• Biblical Finance Class - Living Part 4

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    Have you ever wondered how to obtain good financial advice? Are you skeptical trusting financial people? Biblical Finance Class - Living Part 4 video speaks about the importance and the "how to" to obtain great financial counsel. Checkout the video below:

    From the video you watched there are four points that I'd like to expand on about obtaining solid counselors for your personal finances. Here are some ways to be able to seek the right people to counsel you for your finances:

    1) Admitting You Need Help

    This can be difficult for anyone in any given aspect of your life but it is essential in making a change in your life. Admitting to yourself that you need help with your money may cause you to swallow your pride but remember, "Pride goes before destruction, a haughty spirit before a fall." (Proverbs 16:18 NIV). Admitting you need help doesn't mean you are dumb or weak, it actually illustrates wisdom and strength showing that you realize there is something you are missing. Once you come to terms with needing assistance, which for us guys can be hard sometimes if I'm being honest, then that is the first step in getting better with money. Remember, most of personal finances, about 80%, is behavior not numbers. So, as your mindset changes about needing help with money that is a key component in your money changing. Admitting you need help is about 50% of the battle.

    2) Pray

    For those of us that pray, asking for divine guidance and direction is an interracial part in arriving at the destination you seek. It may seem strange that money can be a topic for prayer but remember money and possessions are mentioned about 2,000 plus times in the Bible. If it's mentioned that many times, why would you leave it out of your prayer topics? Once you can admit you need help with your personal finances asking God for direction on who or what is the correct avenue is very beneficial. Even though you may not know how God will do it, have faith that He will give you an answers. As my wife so eloquently tells me from time to time, "God got ya!" .

    3) Asking for Advice

    Asking for advice can be a good way to help you make wise money decisions but remember, ask people for advice who are doing well with their personal finances. If they "know a guy", have a great stock that is sure to make money, or want you to invest in bitcoin but can't even explain it to you, you may want to look else where for your advice. I would target people you may know who have good money habits and ask them questions about how they handle money. You should ask them if they have a team of financial counselors, advisers, coaches, or tax prepares as well. Decrement is key when asking for advice and interconnects with step 2 above. If you are unable to find those who have good advice it will make step 4 below that much more critical.

    4) Interview Experts

    Once you get to the point where you are ready to seek a financial advisor, a coach, a tax person, etc. this is the time to treat your money like you are the manager... because you are! Good financial advice is worth the cost in most cases but it's important that you feel comfortable with the one advising you. Before you select someone, interview at least three experts in the same field. Don't select the first one you see, I've done that before with a contractor and things did not end well. Here are some interview questions you may want to consider:

    • What is your experience?
    • How long have you been doing this type of work?
    • How are you compensated?
    • Do you have any references?
    • What are some specific ways you've helped your clients do _______? 
    These questions are a good start but I believe there are so many others that can help you determine what expert is the right fit for you.

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    "Where you choose Faith over Fear for your Finances"

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