. ***“It limits me.”***

These are valid concerns, but they’re often rooted in misconceptions.

**Debunking Budgeting Myths**

Let’s break down the common misconceptions about budgeting:


- *“A budget is just about cutting expenses.”*

Not true! Budgeting is about prioritizing your spending, ensuring your money goes to what matters most.
- *“A budget is too rigid.”*

While structure is important, budgets are flexible tools. Adjustments are part of the process!
- *“I make enough money; I don’t need a budget.”*

Budgeting isn’t about income levels—it’s about making wise financial decisions.
- *“Only people with financial trouble need a budget.”*

Budgets help prevent financial trouble by ensuring you live within your means.
- *“My income varies, so I can’t budget.”*

You can! Calculate your average monthly income based on 6–12 months of earnings. Save during high-income months to cover leaner periods. Check out [our episode on this topic](https://www.faithfi.com/faithfi/variable-income-budgeting-7216) for a deeper dive and more insights!

**Steward Your Resources With The FaithFi App**

If you’re ready to create a spending plan but need guidance, the [FaithFi app](https://www.faithfi.com/manage) is here to help. Unlike other budgeting tools, [FaithFi](https://www.faithfi.com/manage) offers unique features to make managing your finances intentional and faith-centered:

- **Tailored to Your Needs**: Choose from three different money management styles that best suit your situation.
- **Helps You Build Rhythms**: The app encourages daily check-ins or weekly reviews to develop consistent financial habits.
- **Faith-Centered Approach**: Beyond tracking your spending, FaithFi integrates biblical wisdom and a supportive community to help you grow in your walk with God while stewarding your resources for His glory.

**Don’t let excuses or misconceptions hold you back. A budget is a powerful tool for financial freedom and biblical stewardship. Download the [FaithFi app](https://www.faithfi.com/manage) today to create your spending plan, grow in wisdom, and honor God with your finances.**

You can also **[listen](https://www.faithfi.com/search?q=Who%20Needs%20a%20Budget?%20with%20Chad%20Clark&videos=true&articles=true&podcasts=true&posts=true&groups=true&events=true&support=true)** to a related podcast on this topic.

FaithFi

Articles

Don’t let excuses or misconceptions hold you back. A budget is a powerful tool for freedom and biblical stewardship.

Who Needs A Budget?

__Were you to survey married couples about their money-management goals, most answers would focus on some form of financial success. Most people strive to accumulate better houses, nicer cars, more toys, and bigger retirement accounts. But when it comes to the dream of financial prosperity and security, we should ask, “Whose dream is it?” It may be the American dream—but is it the dream of the risen Jesus? And since what glorifies him is also for our good, is it a dream that’s ultimately in the best interests of our family?__

The process of discovering God’s countercultural will about money and possessions can both excite and liberate. For my late wife, Nanci, and me, our growth in financial stewardship paralleled our spiritual growth. In fact, it propelled it. We learned about faith, grace, commitment, generosity, and God’s provision. We had challenging giving discussions that ultimately strengthened our marriage and bonded us around the common goal of investing in eternity.

Using the word *makarios*, which means “happy-making,” Jesus said, “There is more happiness in giving than in receiving” ([Acts 20:35](https://ref.ly/Acts%2020.35;esv?t=biblia) GNT). Nanci and I found that happiness, not duty, permeates a God-honoring theology of money. When grace-saturated, kingdom-minded disciples use God’s money and possessions, we fulfill the first and second greatest commandments. We store up treasures in heaven and “take hold of that which is truly life” ([1 Timothy 6:19](https://ref.ly/1%20Tim%206.19;esv?t=biblia)).

The following principles can help you and your spouse develop a lifestyle of good stewardship that will yield dividends, now and *forever*.

__1. Recognize the dangers of a possessions-centered life.__

Although there is nothing inherently wrong with money, something is desperately wrong with *devotion* to money. “Those who desire to be rich fall into temptation, into a snare. . . . For the love of money is a root of all kinds of evils” ([1 Timothy 6:9–10](https://ref.ly/1%20Tim%206.9%E2%80%9310;esv?t=biblia)).

Understanding the dangers of materialism can liberate us to experience the joys of Christ-centered stewardship. Jesus speaks of the “deceitfulness of riches” ([Mark 4:19](https://ref.ly/Mark%204.19;esv?t=biblia)). The psalmist warns, “Though your riches increase, do not set your heart on them” ([Psalm 62:10 NIV](https://ref.ly/Ps%2062.10;niv?t=biblia)). None of us is immune to the value-changing nature of wealth.

Things have mass, mass exerts gravity, and gravity holds us in orbit around the things we accumulate. A friend told me that when he and his wife were first married, they spent their time taking walks, playing games, and reading together. They were content. Later, as their income rose, they found themselves trapped by shifting priorities. Little by little, money and possessions took precedence over God, church, and meaningful time together.

Studies and anecdotal evidence have shown a connection between an increase in income and marital infidelity, since having access to more money can provide greater temptation and opportunity to sin. Of course, the point is not the income itself, but the lifestyle it underwrites. A Christian can make a million dollars a year, give generously, live modestly, and avoid much of that added temptation to immorality. It is not how much we make that matters. It is how much we keep.

How can we recognize if we are falling into materialism’s trap? “Where your treasure is, there your heart will be also” ([Matthew 6:21](https://ref.ly/Matt%206.21;esv?t=biblia)). Jesus is saying, “Show me your bank statement, your credit card statement, and your receipts, and I’ll show you where your heart is.” What we do with our money is an inarguable statement of our values.

God declares, “Whatever is under the whole heaven is mine” ([Job 41:11](https://ref.ly/Job%2041.11;esv?t=biblia)). God’s ownership of everything provides the foundation of a biblical theology of money* and* the antidote to materialism. Acutely aware of the fact that what we have is God’s and not ours, faithful money-managing stewards regularly consult him to implement his biblical investment priorities.

__2. Make generous giving a priority.__

I encourage you to commit to giving regularly to your local church and, above and beyond that, to missions and other ministries. Begin by setting an amount to give — I recommend not less than 10 percent — and stick with it so you honor God with your firstfruits ([Proverbs 3:9](https://ref.ly/Prov%203.9;esv?t=biblia)). If you want him to bless your family’s finances, don’t place yourself under the curse of disobedience.

As thunder follows lightning, giving follows grace ([2 Corinthians 8:1–2](https://ref.ly/2%20Cor%208.1%E2%80%932;esv?t=biblia)). If God’s grace touches you, you can’t help but give generously! Then, when God entrusts you with more, remind yourselves why: “So that you can be generous on every occasion” ([2 Corinthians 9:11 NIV](https://ref.ly/2%20Cor%209.11;niv?t=biblia)). (Contrary to the health-and-wealth gospel, God prospers us not to raise our standard of living, but to raise our standard of giving.)

If you have not been in the habit of giving, it can be challenging to begin. However, I ask people, “If you got a 10 percent pay cut, would you die?” Of course not! God is big enough to take care of you if you step out in faith and return to him what is his in the first place. (Even though I think in most cases people really can afford to give away ten percent, obviously if you believe it is impossible for you to do so or your children would go hungry if you did, then by all means feed your family and God will be pleased if you do. I am just encouraging you to take an honest look at whether you are spending money on non-necessities that you could have given away without inflicting suffering on your family.)

What if you and your spouse are not on the same page about giving? I learned over the years that my desire to give sacrificially could sometimes feel insensitive to Nanci. When I learned to be more generous with her (and our daughters), Nanci no longer felt that giving to kingdom causes competed with our family’s needs. Through many conversations, she learned to find increasing joy in giving, and I learned to find increasing joy in growing together and leading—but not pushing or pulling. We were holding hands, even if sometimes one of us was a step ahead. (As the years went by, the one ahead was increasingly her.)

Of course, God wants us to do many good things with money that do not involve giving. We must provide for our family’s basic material needs, for example ([1 Timothy 5:8](https://ref.ly/1%20Tim%205.8;esv?t=biblia)). But these good things are only a beginning. The money God entrusts to us is eternal investment capital. Every day is an opportunity to buy up more shares in his kingdom!

__3. Set a budget so you can spend and save wisely.__

Since the long-term consequences are severe when a couple disagrees about money, I can’t stress enough the importance of discussing financial matters. Start by making a careful record of spending so you can find out where your money is currently going. Then determine where it *should* be going. This will become the basis for your budget. (When I was a pastor, I met with families who followed a budget and did fine on a meager income. I met with others who made much more and were regularly in financial crisis.)

For some, the most practical way to budget is the envelope system. When paychecks are cashed, the cash goes into envelopes designated for giving, housing, food, gas, utilities, entertainment, clothing, saving, and so on. If nothing is left in the entertainment envelope halfway through the month, no more movies or eating out. If we overspend in one area, we must underspend elsewhere to compensate. The envelope system may seem antiquated, but it teaches us that resources are limited, which is an invaluable lesson.

What is the right balance between how much we give, use for needs and wants, and save? I believe the tension reflected in that question is healthy. We can prayerfully seek God’s guidance, determined to follow his lead as best as we can discern it.

Jesus tells us, “Seek first his kingdom and his righteousness, and all these things [what you eat, drink, and wear] will be given to you” ([Matthew 6:33 NIV](https://ref.ly/Matt%206.33;niv?t=biblia)). Unlike the pagans who “run after all these things” and “worry about tomorrow,” believers can trust God ([Matthew 6:25–34](https://ref.ly/Matt%206.25%E2%80%9334;esv?t=biblia)). If we believe that God can create us, redeem us, and bring us through death to spend eternity with him, we can take him at his word when he says he will provide for our material needs.

__4. Avoid debt, except in rare instances.__

The choice to live under debt (except in manageable amounts, such as with a mortgage payment well within your means) is ultimately deadening to the soul and to a marriage. It is always unwise to live above your income. It will invariably produce conflict in your marriage.

Trust means believing God will take care of our needs. When we go into debt, however, we usually do so to obtain wants, not needs. So the Bible cautions us against debt. The ESV translates the beginning of [Romans 13:8](https://ref.ly/Rom%2013.8;esv?t=biblia), “Owe no one anything.” This would appear to prohibit debt. The NIV reads, “Let no debt remain outstanding.” This would allow debt, if paid off as soon as possible.

Not all debt is the same, however. I’m sympathetic to those in situations where, after prayer and evaluation, debt seems the only alternative. In such cases, nothing is wiser than giving first to God, cutting back expenditures, and systematically paying off debt as aggressively as possible.

Some consider mortgages an exception to avoiding debt, and a case can be made for borrowing to buy a reasonably priced house instead of renting. Unfortunately, many aspiring homeowners buy a house outside their budget. A couple I know assumed a large mortgage that depended on both of their incomes. When the wife became pregnant, they realized that to keep the house, they would have to violate their convictions against leaving their child in a day-care center while the mother worked.

What about credit cards? Some use them for convenience, paying off the amount owed on every statement to avoid interest. Nanci and I did this. This approach has advantages, but it also has drawbacks. The very convenience of having a credit card is often a liability—and constitutes temptation. Here are some prudent guidelines:

- Never use credit cards for anything except budgeted purchases.
- Pay off your credit cards every month.
- The first month you have a credit card bill you cannot pay in full, destroy the card, pay it off, and don’t get another one.
#### 
__5. Enjoy life to God’s glory.__

As believers in a materialistic culture, we should embrace lifestyles that free up money to further the progress of the gospel. And yet, the answer is not asceticism, believing that money and possessions are inherently evil. Our God is a lavish giver ([Romans 8:32](https://ref.ly/Rom%208.32;esv?t=biblia)). He provides pleasures and comforts he desires us to enjoy: “So, whether you eat or drink, or whatever you do, do all to the glory of God” ([1 Corinthians 10:31](https://ref.ly/1%20Cor%2010.31;esv?t=biblia)).

Over the years, Nanci and I spent reasonable amounts of money on vacations that served to renew us. Even when our girls were small, we would have a date night, believing one of the best things we could do for our children was to maintain a strong marriage. (Make it a priority to date your spouse. Put it in your schedule and budget!)

Scripture says we are to put our hope not in material things but “in God, who richly provides us with everything for our enjoyment” ([1 Timothy 6:17 NIV](https://ref.ly/1%20Tim%206.17;niv?t=biblia)). That means we shouldn’t feel guilty for enjoying his provisions! God does not expect his followers to live like prisoners in a cell, never feasting or celebrating life. He entrusts us with money to care for our needs and the needs of others, but also so we can take pleasure in the life he has given us.

__Invest in Eternity—Together__

Many Christians store up their treasures on earth. They end up backing into eternity, heading away from their treasures. Christ calls us to turn it around—to store up our treasures in heaven. That way, every day moves us closer to our Treasure.

In her last years, Nanci and I reflected on the ways, by God’s grace, we had invested in eternity and served the Lord Jesus together. What lay behind us was meaningful, but what awaited us on death’s other side was what we spent our lives preparing for.

Shortly before she died, I was holding Nanci’s hand, and she said, with a smile and tears, “Randy, thank you for my life.” I replied, also crying, “Nanci, thank *you* for *my* life.” God had used us to grow each other spiritually and make us better followers of Jesus. We certainly didn’t do everything right, but with God’s help, we sought to store up far greater treasures in heaven than on earth.

__I encourage you to put Christ in the center of your marriage and finances. You will never regret it. The eternal payoffs will forever bring you joy and your Savior glory!__

__[Image](https://www.epm.org/resources/2024/Nov/20/steward-money-marriage/)__ used with permission

Eternal Perspective Ministries, founded and directed by author Randy Alcorn, is focused on investing in what lasts for eternity, and helping others to do the same.

Eternal Perspective Ministries

In surveying married couples about their money-management goals, most answers would focus on some form of success.

For Richer, for Poorer: How to Steward Money in Marriage

__Did you know that anxiety disorders are the most common mental illnesses in the United States today? With nearly [a third](https://www.nimh.nih.gov/health/statistics/any-anxiety-disorder#:~:text=An%20estimated%2031.1%25%20of%20U.S.,some%20time%20in%20their%20lives.) of U.S. adults experiencing some form of anxiety in their lifetime, the scope of the issue is staggering. The cost of treatment alone runs into the tens of billions of dollars annually, not to mention the economic loss from reduced productivity.__

Modern medicine categorizes anxiety into a variety of disorders, such as generalized anxiety, panic attacks, and social anxiety. While these classifications help in understanding the problem, the root causes of anxiety remain complex. According to the [Mayo Clinic](https://www.mayoclinic.org/diseases-conditions/anxiety/symptoms-causes/syc-20350961), anxiety disorders often stem from a mix of physical issues, mental health challenges, and negative life events—like losing a job or facing financial strain.

If you’re battling persistent anxiety, professional help is crucial. Counseling, medication, or a combination of both can provide much-needed relief. But is anxiety truly a modern problem, or is it a struggle as old as time?

__Anxiety Isn’t New: A Biblical Perspective__

In our fast-paced world, it’s easy to blame anxiety on modern pressures—frantic schedules, endless smartphone notifications, or even diet. While these factors contribute, anxiety itself is not new. In fact, Jesus addressed anxiety directly in Scripture, offering timeless wisdom in passages like Matthew 6 and Luke 12.

In Matthew 6:25, Jesus says:

*“Therefore I tell you, do not be anxious about your life, what you will eat or what you will drink, nor about your body, what you will put on. Is not life more than food, and the body more than clothing?”*

Imagine the disciples walking with Jesus through Galilee and Judea, relying entirely on the generosity of others for food and shelter. They must have wrestled with worry about their daily needs. Yet Jesus calls them—and us—to trust in God’s provision, pointing to the birds of the air as an example of God’s care for His creation.

__The Antidote to Anxiety: Seek First the Kingdom__

Jesus doesn’t just tell us *not* to worry; He provides a solution:

*“But seek first the kingdom of God and His righteousness, and all these things will be added to you.” - Matthew 6:33*

John Rinehart, founder of [Gospel Patrons](https://www.gospelpatrons.org/media/you-can-be-free-from-anxiety-about-money/), highlights that Jesus wants to free us from fear and anxiety—not so we can live comfortably, but so we can live differently. The world glorifies wealth, comfort, and security, often to the detriment of our spiritual well-being. It’s easy to chase financial stability or build *“bigger barns”* to store our resources, yet Jesus warns against this mindset.

The love of money competes for our hearts, tempting us to prioritize wealth over God. But by understanding our inherent value to God, we can resist this pull. He created us for a greater purpose: to glorify Him and proclaim the Gospel.

__Trusting God in Provision and Purpose__

Jesus assures us that we don’t need to face the world’s anxieties alone. He invites us to trust in God’s faithfulness and promises. While we are called to work and plan responsibly, we are also encouraged to have faith that God will provide.

As Jesus reminds us in Matthew 6:24:

*“No one can serve two masters…You cannot serve God and money.”*

When we choose to prioritize God’s Kingdom over worldly wealth, the weight of our worries begins to lift. Seeking God first transforms our perspective, allowing us to focus on His purpose for our lives: glorifying Him and sharing His love with others.

__The Call to Choose: God or the World?__

Every day, we face a choice. Will we pursue the fleeting security of the world, or will we seek God’s eternal Kingdom? The decision isn’t easy, but the rewards are profound. When you choose God over money, you open your life to His provision and peace.

By surrendering your anxiety and trusting in His plan, you not only free yourself from worldly cares but also embrace the joy of living with purpose. So, take Jesus at His word—seek first His Kingdom, and let the cares of the world fade away.

Anxiety is real, but so is God’s promise to care for us. Whether you’re struggling with financial worries or other burdens, remember that you are deeply loved by your Creator. Turn to Him, trust His provision, and watch as your worries give way to peace and purpose.

__Look at the Sparrows: A New 21-Day Devotional From FaithFi__

If you want to transform your approach to money through faith and find peace in God’s provision, FaithFi has just released a brand-new 21-Day Devotional on Financial Fear and Anxiety called [Look at the Sparrows](https://www.faithfi.com/shop/sparrows). This resource will take you on a journey through Matthew 6:19-34 to help you discover how to move from financial fear to a life anchored in trust and generosity.

__You can purchase individual copies or place bulk orders for your church or small group at [FaithFi.com/Sparrows](http://faithfi.com/Sparrows).__

You can __[listen](https://www.faithfi.com/search?q=Set%20Free%20From%20Anxiety&videos=true&articles=true&podcasts=true&posts=true&groups=true&events=true&support=true)__ to a related podcast on this topic.

With nearly a third of U.S. adults experiencing some form of anxiety,  is it just a modern problem or is it older?

Breaking Free from Financial Anxiety

<p><i>"The plans of the diligent lead surely to abundance, but everyone who is hasty comes only to poverty." - Proverbs 21:5</i></p><p>That verse is often used to encourage people to avoid <i>“get rich quick”</i> schemes and other risky investments. However, it also conveys a message about budgeting. Dr. Shane Enete joins us today to discuss why budgeting is a form of worship.</p><p>Dr. Shane Enete is an Associate Professor of Finance at <a href="https://www.biola.edu/">Biola University</a> and the author of the brand new book, <a href="https://www.amazon.com/Whole-Heart-Finances-Jesus-Centered-Managing/dp/1496483286/ref=sr_1_1?dib=eyJ2IjoiMSJ9.EOyhggTnDBHcBfgVZ_iDgR1iuUljZrP9-rMiM0ZIeXuqMWQi2t0HTZGEP89L8OE0Kh80IWIvQW0oo2rYxp-L7b2-un3i2whrkimK3TQM6hXjbY6n1r2fi4r1UTU98xwDLYChSwgdgSpJHz6eIZ_fIou3XwjJlmDu7tZCYDESn2efG5lc_mJMKX3pwtyNX4jByvCoFgoad95vrDD0OGYG_04GsIqvzzy6owfB6kU2TuI.HJ_vqtWeyr7BxL6wgG-KLcO0CvOiyxeWVnXzStsr1Uo&amp;dib_tag=se&amp;keywords=whole+heart+finances&amp;qid=1716579631&amp;sr=8-1"><i>“Whole Heart Finances: A Jesus-Centered Guide to Managing Your Money with Joy.”</i></a></p><h3>Why Do People Dislike Budgeting?</h3><p>Many people react negatively to the idea of budgeting. A <a href="https://www.cnbc.com/2024/04/01/people-hate-budgeting-heres-why-and-how-to-reframe-it.html">CNBC article</a> titled "People hate budgeting" spotlighted a financial professional who observed that over 60% of her clients felt as though they were <i>"literally going to suffer"</i> at the mere mention of budgeting. The misconception that budgeting is about reducing spending or losing freedom often drives this aversion. In reality, budgeting is a tool for aligning financial resources with personal and spiritual goals.</p><p>Look at King David, for example, during his preparation for building the temple in 1 Chronicles 28–29. David’s detailed planning and joyful devotion in allocating resources for God’s temple exemplify budgeting as an act of worship. He saw his financial planning as a way to serve God and inspire others to do the same. This narrative offers a powerful reminder that budgeting can be a means of glorifying God and building His kingdom.</p><h3>Budgeting as Intentionality</h3><ol><li><strong>A Plan for Worship</strong><br /><br />Budgeting is not about limiting joy but enhancing it by intentionally aligning financial decisions with God’s purposes. As stewards of God’s resources, we are called to manage money in ways that reflect His generosity and character.<br /> </li><li><strong>Daily Acts of Gratitude</strong><br /><br />Tracking expenses can become a form of worship. We develop a heart of gratitude by regularly acknowledging God’s provision—even mundane payments like utility bills or DMV fees. This practice shifts our mindset from entitlement to stewardship, deepening our reliance on God.<br /> </li><li><strong>Aligning with God’s Heart</strong><br /><br />Regularly reviewing and planning financial decisions enables us to grow closer to God’s heart. As stewards, we are responsible for managing resources according to His will. This intentionality creates financial margins that foster generosity, resilience, and a greater impact for His kingdom.</li></ol><h3>Breaking the Power of Money Through Generosity</h3><p>Budgeting also unlocks the potential for generosity. As Ron Blue has said, <i>“Giving breaks the power money can have over us.”</i> By setting financial priorities, we can intentionally allocate resources to support others and further God’s work. </p><p>William Wilberforce, a British politician, philanthropist, and movement leader to abolish the slave trade, once said, <i>“By careful management, I should be able to give at least</i> <i>one-quarter of my income to the poor.”</i> This kind of strategic generosity reflects a heart fully surrendered to God.</p><h3>A Transformative View of Budgeting</h3><p>Budgeting, when seen through the lens of worship, shifts from being a dreaded task to a joyful act of devotion. It enables us to live intentionally, reflect God’s character, and manage His resources wisely. By embracing this perspective, we not only honor God but also experience the freedom, joy, and resilience that come from living as faithful stewards.</p><p>If you’d like to dive deeper into this topic, check out Dr. Shane Enete’s article, <i>Budgeting as Worship</i>, in the quarterly publication <a href="https://www.faithfi.com/give"><i>Faithful Steward</i></a>. You can receive this resource by becoming a partner at <a href="https://www.faithfi.com/give">FaithFi.com/give</a>.</p><h3>On Today’s Program, Rob Answers Listener Questions:</h3><ul><li>I waited until full retirement age to start collecting Social Security, and I still work full time. My wife is past full retirement age but has not started collecting her Social Security yet. If she collects from my Social Security, will that interfere with my benefits now or in the future?</li><li>If I retired at 67 and got the full Social Security benefit, our only significant expenses would be our first and second mortgages. Would it be worth withdrawing big chunks from the inheritance money my mother left me and my brother so we could free up and live on $1,200 extra dollars a month?</li></ul><h3>Resources Mentioned:</h3><ul><li><a href="https://faithfi.com/give">Faithful Steward: FaithFi’s New Quarterly Publication</a></li><li><a href="https://www.amazon.com/Whole-Heart-Finances-Jesus-Centered-Managing/dp/1496483286/ref=sr_1_1?crid=1NI6Y8J3BES82&amp;dib=eyJ2IjoiMSJ9.dru4sHCq-iubhKq72T_wFb1dqA6fj1T7bcXskvFQU-scgHkHumRX2pcBSQFhiMgvQA04NUi6Wq3xntWpeQvtL5u3j17hTfpfZy8fKDfiiMp38lIJU5Jmx7ocfSMzuv9vkxQbbm9T4531T3GCSfZJ0dRNm3G27uUZ3AbMZmTFUwmB6NRdmbiwuDdqq9ppqT007OjEpa1yTMTeV4jrVkYRzcbpT3ABLSwL87tST6Uv02o.v1i1yOFxsoy3ISbgWpHOBFOELFJltFuWb1UuyY_BKDU&amp;dib_tag=se&amp;keywords=whole+heart+finances&amp;qid=1736877110&amp;sprefix=whole+heart+finance%2Caps%2C104&amp;sr=8-1">Whole Heart Finances: A Jesus-Centered Guide to Managing Your Money with Joy by Dr. Shane Enete</a></li><li><a href="https://www.faithfi.com/sparrows">Look At The Sparrows: A 21-Day Devotional on Financial Fear and Anxiety</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>

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

"The plans of the diligent lead surely to abundance, but everyone who is hasty comes only to poverty." - Proverbs 21:5

That verse is often used to encourage people to avoid “get rich quick” schemes and other risky investments. However, it also conveys a message about budgeting. Dr. Shane Enete joins us today to discuss why budgeting is a form of worship.

Dr. Shane Enete is an Associate Professor of Finance at Biola University and the author of the brand new book, “Whole Heart Finances: A Jesus-Centered Guide to Managing Your Money with Joy.”

Budgeting As Worship with Dr. Shane Enete

Where timeless biblical wisdom meets today's financial decisions.

Become Wise With Money

Our trusted partner, Christian Credit Counselors, offers a debt management program that can get you out of credit card debt 80% faster while honoring your debt in full.

Struggling with credit card debt but don’t know where to start?

Our debt management program helps people avoid bankruptcy, debt settlement scams, and quick fixes that ruin credit.

Christian Credit Counselors

Silence is not an option. Your boldness can set people free.

Talking about money is challenging and uncomfortable.

Compass helps people worldwide to know Christ more intimately in one of the most personal arenas of life, finances. We teach what the Bible says about money, nothing less, & encourage people to discover God’s truth & experience life change.

Learn, Apply, and Multiply What the Bible Says About Money and Possessions

Compass helps people worldwide to know Christ more intimately in one of the most personal arenas of life, finances.

Compass Financial

Discover the secret of "winning by not losing".

Profit & Peace of Mind - No Matter What's Happening in the Market

Financial health is just a means to a greater end. I want to see you in a place where you are living and giving generously, advancing God's Kingdom, without the hindrance of debt or any other financial barrier.

Give generously. Save wisely. Live appropriately.

Investing can be more than just returns

Eventide

Every Investment Has An Impact

Join a movement of investors, fund managers and leaders who believe that God owns it all and he cares deeply about why and how we steward his investments.

Faith Driven Investor

God is raising up an army of Gospel Patrons who will partner to build the church, bless the world, and finish the Great Commission.

Join the Movement

Behind every great movement of God are generous leaders who partner with those who proclaim the gospel. We call them Gospel Patrons.

Gospel Patrons

Do you have a giving strategy? We would love to help you explore all the opportunities to make the most of what God has given you.

Do you have a Giving Strategy?

NCF helps people create a giving strategy based on biblical principles, so they can be wise stewards of all they have and experience the joy of greater generosity.

National Christian Foundation

Most conversations about giving end with an ask for money. Generous Giving hosts free events that help explore Jesus-like generosity without asking for anything in return. This leads to stronger families and deeper relationships with God.

Explore the Joy of Generosity

We exist to spread the message of biblical generosity in order to grow generous givers especially among those entrusted with much.

Generous Giving

Are you ready to lay down anything in your life preventing you from following Jesus?

Find Joy and Freedom in a Life of Surrender

The Ron Blue Institute seeks to be a thought leader with great influence committed to changing the way Christians think, act, and communicate about financial stewardship, empowering the church, and changing the world.

Ron Blue Institute

We’re glad to share the financial and spiritual advantages that CHM offers, and they look forward to helping you discover if this is the right healthcare solution for you.

Want more information on CHM’s budget-friendly, biblical and compassionate healthcare solution?

We’re not insurance – We’re the better, biblical solution to taking care of your medical costs. If you don’t love how your health insurance works, maybe it’s time to leave traditional health insurance behind.

Christian Healthcare Ministries

We believe you can make a positive difference when your investment decisions are motivated by your faith and values.Investing together, impacting the world.

INVEST IN PRAXIS MUTUAL FUNDS

Praxis Mutual Funds has a rich history as a leading faith-based family of mutual funds designed to help people integrate their finances with their values. With Praxis,your investments can make a difference for you, and the world around you.

Praxis Mutual Funds

FatihFi App

We are a Bible-believing, Christ-centered nonprofit organization teaching Biblical principles and reaching people in need.

Explore our articles, podcast, and courses.

Educational resources for Biblically faithful investing

Inspiring an authentically Christian practice of modern investing.

Eventide Center for Faith & Investing

But it doesn’t have to be. Join a Faith Driven Entrepreneur Group today.

Entrepreneurship is a lonely journey.

Faith Driven Entrepreneur is a movement dedicated to gathering one million Christ-following entrepreneurs and equipping them, so they can fulfill their call to create and transform the world around them.

Faith Driven Entrepreneur

After nearly 20,000 meetings with people just like you, helping them grow in wisdom, confidence and joy, and coaching millions more over radio, television and digital media, we'd love to help you, too!

Money’s not bad, but it’s also not easy.

God is too good and life is too special to let money hold you back.  Get hope-filled coaching so you can steward wisely and live faithfully.

Smarter Stewardship

<p>One of the most common questions people ask is, <i>“How much will I need to retire?”</i> The answer is, <i>“It depends.”</i> It depends on your lifestyle, needs, and one key factor: how much you’re willing and able to cut from your budget. Let’s explore how thoughtful adjustments can help you bridge the retirement income gap and make this season of life meaningful and fulfilling.</p><h3>Understanding Retirement Income</h3><p>Most retirees experience a drop in income. While many work-related expenses disappear—like commuting, clothing, and dining out—studies show the average retirement budget is about 60% of pre-retirement income.</p><p>Experts generally recommend aiming for 75-80% of your working income to cover expenses. For example, if you’re earning $75,000 annually, you’ll need approximately $56,000 in retirement. However, if Social Security and investments only generate 60% of your income, you’ll face a shortfall of $11,250 annually—or $940 per month.</p><p>To bridge that gap, you can:</p><ol><li>Work longer to save more.</li><li>Work part-time in retirement.</li><li>Cut expenses to close the gap.</li></ol><h3>How to Cut Retirement Expenses</h3><h3>1. Downsize Your Home</h3><p>If your large family home is mostly empty, consider downsizing. A smaller home reduces:</p><ul><li>Maintenance costs.</li><li>Utility bills.</li><li>Property taxes.</li></ul><p>Additionally, selling your home can free up cash to convert into an income stream. If you’ve lived in the house for two of the last five years, you can exempt up to $250,000 in capital gains (or $500,000 for married couples).</p><h3>2. Reduce Transportation Costs</h3><p>Without work commutes, you may not need two vehicles. Selling one:</p><ul><li>It cuts repair costs, registration fees, and insurance premiums.</li><li>Generates extra cash for your retirement fund.</li></ul><p>Consider ride-sharing services for occasional conflicts when you and your spouse need to be in different places at the same time.</p><h3>3. Drop Unnecessary Insurance Policies</h3><p>Some insurance becomes unnecessary after retirement:</p><ul><li><strong>Disability Insurance:</strong> This replaces lost income when you can’t work. If you’re retired, you no longer need it.</li><li><strong>Life Insurance:</strong> If your children are financially independent, you can scale back or eliminate coverage, especially since premiums rise with age.</li></ul><h3>4. Eliminate Debt</h3><p>Carrying consumer debt, such as credit card balances, into retirement can significantly drain a reduced income. Instead, use the savings from downsizing, selling a vehicle, or cutting insurance to pay off high-interest debt as quickly as possible.</p><h3>Embrace the Opportunity to Give</h3><p>Retirement isn’t just about cutting expenses—it’s also about finding purpose. With more free time, consider serving your church or favorite ministry. Retirement offers an incredible opportunity to pour your wisdom and experience into others for God’s glory.</p><p>Retirement can be one of the most fulfilling seasons of your life. You can find contentment and purpose by thoughtfully managing your expenses and seeking God’s guidance. Remember, Christians don’t retire from something but to something. Ask God how He wants you to use this season for His glory, and trust Him to provide for your needs.</p><h3>On Today’s Program, Rob Answers Listener Questions:</h3><ul><li>My mother-in-law gifted our house to my wife during estate planning. I know this is not ideal because it sets the cost basis to what they originally paid. Can my wife return the house and have her mom set up a transfer-on-death (TOD) deed instead?</li><li>I recently sold my house and have the proceeds. I want to be a good steward of this money, but I'm unsure if I should put it in a high-yield savings account, an index universal life insurance product, or something else. What would be the best investment approach for this money?</li><li>I'm 80 years old, and I've taken the required minimum distributions from my IRA account for about 10 years. I do a qualified charitable distribution each year and give all that to the church. But when I die, my kids are beneficiaries of the IRA, where they have to continue the minimum required distributions. I want to understand how that works for my kids when they inherit the IRA.</li><li>Should I put my money in the S&amp;P 500 index fund or use the Charles Schwab Intelligent Portfolio for my Roth IRA? Which option is the best investment approach?</li><li>My husband just recently passed away, and I haven't received the life insurance payout yet. When I do receive it, do I need to pay a tithe on that money?</li><li>I just finished my divorce, and the judge is letting me keep my $24,000 401(k). I want to use that money to buy a small house because the rent is too high. Are there any fees or penalties for taking a hardship withdrawal from my 401(k) to use for a home purchase?</li></ul><h3>Resources Mentioned:</h3><ul><li><a href="https://faithfi.com/give">Faithful Steward: FaithFi’s New Quarterly Publication</a></li><li><a href="https://www.faithfi.com/sparrows">Look At The Sparrows: A 21-Day Devotional on Financial Fear and Anxiety</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>

One of the most common questions people ask is, “How much will I need to retire?” The answer is, “It depends.” It depends on your lifestyle, needs, and one key factor: how much you’re willing and able to cut from your budget. Let’s explore how thoughtful adjustments can help you bridge the retirement income gap and make this season of life meaningful and fulfilling.

How Much Will You Need To Retire?

<p>If you’re wondering what the economy will do in 2025, you don’t want to miss this program.</p><p>Few major league hitters can bat .300 in a given season. Imagine hitting .700! That’s what Bob Doll does every year: forecasting economic trends. He joins us today with his ten predictions for 2025.</p><p>Bob Doll is the CEO and CIO of <a href="https://www.crossmarkglobal.com/">Crossmark Global Investments</a>. He regularly contributes to Faith and Finance and other media outlets like Bloomberg TV, Fox Business, and CNBC. </p><h3>Key Economic Predictions: <i>Fewer Tailwinds, More Tail Risks</i></h3><p>The theme of Doll’s predictions signals a shift:</p><ul><li><strong>Fewer Tailwinds:</strong> Slower earnings growth and high valuation levels create less upward momentum.</li><li><strong>More Tail Risks:</strong> A new political administration introduces uncertainty around regulation, tax policies, and trade.</li></ul><p>Doll shares insights on everything from inflation to sector performance. Let’s dive into his top predictions for the year ahead.</p><h3>1. Slower Economic Growth and Rising Unemployment</h3><p>Doll predicts economic growth will slow as unemployment rises past 4.5%. While this signals a cooling job market, he emphasizes that a 4.5% unemployment rate is historically low and not cause for alarm.</p><h3>2. Sticky Inflation and Limited Rate Cuts</h3><p>Inflation is expected to remain stubbornly above the Federal Reserve’s 2% target. This will likely limit the Fed’s ability to reduce interest rates, continuing the challenges seen in 2024.</p><h3>3. Treasury Yields and Credit Spreads</h3><p>Treasury yields are forecasted to trade between 3.75% and 4.75%, with credit spreads widening slightly as the economy slows. While this doesn’t point to a recession, it reflects tighter financial conditions.</p><h3>4. Slower Earnings Growth</h3><p>Doll anticipates earnings growth will fall short of the optimistic 14% consensus, noting that such high growth is rare without a post-recession recovery.</p><h3>5. Increased Volatility</h3><p>After a period of low volatility, Doll predicts the VIX (Volatility Index) will approach 20, reflecting greater market uncertainty. He advises investors to remain disciplined and avoid emotional reactions to market swings.</p><h3>6. A 10% Market Correction</h3><p>Doll foresees a 10% correction in 2025, emphasizing that such corrections are normal and should be viewed as buying opportunities for long-term investors.</p><h3>7. Equal-Weighted Portfolios Outperform Cap-Weighted Portfolios</h3><p>Doll expects equal-weighted portfolios to outperform cap-weighted ones as the dominance of mega-cap stocks like the <i>“Magnificent Seven”</i> wanes.</p><h3>8. Value Outperforms Growth</h3><p>After years of underperformance, value stocks are projected to outshine growth stocks, driven by cheaper valuations.</p><h3>9. Top Performing Sectors</h3><p>Doll predicts financials, energy, and utilities will outperform sectors like healthcare, technology, and industrials. While technology remains essential, high valuations could temper its returns.</p><h3>10. Tax Cuts and Reduced Regulation</h3><p>With the Trump tax cuts set to expire in late 2025, Doll anticipates extensions alongside reduced regulations. However, divisive policies like tariffs and deportation may have limited economic impact.</p><h3>11. Budgetary Challenges</h3><p>Efforts to address government spending will face significant hurdles, with key programs like Social Security, Medicare, and defense spending off the table. Progress will likely fall short of ambitious deficit reduction targets.</p><h3>Preparing for 2025</h3><p>Doll acknowledges that predicting the future is inherently uncertain, but his insights provide valuable context for navigating the year ahead. He advises investors to stay diversified, remain disciplined, and prepare for volatility.</p><p>As we embrace 2025, let’s remember that while economic trends may fluctuate, wise stewardship and long-term planning remain steadfast principles for financial success.</p><h3>On Today’s Program, Rob Answers Listener Questions:</h3><ul><li>When our children were young, my husband and I decided to start tithing despite our tight budget. I was skeptical about how we could afford it, but we began tithing in faith. Surprisingly, our budget never changed—the 10% we tithed didn't impact our weekly spending. It was almost miraculous how the Lord provided for us as we honored him with our finances. To this day, I'm not sure how it worked out, but God was so faithful when we stepped out in obedience.</li><li>We've saved up cash at home for emergencies but have no significant expenses since we live on Social Security. How much of that cash should I keep at home? And if I don't keep it all at home, what's the best way to keep it somewhat liquid and earn some interest rather than just storing it in a coffee can?</li></ul><h3>Resources Mentioned:</h3><ul><li><a href="https://faithfi.com/give">Faithful Steward: FaithFi’s New Quarterly Publication</a></li><li><a href="https://www.crossmarkglobal.com/?utm_campaign=FaithFi&amp;utm_medium=FaithFi%20website%2C%20banner%2C%20email%2C%20social&amp;utm_source=vanity%20URL">Crossmark Global Investments</a></li><li><a href="https://www.bankrate.com/">Bankrate</a></li><li><a href="https://www.mycccu.com/faithfi/">Christian Community Credit Union (CCCU)</a></li><li><a href="https://www.faithfi.com/sparrows">Look At The Sparrows: A 21-Day Devotional on Financial Fear and Anxiety</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>

If you’re wondering what the economy will do in 2025, you don’t want to miss this program.

Few major league hitters can bat .300 in a given season. Imagine hitting .700! That’s what Bob Doll does every year: forecasting economic trends. He joins us today with his ten predictions for 2025.

Bob Doll is the CEO and CIO of Crossmark Global Investments. He regularly contributes to Faith and Finance and other media outlets like Bloomberg TV, Fox Business, and CNBC.

2025 Predictions with Bob Doll

<p><i>“Give me neither poverty nor riches, but give me only my daily bread.” - Proverbs 30:8</i></p><p>Every generation has struggled to learn contentment, and ours is certainly no different. But God’s Word provides great instruction on this tough topic. Brian Holtz helps us work through it today.</p><p>Brian Holtz is the CEO of <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>What Is Contentment?</h3><p>In Philippians 4:12, the apostle Paul shares, <i>“I know what it is to be in need, and I know what it is to have plenty. I have learned the secret of being content in any and every situation, whether well fed or hungry, whether living in plenty or in want.”</i></p><p>As Paul describes it, contentment is being satisfied with having enough—neither desiring more nor less. It’s a state of recognizing God’s provision as sufficient for every situation.</p><p>On the surface, contentment sounds simple: accept and be grateful for what you have. But as with most heart issues, it’s far more complex.</p><p>At a recent conference, attendees were asked two revealing questions:</p><ol><li>Do you feel you have enough?</li><li>Who would like more?</li></ol><p>Most people raised their hands to both questions. This honest reflection highlights a tension many of us face: knowing we have enough yet wanting more. As Proverbs 30:8 reminds us, <i>“Give me neither poverty nor riches, but give me only my daily bread.”</i> However, genuinely praying for <i>“only my daily bread”</i> can be a struggle when we long for more security or comfort.</p><h3>How to Learn Contentment</h3><p>Paul’s contentment didn’t come naturally—it was something he <i>learned</i>. His focus on gratitude provides a practical framework for us:</p><ol><li><strong>Focus on What You Have, Not What You Lack</strong><br /><br />Paul’s secret to contentment lies in appreciating God’s provision in all circumstances. Whether in plenty or need, he trusted in God’s sufficiency.<br /> </li><li><strong>Reframe Your Perspective</strong><br /><br />Instead of longing for a better car, job, or house, focus on the blessings you already have. Gratitude shifts your mindset and allows you to recognize the abundance in your life.<br /> </li><li><strong>Embrace the Sweet Spot</strong><br /><br />Paul’s perspective mirrors the balance described in Proverbs 30:8—a place between poverty and riches where we can flourish spiritually. When we focus on enough rather than excess, we experience greater peace and satisfaction.</li></ol><h3>Finding Contentment in a Discontented World</h3><p>Contentment isn’t something we achieve overnight; it’s a lifelong journey. That’s why <a href="https://compassfinancialministry.org/">Compass Financial Ministry</a> is dedicating its upcoming <a href="https://compassfinancialministry.org/conferenceregistration/2025-global-conference/"><i>Your Money Counts</i></a> conference to this vital topic.</p><p>The conference, which will take place in Orlando, FL, from February 27 to March 1, will offer an in-depth look at finding contentment in a world plagued by materialism. Attendees will explore Scripture, practical tools, and community support to grow as faithful stewards.</p><p>Learning contentment is essential for spiritual growth and faithful stewardship. As we embrace gratitude and trust God’s provision, we’ll find the peace Paul describes in Philippians 4.</p><p>For more information about the <a href="https://compassfinancialministry.org/conferenceregistration/2025-global-conference/"><i>Your Money Counts</i></a> conference, visit<a href="https://www.compassfinancialministry.org"> CompassFinancialMinistry.org</a>. Don’t miss this opportunity to learn how to thrive in God’s provision and find true satisfaction in Him.</p><h3>On Today’s Program, Rob Answers Listener Questions:</h3><ul><li>I'm looking to buy a new house near my grandkids before I retire in the next couple of years. I have rental property, retirement accounts, and other assets. How can I use these to purchase a new home without taking out a mortgage or depleting my retirement savings too much?</li><li>I'm 24 and live at home. I'm close to paying off all my student debt, which I'm excited about. I'm starting to think about budgeting, investing, and saving up for things like renting or even buying a home in the future. However, I'm anxious about transitioning to the "real world" and managing my finances. What's your advice for a younger person like me who doesn't have a ton of net worth yet but wants to honor the Lord with my money?</li><li>A few years ago, I invested in a private biotech company that has since gone public and is listed on the NASDAQ. However, I've lost my login credentials to monitor the investment, even though it's in a custodial account. I've tried to recover my login but haven't been able to do so. What's the best way to regain access to view and manage this investment?</li><li>I operate a nonprofit organization, and I'm considering trying to get a tax break for it. I was thinking about turning my residence over to the nonprofit. Can I get a tax deduction? What's the best way for me to go about doing that?</li></ul><h3>Resources Mentioned:</h3><ul><li><a href="https://faithfi.com/give">Faithful Steward: FaithFi’s New Quarterly Publication</a></li><li><a href="https://compassfinancialministry.org/">Compass Financial Ministry</a> | <a href="https://compassfinancialministry.org/conferenceregistration/2025-global-conference/">Your Money Counts Conference</a></li><li><a href="https://www.openhandsfinance.com/">Open Hands Finance</a></li><li><a href="https://www.faithfi.com/sparrows">Look At The Sparrows: A 21-Day Devotional on Financial Fear and Anxiety</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>

“Give me neither poverty nor riches, but give me only my daily bread.” - Proverbs 30:8

Every generation has struggled to learn contentment, and ours is certainly no different. But God’s Word provides great instruction on this tough topic. Brian Holtz helps us work through it today.

Brian Holtz is the CEO of Compass Financial Ministry and the author of Financial Discipleship for Families: Intentionally Raising Faithful Children.

Learning Contentment with Brian Holtz

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