## Do you have a financial advisor, or are you taking advice from your favorite social media platform?

Ads on social media, such as Facebook, don’t appear at random. Armies of skilled software engineers spend long hours targeting your deepest needs, wants and fears with products. Not only does this advertising encourage impulse spending, leading to more debt; the products it pushes are often at best useless and at worst, harmful to your financial health.

Personal finance blogger Anthony Isola recently [lamented](https://tonyisola.com/2022/07/dont-let-facebook-ruin-your-retirement-plan/) the state of social media advertising and its ill effect on society. Isola makes the case that there’s a type of psychological warfare going on in social media … but only one side is aware of it. Social media software engineers are using sophisticated algorithms to collect, analyze and exploit your buying weaknesses.

## You can measure their success by the hundreds of billions of dollars in advertising revenue (and the sale of your personal information) raked in by the founders of Facebook, Google, TikTok, Instagram, Twitter, and YouTube.

The key to this success, says Isola, is getting you to stare at your computer or smartphone screen as long as possible. He calls this “stealing your attention.” Getting you to scroll to, see, and click on an ad results in more dollars for the social media oligarchs.

Ad designers have many choices for how ads can be crafted and targeted at unsuspecting consumers. These might include faith, love, friendship and patriotism, but apparently, that’s not where the real money is, except in “niche” markets. The biggest returns, it seems, come from darker emotions.

Social media ad designers soon realized that fear and anger pay better. The reason for this is something known as “Negativity Bias.” Researchers discovered that we’re likely to stare longer at something if it’s destructive or harmful. Youtube videos of cute kittens might cater to a niche crowd, but far more people will camp on a video showing a car crash or a bridge collapsing and therefore the ads that accompany it.

New York University conducted a study that found tweets containing moral outrage greatly increase re-tweeting and Facebook posts containing themes of social unrest double the number of likes and shares. Gloom and doom *pays*.

What does it have to do with your finances and particularly your retirement plan? The author noted the frequency of social media ads warning of economic armageddon just around the corner, suggesting you must buy this book or that video series to learn how to survive.

The cost of those products isn’t the real problem—  it’s the often bogus financial advice they hand out. They may lead people to cash out their retirement portfolios, buy too much in gold and other precious metals (only 5% of your portfolio is recommended) or engage in any number of risky investment schemes. The author contends that Facebook has become the financial advisor to far too many people.

## How do you avoid becoming one of them? Proverbs 15:22 tells us, *“Without counsel plans fail, but with many advisers they succeed.”* However, it’s key to choose the *__right__* financial advisor.

Kingdom Advisors co-founder Ron Blue says you want someone who’s been trained and has committed to being a person of character, someone with a biblical worldview. That person must serve you with financial advice so you can confidently navigate financial decisions as a faithful steward and not react in panic when you see a disturbing ad on Facebook.

Having a godly, Christian financial advisor, such as those earning the designation Certified Kingdom Advisor® has three blessings. It provides:

- Accountability from a third party
- Security and familiarity for a surviving spouse
- The objectivity of a third party to bring wisdom into troubling situations

As a financial planner, Ron Blue successfully advised clients for decades, but even he has used the services of a financial planner for years. You can’t make a stronger argument than that!

__Instead of falling victim to some financial scheme on Facebook, just click [Find a CKA](https://www.moneywise.org/find) and set your fears aside.__

You can also __[listen](https://www.moneywise.org/search?q=Is%20Facebook%20Your%20Financial%20Advisor?&videos=true&articles=true&podcasts=true&posts=true&groups=true&events=true&support=true)__ to the related podcast on this topic.

Biblical Wisdom For Your Financial Journey

MoneyWise

Articles

Do you have a financial advisor, or are you taking advice from your favorite social media platform?

Is Facebook Your Financial Advisor?

At some point in our Christian walk, many of us come to a fork in the spiritual road where the Lord makes us aware that we’ve been asking Him to join us in what *we* are doing, rather than us joining Him in what *He* is doing.

That’s often the uncomfortable bottom-line of the choice we have as Christians when making decisions. It’s easy to take all the available information, set our course, then ask God to join us in what we’ve decided. It’s much harder to surrender a decision to God, ask for His direction, then wait for an answer.

(No, I don’t always hear clear direction, even when I ask, wait, and seek. Be encouraged — the Lord often grants us the freedom to choose among our available options. Moving forward in a case like that is quite different from not asking, waiting, and seeking first!)

The problem with setting our own course without listening first for God’s direction is that even seemingly great ideas don’t always line up with God’s plan. Surrendering completely to God often leads to surprising outcomes.

King David’s experience with the temple offers a great illustration. If ever someone could have reasonably assumed his thoughts were being led by God, it would be David in 2 Samuel 7-10. These chapters are the glory years of David’s life. God had shown him incredible favor, established him as king, and given him victory over his enemies.

As David reflected, it bothered him that the Ark of the Covenant was sitting in a tent while he was living in a palace. So David decided to build God a temple. But David had learned (in 2 Samuel 6) that God can be very particular about how He wants things done. So before taking action, he called the prophet Nathan to confirm this plan was indeed God’s will.

At first, this seemed to be such an obviously good idea that Nathan immediately agreed David should proceed. Oops. See, building a temple was something God wanted to happen. The *idea* was right. David’s *motive* was right. The problem was God didn’t want David to be the one to build it.

The reason wasn’t obvious at the time; only later do we learn why God chose someone other than David to build the temple: *“You are not to build a house for my Name, because you are a warrior and have shed blood”* ([1 Chronicles 28:3](https://biblia.com/bible/niv/1%20Chron%2028.3)). God corrected Nathan’s assumption, reminding us that His plans don’t always line up with our “common sense.” David was humbly surrendered to do whatever God wanted. So David’s son Solomon was given the honor of building the temple, and God was pleased.

Each of us can apply the lessons of this story to our lives — including in the area of our personal finances. First and foremost, have we really surrendered our finances 100% to God, or are we merely asking Him to join us in what we’re doing? (This requires regular check-ups. Even if we’ve surrendered before, we have a tendency to gradually re-assume control of areas that were once fully given over to the Lord.)

When we’re sure our heart is surrendered to whatever God’s answer may be, the next step is simply to ask Him to show us His will. Here are a few specific areas to ask the Lord about:

- your job or career path;
- retirement plans and amount of saving;
- current and future giving;
- family plans/children/childcare-work decisions;
- lifestyle and other purchase choices.

Could it be the Lord desires something out of the ordinary from you in one (or more) of these areas? Once you’ve prayed and asked Him to reveal His will in a particular area, be diligent to look and listen for His answer! If we come with an open heart, God is faithful to show us areas we need to surrender.

The path to true financial freedom begins with surrender and the realization that God owns it all anyway. We are merely His managers and stewards. Too often we believe the age-old deception that God’s plans and our personal best interests are two separate things. Pride whispers that we really do know best; that giving up our rights costs us something of value. But as we lay down our agenda and surrender to God, we realize that His plans and our best interests are perfectly aligned.

As John Piper says, “God is most glorified in us when we are most satisfied in Him.” *We* get maximum satisfaction in the same place *He* gets maximum glory. The journey to that place begins with our surrender and a willingness to follow His lead.

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

Sound Mind Investing

Faith and Finance

Many of us come to a fork in the spiritual road where the Lord asks us to join Him in what He is doing.

Financial Surrender

# “I wish my parents would have taught me about money.”
I hear similar words from adults on a regular basis. They consider their past while looking at their current financial situation and wonder how things would be different if they were taught about money at an earlier age.

These comments remind me of the gift my parents gave me, the gift of financial knowledge. Growing up, my parents did not always have significant financial resources, but they stewarded well what they did have. And they taught me how to do the same.

Over time, I’ve realized the financial knowledge my parents provided was rare. This recognition has only burdened me more to help others understand and pursue God’s design for money. And help others to help others do the same.

What did my parents teach me about money?

### __1. Money is not a taboo topic.__

I didn’t realize money was often deemed a taboo topic until I left my parent’s house. Growing up, there were regular conversations about money and financial decisions. I listened to my parents talk about money like they would chores, work, sports, or any other topic. Money conversations were not weird. They were completely normal, just part of life. Of course, these conversations created opportunities for my parents to talk to me about money in a very unforced, unremarkable manner.

### __2. Money is a tool.__

I never heard my parents talk about money as a goal. Money and financial health were always a means to accomplish something bigger. Money was a God-provided tool they were to leverage for His purposes. This lesson still profoundly impacts the way I think about the resources God has entrusted me with.

### __3. You must budget.__

I can clearly remember my parents sitting around the kitchen table, balancing their checkbook and reviewing their budget. Budgeting was an important money management tool for them. And they wanted to make sure it was for me as well. In my later high school years, my dad provided me a budget planner and taught me how to budget. Yes, I was weird. I was the only college student I knew who used a budget. But the practice proved to be invaluable as I graduated college and entered the “real world.”

### __4. Invest early.__

I started investing for retirement around 16 or 17-years old. Again, I was weird. But this did not happen because I simply woke up one morning and decided to invest for the future. It was through the teachings and encouragement of my parents that I opened by first Roth IRA. They helped me understand compounding and the power of investing early. So, I did.

### __5. Live generously.__

I can say this without hesitation—my parents are some of the most generous people I know. Not only do they faithfully give to their local church, but they have also financially cared for many individuals. I won’t go into further details because I know they would prefer I don’t. But I can say this—they have taken the blessings God has provided them and blessed many others. Watching this shaped me as a child. It still shapes me today.

Parents, your children will learn about money from somewhere. If you leave it up the world, the teachings are often financial unwise and depart from God’s design for your child. Take full advantage of the opportunity God has given you. Teach your children about money. When your children become adults, they will be grateful for your intentionality.

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.

Art Rainer

Marriage and Family

“I wish my parents would have taught me about money.”  I hear similar words from adults on a regular basis.

5 Things My Parents Taught Me About Money

Do you have a financial advisor? Or are you taking advice from your favorite social media platform? We’ll talk about that today on MoneyWise.<ul><li>So the other day our team came across <a href="https://tonyisola.com/2022/07/dont-let-facebook-ruin-your-retirement-plan/">a post</a> by personal finance blogger Anthony Isola. He was lamenting the state of social media advertising and its ill effect on society.</li><li>He’ll get no argument here. Advertising encourages impulse spending, leading to ever more debt. What’s more, the products it pushes are often useless or even harmful to your financial health.</li><li>Isola makes the case that there’s a type of psychological warfare going on in social media, but only one side is aware of it. Social media software engineers are using sophisticated algorithms to collect, analyze and exploit your buying weaknesses.</li><li>The key to this success is getting you to stare at your computer or smartphone screen as long as possible. The author calls this “stealing your attention.” Getting you to scroll to, see, and click on an ad results in more dollars for the social media oligarchs.</li><li>Now, just how do they do that? Ad designers had many choices for how ads could be crafted and targeted at unsuspecting consumers.</li><li>These might include faith, love, friendship, and patriotism, but apparently, that’s not where the real money usually is. The biggest returns, it seems, generally come from darker emotions.</li><li>Social media ad designers soon realized that fear and anger pay better. The reason for this is something known as “Negativity Bias.”</li><li>Researchers discovered that, sadly, we’re likely to stare longer at something that’s destructive or harmful. Youtube videos of cute kittens might cater to a niche crowd, but far more people will camp on a video showing a car crash or a bridge collapsing, and therefore the ads that accompany it.</li><li>Here’s another example. New York University conducted a study that found tweets containing moral outrage greatly increase re-tweeting, and Facebook posts containing themes of social unrest double the number of likes and shares.</li><li>Now, obviously, this is disturbing information that we should all be aware of, but what does it have to do with your finances and your retirement plan? Well, remember that “gloom and doom” pays.</li><li>The author noted the frequency of social media ads shouting warnings of economic armageddon just around the corner. You absolutely must buy this book or that video series to find out how to survive.</li><li>The cost of those products isn’t the real problem, it’s the often bogus financial advice they hand out. This may lead people to cash out their retirement portfolios, buy far too much in gold and other precious metals, or any number of risky investment schemes.</li><li>The author contends that Facebook has become the financial advisor of far too many people. </li><li>HOW TO AVOID SOCIAL MEDIA-DRIVEN INVESTING DECISIONS</li><li>One of our favorite verses is Proverbs 15:22. It reads, “Without counsel plans fail, but with many advisers, they succeed.” But it’s key to choose the right financial advisor.</li><li>Kingdom Advisors co-founder Ron Blue says you want someone who’s been trained and has committed to be a person of character, someone with a biblical worldview to serve you with financial advice so you can confidently navigate financial decisions as a faithful steward, and not react in panic when you see a disturbing ad on Facebook.</li><li>Having a godly, Christian financial advisor, such as those earning the designation “Certified Kingdom Advisor,” has three blessings: It provides accountability from a third party. It provides security and familiarity for a surviving spouse, and the objectivity of a third party to bring wisdom into troubling situations.</li><li>As a financial planner, Ron Blue successfully advised clients for decades, but even he has used the services of a financial planner for years. You can’t make a stronger argument than that!</li><li>So instead of falling victim to some financial scheme on Facebook, go to MoneyWise.org AND <a href="https://www.moneywise.org/find">Find a Certified Kingdom Advisor</a>.</li></ul>On this program, Rob also answers listener questions: <ul><li>Is there a way to structure investments to minimize tax liability? </li><li>How can you make headway with credit card debt when it seems you can only pay the minimum monthly payments?</li><li>How do you determine tax liability on an inheritance? </li><li>Can a person legally keep a life insurance policy on an ex-spouse?</li><li>Is there a way to make a cash gift to your pastor tax-free?</li><li>What is a Roth 401k? </li></ul>RESOURCES MENTIONED: <ul><li><a href="https://www.moneywise.org/find">Find a Certified Kingdom Advisor</a></li><li><a href="https://www.christiancreditcounselors.org/">Christian Credit Counselors</a> </li></ul>Remember, you can call in to ask your questions most days at (800) 525-7000 or email them to <a href="mailto:questions@moneywise.org">Questions@MoneyWise.org</a>. Also, visit our website at <a href="http://moneywise.org/">MoneyWise.org</a> where you can connect with a MoneyWise Coach, join the MoneyWise Community, and even download the free MoneyWise app.

MoneyWise is a daily radio ministry of MoneyWise Media. Hosted by Rob West and Steve Moore, the program offers a practical, biblical and good-natured approach to managing your time, talents and resources.

MoneyWise with Rob West

Do you have a financial advisor or are you taking advice from a social media platform? ﻿Ads on social media like Facebook don’t appear at random. Armies of skilled software engineers spend hours targeting products to your deepest needs, wants and fears.

A recent survey showed that money is a significant source of stress for most of us. So, how can you reduce money-related stress? Rob West shares three tips from Art Rainer.

The MoneyWise Minute is a great way to be reminded of God's financial principles with actionable items you can easily apply to your daily life.

MoneyWise Minute

A recent survey showed that money is a significant source of stress for most of us.  So, how can you reduce money-related stress? Rob West shares three tips from Art Rainer.

Financial Stress

The thing God wants for us more than anything else is to reflect his heart. And his heart is one of boundless generosity. We’ll discuss that today on MoneyWise. 
<ul><li>On our Monday programs, we like to get back to “first principles” — to talk about foundational truths that undergird the other things we discuss on this program.</li><li>When it comes to money, there are only about five general ways you interact with it: <ul><li>1. You can earn it</li><li>2. Use it to live on</li><li>3. Give it away</li><li>4. Pay it to someone you owe</li><li>5. Or you can invest it so that it can grow to meet future needs.</li></ul></li><li>So far this month, we’ve covered “earn” and “live.” On this episode, we want to talk about “give.”</li><li>Maybe you’ve heard someone say something like, “Why should I give to the church? I need the money more than they do!”</li><li>WHAT GOD REALLY WANTS</li><li>Christian giving isn’t about something God wants from us. It is about what God wants for us.</li><li>And what does he want? Ultimately, he wants us to be like him. That’s what Christian discipleship and the work of the Holy Spirit is all about — molding and making us, day by day, more like the Lord himself — the One whose very nature is to give.</li><li>God is the great giver. Why did he create the universe? Why did he make the human race? Why did he send Jesus to us?</li><li>All of these things flow from his boundless generosity and love. And this generous God wants us to be like him.</li><li>The Apostle Peter says we who have come to Christ have become “partakers of the divine nature.” There are many implications of that, but among them is that the very generosity of God should flow through us. That includes giving financially to support God’s work in the world.</li><li>Unfortunately, many Christians think of giving as a burden — as something “they have to do.” No, it is something we get to do. Giving is a privilege. And it helps us, when done with the right attitude, to experience the joy of generosity, and become people who delight, as God does, in giving freely.</li><li>BEING A WISE STEWARD</li><li>Being a generous giver is facilitated by being a wise and faithful steward in every area of your finances. If you plan well, spend wisely, and avoid debt, you can more easily grow in generosity.</li><li>And by growing in generosity, you’ll become more and more Christlike. And that is exactly what God wants for you.</li><li>18th-century preacher and theologian John Wesley. I did this a couple of weeks ago as well. One of his famous sermons is called “The Use of Money.” In it, he says, "Having, first, gained all you can, and secondly saved all you can, then give all you can."</li><li>There is something implicit in what he is saying — and that is wise money management.</li><li>The only way you can save all you can is by managing your earnings wisely. And that also holds for giving all you can. If you learn to manage money well, you’ll be able to give more.</li><li>Giving money away will make you a more joyful person. Because as you grow in generosity, you will become more and more like the person God intends you to be.</li><li>In 2nd Corinthians 9:7, the Apostle Paul writes this: “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.”</li><li>Giving reluctantly or under compulsion misses the whole point. The God who has given to us so freely — to the extent of giving his only begotten Son for us — wants us to give freely too.</li><li>Now, if you find it difficult to give cheerfully, let me urge you to take that to the Lord. Ask him to make your heart like his heart. That might not happen overnight. But if you keep up that prayer, I am confident that God will answer. You’ll become a cheerful giver — and be more like him.</li></ul>On this program, Rob also answers listener questions: 
<ul><li>Are you taxed on the proceeds from the sale of a home?</li><li>Does it make sense to take money out of a TSA to pay off a mortgage?</li><li>Can you sell your home to an adult child for a predetermined price regardless of the appraised value of the house?</li></ul>RESOURCES MENTIONED: 
<ul><li><a href="https://www.moneywise.org/find">Find a Certified Kingdom Advisor</a> </li></ul>Remember, you can call in to ask your questions most days at (800) 525-7000 or email them to <a href="mailto:questions@moneywise.org">Questions@MoneyWise.org</a>. Also, visit our website at <a href="http://moneywise.org/">MoneyWise.org</a> where you can connect with a MoneyWise Coach, join the MoneyWise Community, and even download the free MoneyWise app.

The thing God wants for us more than anything else is to reflect His heart. And His heart is one of boundless generosity. We often think it’s about God wanting something from us but really, it’s about him wanting something for us.

Christian Giving Is About What God Wants For Us

Leo Sabo

The late Larry Burkett used to say, "Show me your checkbook, and I'll tell you what you care about most." What we spend money on is revealing. As it relates to money, it's not what you *say* that matters most, but what you *do*. This is especially true when it comes to giving our money because it is the clearest indication of being concerned about anyone other than ourselves. Deep down, we are all born selfish. We're also geared toward self-preservation, which causes us to look out for ourselves first before taking care of others. __How much money we keep for ourselves and what we are willing to give to help others is one area that best reveals this truth.__

America is known as the most generous country globally, and if we look at the amount of money given, that would be a correct assumption. However, if we look at American's giving in relation to income, it would be difficult to call us generous.

The average household income in the United States, according to the latest 2017 census, is $61,372. According to one study, the average annual cash gift by 73% of respondents was under $500. If we consider two adults per household, we can increase that gift to $1,000 per year. That gift represents 1.63% of the average household income, hardly a generous amount when you consider the 98.4% that was kept. Christian giving is only slightly better, somewhere between 2% and 3%. These figures represent the average giver, which means that some give more while others give nothing. Between 37% and 50% of professed Christians give nothing, or nothing measurable, to their local church, while somewhere between 10% and 15% of churchgoers give a tithe (10%) of their income.

### IT’S NOT WHAT WE GIVE, BUT WHAT WE KEEP

The story of the faithful widow found in Mark 12:41-44 proves that not much has changed in the past 2,000 years. And, perhaps it has gotten worse when you consider that we have less to worry about concerning our provisions today, and therefore, we should be more able and willing to be generous.

In the story, Jesus and his disciples are in the temple. Jesus is watching how people put money in the treasury and noticed that many rich put in much. Then, Jesus sees a widow approach and put in two mites. These were copper coins that were worth very little, as little as a fraction of a penny. Calling his disciples over, he points out that this widow had just put more into the treasury than all who put into the treasury. I'm sure that got the disciples' attention because they knew the amount she gave was much smaller than what the rich had given. Jesus explains. The rich had given a portion of their abundance, while she gave everything she had out of her poverty. __It's not what we give that reveals our priorities; it's what we keep.__

![](https://images.squarespace-cdn.com/content/v1/5b28b3e945776e86f5212567/1629730449318-LWXD59L5I2TDAN6VO1YW/Copy+of+blog+quote+smg.png?format=1500w)


The rich had more than enough to meet their needs. What they gave was out of their surplus. __In other words, there was no risk or sacrifice to themselves to give what they gave.__ Like most Americans, they kept the largest amount for themselves, proving what was most important to them. In contrast, the widow gave 100%, everything she had to God. By her extravagant gift, she revealed her priority and proved what was most important to her.

### THE AMOUNT OF A GIFT IS NOT AN ACCURATE WAY TO GAUGE THE EXTRAVAGANCE OF THAT GIFT.

We are often impressed by large donations or gifts to charity when they become public. When wealthy Americans give away hundreds of millions of dollars or even a few billion dollars in a year, it's easy to think that's extravagant. But, as a [November 2019 Business Insider article](https://www.businessinsider.com/how-much-money-10-richest-people-in-america-gave-charity-in-2018) revealed, only three of the ten wealthiest people in America gave more than 1% to charity in 2018, the most significant gift coming from Warren Buffett at 3.9% or $3.4 Billion of his $88.3 Billion Net Worth. __We're impressed by the dollar amount, but when we learn what the percent of net worth or annual income the gift represents, it's clear that there wasn't much of a sacrifice necessary for the donation to be made.__

What we spend our money on is a clear indication of what we value most. If you say you care about something or someone but rarely think about how you can do more for them, instead you spend selfishly on your own, then you're not truthful and honest with yourself.

__Spending only on yourself and pursuing selfish gain leads to dissatisfaction with life.__ Something about this pursuit leads to the opposite of what we hope and desire, fulfillment. God created us to be more fulfilled and experience more profound joy when we do something for others, not just for ourselves. This doesn't mean we should never do anything for ourselves. We should enjoy life, whatever that encompasses, but most of our focus should not be spent on our own comfort or seeking pleasure. Many people who have taken that path have suffered for it. There's an unholiness about it, and money is often the vehicle that takes us there. 1 Timothy 6:10 confirms this truth.

> *"For men who set their hearts on being wealthy expose themselves to temptation. They fall into one of the world's traps, and lay themselves open to all sorts of silly and wicked desires, which are quite capable of utterly ruining and destroying their souls. For loving money leads to all kinds of evil, and some men in the struggle to be rich have lost their faith and caused themselves untold agonies of mind."* (1 Timothy 6:9-10 Phillips)

## Setting God-pleasing Priorities

The best way to assess whether your priorities are in alignment with God's will is first to look at how and what you're spending your money on. I assume you're managing your money based on a written plan so you can clearly see what's going on. If you don't have such a plan, then that's your first step. Make a plan and start spending according to that plan. Start looking at what you're spending money on, and then prayerfully ask God to speak to you regarding your choices. Some other questions to ask are:

1. *Am I regularly acknowledging God as owner and provider of all I have? Am I tithing or giving the first portion of my earnings to God?*
2. *Are my lifestyle choices, my house, car, what I eat, and what I wear extravagant, just right, or less than what's adequate for my family and me?*
3. *Would God be pleased with every spending decision if I gave him a monthly account of everything I spend?*

__God has promised to provide for us all we need (Matt 6:25-33), so we don't need to worry or strive for the things we need in life.__ If we trust God and stay faithful and diligent to do our part, we will have enough. But God has also promised we would have more than enough. *"And God will generously provide all you need. Then you will always have everything you need and plenty left over to share with others."* (2 Corinthians 9:8 NLT)

The purpose of this over and above provision we're given is to be generous whenever an occasion arises, and that's where the fulfillment and joy of life happens. When we have what we need and more to generously provide for and serve others, we experience life as God intended.

([image](https://www.christianstewardshipnetwork.com/blog/2021/8/23/money-reveals-our-priorities) used with permission.)
. . .

## For Further Reading:

[Stewarding Your Calling](https://www.christianstewardshipnetwork.com/blog/2021/8/17/stewarding-your-calling)

[Unity Through Stewardship](https://www.christianstewardshipnetwork.com/blog/2021/8/9/unity-through-stewardship)

[What Does the Bible Say About Spending?](https://www.moneywise.org/christian-stewardship-network/what-does-the-bible-say-about-spending-2952)

[What the Widow’s Gift Says About Giving](https://www.moneywise.org/christian-stewardship-network/what-the-widows-gift-says-about-giving-2489)

[How to Set Your House in Order](https://www.christianstewardshipnetwork.com/blog/2021/7/19/how-to-set-your-house-in-order)

[Are You Called to Stewardship Ministry?](https://www.moneywise.org/christian-stewardship-network/are-you-called-to-stewardship-ministry-2481)

We teach church leaders the biblical perspective on finances.

Christian Stewardship Network

Blog

What we spend money on is revealing. As it relates to money, it's not what you say that matters most, but what you do.

Money Reveals Our Priorities

Rob West

Ron Blue

Howard Dayton

Equipping people worldwide to faithfully apply God’s financial principles so they may know Christ more intimately.

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Mark Biller

Where timeless biblical wisdom meets today's financial decisions.

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There's a misunderstanding in Christianity about serving in ministry. Many people believe that serving in ministry is a full-time pastor position at a church or a missionary to a specific region or group. Unless you fit into one of these roles, you're not really in ministry.

I spent sixteen years in my first career working for a large company that provides a vital service to the public. While employed there, I began to help people understand finances from a Biblical perspective through small groups, teaching classes, and coaching. I did this during the evenings and weekends as a volunteer.

It was years later that God called me to do it full-time. And you know what? The job was exactly the same. The only difference was the amount of time I got to do it each day. I realized then I had been doing ministry all along.

In my focused area of ministry, financial discipleship, I've met hundreds of people with the same passion for sharing the truth about Biblical stewardship and for helping people live it out. A few indicators confirm, at least for me, when someone is being called to serve in stewardship ministry.

# __5 Indicators that you may be called to Stewardship Ministry__

*1. YOU'VE GOT A FINANCIAL STEWARDSHIP STORY*

After connecting with hundreds of people with a passion for financial stewardship, there's one thing that is true about each one. Every one of them has a financial stewardship story.

Some were in terrible financial situations, chasing the American Dream and having the debt to prove it before God revealed to them His biblical financial principles, which led them to financial and spiritual freedom. Others were raised by parents who had taught them these Biblical principles. Still, others didn't even realize they were in bondage to money until someone (a stewardship champion) offered them an option to attend a class or small group and study this topic.

Every person that I've met who is passionate about this topic has a powerful story. Maybe you do too. God doesn't waste anything. __If you've had to fight your way out of a financial mess and you have the scars to prove it, or you've been trained as a good steward by others, God intends to use it.__

*2. YOU'VE MADE A CONSCIOUS DECISION WHICH MASTER YOU WILL SERVE*

The first and most important principle of Biblical stewardship is ownership. Simply put, God owns everything and supplies everything for our lives. Therefore, our role is not the role of an owner but that of a steward. We are stewards (managers), not owners of everything we have in our possession.

The only way you and I can get this owner/steward relationship right is when we no longer believe money, or anything it can buy, will bring us joy and fulfillment. __Faithful stewards have chosen Jesus as their master and have rejected mammon (god of riches) and his promises because they know only Jesus can promise and provide what they need.__

*3. YOU SEE STEWARDSHIP AS THE FOUNDATION FOR EVERYTHING IN YOUR LIFE AND IN GOD'S KINGDOM*

Faithful stewards have a perspective that many Christians still lack. They believe that a follower of Christ can only be faithful and fruitful through good stewardship. In other words, faithfulness and one's ability to produce good fruit are directly tied to how one manages everything, especially money and wealth. To serve God well is to operate as a faithful steward.

Faithful stewards don't believe in being wasteful, even in the little things. They take seriously what Jesus said in Luke 16:10, *"If you are faithful in little things, you will be faithful in large ones. But if you are dishonest in little things, you won't be honest with greater responsibilities."* To please their master, they strive to use their time, talent, and treasure to further His kingdom.

*4. OTHERS SEE YOU AS SOMEONE WHO HAS PRACTICAL AS WELL AS SPIRITUAL WISDOM ABOUT FINANCES*

When you're good at something, people notice. Whether you've been raised with sound stewardship principles or you've learned them through trial and error, people notice because, for many of them, finances are a struggle. Your knowledge and your faithfulness to live out these principles stand out.

It's been my personal experience that money is always of interest to most people no matter the environment. I've been on airplanes, lunch breaks with coworkers, walking, dining, or driving with friends, and whenever the topic turns to money, there's always an increased interest and participation.

Today, perhaps more than any other time in history, people need to understand God's financial principles because the world is full of distractions and material goods, which can quickly become idols that capture our attention and make us slaves to them. Those who have spiritual wisdom regarding money and wealth and how God desires for us to use them can teach and equip others to gain this wisdom.

*5. THE TOPIC OF FINANCIAL STEWARDSHIP CONSTANTLY COMES UP IN EVERYDAY CONVERSATIONS*

When something extraordinary happens in your life, you can't help but share it. I remember when I became aware of God's financial principles and started applying them to my life. As I experienced peace and breakthrough, I wanted to share it with everybody! __I thought everyone should know and understand these principles because of the transformational impact they had on my life.__

When you're passionate about financial stewardship and you have a desire to disciple people in these principles, it keeps popping up in all types of conversations. This is not a coincidence! Because the power of this knowledge is so great and can literally change lives, God will bring you opportunities to share what He's graciously taught you in hopes that you will share it with others.

# __Conclusion__

__Financial stewardship is a ministry for those who want to teach and equip people with God's financial principles so that they may experience financial freedom and be free to live out God's plan and purpose for their lives__. If these indicators resonate with you and you believe God is calling you to be involved in this type of ministry, we'd like to help you get started.

You don't have to quit your job or go on the mission field to serve in this ministry. You can begin by volunteering at your church or in your community. And, if you have questions or would like someone to talk to, please contact us. We would love to help you as you consider the next steps.

There's a misunderstanding in Christianity about serving in church ministry--see if you're a good Stewardship fit

Are You Called to Stewardship Ministry?

Jim Henry

It’s been said that “facts are stubborn things.” Myths can be equally stubborn, but we can use facts to do away with five myths about retirement that never seem to die.

__The first myth is that setting your asset withdrawal rate for retirement is a one time thing.__ That is, planning that you can take out the often recommended 4% a year without dipping into your principal, and then never revisiting that percentage. So much can happen between now and the day you quit working that it’s prudent to periodically redo your calculation.

If you’ve already retired, or about to be, consult with your financial advisor and review your anticipated withdrawal rate. Take into account how stock prices and inflation may impact your returns. You may have to make adjustments to your retirement income.

Younger folks might want to go with a safer withdrawal rate of 3% to 4%, but it could be higher if you faithfully contribute 10 to 15% of your income to your retirement plan. Again, meeting with your advisor will help you set up a strategy that meets your goals and needs.

__The second retirement myth is that Medicare will cover all of your health care costs in retirement.__ It’s a very helpful program for many retirees, but it was never intended to cover 100% of health care costs. Deductibles and copayments can be high and Medicare doesn’t cover dental, vision and hearing conditions.

You need to factor in the cost of a Medigap policy or a Medicare Advantage Plan from a private company to supplement Medicare. That will cover the cost for Medicare Parts A, B, and C, but you also want to add Part D coverage for prescriptions.

__Perhaps the biggest retirement myth is that the Social Security program will collapse and not be there for you when you retire.__ While the program definitely has solvency issues that need to be faced, if you’re in or nearing retirement, they’re not likely to affect you.

It’s now estimated that, without changes, Social Security’s financial reserves will be able to pay full benefits until 2034. At that point, benefits would have to be decreased by about 25%. Is that likely to happen? Probably not.

It’s far more likely that Congress will overcome gridlock and implement steps to correct the problem, either by increasing payroll taxes or raising the full retirement age, or both.

However, keep in mind that Social Security was only designed to cover about 40% of your retirement income. That’s why it’s vitally important that you begin early and save as much as you can to provide the other 60%.

If your employer offers a 401k plan with matching contributions, put in enough to get the maximum match. Then put additional funds into a Roth IRA, where your withdrawals later will be tax free.

__Another retirement myth is that you can simply keep working as long as you need the money.__ The facts don’t support this and the COVID pandemic is an example. A recent survey showed that 7% of those responding retired earlier than expected due to the pandemic. Another 11% said they will now retire sooner than they had planned.

Here are two more statistics to take into account. Nearly 25% of people in their 20s will become disabled before reaching full retirement age at 67 and nearly 70% of people over 65 will need long term care at some point during retirement. The bottom line, save as much as you can, as early as you can, and then get long term care insurance when you near age 60.

__The last retirement myth is that you can simply alter your lifestyle in retirement so you won’t run out of money.__ Trimming your budget is always a wise idea, but you may not find it as easy as you think for several reasons.

You’ll have more time on your hands to socialize, which can lead to overspending. There’s also a temptation to take more trips,  especially if grandchildren live out of town. You might want to pursue a hobby that leads to unplanned spending.

Then there’s inflation, which Ronald Reagan called, “the cruelest tax of all.” Right now, the Federal Reserve is predicting 2% annual inflation for several years into the future. That might not seem like much, but that’s a *compounding* rate that will erode the buying power of your dollars over time.

Again, your financial advisor can help you come up with a strategy that takes inflation into account and that will likely involve keeping some of your portfolio in the stock market even after retirement.

Now you have the facts you need to prepare for whatever lies ahead.

__[Listen](https://www.moneywise.org/moneywise/5-retirement-myths-2339)__ to the related podcast on this topic.

Myths can be stubborn, but we can use facts to do away with five myths about retirement that never seem to die.

5 Retirement Myths

When it comes to saving for college, the 529 plan has become the account of choice and it’s easy to see why. Account benefits include: no income limits to restrict people from opening such an account, liberal contribution limits, state income tax deductions or credits for a portion of contributions in many states, tax-free portfolio growth as long as withdrawals are used for qualified education expenses, and very little impact on financial aid eligibility.

However, for some families, there’s another way to save for college on a tax-advantaged basis. While it comes with significant restrictions, it also comes with one very appealing advantage over a 529 plan account. “It” is a Coverdell education savings account, named for the late Sen. Paul Coverdell of Georgia.

Since its introduction in 1997 as an “education IRA,” the account has been renamed, revamped, and seemingly relegated to the dust bin. But reports of its death have been greatly exaggerated. While the amount of assets in such accounts is a small fraction of that in 529 plans ($7 billion vs. $425 billion, according to the Education Data Initiative), the Coverdell is still alive and kicking. Qualifying families with college-bound kids under roof would be wise to consider using it — not as a replacement for a 529 plan account, but as a supplement.
### 
## __Coverdell pros & cons__

To be sure, the Coverdell has its downsides. First is a very restrictive contribution limit of just $2,000 per child per year. Second, there are income limits that restrict who can utilize such accounts. In order to make a full $2,000 contribution, married couples that file their tax returns jointly need to have modified adjusted gross income (MAGI) below $190,000. From there, as income rises, the contribution ceiling lowers. At $220,000 of income, a Coverdell is no longer an option. Single parents need to make less than $95,000, with contributions completely phased out by the time MAGI hits $110,000. The third strike against Coverdell ESAs is that while investment gains are tax-free as long as the money is used for qualified education expenses, there are no deductions or credits available for contributions.

However, for those who qualify, the Coverdell has one very significant advantage over a 529 plan account: A much broader assortment of investment choices. Whereas 529 plans are typically limited to age-based investment portfolios that work similarly to target-date retirement funds, as well as a limited menu of individual mutual funds, Coverdell account balances may be invested in most investments offered by the sponsoring broker. That makes the Coverdell perfectly suited to SMI’s strategies. Plus, whereas 529 plan accounts permit investment changes just twice per year, there are no such restrictions with a Coverdell. That, too, works in favor of those wanting to follow an SMI strategy with Coverdell money.

![](https://dcktxkaneetr8.cloudfront.net/2022/06/l3-compare-529.png)

## __Details, details__

Just as with a 529 plan account, money in a Coverdell ESA, even if owned by a dependent student, is considered a parental asset. As such, only 5.64% of the balance above $10,000 is factored into the financial aid formula.

One other difference between Coverdell ESAs and 529 plan accounts is that contributions to a Coverdell must stop once a beneficiary reaches age 18 whereas contributions to a 529 plan account may continue.

One advantage Coverdell ESAs *used to have* over 529 plan accounts was that money in such accounts could be used not just for college expenses, but for qualified elementary and secondary education expenses as well. Today, both Coverdell and 529 plan account money may be used for all such expenses. However, 529 plan account holders are limited to using a maximum of $10,000 for K-12 expenses. There is no cap on the amount of Coverdell money that can be used for those purposes.

SMI-recommended brokers that offer Coverdell accounts include Schwab, E-Trade, and TD Ameritrade.

For SMI members who are saving for college and trying to figure out the optimal way to use a Coverdell ESA and a 529 plan account, here’s SMI’s guidance. If you live in a state that provides a state tax deduction or credit for 529 plan contributions, start there, contributing up to the amount that’s eligible for that tax break. Then use a Coverdell ESA for additional contributions so that you can follow your SMI strategy of choice with that account. If you want to make further contributions, add more to your 529 plan account.

If your state does not provide a tax benefit for 529 plan contributions, start with a Coverdell. Once you hit the $2,000 annual limit per child, make any additional contributions to a 529 plan account.

Pairing a Coverdell ESA with a 529 plan account is the optimal way to save for college with the best combination of tax breaks and the flexibility to use an SMI strategy to manage at least a portion of your college portfolio.

Personal Finance

For some families, there’s another way to save for college on a tax-advantaged basis.

The Coverdell ESA – Still a Good Way to Save for College

## For most people, credit cards are a part of everyday life. We *think* we know everything about them, but often, that's not true. Here are several things you may want to brush up on:

The rewards most credit cards offer are really a double-edge sword. Sure, they’re nice.  Who doesn’t want to earn a free airline ticket or get 2 to 5-percent cash back on purchases?

But the *value* of those rewards is quickly gobbled up if you fail to handle your credit cards properly. The only way to do that is by paying them off, *in full*, every month. If you don’t, the interest you pay will quickly add up to more than any rewards. That's why credit card companies don’t mind handing them out. It’s a big net gain for them.

The next thing you might not know is that a credit card won’t save you if you have a financial setback, such as a job loss or the need to replace an expensive item. Believing it *will* prevents you from saving up an emergency fund.

## If you don’t have money on hand to meet an emergency, you have to borrow, usually by using a credit card, at very high interest. Twenty-eight percent isn’t uncommon.

Start saving now to avoid that. Set a goal of $1500, then work your way up to one month’s living expenses. Keep going until you have three to six months’ worth in the bank. Never rely on a credit card for emergencies.

The next thing you may not know about that piece of plastic in your wallet is that you don't need it to shop online or rent a car. Once, that was probably true for renting a car, but it’s never been the case for buying online. In most cases, a debit card will work just fine.

In the case of a car rental, the company will probably put a hold of $500 on your debit card, just as they would with a credit card. You have to make sure you have at least that much in the bank, or they won’t hand you the keys.

You also don’t need a credit card to get a “reward.”  Let me explain. You can give it to yourself by using cash instead of plastic. Studies show you’ll save 10 to 30-percent on spending just by using cash. That’s because you know it’s “real money” out of your pocket. You naturally spend less and safe to say, you’ll *never* get 30-percent cash back from your credit card company.

The next thing you may not know is that having a store credit card, in sadly too many cases, won’t result in big savings. It may come with a great introductory offer, such as a 10 or 15-percent discount on your first purchase when you sign up.

The problem is that many people take the discount, but then don’t pay off the balance each month. They’re stuck with huge interest payments, wiping out any savings.

## Store credit cards have some of the highest interest rates out there. They may actually make more money *in interest* than they do selling things.

The final thing you may not know about credit cards is that you don’t need one to build credit. You can build a credit history just by paying your bills on time. Depending on your income, of course, you may even qualify for a mortgage by paying your rent, utilities and perhaps a car loan on time every month.

You may want to check with your landlord about having your payments reported to the credit bureaus. They won’t necessarily do it, but they do have that option. You can also  pay a service to report them for you.

Keep in mind, however, that the reverse is also true. You can *ruin* your credit by *not* paying your bills on time.

__There are your things to know about credit cards. We hope they help you use them wisely.__

You can also __[listen](https://www.moneywise.org/search?q=What%20You%20Don%E2%80%99t%20Know%20About%20Credit%20Cards&videos=true&articles=true&podcasts=true&posts=true&groups=true&events=true&support=true)__ to the related podcast on this topic.

We think we know everything about them, but often, that's not true. Here are several things you may want to brush up on.

What You Don’t Know About Credit Cards

The answer may seem obvious, but Ron Blue shares his unique insight and risks to consider.

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5 Things My Parents Taught Me About Money

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