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Written By: A.B. Ridgeway, EA, MBA, CPWA®️
Navigating personal finances can be complex, especially when trying to align your financial decisions with your Christian faith. As a Christian Financial Advisor, I have witnessed countless believers eager to share their knowledge about managing money. They often emphasize the importance of saving for retirement, living within their means, and avoiding unnecessary debt. However, when it comes time to engage with a financial advisor or reassess their own financial habits, many feel uncertain.
You may find that your financial situation does not always reflect the biblical principles you hold dear. This feeling is common and, frankly, normal. The Bible doesn’t judge you for your current financial state; instead, it offers wisdom on how you can better your situation and enrich your financial journey.
The Importance of Execution
Many people struggle to connect what they know about finances with their actions. Understanding concepts like budgeting or saving is one thing, but implementing those strategies in your life can feel daunting. As stated in 2 Timothy 2:15, "Do your best to present yourself to God as one approved, a worker who has no need to be ashamed, rightly handling the word of truth." This verse reminds us that living out the truth of God’s Word, particularly in financial matters, is crucial.
For example, you might be aware that maintaining a budget is essential for financial health, yet you still find it challenging to create or adhere to one. This gap between knowledge and action can lead to feelings of shame, but remember that the goal is progress, not perfection.
Embracing Your Financial Reality
Each individual's financial situation is unique. Whether you are in significant debt or are fortunate enough to be planning for a comfortable retirement, your concerns will differ significantly. Common questions you may face include:
How can I secure my children’s future financially?
Will I have enough money to enjoy my desired lifestyle?
Am I doing what I need to ensure I don’t run out of resources during retirement?
These questions resonate with many individuals, regardless of their financial situation. Often, it is not a lack of knowledge that stifles action, but rather a lack of clarity on how to connect your current finances with your aspirations.
The Vision Problem
Among many of my clients, a consistent theme surfaces: it is not necessarily financial issues they face, but vision issues. Many individuals find it hard to align their current financial resources with their life goals. If this sounds familiar, you are not alone; feeling stuck or directionless can prevent you from realizing your potential.
Creating a solid financial plan is essential. This plan serves as a bridge between your current situation and your future dreams, turning your financial knowledge into actionable strategies. Remember, effective financial planning is not about predicting the future; it's about seeing the present with clarity.
Clarifying Your Christian Financial Goals
With your awareness of the need for execution and clarity, it's time to refine your financial vision. Start by asking yourself, "What do I genuinely want to achieve financially?" Understanding what a fulfilling life looks like for you is critical.
Are you aiming to eliminate debt?
Are you focused on funding your children’s education or preparing for a comfortable retirement?
Perhaps you wish to support causes that matter deeply to you. Clearly defining these goals is vital.
The more specific you are about your objectives, the easier it becomes to outline a plan. For example, if your goal is to save for a child's college education that costs an average of $30,000 today, you need to create a strategy to save or invest towards this target over time, instead of a rush decision, depleting your savings account.
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Creating a Financial Plan
A well-rounded financial plan includes several key components that guide your financial journey. As you create this plan, consider these essential steps:
Assess Your Current Financial Position: Analyze your income, expenses, debt, and assets. Awareness is the first step to change.
Set Clear Financial Goals: Determine what success looks like for you in the short and long term.
Draft a Budget: Create a budget that aligns with your values and priorities. It should act as a roadmap for allocating your finances toward your goals.
Build an Emergency Fund: Aim to have three to six months’ living expenses saved to provide a cushion against unexpected financial challenges.
Invest Wisely: Explore different investment opportunities that suit your risk tolerance and financial goals. Consulting a financial advisor can help clarify your options.
Review and Adjust: Your life circumstances will change, and so should your financial plan. Regularly evaluate your progress and adjust your strategy as needed.
By following these steps methodically, you can make the application of your financial knowledge much more attainable.
The Role of a Financial Advisor
Working with a financial advisor can be incredibly valuable. Based on my experience, individuals who take the step to seek professional assistance often make notable strides in their financial journeys. A financial advisor provides not only expertise but accountability as well.
When you share your financial goals with an advisor, you create an opportunity for commitment. This collaboration makes progress seem more achievable. Furthermore, an advisor helps ensure that your financial choices align with your Christian values.
It's important to understand that asking for help with finances doesn’t mean you're failing. Instead, it shows a strong desire for growth and improvement. Using available resources effectively can lead to personalized strategies that fit your unique situation.
An Ongoing Journey
As you move forward on your financial path, remember you are not in this alone. Whether starting from scratch or well on your way, every forward step, however small, is cause for celebration. Embrace your financial reality and recognize that it’s perfectly acceptable to ask for help.
As you navigate this journey, you will find that the knowledge you possess can transform into effective actions. As you work to achieve your financial goals, find joy in knowing that you are harmonizing your actions with your beliefs and values.
Closing Thoughts
To sum up, bridging the divide between financial knowledge and action is a continuous journey. As a Christian Financial Advisor, I encourage you to gain clarity on your financial objectives and take tangible steps to ensure your financial practices reflect your beliefs.
While life may have its uncertainties, having a solid financial plan helps you navigate these challenges confidently. Once again, financial planning is about understanding your present situation clearly and making informed choices for the future you desire.
If you are struggling to apply this knowledge to your life, I urge you to meet with a financial advisor. Together, we will uncover pathways to financial freedom that respect both your unique circumstances and your guiding principles.
Meet A.B. Ridgeway:
A.B. Ridgeway, EA, MBA, CPWA®️ (info@abrwealthmanagement.com) is the owner and Christian Financial Advisor with A.B. Ridgeway Wealth Management. With a decade in the finance industry, his goal is to give believers clarity around the most confusing topic in the Bible, money, and tithing. A.B. Ridgeway helps tithing Christians become cheerful givers but unlocking their money-making potential, so they can prosper and be the great stewards of the wealth God has entrusted them with.
*Disclaimer: This communication is not intended as an offer or solicitation to buy, hold or sell any financial instrument or investment advisory services. Any information provided has been obtained from sources considered reliable, but we do not guarantee the accuracy or the completeness of any description of securities, markets or developments mentioned. This is strictly for information purposes. We recommend you speak with a professional financial advisor.
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