Modern financial planning began in the late 1960s but has become more prominent in the past decade as financial advisors and investors pay more attention to it. The benefit of planning for the future is staying up to date on regulations and financial planning best practices, while ensuring a person makes wise financial decisions.
In addition to modern financial planning, Christian financial planning services have also risen in popularity. But what exactly is Christian financial planning, and what should you consider when hiring a financial planner?
What Is Christian Financial Planning?
The Bible is the basis of Christian financial planning, and it contains many pieces of financial advice. In fact, money is the second-most discussed subject in the Bible, with over 2,350 verses related to it.
In Matthew 6:21, Jesus says, “For where your treasure is, there your heart will be also.” This means that our attitudes toward money reflect how we perceive God, and determine if we’re obedient to him or not. Money will either draw you away from God or become a tool used to honor Him.
A biblical financial plan helps people make wise, God-honoring financial decisions based on Biblical principles and wisdom.
Benefits of Hiring a Biblical Financial Advisor
There are various benefits of using Christian financial planning services. For example:
- A Christian financial advisor shares your core values and beliefs, whereas traditional advisors are almost entirely concerned about piling up money without considering God in the process.
- Your perspective on debt, giving to charity, investments, and how to leave an inheritance are likely to differ from the prevailing worldly paradigm. A certified Christian financial advisor helps you strategize and use your finances, tax, legal planning, and investment to advance God’s kingdom.
- A Christian financial advisor is fully qualified to tell you about various biblical investment plans and help you learn about how the Bible speaks about money.
- Christians often make decisions about money that are contrary to societal norms. Going against the grain takes courage, and a Christian financial advisor can guide and support you.
- Having a financial advisor who has sound knowledge on what the Bible says about money and how to apply it to today’s finances can help you commit to living out your faith through your financial decisions.
What Should You Consider Before Hiring a Christian Financial Service Provider?
Biblically Responsible Investing
Biblically responsible investing (BRI) should inform your advisor’s investment strategy and style. While socially responsible investing (SRI) emphasizes corporate governance, sustainability, and/or social justice, BRI uses moral and social principles as a guide according to biblical teachings.
Advisors who follow BRI principles avoid investing in companies that make money by selling tobacco, alcohol, or cannabis. Instead, they promote investments with firms that do good for the community and employ practices that produce tangible environmental or social benefits.
Conclusion
Finding the right Christian financial advisor is like finding any other financial advisor when it comes to making sure they can provide the services that meet both your short- and long-term financial goals. However, when it comes to finding the right Christian advisor, you should make sure your values are also at the center of your search.
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