Financial stewardship tips for Christians
by Nnamdi Udeze
How do we deal with your finances as Christians? If you grew up in a church like I did, you must have heard someone talk about being a good steward, especially with our finances, and we have given many interpretations to it over the years.
How do we handle money as Christians? If you asked this question in a room full of Christians, you would most likely hear a variety of answers.
In this piece, we'll examine what it
truly means to be a good steward of money, and how, while it sounds great in
church, what does it actually means in your day-to-day life.
What is stewardship
The term "stewardship" is derived from an Old English word that meant "care for" or "manage." A steward is someone who administers another person's property or possessions.
As an example, consider a business
owner who hires a manager to handle the day-to-day operations of the company;
the manager is not the owner but a steward who is supposed to run the place
well.
Many passages in the Bible discuss being excellent and faithful stewards. Here are a couple such examples:
1 Peter 4:10 "As each one has received a gift, minister it to one another, as good stewards of the manifold grace of God." (NIV)
We often act as if we are meant to be stewards of everything but our finances, but we are called and empowered by grace to be good and faithful stewards of all aspects of our lives, including our finances.
Luke 16:10-13 “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. 11 So if you have not been
trustworthy in handling worldly wealth, who will trust you with true riches? 12
And if you have not been trustworthy with someone else’s property, who will
give you property of your own? 13 “No one can serve two masters. Either you
will hate the one and love the other, or you will be devoted to the one and
despise the other. You cannot serve both God and money (NIV)
Jesus calls our finances little and worldly wealth, let's look at some biblical truths about stewardship and money
Biblical truths about stewardship and money
When we talk about financial
stewardship it's not about what you have but how you steward what you have and
this starts with the heart.
- What is the condition of your heart? 1 Corinthians 13:3. Growing up, we learnt practical financial realities such as giving, but without the right heart and your heart being in the right place, it all comes to nothing. The place of prayer and fellowship assists us in maintaining the right motive.
- God is the source. Deut 8:18. Do you believe you deserve your pay or are you grateful to God for providing it? Do you believe it is your money or His?
This is the thinking and attitude of a steward: it is not mine, but God's. That means you have the mindset of seeking his thoughts on the resources in your possession. Abraham's attitude was one that always saw God as his source, as seen by how he presented Lot with an option of where to settle, as well as how he responded to the Kings of Sodom following the slaughter of kings.
From our reading we see that God has given us the ability (health, sound mind serenity) to create wealth; nevertheless, don't fall into the trap of believing that it is all up to you and your wisdom, intelligence, and so on. Stewardship acknowledges that everything comes from God's hand.
What it means to be a good steward
Spiritual Principles of stewardship
- You must be generous. 2 Corinthians 9:8 We are blessed to be a blessing; we see a nice example in 2 Cor 8 where Paul made a request to the Corinthian church to give and the church's reaction was that of a steward; another example for us is the church in Philippa who always provided to Paul's needs.
According to 2 Cor 9:8, we are supplied for good deeds. Our good works please God and create a difference in the lives of others. We must recognize that the true purpose of money is to give. Because your father is a giver, you must be one as well. We are also encouraged to give joyfully, abundantly, and lovingly.
Our giving is a response to the ultimate giver, and there are many methods to give, including donating for the propagation of the gospel, giving to family, pastors and leaders, and other believers, particularly the poor.
- Seek God's guidance. If you ask individuals or social media about how to manage your finances, you will be bombarded with varied ideas, some of which will be opposed to godly advice. As stewards, we must constantly seek God's advice on our finances.
- Guard against greed. For the love of money is the root of all evils. Some have drifted away from the faith and pierced themselves with many pangs because of this yearning. 1st Timothy 6:10
Today's culture is one of materialism; it's a pandemic, yet the best defence against materialism is contentment. Being content does not imply becoming complacent.It is critical for believers to not only protect against greed but also to recognize it as sin and utterly reject it. We must prioritize Christ in all aspects of our lives, including our finances.
Pray and seek the Holy Spirit's assistance in guarding your heart against the love of money.
Practical Principles of stewardship
- You Need a Budget
“Is there anyone here who, planning to
build a new house, doesn’t first sit down and figure the cost so you’ll know if
you can complete it?” Luke 14:28-30 MSG
Financial stewardship entails planning
and budgeting, and the Bible urges us to do so. A budget serves only this
purpose. Many individuals have a misunderstanding of what a budget is. A budget
is forward-looking rather than backward-looking.
This means that if Nancy earns $3,000,
she should consider how she should spend it. Asking this question within the
context of what we've just discussed (being a giver, seeking God's guidance,
knowing the source of your income), you can then establish a plan before the money
hits your account. Congratulations on creating a budget.
Make a budget today using whichever
tool you are most comfortable with, and there are various tools available,
ranging from apps to spreadsheets to just a pen and paper. We have created a
budgeting step-by-step guide.
If you already have a budget and it
doesn't seem to be working. You can find out why here
- Pay your Debt/Avoid debt
So pay everyone what you owe them. Pay
the taxes you owe, pay the duties you are charged, give respect to those you
should respect, and honor those you should honor. Romans 13:7 CEB
“The rich rules over the
poor, and the borrower is the slave of the lender.
Debt might feel suffocating and, in
most situations, appear to be hopeless, but there is hope. The first step is to
decide in your heart that you will pay; the road will be difficult but stay on the path.
The Bible also instructs us to pay our
bills and commitments, whether they are taxes, credit cards, loans, or a
mixture of all of them.
- Save For The Future
A good man leaves an inheritance to
his children’s children. Proverbs 13:22
We learnt this through Joseph, who was
a good and faithful steward from his days in Potipher's house to the prison and
finally as Prime Minister, exemplifying everything we discussed previously.
There are several reasons to put money
aside for the future. You could be saving for retirement, college tuition for
your children, your next house or car, a dream vacation, or any number of other
reasons.
Joseph, as a wise steward, conserved
grain during the years of plenty to help the entire country and even those
beyond the country survive a terrible seven-year famine.
Most Christians do not save anything
and instead spend everything. However, we see that it is assumed that you have
a storehouse. Many of us have learned to contribute to the church and to others, as
well as to spend to pay our bills, but we often overlook saving.
It is quite sensible to set aside a
percentage of each salary for savings; these savings may grow to the point where
you leave wealth for your descendants.
- Diversify your investment portfolio
But divide your investments among many
places, for you do not know what risks might lie ahead. Ecclesiastes 11:2 NLT
This scripture explains why it is
important to diversify your investments. A disastrous investment can happen to
almost any sort of investment. We don't have a crystal ball to predict the
future of a specific investment or industry investment. So it makes sense to
place money into a variety of investments so that a single tragedy does not
wipe you out.
This is why I encourage everyone to
invest in index funds like the S&P 500 or a global index fund. Learn about
how to invest in index funds here
About Nnamdi
Nnamdi writes for The Wealthy Post. He
believes that in order to build wealth; you do not need to be an expert. That
is why he started blogging: to improve his finances, document his learnings and
experiences, and assist others in improving their finances by taking action and
developing good money habits.
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