Everybody needs to do some financial planning for a secure present and future. However, you should consider biblical principles while managing your money-related affairs as a Christian.
Since the Lord has provided you with all you have, you should use your resources responsibly for the glory of God. That means avoiding investing with companies and organizations that fund sinful practices.
The Bible has many verses covering finance-related topics like investing, debt, and taxes. However, it’s advisable to work with Christian financial advisors to receive expert assistance on savings, taxes, debt, investment, and other monetary matters according to biblical teachings on those subjects. You might consider asking these four questions before you hire their services.
What financial services do they offer?
You could start by checking the services your prospective financial advisor offers to make sure they follow biblical principles.
They should deliver valuable assistance in all money-related matters in a biblically responsible way. Since faithful stewardship involves doing everything for God’s glory, including managing your finances, they should assist you in doing that effectively.
You could ask them about their wealth-building strategies and if they could help you decrease risks and maximize gain. You should also inquire if they offer tax-related advice according to sound biblical principles such as Matthew 22:21, “Give back to Caesar what is Caesar’s, and to God what is God’s.”
Is their screening process for investments effective?
The investment screening process refers to finding ethical and clean companies to invest with. Financial advisors should have a set of parameters to differentiate companies into positive and negative screens.
Examples of negative screens include organizations that help promote or fund pornography, alcohol, tobacco, cannabis consumption, gambling, or dubious human rights practices.
In contrast, positive screens include companies that promote value-creation, ethical corporate governance, environmentally-friendly policies, and an equitable employee management system.
Can they help you identify corrupt investments?
As a Christian, you should use the resources the Lord has blessed you with according to biblical principles and teachings. Your investments should not violate any of the values espoused by the Bible in various verses like Proverbs 12:22, Proverbs 1:8, Proverbs 13:25, and Ecclesiastes 11:2.
Your financial advisor might even offer to screen your existing investment portfolio and let you know if you’re inadvertently aligned with organizations that promote sin. You should also check your advisor’s methodology of distinguishing companies and assigning positive or negative points.
Can they help with Christian financial planning?
Finally, you should check your advisor’s knowledge about Christian financial planning and if they can help teach you its cornerstones.
For instance, to faithfully steward your resources, they should help you identify your assets and liabilities and inform you about spending, saving, giving, insurance, and retirement planning. Your advisor should also assist you with creating an estate plan or legacy plan to allow your heirs to inherit your property effortlessly.
You might consider asking your prospective Christian financial advisor these questions before hiring them for financial planning. As a follower of Christ, you should wisely use the Lord’s resources to ensure you’re following biblical teachings and principles.