What is Biblical Financial Planning?
Biblical Financial Planning brings God’s Word about money management into your everyday decisions around saving, spending and giving. It’s about adopting the mindset of a steward of the resources that have been given to us and supporting the things that are close to the heart of God.
Biblical financial planning starts with understanding there are five transcendent money management principles:
- Spend less than you earn. (Proverbs 13:11)
- Avoid the use of debt. (Proverbs 22:7)
- Build liquidity. (Proverbs 6:6-8)
- Set long-term goals. Philippians 3:14)
- Rejoice in generosity. (2 Corinthians 8-9)
It continues with understanding there are only five uses of money, as outlined in the pie. A change in one piece of the pie affects all the other pieces, which means that financial priorities are simultaneous and competing, not sequential. Your decisions will be based on your priorities and convictions.