Financial Stewardship: Building a Legacy for Generations
Summary
In today's message, we explored the concept of financial stewardship from a biblical perspective, challenging the popular notion of "YOLO" (You Only Live Once) with a more profound understanding of legacy and responsibility. The Bible teaches us that our financial decisions should not only impact our lives but also the lives of the next two generations. Proverbs 13:22 reminds us that a good person leaves an inheritance for their children's children, encouraging us to think beyond our immediate desires and consider the long-term impact of our financial choices.
We discussed the importance of having a vision and a plan for our finances, as highlighted in Luke 14:28, where Jesus emphasizes the need to estimate the cost before building a tower. This principle applies to our financial lives as well. We need to have a clear vision and a strategic plan to ensure that we can complete what we start and leave a lasting legacy.
To achieve this, we must first get a vision for our financial future, understanding that without vision, we waste resources and opportunities. We then need to get a view of our current financial situation, understanding where our money is going and how we can make informed decisions. Closing our circle involves setting boundaries on our spending and reducing unnecessary expenses, allowing us to save and invest for the future.
Setting an ideal budget helps us align our financial goals with our values, ensuring that we are investing in what truly matters. By following a structured budget, we can make intentional decisions about our spending, saving, and giving. Finally, staying focused and consistent in our financial journey is crucial. Wealth is built over time, and by adhering to these principles, we can trust that God will bless our efforts and allow us to make a meaningful impact on future generations.
Key Takeaways:
1. Legacy Over YOLO: The Bible encourages us to think beyond the "YOLO" mindset and focus on leaving a legacy for future generations. Our financial decisions should aim to impact not just our lives but also those of our children and grandchildren. This requires a shift in perspective from short-term gratification to long-term planning. [01:50:10]
2. Vision and Planning: Having a clear vision and a strategic plan is essential for financial success. Without a vision, we risk wasting resources and missing opportunities. By setting a plan, we can ensure that our financial decisions align with our long-term goals and values. [01:52:28]
3. Understanding Finances: To make informed financial decisions, we must first understand our current situation. This involves analyzing our income and expenses, identifying areas for improvement, and seeking counsel when needed. Understanding our finances empowers us to make changes and move forward. [01:59:56]
4. Setting Boundaries: Closing our financial circle means setting boundaries on our spending and reducing unnecessary expenses. By doing so, we can save and invest for the future, ensuring that we are prepared for unexpected challenges and opportunities. [02:02:53]
5. Consistency and Focus: Building wealth requires consistency and focus. By adhering to a structured budget and staying committed to our financial goals, we can trust that God will bless our efforts and allow us to make a meaningful impact on future generations. [02:13:32]
Youtube Chapters:
- [0:00] - Welcome
- [01:49:47] - Introduction to YOLO
- [01:50:10] - Biblical Perspective on Legacy
- [01:51:09] - YOLT: You Only Live Three Times
- [01:52:28] - The Importance of Planning
- [01:53:57] - Starting Your Financial Journey
- [01:55:25] - The Power of Vision
- [01:57:06] - Vision vs. Resources
- [01:58:28] - Getting a View of Your Finances
- [01:59:56] - Understanding and Changing Finances
- [02:01:24] - Seeking Counsel and Help
- [02:02:53] - Closing Your Financial Circle
- [02:04:25] - Reducing Expenses
- [02:05:57] - Overcoming Entitlement
- [02:07:25] - Setting Your Ideal Budget
- [02:09:00] - The 10, 10, 10, 70 Principle
- [02:10:32] - The Importance of a Budget
- [02:11:56] - Process Over Goal
- [02:13:32] - Staying Focused and Consistent
- [02:14:48] - Practical Financial Steps
- [02:16:24] - Managing Debt and Savings
- [02:17:57] - Investing and Giving
- [02:19:36] - Building Assets and Net Worth
- [02:21:07] - Conclusion and Encouragement
Study Guide
Bible Study Discussion Guide: Financial Stewardship and Legacy
Bible Reading:
- Proverbs 13:22
- Luke 14:28
- Proverbs 21:20
---
Observation Questions:
1. According to Proverbs 13:22, what is the significance of leaving an inheritance for one's children's children? How does this contrast with the "YOLO" mindset? [01:50:10]
2. In Luke 14:28, what does Jesus emphasize about planning before building a tower? How does this principle apply to our financial decisions? [01:52:28]
3. What does Proverbs 21:20 say about the difference between a wise person and a foolish person in terms of financial management? [02:02:53]
4. How did the pastor illustrate the importance of having a clear view of one's finances using the soccer coaching analogy? [01:58:28]
---
Interpretation Questions:
1. How does the concept of "living three times" challenge the common cultural mindset of living for the moment? What implications does this have for financial planning? [01:51:09]
2. What role does vision play in financial stewardship according to the sermon? How can a lack of vision lead to financial mismanagement? [01:55:25]
3. How does setting boundaries on spending, as discussed in the sermon, help in achieving long-term financial goals? What are some practical ways to implement this? [02:04:25]
4. The sermon mentioned the importance of consistency and focus in financial planning. How can these principles be applied to ensure financial success over time? [02:13:32]
---
Application Questions:
1. Reflect on your current financial habits. Are there areas where you are living with a "YOLO" mindset rather than planning for a legacy? What changes can you make to shift your focus? [01:50:10]
2. Do you have a clear vision for your financial future? If not, what steps can you take to develop one? Consider setting specific goals for the next year and the next decade. [01:55:25]
3. Analyze your current financial situation. Are there unnecessary expenses that you can cut to close your financial circle? How can you start implementing these changes this month? [02:02:53]
4. How can you incorporate the principle of setting an ideal budget into your financial planning? What would your ideal budget look like, and how does it align with your values? [02:07:25]
5. Consistency is key in financial planning. What strategies can you use to stay focused on your financial goals, especially when faced with unexpected challenges or temptations to overspend? [02:13:32]
6. The sermon emphasized the importance of seeking counsel. Is there someone in your life who can provide guidance and accountability in your financial journey? How can you reach out to them this week? [02:01:24]
7. Consider the pastor's illustration of the financial journey. What is one practical step you can take this week to move closer to your financial goals, whether it's saving, reducing debt, or investing? [02:19:36]
Devotional
Day 1: Legacy Beyond the Present
Our financial decisions are not just about us; they are about the legacy we leave for future generations. The Bible challenges the "YOLO" mindset by encouraging us to think about the impact of our financial choices on our children and grandchildren. Proverbs 13:22 reminds us that a good person leaves an inheritance for their children's children. This means that our financial stewardship should be guided by a vision that extends beyond our immediate desires and considers the long-term effects on our family and community. By shifting our perspective from short-term gratification to long-term planning, we can create a legacy that honors God and benefits those who come after us. [01:50:10]
"Do not lay up for yourselves treasures on earth, where moth and rust destroy and where thieves break in and steal, but lay up for yourselves treasures in heaven, where neither moth nor rust destroys and where thieves do not break in and steal. For where your treasure is, there your heart will be also." (Matthew 6:19-21, ESV)
Reflection: What specific financial decision can you make today that will positively impact your children or grandchildren in the future?
Day 2: Vision and Strategic Planning
Having a clear vision and a strategic plan is essential for financial success. Without a vision, we risk wasting resources and missing opportunities. Luke 14:28 highlights the importance of estimating the cost before building a tower, which applies to our financial lives as well. By setting a plan, we can ensure that our financial decisions align with our long-term goals and values. This involves understanding our current financial situation, setting realistic goals, and creating a roadmap to achieve them. A well-thought-out plan helps us stay focused and committed to our financial journey, allowing us to build wealth over time and leave a lasting legacy. [01:52:28]
"The plans of the diligent lead surely to abundance, but everyone who is hasty comes only to poverty." (Proverbs 21:5, ESV)
Reflection: What is one specific financial goal you can set today, and what steps will you take to create a plan to achieve it?
Day 3: Understanding and Managing Finances
To make informed financial decisions, we must first understand our current situation. This involves analyzing our income and expenses, identifying areas for improvement, and seeking counsel when needed. Understanding our finances empowers us to make changes and move forward. By gaining a clear view of where our money is going, we can make intentional decisions about our spending, saving, and giving. This understanding is crucial for setting boundaries on our spending and reducing unnecessary expenses, allowing us to save and invest for the future. [01:59:56]
"Whoever is slack in his work is a brother to him who destroys. The name of the Lord is a strong tower; the righteous man runs into it and is safe." (Proverbs 18:9-10, ESV)
Reflection: Take a moment to review your recent financial transactions. What patterns do you notice, and how can you adjust your spending to better align with your values and goals?
Day 4: Setting Boundaries and Reducing Expenses
Closing our financial circle means setting boundaries on our spending and reducing unnecessary expenses. By doing so, we can save and invest for the future, ensuring that we are prepared for unexpected challenges and opportunities. This involves creating a budget that aligns with our values and priorities, allowing us to make intentional decisions about our finances. By setting boundaries, we can avoid the pitfalls of entitlement and focus on what truly matters. This disciplined approach to financial management helps us build wealth over time and create a legacy that honors God. [02:02:53]
"Better is a little with the fear of the Lord than great treasure and trouble with it." (Proverbs 15:16, ESV)
Reflection: Identify one area of your spending where you can set a boundary or reduce expenses. How will this change help you save and invest for the future?
Day 5: Consistency and Focus in Financial Stewardship
Building wealth requires consistency and focus. By adhering to a structured budget and staying committed to our financial goals, we can trust that God will bless our efforts and allow us to make a meaningful impact on future generations. This involves being disciplined in our financial practices, such as saving, investing, and giving. Consistency in these areas helps us build a strong financial foundation and create a legacy that reflects our values and priorities. By staying focused on our long-term goals, we can navigate the challenges and opportunities that come our way, trusting that God will guide us on our financial journey. [02:13:32]
"Commit your work to the Lord, and your plans will be established." (Proverbs 16:3, ESV)
Reflection: What is one financial habit you can commit to practicing consistently, and how will this habit help you achieve your long-term financial goals?
Quotes
1) "The Bible doesn't teach that you only live once. If the Bible taught that your life was only to count for your lifetime, then we could be all be walking around saying YOLO. But the Bible teaches that a good person should make it their goal financially to live three times. Proverbs chapter 13 verse 22. A good person leaves an inheritance for their children's children. They live once. They live twice. They live three times. To live biblically in the arena of my finances, it means that from the start of my life or from this day forward, I make it my goal to think, how can my future be better? How can my financial decisions make a difference in the next two generations after me?" [01:50:10] (58 seconds) (Download raw clip | Download cropped clip)
2) "Our goal should be to think bigger. We think too small. We think too small. We think too small. We think too small. We think not just about our lifetime, but the lifetimes that come after us. In fact, Jesus clearly taught us that in anything we attempt to do with our lives, that we should have a plan. Luke chapter 14 and verse 28. This is our text for this morning. Luke 14, 28. The Bible says, suppose one of you wants to build a tower. Will he not or will she not first sit down and estimate the cost to see if he has enough money to complete it? For if he lays the foundation and is unable to finish it, everyone who sees him will ridicule him, saying this fellow began to build, but he was not able to finish. He didn't have a plan." [01:52:28] (45 seconds) (Download raw clip | Download cropped clip)
3) "It's never too late to have a plan. And it's also never too early to have a plan. Whether you are seven years old or 70, God is saying, let's get moving. Let's plan our steps and then let's watch what the Lord will do. So today I want to give you six points. So this is the most specific and teaching oriented message of the series. I want to give you six points on how to have a plan. Are you ready? Three people in the front row. Are you ready? All right. Number one, get a vision. Proverbs 29, 18, where there is no vision, the people perish. In the NIV Bible, it's translated where there is no revelation, the people cast off restraint. And we see this financially everywhere we go." [01:53:57] (47 seconds) (Download raw clip | Download cropped clip)
4) "Remember friends, vision is not about resources. It's not asking you to change your financial position. I'm asking you to get a bigger vision, to see a higher horizon. Because here's the truth. The same resources with a greater vision produce a totally different result. I want to say it again. The same resources with a greater vision produce a totally different result. John 4.35, Jesus said to his disciples, harvest is ripe. He's saying so much more is possible than what you're achieving right now because you fail to have the vision. Wow." [01:57:06] (46 seconds) (Download raw clip | Download cropped clip)
5) "You will never change what you do not understand. Write it down. You will never change what you do not understand. So I sat down with our bank statements and I started looking at what was going on. I spent hours doing this. I made some columns, got out Excel. I had house expenses, power, insurance, rent, higher purchase on that blasted lounge suite, car expenses, repayments, petrol, Warren and Reggio, insurance, servicing, fire replacement, entertainment, food, movies. And then I loaded under each of those the date and the amount of any expenditure that had left our account. Once I had about three or four months in my columns, I started to get a view. I could see what was going on with my money for the first time." [01:59:56] (48 seconds) (Download raw clip | Download cropped clip)
6) "Entitlement is one of the greatest money traps of our generation. And it has no basis in scripture. Say it again, my wife saying. Entitlement is one of the greatest money traps of our generation. We live in a world where everybody thinks they deserve it. The human being is a person who is a person who is a person who is a person who is a person who is a that is coming through our education is pervading the way we interact with our finances and doubling up with the fact that delayed gratification is somehow not desirable. So now we have an entitled generation. You should have it. Others have it and you deserve it. You should have their level of house. You should have the same car as them. You are entitled to a certain standard. Listen to me. Entitlement will keep you poor." [02:05:57] (47 seconds) (Download raw clip | Download cropped clip)
7) "If you want God to get your back, you need to know in your heart where you're wanting to go. If you know where you're going, God can help you get there. So set your ideal. Know where you want to go. As I mature in my financial journey, this is where I want my money. To go. I will invest this much. I will give this much. I will live on this much. Now you might not be there when you first prepare your budget, but by setting the principles, you know what you're moving towards without setting the ideal. It's very likely that you're going to under invest in areas that will be key to your financial future." [02:07:25] (38 seconds) (Download raw clip | Download cropped clip)
8) "Your process is more important than your goal. Your process is more important than your goal. Your budget is your process. Far too many people say, I've set a goal, John. I'm going to save $10,000. Great. But what's the process? It'll be better to say my spending money will be 20 bucks a week and I'll make my lunch every day because that's my process. If I have the process and obsess about the process, it's going to help me get to the goal. Everybody on board so far? And here's the sixth thing that we're going to do. We're going to stay focused and consistent." [02:11:56] (41 seconds) (Download raw clip | Download cropped clip)
9) "Guys, you have to believe that God can prosper you. You have to believe that progress is possible. You have to know that God can move you forward in your finances. And allow you to make a difference in the next generations that follow after you. The hardest $100 to earn is your first $100. The hardest $1,000 to save is the first $1,000 you've ever saved. The hardest house to buy is the first house you will buy. And the hardest million to make, I've heard, is the first million that you ever made. But we've got to stay focused and consistent." [02:13:32] (39 seconds) (Download raw clip | Download cropped clip)
Chatbot
-
I'm an AI bot trained only on this specific sermon. Do you have any questions about it?