Christian Stewardship: How CWM Can Help You Leave a Legacy for Future Generations
Christian stewardship can help you make the most of your God-given wealth during your lifetime while also preparing your loved ones to inherit it after you’ve gone.
Cooke Wealth Management (CWM) provides guidance on how you might manage your money now so it grows tomorrow and continues to work for your family even after you are gone. Incorporating your values, goals, and beliefs can be an important part in the process and help you stay focused on being a wise steward of God’s resources.
What is Stewardship?
Christian stewardship is an act of faith, a way of life that centers on the fact that we are not owners of our time, talent, or money., Christian stewardship teaches that everything we have belongs to God. It is all His gift to use for His glory.
The late theologian RC Sproul defined stewardship this way: "Stewardship is about exercising our God-given dominion over His creation, reflecting the image of our creator God in His care, responsibility, maintenance, protection, and beautification of His creation."
In the Bible, Joseph served as a steward over the household and wealth of Potiphar the Egyptian. He managed it and was given the authority to rule over it. This story illustrates the principle of stewardship expressed in Genesis 1 where God creates man and woman to steward the earth. Like Joseph, human beings have the authority to manage God's earth.
Modern Christians may practice stewardship by using their resources in ways that will be meaningful in God's Kingdom today and beyond. That can mean giving generously to mission-driven organizations that serve God and God's people. It can also mean making sound financial decisions that help you serve God without financial concerns long after you retire. It can even mean leaving a legacy of faith and generosity to your children and their children.
Many Christians understand and believe in the Biblical principles of stewardship, but they don't always know how to translate those principles into everyday actions.
CWM works with clients to empower them with principles, perspective, and a process to apply biblical stewardship to their money management decisions. We provide professionally managed portfolios built around long-term goals and values while also providing guidance on charitable giving strategies and more. Our goal is to provide a one-stop shop for your wealth management needs, from financial planning and asset allocation to retirement income solutions that emphasize generosity and spiritual wealth.
What Does the Bible Say About Stewardship?
The theology of stewardship appears in the first sentence of the Bible. Genesis 1:1 says, “In the beginning, God created the heavens and the earth.”
In the New Testament, the writers emphasize the same theme. Colossians 1:15-16 says, "For by him all things were created, in heaven and on earth… all things were created through him and for him.”
These verses establish the foundational concept of stewardship: God created everything. When we earn, save, spend, or give money, we use something God created.
Psalm 24:1 says, "The earth is the Lord's and the fullness thereof, the world and those who dwell therein." The Bible is clear: God owns everything, including your money.
Finally, God gives us everything we have. He expects us to manage those resources for His glory. I Corinthians 3:9 says, "We are co-workers in God’s service." What we choose to do with God's resources matters.
God gives instructions to His stewards about how to handle money and possessions. Instructions and guidance that can be applied to how you handle money today.
Here's the thing: Our money isn't ours. It belongs to God. And in acknowledging this our financial decisions are in fact spiritual ones.
How Does Being a Christian Change the Way We Manage Money?
As Christians, our view of stewardship should change how we manage money. Instead of focusing on collecting expensive toys and gadgets for ourselves, we should work to use money or have a financial plan with God at the center. Asking ourselves, what would God have me do? How might this impact God’s plan for my family or His kingdom?
Like most financial plans, this kind of plan likely includes everything from careful management of day-to-day finances to budgeting, saving, and investing for the future.
Let's look at each of these concepts.
Spend less than you earn (Proverbs 10:4, Proverbs 13:11). This means you might need a budget that helps you understand where your money is going or how you might want to change your spending habits..
Avoid the burden of debt (Proverbs 22:7, Psalm 37:21). When the Bible talks about debt — none of it is good. Notably, Proverbs 22:7 says, “The rich rule over the poor, and the borrower is a slave to the lender.” Debt always mortgages the future.
Save for the future (Proverbs 2:10). Tomorrow is coming, and you don't know what it will bring. Having a financial hedge against trouble can often save you a lot of time, money, and emotion.
Give generously (2 Corinthians 8:10-11). By giving, you can walk alongside people who need help in your community and in other places around the world.
Think and Invest long-term (Ephesians 2:10). There’s always a trade-off between the short-term and long-term. If you can plan for a lifetime and beyond you may be able to better understand how your financial decisions affect your overall goals.
At CWM, we call these the five principles of Christian financial planning. Each one of these principles comes from scripture and helps underpin a sound financial plan.
A Theology of Generosity
For people of faith… God commands generosity. And He does that for very good reasons.
Generosity can be about more than just our finances. It can include our time, skills, and money.
Financial giving can help release the power money may have over us. It can reinforce our faith and trust in God. It can help you cultivate a generous spirit while it's also helping the recipients of your gift to live better lives. Giving can also provide a model for your children and grandchildren as they watch you manage your money.
At CWM, we believe that giving should be a priority. It's about faithful action with money, not necessarily about how much money you can afford to give. As soon as you can give more, however, you'll probably want to re-evaluate and prayerfully consider giving more. Giving just feels good!
How to Give Wisely and Generously
Giving to your church or a charity you've always given to can be a good idea, but it doesn’t have to stop there. How might you give wisely as well as generously?
First, select a mission. Is there a particular need or cause that God has placed on your heart? Ask Him to open your eyes to something you may have otherwise not noticed. If there’s a charity you’ve recently heard of that piqued your interest, explore it further.
Then, find a charity that accomplishes that mission. Take some time to understand how the charity stewards their own resources. Are they independent, how are they governed or managed? What’s their impact? Do their goals align with the mission you’ve selected? Check around online to see if they are under investigation or have attracted negative attention from watchdog agencies. Finally, feel free to evaluate similar charities against each other and then give to the one you believe is most effective.
How to Teach Your Children About Stewardship
A University of Cambridge study found that children form money habits by the time they are seven years old.
When you give, budget, save, and invest, your children are likely watching you. Consider involving them in some of the process. The sooner children understand good money habits and what stewardship means, the better equipped they'll be to manage a responsible, adult financial life.
Stewardship can start with gratitude. As author Ann Voskamp puts it, "Thanksgiving creates abundance." Practicing gratitude and encouraging a grateful heart in your child can plant the seeds for good stewardship. Consider ways you might expose them to what others might not have; share your experiences, volunteer as a family, or perhaps plan a family mission trip.
Encourage a heart of giving in your child. You can help your son or daughter create a budget for their allowance that includes giving to your church or a favorite charity. If it’s time to clean out the closet or toy bin, involve them in selecting what toys might go in the donation bin. Research and pick a charity as a family that you want to give to. Practice generosity early.
Finally, introduce older children to the miracle of compound interest. Let them see that when money is put to work, it works hard. And the sooner you put it to work for you, the quicker you'll see results.
How can CWM Help Me Steward my Wealth?
The Bible tells us that we are called to be good stewards of our wealth. Christian wealth management is a way of managing your money in order to do that well. It’s wealth management that takes into account your faith and values when making financial decisions.
At CWM, we’ll work with you to develop a financial plan that is designed to help you flourish throughout your life and leave a legacy. We’ll keep a sharp eye on your investments and retirement plan, so you can focus on the other stuff.
Cooke Wealth Management can be helpful in other ways too. For instance, we can provide guidance around estate planning, insurance, tax strategies, and charitable giving. Give us a call today to discuss how we can help you.