Christian Financial Concepts: Personal Finance Research Study
Like most financial information, statistics can explain Christian financial concepts. Statistics are sometimes called performance indicators. Performance indicators are quick ways to see how well something is working against a pre-defined standard. Credit scores are an example of a personal finance statistic. They are an indicator of a person’s credit worthiness. By understanding the meaning of the range of credit scores, lenders, employers, and others can quickly assess how well a person manages their debts.
One day while watching Christian television, a minister made the statement that there was not much difference in the personal f
inancial status of Christians vs. non-Christians. After hearing that, I began searching the Internet in attempts to find a research study on the topic. For weeks I searched but found only general statistics and not a true comparison between biblical vs. tradition. I recall praying and asking God to show me where I can locate the information I was seeking. Shortly afterward, I discovered the Christian-based study Thrivent Financial’s 2015 Money Mindset Report. Earlier in my research, I found Thrivent Financial’s General Population Survey of 1,001 U.S. adults. However, I had overlooked the Christian Survey taken by 1,000 self-identified Christians, which was there all along.
The Financial State of Christians Is Not Much Different from the World’s
The study indicates that the minister’s statement regarding the financial status of Christians vs. non-Christians is true. For your reference, Kingdom’s Life Support has prepared an infographic of several performance indicators compiled from Thrivent Financial’s study as evidence. Each metric is shown in a side-by-side format to simplify comparisons.
Since the evidence shows that most Christian’s application of financial concepts is essentially the same as the general public, what can be done about it? We can combat against the causes of why. The root causes are a lack of knowledge, failure to apply biblical principles correctly or both.
Ways to Combat Against Reasons The Why There Is Not Much Difference
To combat a lack of knowledge:
- seek God for the spirit of wisdom
James 1:5 King James Version (KJV)
5 If any of you lack wisdom, let him ask of God, that giveth to all men liberally, and upbraideth not; and it shall be given him.
Ephesians 1:17 King James Version (KJV)
17 That the God of our Lord Jesus Christ, the Father of glory, may give unto you the spirit of wisdom and revelation in the knowledge of him:
- study the Word of God to gain an understanding of the laws of God
Hosea 4:6 King James Version (KJV)
6 My people are destroyed for lack of knowledge: because thou hast rejected knowledge, I will also reject thee, that thou shalt be no priest to me: seeing thou hast forgotten the law of thy God, I will also forget thy children.
- meditate on the Word of God to make your way prosperous
Joshua 1:8King James Version (KJV)
8 This book of the law shall not depart out of thy mouth; but thou shalt meditate therein day and night, that thou mayest observe to do according to all that is written therein: for then thou shalt make thy way prosperous, and then thou shalt have good success.
To combat failure to apply biblical principles:
- practice being a doer of the Word
James 1:22King James Version (KJV)
22 But be ye doers of the word, and not hearers only, deceiving your own selves.
- believe and have faith in the Word of God
Matthew 21:21King James Version (KJV)
21 Jesus answered and said unto them, Verily I say unto you, If ye have faith, and doubt not, ye shall not only do this which is done to the fig tree, but also if ye shall say unto this mountain, Be thou removed, and be thou cast into the sea; it shall be done.
- when you pray, believe you have received what you prayed for
Mark 11:24King James Version (KJV)
24 Therefore I say unto you, What things soever ye desire, when ye pray, believe that ye receive them, and ye shall have them.
By Michael Mosbey, co-founder
eLearn Life Skills, LLC
Founded in 2017, Kingdom’s Life Support is the Christian personal finance brand of eLearn Life Skills, LLC. ELearn Life Skills’ mission is to develop and distribute e-learning and classroom education that empowers students to enjoy a higher quality of life and increased business success.