What Does God Say About Money? A Guide to accompany Financial Peace University

What Does God Say About Money? A Guide to accompany Financial Peace University

Scripture quotations marked ESV are taken from The Holy Bible, English Standard Version (ESV ) Copyright 2001 by Crossway, a publishing ministry of Good News Publishers. All rights reserved. Used by permission. Contributors Kristin Brown, Kyle Brown, Melissa Joy, Sarah Faucette, Sarah Perkins

What Does God Say About Money? A Guide to Accompany Financial Peace University

Introduction Dave Ramsey does an excellent job of helping us see the value in gaining control of and taking personal responsibility for our finances. At the Summit, we want to do all we can to help you gain control of your finances practically, but, more importantly, we want you to understand why it matters. Sure, we want you to complete the FPU course and leave with a perfect budget and an intentional plan for completing Dave Ramsey s 7 Baby Steps. But more than that, we want to help you understand God s greater plan for you. In going through this supplement to FPU, we hope you will see that God has so much more for you than a budget and a financial plan. He has more to offer than you can even imagine! We hope you will commit the next nine weeks to exploring what God says about money. This will be an incredible journey! Blair Graham Pastor of Stewardship and Generosity The Summit Church

Week 1: Super Saving The earth is the Lord s and the fullness thereof, the world and those who dwell therein, for he has founded it upon the seas and established it upon the rivers. (Psalm 24:1-2 ESV) Scripture has a lot to say about money, but a foundational teaching about money can be summed up in one word: stewardship. Whether we re talking about spending, saving, or giving, the most important thing to remember is that God owns all of it, and we are simply stewards or managers. When we realize that nothing we have belongs to us, our perspective changes in a way that makes us want to honor God with our spending. After all, it s not our money to spend! After God made Adam and Eve, he gave them the responsibility of managing the Garden of Eden and everything God had created (Genesis 1:26). The book of Proverbs includes dozens of teachings on handling money with care and wisdom. In the New Testament, Jesus boldly addressed the heart behind the issue: Do we serve God or money? You cannot serve both (Luke 16:13). Big Idea: God is ultimately the owner of everything, and he has called us to faithfully steward the resources he has entrusted to us. One clear passage on stewardship comes from the Parable of the Talents (Matthew 25:14-30). A master entrusts three servants with different amounts of money and then leaves. Upon his return, he finds that two of his servants have stewarded their resources well; they have multiplied the master s money! He praises their faithfulness. The last servant, however, buries his master s money. The master charges this servant as wicked and slothful and removes what he had given to him. Clearly the

master entrusted his servants with resources so that they would manage them wisely. Beware lest you say in your heart, My power and the might of my hand have gotten me this wealth. You shall remember the lord your God, for it is he who gives you power to get wealth. (Deuteronomy 8:17-18a) Understanding that everything belongs to the God who made us makes our faith inseparable from our finances. We are his creation. We belong to him, and so does everything that we have, including our cash, time, houses, retirement accounts, savings, debt, and vocation. We are merely managers of what God has entrusted to us. Ask God how he would have you steward your resources, and act in obedience today. Reflection 1. In what ways are you a trustworthy manager of the things God has given you? 2. What are some action steps you can take today that would reflect how God wants you to use your money?

Week 2: Relating to Money But lay up for yourselves treasures in heaven, where neither moth nor rust destroys and where thieves do not break in and steal. For where your treasure is, there your heart will be also. (Matthew 6:20-21) How do you relate to money? Are you a spender, or are you a saver? The answers to those questions can reveal what you value most. Spenders might regularly use money for hobbies, new stuff, or vacations, while savers might hoard their money for the sense of security that it brings. Scripture tells us that what we do with our money is a direct indicator of what we value above all else. We spend our money on things we care about, and we care about the things that we spend our money on! But whether we are prone to spend or save, we are all often tempted to value temporary things over eternal things. Both spenders and savers seek things that ultimately bring little long-term satisfaction. Rather than rightly seeing all of the things we have as blessings from God, given to us to invest in eternity, we often invest in earthly things, making things the ultimate priorities of our lives. Big Idea: How we handle our money reveals what we value. So how do we lay up treasures in heaven? First, reflect on the preciousness of Christ. Remember that we cannot be separated from God s love (Romans 8:38-39), no matter what we do. We know that because of his love for us, Christ died for us (Romans 5:8). We know that by his death, we were forgiven, and the payment for our sin is

complete (Colossians 2:13-14). When we meditate on these promises, our desire for things of the world will diminish. Second, invest in eternity. If you want your heart to be after the things of God, spend your money on the things of God. Give generously to the church. Support missionaries. Donate money and things to those who are in need. Ask God to give you a mind that loves to meditate on his promises. Ask him to change your heart and give you a desire for eternal things rather than earthly things. Reflection 1. What purchases do you make to fill a perceived need in your life? 2. How do biblical truths about who we are in Christ counter the lie that money represents something that can bring you satisfaction?

Week 3: Cash Flow Planning A dollar just doesn t buy what it used to, but this isn t really a new challenge. The Bible says that as fast as you can see wealth, it is gone, for suddenly it sprouts wings, flying like an eagle toward heaven (Proverbs 23:5). Unless we know how to manage cash flow, resources can quickly dwindle and leave us struggling to make ends meet. None of us would deny that God has given us all of our resources. Knowing that, we are now responsible for stewarding these resources well. Big Idea: To be a faithful steward, we must intentionally manage every dollar. The Proverbs 31 woman is an excellent example of a wise steward who had cash flow management under control. She teaches us that stewardship includes everything from our work ethic to the ways we spend, invest, and give away our money. The description of her relates how her life was filled with hard work, intentionality, and generosity. She seeks wool and flax, and works with willing hands. She is like the ships of the merchant; she brings her food from afar. She rises while it is yet night and provides food for her household and portions for her maidens. She considers a field and buys it; with the fruit of her hands she plants a vineyard. She dresses herself with strength and makes her arms strong. She perceives that her merchandise is profitable. Her lamp does not go out at night. She puts her hands to the distaff, and her hands hold the spindle. She opens her hand to the poor and reaches out her hands to the needy. She is not afraid of snow for her household, for all her household are clothed in scarlet. She makes bed coverings for herself; her clothing is fine linen and purple. Her husband is

known in the gates when he sits among the elders of the land. She makes linen garments and sells them; she delivers sashes to the merchant. Strength and dignity are her clothing, and she laughs at the time to come. She opens her mouth with wisdom, and the teaching of kindness is on her tongue. She looks well to the ways of her household and does not eat the bread of idleness (Proverbs 31:13-27). The Proverbs 31 woman prepared and looked for ways to stretch her budget. With her strong work ethic, she earned and saved where she could, which more than adequately provided for her family. And because she lived within her means, she was a blessing to her family and her community. We learn from the Proverbs 31 woman that wise planning is essential to managing our resources well and living generously for God s kingdom. Reflection 1. What steps are you taking to manage your cash flow in a God-honoring way? 2. What principles that you learn from the Proverbs 31 woman can you implement today?

Week 4: Dump Debt The rich rules over the poor, and the borrower is a slave of the lender. (Proverbs 22:7) Debt is defined as money or property which one person is obligated to pay to another. But if credit cards and loans are so normal in America today, why is debt so bad? The Bible says that if you re in debt, you are a slave to your lender. In Deuteronomy 15, the Israelites were instructed to lend but not to borrow, because God would keep his promises to bless them. Debt is bad because it reflects our discontentment and our lack of dependence on God. Big Idea: Debt reflects our sinful hearts through our discontentment, self-reliance, and impatience. The most obvious danger behind debt is that it reflects our discontentment and impatience. Want something you can t afford? Put it on a credit card. You want to buy a car today instead of waiting and saving? Take out a loan. The average American owes approximately $16,727 in credit card debt. More often than not, we build up debt because we want to live outside of our means or we re impatient to make a purchase. Rather than finding our joy in eternal things, we settle for temporary things that we think will satisfy. Another danger is that debt presumes upon tomorrow. Come now, you who say, Today or tomorrow we will go into such and such a town and spend a year there and trade and make a profit yet you do not know what tomorrow will bring. What is your life? For you are a mist that appears for a little time and then vanishes (James 4:13-14). By borrowing

money, you re assuming that you ll have the means to pay more for future payments and interest. This reflects a heart of self-reliance in the meantime and denies God an opportunity to meet your needs. Furthermore, Psalm 37:21 tells us that the wicked borrows but does not pay back. Borrowing without an intention or plan to repay is stealing. Fortunately, debt also serves as a beautiful picture of what Jesus has done for his bride. Our sin against God is so great that we could never make amends. Romans 6 says that we were once slaves to sin, but through Christ who paid our debt, we are now slaves to righteousness! Through Christ s work on the cross, we were set free from our bondage to sin and reconciled to God. You were bought with a price; do not become bondservants of men. (1 Corinthians 7:23) Note: Some people find themselves in debt because they ve come into a crisis, and they re left with bills they can t pay. If you ve lost your job or had an unexpected medical emergency and you ve used a credit card to pay your bills, don t worry you can (and should) repay your bills and get out of debt. While debts of this sort are still bad and should be paid off as soon as possible, this devotional is primarily targeted at consumer debt. Reflection 1. When you think about the relationship between debtor and lender, how does it change the way you approach financing big purchases? 2. How does the relationship between debtor and lender affect the way you view your salvation?

Week 5: Buyer Beware Be sober-minded; be watchful. Your adversary the devil prowls around like a roaring lion, seeking someone to devour. Resist him, firm in your faith, knowing that the same kinds of suffering are being experienced by your brotherhood throughout the world. And after you have suffered a little while, the God of all grace, who has called you to his eternal glory in Christ, will himself restore, confirm, strengthen, and establish you. To him be the dominion forever and ever. Amen. (1 Peter 5:8-11) This passage warns us to be on guard against temptation. Temptation to spend unwisely is all around us and comes in many forms. Consider how a marketing campaign might try to appeal to your emotions. When you allow those messages to evoke envy or discontentment in you, you are buying exactly what they are selling! If you find that advertisements trigger a similar response in you, examine your heart and, according to 1 Peter, resist the temptation. Treating yourself occasionally is not a bad thing, but look to foster gratitude in your life, rather than discontentment. Don t compare yourself or what you have to others. God tells us in 1 Timothy 6:6-8, But godliness with contentment is great gain, for we brought nothing into the world, and we cannot take anything out of the world. But if we have food and clothing, with these we will be content. Big Idea: When we focus on the blessings that God has given us, contentment and gratitude will come naturally. Compared to the jewel that is Christ Jesus, the world and its charms are meager pebbles. Ask God to give you delight in the gospel rather than

temporary things. Remember that Jesus overcame temptation (Matthew 4:1-11) and gave you the power to overcome temptations in your own life (Philippians 4:13). Reflection 1. What things are you most frequently tempted to buy? What motivates those desires in you? 2. What blessings has God given you? Spend time praising God for his goodness. He delights in knowing that we are thankful for all of our blessings.

Week 6: The Role of Insurance The plans of the diligent lead surely to abundance, but everyone who is hasty comes only to poverty. (Proverbs 21:5) But if anyone does not provide for his relatives, and especially for members of his household, he has denied the faith and is worse than an unbeliever. (1 Timothy 5:8) When we use our God-given wisdom for his purposes, it is a blessing to ourselves and to others. Wisdom means that a person knows the principles laid out in the Bible and then acts upon knowledge of those principles. The Bible says in 1 Timothy 5:8 that we should plan to take care of our families. A wise person recognizes that these plans include what will happen in emergencies. Scripture is clear that we should not be anxious about the future but it is wise to have plans in place in case something unexpected happens. These worst case scenarios can be incredibly difficult, from an emotional and financial perspective. Big Idea: Purchasing insurance is a way that God allows us to plan wisely and to love others well. Having the proper types and amounts of insurance is a wise way to care for your family. Insurance can greatly reduce the financial strain caused by an emergency, when you could be flooded with a sea of medical bills or funeral expenses. With the proper amount of insurance, you are equipping yourself and your loved ones to better navigate difficult cir-

cumstances. As we ve seen in other weeks, God wants us to steward our resources in a way that honors him, and this includes taking action steps to care for our loved ones and plan appropriately. Reflection 1. What unexpected events in your life have already affected you financially? 2. How do you balance trust in God s provision with planning for unforeseen circumstances?

Week 7: Retirement and College Planning Since its foundation, the U.S. has experienced unprecedented growth and economic prosperity. But simply turn on any radio or news station, and you ll be overcome with plenty of opportunities to think about the what-ifs of economic catastrophe. Headlines send panic when markets dip; businesses advertising gold, precious metals, ammunitions, and food preparations make gains by catering to doomsday preppers. While the Bible doesn t give us specific instructions for our 401k strategies or long-term investment planning, God does show us how to prepare wisely during years of abundance. In Genesis 41, God gave Joseph a plan to prevent a global food crisis and save his people and the surrounding nations in a coming time of hardship. Big Idea: Wise stewardship and proper planning in times of abundance allow us to be prepared for later seasons. Joseph was thirty years old when he entered the service of Pharaoh king of Egypt. And Joseph went out from the presence of Pharaoh and went through all the land of Egypt. During the seven plentiful years the earth produced abundantly, and he gathered up all the food of these seven years, which occurred in the land of Egypt, and put the food in the cities. He put in every city the food from the fields around it. And Joseph stored up grain in great abundance, like the sand of the sea, until he ceased to measure it, for it could not be measured. The seven years of plenty that occurred in the land of Egypt

came to an end, and the seven years of famine began to come, as Joseph had said. There was famine in all lands, but in all the land of Egypt there was bread. When all the land of Egypt was famished, the people cried to Pharaoh for bread. Pharaoh said to all the Egyptians, Go to Joseph. What he says to you, do. So when the famine had spread over all the land, Joseph opened all the storehouses and sold to the Egyptians, for the famine was severe in the land of Egypt. Moreover, all the earth came to Egypt to Joseph to buy grain, because the famine was severe over all the earth (Genesis 41:46-49, 53-57). Economies rise and fall in perpetual market cycles. Some seasons yield more than enough, and others require reliance on what was set aside. Joseph recognized the season of plenty and wisely saved 20 percent of everything harvested. Relying on God-given wisdom and discernment to establish systems for the coming years of difficulty, he prepared Egypt in a way that saved its people and the people of the world at that time. While our sphere of influence might be on a smaller scale, we can emulate Joseph s example in seeking God for wisdom as we save our resources and set aside what we can for the future in a way that will care for the needs of our families and anyone else with whom God calls us to share, for his glory. Reflection 1. Think about times when you have seen God provide for your life during a season of famine or financial hardship. Who or what circumstances did God use to bless you?

2. Even if you are not in a season of plenty, are you looking for opportunities to set aside resources for your future? 3. What are you willing to sacrifice today in order to invest for tomorrow?

Week 8: Real Estate and Mortgages For which of you, desiring to build a tower, does not first sit down and count the cost, whether he has enough to complete it? Otherwise, when he has laid a foundation and is not able to finish, all who see it begin to mock him, saying, This man began to build and was not able to finish. (Luke 14:28-30) In Luke 14, Jesus points out the wisdom in assessing our financial situation before making a large financial commitment. When purchasing a house, a modest mortgage allows us to lock in a fixed amount of housing expenses in the short and medium term and own a house outright in the long term. Yes, we still want to dump debt! But there is a difference between consumer debt and debt that is secured by an asset with a greater value than what is owed. Sometimes, compared to the cost of renting, buying a house is the most strategic way to leverage our finances, making it possible to respond with generosity to needs that God shows us. On the other hand, a loan that is beyond our budget is enslaving. A borrower must realize that until a debt is repaid, the borrower is a servant to the individual or institution that made the loan (Proverbs 22:7). Borrowing in excess of what one can reasonably afford can result in servitude to lenders instead of giving us freedom to be generous with God s money. Trust in the lord with all your heart, and do not lean on your own understanding. In all your ways acknowledge him, and he will make straight your paths. (Proverbs 3:5-6)

When a large purchase (like buying a home) is imminent, ask God for wisdom, sit down, and count the cost. Wait on God to show you the right decision to make. Big Idea: When faced with a decision, wait on God, and count the costs. God will not direct you to make a decision that would break your budget. As you assess your budget before making a large purchase, ask yourself: Do I have enough saved to pay cash for this purchase or make a substantial down payment? Do I have savings to cover emergencies related to this purchase (e.g., car transmission needs to be replaced, leaking water heater)? Do I have enough income to afford the mortgage payment on a house? Did my desire to purchase this item arise after I saw that someone else made a similar purchase? An answer of no to any of the first three questions suggests that God may be asking you to wait to make that purchase. If you only became interested in purchasing an item after seeing someone else with a similar item, it s likely that you don t need it but instead suffer from house fever ( car fever, etc.). Instead, wait! Ask God for the wisdom to make a good decision, and trust him to provide.

Reflection 1. How can you wait on the Lord in regard to your current and future living situation? 2. How can you wait on the Lord in regard to your plans for other major decisions like marriage, a new job, or children?

Week 9: The Great Misunderstanding He who supplies seed to the sower and bread for food will supply and multiply your seed for sowing and increase the harvest of your righteousness. You will be enriched in every way to be generous in every way, which through us will produce thanksgiving to God. For the ministry of this service is not only supplying the needs of the saints but is also overflowing in many thanksgivings to God. (2 Corinthians 9:10-12) As noted throughout the previous weeks, financial peace is not about seeking riches and abundance, having a good benefits package, living the American Dream, owning a beautiful home with a three-car garage and a perfectly manicured lawn, putting your children in the best schools, wearing top brands of clothing, and taking off frequently on dream vacations. Financial freedom for our benefit alone is the great misunderstanding of the why in getting and maintaining wealth. Big Idea: We are generous because God is generous. While wise stewardship and money management allow us to enjoy many of these earthly things, we recognize that as Christians, God s plan for his resources goes far beyond having a comfortable lifestyle for ourselves. (In fact, most obedient Christ-followers in Scripture have very uncomfortable lives!) In light of the gospel, financial freedom means God owns everything, so we are to give God our first and our best, honor him with the rest, and trust him to provide. Throughout God s Word, God asks his people to give with thanksgiving.

He is the example of the perfect generous giver. He gave us life and all that we have (Acts 17:25). He gave us the most generous gift: salvation through his own Son (John 3:16). All that we have comes from God, and we are only conduits for his blessings. When we give, we express God s supreme lordship over everything in our lives and our reliance on him rather than on money. In fact, God promises us in 2 Corinthians 9:11 that he will enrich us in every way so that we can be generous in every way. That means God calls us to generosity, not just when we get to Baby Step 7 but throughout our journey to financial peace. God continues to provide for us so that we can continue to be generous. Scripture even tells us that our generosity produces thanksgiving in others, when they see God s generosity to them through us. We are truly blessed to be a blessing! Reflection 1. What is the first and best of your money, time, and resources that you can give to God? 2. God promises to bring you joy when you obey him through giving. How can you respond to this promise?