Money can significantly influence our thoughts, decisions, and overall quality of life. Maintaining a balanced view of money is essential for everyone, particularly Christians.
Biblical wealth management refers to managing your finances and resources based on the principles and teachings that are found in the Bible. It involves aligning your financial decisions and behaviors with biblical values and wisdom.
At PAX Financial Group, we are a team of experienced fiduciary wealth management professionals in San Antonio who respect and incorporate Judeo-Christian values in helping successful individuals and families sort through real-life financial complexities to live their desired lives.
In this blog, we’ll explore seven pillars that are the foundation of biblical wealth management services:
- Avoiding Debt
- Planning and Wisdom
- Ethical Business Practices
- Prioritizing Relationships
Stewardship is rooted in the belief that all we possess, including our money, is a gift from God. In this light, we’re not truly owners but guardians of these gifts during our lifetime. This way of thinking deeply influences how Christians approach and handle their finances.
One of the most referenced passages in the Bible concerning money and stewardship is found in the Book of Matthew:
“For where your treasure is, there your heart will be also.” – Matthew [6:21]
This quote can help us focus on prioritizing spiritual values over material possessions. It can serve as a reminder of ways we can use our money and resources in ways that reflect our values and priorities. A faith-based investing approach can help you achieve this principle in your life.
The Bible encourages believers to be generous and willing to help those in need. Giving to charitable causes, supporting a church, and helping the less fortunate are all emphasized in the Bible.
One of the most frequently cited Christian quotes regarding money and generosity comes from the New Testament:
“Each of you should give what you have decided in your heart to give, not reluctantly or under compulsion, for God loves a cheerful giver.” – 2 Corinthians 9:7
This passage emphasizes giving with a willing and joyful heart rather than out of a sense of duty. A Christian financial advisor can assist in creating a charitable donation strategy that allows you to give back to your community and support important causes while taking advantage of tax strategies to mitigate your tax liabilities.
The concept of contentment plays a pivotal role in the biblical perspective on wealth management. Understanding this relationship can provide a valuable framework for navigating financial and material decisions in life. This can include being satisfied with what one has rather than constantly seeking more material possessions.
This principle encourages gratitude and focuses on spiritual fulfillment rather than excessive materialism.
One of the most well-known Christian quotes about contentment and money comes from the New Testament. The Apostle Paul writes in 1 Timothy 6:6-10:
“But godliness with contentment is great gain. We brought nothing into the world, and we can take nothing out of it. But if we have food and clothing, we will be content with that. Those who want to get rich fall into temptation, a trap, and many foolish and harmful desires that plunge people into ruin and destruction. For the love of money is a root of all kinds of evil. Some people, eager for money, have wandered from the faith and pierced themselves with many griefs.”
This passage emphasizes the importance of contentment and the dangers of prioritizing wealth above faith and well-being. A Christian financial planner can help you prepare a comprehensive financial, retirement, and estate plan that includes how your belongings will be transferred to your family.
The Bible advises against becoming enslaved by debt and recommends living within one’s means to avoid financial bondage. When it comes to debt, several biblical passages discuss the topic, offering insights into the ancient perspective on borrowing and lending. Understanding these principles can help believers incorporate biblical wisdom into their financial decision-making.
One of the most frequently referenced verses in the Christian Bible regarding debt is
“Owe no one anything, except to love each other, for the one who loves another has fulfilled the law.”
This verse is often interpreted to suggest that Christians should avoid owing money or being in debt, focusing instead on the deeper debt of love that one should always strive to “pay” to others. At PAX Financial, we specialize in helping our clients build sustainable retirement plans that include debt relief strategies so they can live the lives they want.
Planning and Wisdom
The Bible strongly emphasizes planning and wisdom as foundational principles in wealth management. These principles teach that while wealth in itself isn’t bad, the love of money and the misuse of wealth can lead to problems. Wise and planned management of resources, rooted in biblical teachings, encourages a balanced approach to wealth, emphasizing ethical behavior, generosity, and a focus on eternal values.
One verse that encompasses these themes is:
“Plans fail for lack of counsel, but with many advisers they succeed.” – Proverbs [15:22]
This emphasizes the importance of wise planning and seeking counsel, which can also be applied to financial matters. This also stresses the importance of thoughtful and wise planning, especially when handling finances in a way that aligns with Christian values. It’s never too early or too late to start your financial planning process.
Ethical Business Practices
Ethical business practices are fundamental to building trust, credibility, and long-term success. Relating this to biblical wealth management offers a perspective rooted in age-old principles and moral teachings that have impacted the values and decisions of countless individuals throughout history. Conducting business with integrity and honesty, treating others fairly, and avoiding unethical practices are emphasized.
One Christian scripture that underscores the importance of ethical business practices is Luke [16:10]:
“Whoever can be trusted with very little can also be trusted with much, and whoever is dishonest with very little will also be dishonest with much.”
This passage emphasizes the importance of integrity and trustworthiness in all matters, small or large, which is foundational for ethical business practices. The team at PAX Financial act as fiduciaries, meaning that everything we do is always aligned with your best interests.
While wealth has a place in biblical teachings, it is always contextualized within the broader framework of relationships – with God, family, and the broader community. Prioritizing relationships ensures that wealth is used in ways that align with biblical values and promotes lasting, meaningful impact. The Bible emphasizes valuing relationships and people over material possessions.
A Christian faith-based quote that emphasizes the importance of relationships over material wealth is derived from the teachings of Jesus in the New Testament – Matthew [6:21]
“For where your treasure is, there your heart will be also.”
This verse suggests that what we value most reflects our hearts. Prioritizing relationships and love over material possessions shows that our heart is in the right place. At PAX, we care about much more than just the numbers. We believe in having honest, open communications with you. Integrity, transparency, and accountability are our three foundational values.
Download our popular eBook, “Biblically Responsible Investing (BRI): Feeling Good About Your Investments”
Is Biblical Wealth Management Right for You?
At its core, wealth management is the art of managing, growing, and preserving wealth. Across various cultures and belief systems, different philosophies and guidelines exist on approaching it. One such framework is derived from the teachings and principles found in the Bible. This approach can be particularly relevant for those who prioritize their faith and seek to align their financial decisions with Biblical teachings.
Whether Biblical wealth management is right for you depends on your personal beliefs, values, and goals. Suppose you have a strong Christian faith and wish to integrate your financial decisions with your spiritual beliefs. Adopting principles of Biblical wealth management might be the right approach for you.
It can provide a framework for making financial decisions that align with your faith and help you find greater purpose, joy, and fulfillment in your financial journey.
Before making any significant financial decisions, it’s recommended to consult with a financial advisor who is familiar with both your religious beliefs and financial goals. This will help ensure that your financial plan fits your situation and goals.
For instance, Proverbs 3:9 advises,
“Honor the Lord with your wealth, with the first fruits of all your crops.”
This suggests the importance of giving and acknowledging the divine source of our prosperity.
Taking the Next Step
As with any financial strategy, a successful wealth management solution requires commitment, discipline, and regular reflection. If aligning your financial journey with your spiritual beliefs is a priority, this approach offers a roadmap promoting financial well-being and spiritual growth.
If you’re new to this concept, seek guidance from a team of financial professionals who understand and advocate for Biblical wealth management principles. As you embark on this journey, remember Proverbs 16:3:
“Commit to the Lord whatever you do, and your plans will succeed.”
It’s not merely about managing wealth but about stewarding it in a way that honors the Giver of all good things.