There’s something truly beautiful about fall, isn’t there? It’s a season of reflection, gratitude, and getting ready for the festivities ahead. Amidst the beauty of changing leaves and the anticipation of upcoming holidays, let’s take a moment to reflect on a crucial aspect of our lives that deserves attention – our finances. Conversations about money can trigger all kinds of emotions, but they can also help us share valuable wisdom, prepare for emergencies, and build lasting legacies.
For where your treasure is, there your heart will be also – Matthew 6:21
God cares about how money engages our minds and how it can invade our hearts. If He cares about the role money plays in our lives, then we should care, too.
Open Communication – Who Needs It?
Open and honest communication about financial matters is the bedrock of financial stability, regardless of your relationship status. No matter our age or circumstances, many of us wonder where we can start when we decide to focus on our finances. As Dr. Anderson always says, “Comprehension begins with conversation.”
Prioritize open and honest communication about financial goals and challenges. Work as a team, creating a shared financial vision, setting priorities, and making informed decisions. Regular financial check-ins, joint budgeting sessions, and discussing major expenses strengthen a married couple’s financial foundation and reduce stress in their marriage and family life.
Single individuals also benefit from open communication when setting financial goals and managing finances independently. Seek advice from trusted friends, family, or financial advisors when making important financial decisions. Joining financial forums or support groups can provide valuable insights and accountability.
Divorced/ Widowed Individuals
After a divorce or the death of a spouse, reassess your financial situation and goals. Open communication with financial professionals can help navigate any financial challenges. Discuss your financial goals, create a budget reflecting your new circumstances, and consider seeking legal advice to protect your financial interests. Open communication fosters transparency, trust, and a shared commitment to financial well-being. It empowers you and your family to make informed decisions, avoid conflicts, and work toward a stable financial future.
The Bible provides profound insights into money management and financial stability. One of its most profound principles is emphasizing giving a tenth of one’s income back to God. Surprisingly, the practice of tithing fosters financial stability by promoting generosity, stewardship, trust in God’s provision, and a sense of community – all vital for sound financial management.
“Bring the whole tithe into the storehouse, that there may be food in my house. Test me in this,” says the Lord Almighty, “and see if I will not throw open the floodgates of heaven and pour out so much blessing that there will not be room enough to store it” – Malachi 3:10 NIV
God is our provider (Psalm 65:9). All that we have is His (Deuteronomy 10:14). God is clear when He promises to bless us when we follow His financial model.
Practical Tips for Financial Stability
I am sure I don’t have to convince you that financial stability is a worthy goal. The question is where do you start? Here are three practical steps to bolster your financial stability:
1) Create a Detailed Budget
- Develop a budget that tracks your income, expenses, savings, and debt repayment. Regularly review your budget and adjust it as needed.
2) Build an Emergency Fund
- Set aside funds for unexpected expenses to provide peace of mind and prevent financial crises.
3) Invest Wisely
- Explore investment options aligned with your financial goals and risk tolerance. Diversify your investments and consider seeking advice from a financial advisor.
How Can Bridgeway Help?
Planning for your financial future includes addressing the critical matter of wills and trusts. Wills and trusts are essential tools that ensure your assets are distributed according to your wishes. They provide protection, minimize confusion, and help avoid lengthy legal battles for your loved ones. Bridgeway has partnered with Financial Planning Ministry which is available to provide financial guidance and help you understand the significance of wills and trusts in securing your family’s financial future at no cost to you. Thanksgiving is just around the corner—a reminder of gratitude and generosity. These values are aligned with wise money management. Approach your finances with thankfulness and a commitment to stewardship.
Join us on Monday, December 4 at 7:00 pm for an online seminar on Wills & Trusts. After you attend the seminar, you will be given a link to register for free financial planning with a qualified advisor from Financial Planning Ministry. To learn more, go to bridgeway.cc/financialplanning.
Bridgeway cares about your peace of mind and we are honored to partner with you as you plan for your family’s future.
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