Broker Check

Applying Biblical Truths to Financial Decisions

“The way of a fool is right in his own eyes, But a wise man is he who listens to counsel.”   Proverbs 12:15

“Plans fail for lack of counsel, but with many advisers they succeed.” Proverbs 15:22

The importance of the Bible verses above is two-fold. First, is my personal belief that I must always be listening for wisdom and ideas from others; seeking new ideas, better ways of serving my clients. The second is that I firmly believe the individual is best served by working with an investment adviser. Investing successfully is a full time job. When your future retirement and the financial security of your family is at risk, you need to call in knowledgeable advisers who can help you succeed. While there can never be any guarantee that an adviser will be successful, properly selected, these individuals can be an important part of your future.

How do you select the right adviser? If you are married or have a long-time commitment to another individual, that person should be one of your counselors. An objective spouse who is not emotionally excited about or biased against a particular financial decision can be invaluable. I also suggest that you pray and ask God to give you his wisdom in weighing the advice you have received. Financial decisions are by and large long-term decisions. Seek counsel from two or three Godly financial advisers and from your spouse. Proceed only after you and your spouse have spent considerable time in prayer, and God has given you his peace and his wisdom.

God provides many financial principles that can help individuals achieve financial security. Among the cautions He offers are:

  1. No savings for an emergency (Proverbs 21:20)
  2. Taking on too much debt (Proverbs 22:7).
  3. Cosigning a loan, for which the Bible uses the term “striking hands in pledge” (Proverbs 17:18; 22:26, 27)
  4. Getting involved in a financial transaction they did not understand (Proverbs 19:2) and that was not biblically diversified (Ecclesiastes 11:1,2)

Many times, financial stress can be avoided by following the counsel and wisdom from the Bible.   God promises great blessings to the believer who meditates on and follows his Word.

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