10 Questions
What is the primary goal of financial planning according to biblical principles?
To manage our finances effectively
What is the purpose of tithing according to the biblical principles?
To demonstrate our trust in God's provision
What is the key principle of stewardship according to biblical principles?
God owns everything, we are managers
What is the definition of budgeting according to biblical principles?
The process of creating a plan to manage our finances effectively
What is the purpose of financial planning according to biblical principles?
To manage our finances effectively
What is the key principle of debt management according to biblical principles?
Debt is a form of slavery
Which of these actions would be unlikely to raise your credit score?
Canceling a credit card you don't use
Suppose you have £100 in a savings account earning 2% interest a year. After five years, how much would you have?
More than £102
What is the Christian perspective on money and stewardship?
Money is seen as a resource to be handled with care and reverence, belonging to God, with emphasis on gratitude, avoiding greed, and giving back to God and the community.
What are the three ingredients to manage money effectively mentioned by Sofia in the “Saving Journey” webinar?
Patient, Consistency & Discipline
Study Notes
Stewardship
- Definition: The responsibility to manage and care for resources entrusted to us by God.
- Biblical basis: Psalm 24:1, Matthew 25:14-30, Luke 12:42-48
- Key principles:
- God owns everything, we are managers.
- Our resources are not our own, but are entrusted to us for His purposes.
- We will be held accountable for our stewardship.
Tithing
- Definition: Giving 10% of our income to support the church and its ministries.
- Biblical basis: Malachi 3:10, Leviticus 27:30, Deuteronomy 14:22-23
- Key principles:
- Tithing is a demonstration of our trust in God's provision.
- Tithing is a priority, not an optional extra.
- Tithing is not just about giving money, but about giving our whole lives to God.
Debt Management
- Definition: The process of reducing and eliminating debt.
- Biblical basis: Proverbs 22:7, Romans 13:8, Psalm 37:21
- Key principles:
- Debt is a form of slavery (Proverbs 22:7).
- Debt can lead to financial stress and anxiety.
- Creating a plan to get out of debt is essential for financial freedom.
Financial Planning
- Definition: The process of creating a plan to manage our finances effectively.
- Biblical basis: Proverbs 27:23-24, Luke 14:28-30, 1 Corinthians 4:2
- Key principles:
- Financial planning is a stewardship responsibility.
- A budget is a necessary tool for financial planning.
- Financial planning involves setting goals and prioritizing spending.
Biblical Investing
- Definition: Investing in a way that honors God and aligns with biblical principles.
- Biblical basis: Matthew 25:14-30, Luke 19:11-27, 1 Timothy 6:10
- Key principles:
- Investing is a form of stewardship.
- Our investments should reflect our values and priorities.
- Biblical investing involves avoiding activities that harm others or contradict biblical principles.
Budgeting
- Definition: The process of allocating our income to different areas of spending.
- Biblical basis: Proverbs 27:23-24, Luke 12:42-48, 1 Corinthians 4:2
- Key principles:
- A budget is a necessary tool for financial planning.
- Budgeting involves prioritizing spending based on our values and goals.
- A budget should include categories for giving, saving, and investing.
Stewardship
- Stewardship is the responsibility to manage and care for resources entrusted to us by God.
- Resources include everything we have, including time, talent, and treasure.
- Our responsibility as stewards is to manage these resources in a way that honors God and aligns with His purposes.
Tithing
- Tithing is giving 10% of our income to support the church and its ministries.
- Tithing is a demonstration of our trust in God's provision and a way to show our gratitude for His blessings.
- It is a priority, not an optional extra, and involves giving our whole lives to God, not just our money.
Debt Management
- Debt is a form of slavery (Proverbs 22:7).
- Debt can lead to financial stress and anxiety, and can prevent us from fulfilling our stewardship responsibilities.
- Creating a plan to get out of debt is essential for financial freedom and enables us to be better stewards of our resources.
Financial Planning
- Financial planning is a stewardship responsibility that involves creating a plan to manage our finances effectively.
- A budget is a necessary tool for financial planning, and involves setting goals and prioritizing spending based on our values.
- Financial planning enables us to be good stewards of our resources and to live lives that honor God.
Biblical Investing
- Investing is a form of stewardship that involves using our resources in a way that honors God and aligns with biblical principles.
- Our investments should reflect our values and priorities, and avoid activities that harm others or contradict biblical principles.
- Biblical investing involves being faithful with what God has given us, and using our resources to further His kingdom.
Budgeting
- Budgeting is the process of allocating our income to different areas of spending.
- A budget is a necessary tool for financial planning and involves prioritizing spending based on our values and goals.
- A budget should include categories for giving, saving, and investing, and enables us to be good stewards of our resources.
This quiz covers the biblical principles of stewardship, including the management of resources, and tithing, which involves giving 10% of one's income to support the church and its ministries.
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