Financial security may be impossible, but financial peace of mind isnt. Financial peace of mind requires doing the things that can reduce financial risks (saving, limiting debt, and diversifying investments) and accepting the fact that they may not work. It also requires a generous attitude. It doesnt take a genius to realize that you can do two things with money, save it or spend it. Too much saving is hoarding and too much spending is self-indulgence. By limiting what you save for yourself and spend on yourself you have money left over to be generous and, in an odd way, this selflessness may be the most important part of financial peace of mind and even financial security.
Command those who are rich in this present world not to be arrogant nor to put their hope in wealth, which is so uncertain, but to put their hope in God, who richly provides us with everything for our enjoyment. Command them to do good, to be rich in good deeds, and to be generous and willing to shareBe generous: Invest in acts of charity. Charity yields high returns. Don't hoard your goods; spread them around. Be a blessing to others. This could be your last night. (I Tim. 6:17, 18 NIV; Ecc. 11:1-2 – Msg.)
A finance professor at the local university used to have me talk to his graduating seniors. My speech was different from the usual, This is how you get rich with a finance degree speech. I would ask them who they thought was the most financially secure person in the world. Back then, the two most common answers were Donald Trump and the Shah of Iran. I replied by offering the name of Mother Theresa. If she got sick there would be a plane waiting to take her to any hospital in the world. She could eat in any restaurant and sleep in any hotel and no one would dare charge her. Trump and the Shah could lose what they had (the Shah did) but Mother Theresa couldnt lose the goodwill she had accumulated.
Cast your bread upon the waters, for after many days you will find it againGive and [gifts] will be given to you; good measure, pressed down, shaken together, and running over, will they pour into [the pouch formed by] the bosom [of your robe and used as a bag]. For with the measure you deal out [with the measure you use when you confer benefits on others], it will be measured back to you. (Ecc. 11:2 NIV; Lk. 6:38 Amp.)
Financial markets are scary right now, but dont lose hope. As my grandfather, who got his private bank through the Great Depression used to remind me, Hard times mean good times are coming. So there is always hope, but even more important than hope is the peace of mind that comes from knowing you cant lose what you give away.
Jesus: In me you may have peace. In this world you will have trouble. But take heart! I have overcome the world." (Jn. 16:33)
1 Credit Mr. Guerdon Ely Financial Planner, Chico, CA; Scriptures added by Dwight Hill