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Six Transcendent Principles

October 18, 2017

Fall is always a special time in the year; it is a time when everything seems to be new again. The kids go back to school, study groups start again and even the season is changing. Once we are settled into a comfortable routine, another season comes upon us - the investment season. For some this is a routine matter to be dealt with, for others it’s fun and exciting as we review their financial plan to ensure they are on track. In every review we look at the investments that are supporting the plan to see if they have met expectations or if changes
are required.

Of course there are financial measurements used to evaluate our finances but what about the topic of stewardship? What is stewardship really and how do we know we are on track? Beyond the obvious which is tithing, is money management only about numbers and lifestyle or is there more? Can we measure those items and set goals? As always Christian people look to the Bible for how we should go. According to the Kingdom Advisors® designation program there are more than 2,300 verses in the Bible that relate to the use of money. Wow!

Using Google, the word principles is defined as “a fundamental truth or proposition that serves as the foundation for a system of belief or behavior or for a chain of reasoning”. Kingdom Advisors® instill that there are six transcendent money management principles. Most delightfully these principles read like any other finance textbook. To put it bluntly they make sense but as Christians we also find reference to our purpose there.

The 6 Transcendent Money Management Principles are:Spend less than you earn 

  • 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)
  • Develop and maintain an eternal perspective (Psalm 24)
  • Rejoice in generosity (2 Corinthians 8-9)

One critical principle that deserves special mention is that God appoints resources to each of us to manage. We know this by reading the story of the talents in Mathew 25:14-30. To be clear, I believe we can interpret this to mean that all decisions belong to and must remain with you. It is equally as important to be on the same page as spouses in regard to managing your money. Not only are these items biblical, they are also well established financial planning industry principles. So how do we get there? Once again the Bible has direction for us. Luke 14:28 recommends that we examine the cost if we wanted to build a building, i.e. evaluate and seek information to improve success. Further verses in regard to advice can be found in Proverbs 11:14 and Proverbs 19:20. So whom should you seek counsel from in this regard? The Bible teaches that wisdom begins with knowledge of God in Proverbs 9:10. Biblically sound advisors with professional accreditation (or are working toward it) are credible resources to consult. Christian Credit Union supports the Certified Financial Planner® designation and our advisors are mandated to have it, or to acquire it, in a certain time line.

You’ve read in a previous newsletter that our Credit Union has proposed to change our bylaw from its focus in the Reformed Christian Community. Instead we want to focus on promoting Biblical Stewardship in the entire Christian Community. Biblical Stewardship is something that can be defined and stated. This focus and our calling to promote it is one key difference in our Credit Union. We believe this call requires credible advisors technically as well as biblically. The Bible is seemingly endless with rich advice on stewardship and I’ll continue to write more about it as I study for the Certified Kingdom Advisor® designation.

On behalf of the planning team David, Rob and I are blessed to serve you.

Carol Haayema, CFP®
Senior Financial Advisor
Christian Credit Union

* Kingdom Advisors is a network of Christian advisors throughout Canada and United States who seek to promote Biblical wisdom in their practices. References have been made to their resources.

*Mutual funds and financial planning are offered through Credential Asset Management Inc.

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