During an interview last year, actor Daniel Craig, most famously known for his role as agent James Bond in the 007 movies, revealed that he wouldn’t be leaving an inheritance for his children.
Actors and married couple Ashton Kutcher and Mila Kunis will not be leaving one behind for their children, either. But they’re not the only ones. The list goes on…
Many of the rich and famous say they would rather give their fortune away, than leave it behind to children who’ve already lived a privileged life. But what would the Lord have us do?…
Well, the Bible says a good man leaves an inheritance for his children’s children (Proverbs 13:22).
The first time I read 1 Timothy 5:8 two years ago, I was floored. It says if you don’t provide for your family, you are considered worse than an unbeliever.
It’s important to God how we use money and possessions to provide for and influence our family. And as financial disciples, I believe the path starts with us seeking wisdom and counsel (Proverbs 24:3-7).
If you desire to follow God’s plan for your life and your families’ lives, one of the first steps is to take an account. Understand how much you have saved for emergencies and essential living. And gradually save up enough to take care of the storms when they come. A good starting point is saving $1,000, according to our founder, Howard Dayton, and many other financial experts.
Another important step? List your debts and how much you owe. Then, begin the debt snowball, as it’s coined by many in the financial industry. Paying them off, starting with the smallest debt. (If you have two debts with the same amount, start with the one carrying the higher interest.)
One reason we save and work to pay off debt is so we eliminate our burdens that hinder us from providing for our loved ones in the first place.
So, while we’re on that path, it’s wise to seek counsel from the right people. A financial advisor who would look out for your best interest, as well as your household’s, is a good place to start.
The right advisor would talk with you about financial wellbeing and your goals. Things like life insurance—one way many (including me) ensure their debts, funeral expenses and living costs will be paid for—and a will, so once we’re no longer living, our families can receive the things we feel they’d cherish and appreciate.
Now, the Bible doesn’t say we must leave our families with a gold mine. Remember, as He provides—and has always provided—for us, He simply asks us to do the same for our household. Provision is the keyword.
Compass’ Set Your House in Order financial discipleship study will help you learn more about what it means to provide for your family and how to follow God’s Word.
It teaches about organizing important documents for your loved ones, getting life insurance (and how much), a will, generosity, advisors to consider (accountant, financial advisor, attorney, insurance agent, etc.), powers of attorney, and much more.
Set Your House in Order was the first Compass small group study I did… and it changed my life.
I signed up because I needed to know what I didn’t know, if I was going to be coaching others on their finances. And to say that I learned a lot would be an understatement.
There really was a lot I did not know (there still is)! But my greatest takeaway from this study—I should call it a gift, really—was the connection I developed and continue to develop with my Savior, Jesus Christ.
I thought I knew the Lord, but I think I knew more about Him. It was during this study that I realized God was more like a celebrity. Yes, I knew His name and what He did. I just didn’t have a relationship with Him… At least the relationship I should’ve had with Him.
Set Your House in Order changed all that…
I even formed relationships with people I still keep in touch with today.
There’s one thing we here at Compass say a lot: In the end, it’s not so much about the finances. It’s about the people and the relationships you build.
So, yes! I encourage you to sign up and “set your house in order,” if you have matters like debt, providing for your family, future planning and life insurance that you’d like guidance on. But I also want you to know that doing so… will open your eyes and your heart to everything God has in store for you.
Melody Kerr is Managing Editor and Author of the Compass Blog.
Melody earned a bachelor’s degree in public relations from the University of Florida in 2014, and a master’s in global strategic communications from Florida International University in 2017. She has worked in editing since 2014 and currently works as an editor for a financial publishing company in Boynton Beach, Fla.
In 2020, Melody discovered her passion in personal finance and writing, as well as a closer relationship with the Lord after joining a Compass—Finances God’s Way study. Since then, she founded financial coaching business Centsible Finance LLC and publishes the free e-letter Making Cents.
Melody joined the Compass Florida board at the end of 2021, is the editor for the Compass blog and serves as a facilitator and trainer for the Building Your Finances God’s Way study. In her free time, she also volunteers as a financial coach for MoneyWise, an organization that teaches personal finance from a biblical perspective.