The STEWARD Plan

Understanding God's Design for Your Finances

John A. Madison, CPA.

• Publisher: Elm Hill
• Year: 2020
• ISBN:
  9781400328086
• Topic: Personal Development
• Subtopic: Personal Finance

Does the Bible really offer guidance for the complicated financial system in our world today? CPA, author and personal financial counselor John Madison offers a resounding yes! Since retiring from full-time work as a CPA at the age of 49, he has written his new book, The Steward Plan, which explores how following Biblical guidelines can lead people at any stage of life to financial success God's way.

The Steward Plan covers many aspects of becoming the financial steward God desires, including how to set financial goals, tithing guidance and strategies, creating a blueprint for spending, eliminating debt from your life, growing your wealth wisely over time, removing unnecessary risk from your financial life, and developing a plan to bless future generations. Combining Scripture with practical and easy-to-understand financial terms, The Steward Plan will help you gain control over your money and live the life God designed for you.

The Steward Plan is an outgrowth of Dayspring Financial Ministry, whose mission is to teach Biblical financial stewardship. Like all of Dayspring's programs, The Steward Plan does not promote or attempt to sell any specific insurance or investing products. It is an independent source of financial information and education, free of any bias, other than conformity with Scripture.

CHAPTER 1 The Capitalist Christian

The America in which we reside today has changed dramatically since our founding over 240 years ago. Many of these changes, of course, have been for the better. In many respects, the United States of America remains the shining city upon a hill spoken of in Ronald Reagan’s farewell address in 1989 (The New York Times 1989). We are still, for better or worse, the desired destination for millions striving for a better life for themselves and their family. But is the America they find today one that is, at least economically, the same as the one found by earlier generations of immigrants? Would a child born in America today have the same economic opportunities experienced by their predecessors?

Capitalism—an economic system in which ownership of the means, distribution, and exchange of wealth is controlled by private individuals and corporations versus the government (Dictionary.com n.d.)—has been under assault in America. In fairness, some of the criticism is well deserved. There have been multiple high-profile cases of individuals or companies taking unfair advantage of consumers, competitors, or investors. Capitalism, like every other economic system, can be abused. Greed and corruption are possible in all systems whether capitalist, communist, or socialist. What is indisputable, however, is that the standard of living and upward economic mobility is the greatest in capitalist systems.

Unfortunately, many in our society today espouse the belief that achieving financial success surely means that you are selfish and greedy, having profited unfairly from a dishonest system. Interestingly, many of those same people are advocates of a robust public education system, from preschool to subsidized college programs, presumably to prepare one for a successful career. So, is it acceptable to prepare for success but then wrong to actually succeed?

Should a Christian Be Financially Successful?

Due primarily to a relatively few manipulators and abusers of the American capitalist system, the idea of achieving financial success has become tarnished in the eyes of many. These concerns are often multiplied in the Christian community. The obvious material poverty during the earthly ministry of Jesus Christ has incorrectly led many believers, as well as many critics of Christianity, to believe that material wealth runs counter to Christ’s lifestyle. A 2011 study found that, “Overall, more Americans believe that Christian values are at odds with capitalism and the free market than believe they are compatible. This pattern also holds among Christians. Among Christians in the U.S., only 38% believe capitalism and the free market are consistent with Christian values while 46% believe the two are at odds” (Cox and Jones 2011). As practicing Christians who strive for “Christ-likeness” in our lives, are we to also be destitute?

While Christ certainly warned His listeners about the dangers of undue importance placed upon one’s financial condition, neither He nor God condemned wealth or success in our career. The apostle Paul wrote in 1 Timothy 6:10 (NKJV), “For the love of money is a root of all kinds of evil, for which some have strayed from the faith in their greediness, and pierced themselves through with many sorrows.” While this verse is often seen as a warning to those of financial means, it applies equally to those of limited (or no) wealth whose focus is on what they do not have, or upon an improper belief that wealth will lead to happiness and contentment. The love of money is a sin that is not limited to certain income or wealth levels.

Financial success in the career of a Christian should not be seen as ungodly. God expects us to work hard and honestly. Psalm 90:17 (NKJV) calls on God to “establish the work of our hands.” Proverbs 12:11 states, “Those who work their land will have abundant food.” Proverbs 14:23: “All hard work brings a profit, but mere talk leads only to poverty.” God’s guidance is given to both genders as well. The virtuous wife in Proverbs 31 is praised when she “makes linen garments and sells them, and supplies the merchants with sashes.” Should God grant a believer financial success, then God should be praised and we should rejoice for our brother or sister in Christ, not judge them harshly or be jealous of their success.

Core Beliefs for Christian Personal Finance

What are the core beliefs that should serve as a foundation to a Christian’s wealth goals and management? How should a believer view personal finance? And how do we execute those beliefs in practical, real-life steps?

First, believers should always remember that God owns everything, at all times. “Indeed, heaven and the highest heavens belong to the Lord your God, also the earth with all that is in it” (Deuteronomy 10:14 NKJV). Genesis 1:26 (NKJV) (among other verses) specifically states that mankind is to have dominion (or control) over “all the earth,” but it does not state that God cedes ownership to us. We are only temporary stewards of any wealth we may possess. Eventually, everything we own will either be owned by someone else (property, money in the bank or invested in stocks or bonds) or used in full and of no future value (food, clothing).

As stewards, Christians are to manage the resources we control in a manner that is pleasing to the true owner, God, and consistent with His principles. He expects us to be consistently trustworthy in our management of His wealth. 1 Corinthians 4:2 (NKJV) states, “Moreover it is required in stewards that one be found faithful.” That doesn’t mean, though, that we’re to live as paupers, never enjoying the resources He’s laid before us. In fact, it’s quite the opposite.

As any good father would, He wants us to enjoy our lives and the blessings He has given to us. That would include using a portion of our wealth not just for the bare minimum living standards, but also to enjoy the fruits of our labor. The key requirements, though, are to never lose sight of who the true owner is and to never look to our possessions for meaning and contentment. Our relationship with Christ is the most important and should always retain that vital position in our lives.

Second Timothy 3:16 (NKJV) states that “All Scripture is given by inspiration of God, and is profitable for doctrine, for reproof, for correction, for instruction in righteousness.” The instructions given in the Scripture cover many areas of our day-to-day spiritual and physical life. Thus, it comes as no surprise that the Bible is overflowing with verses concerning the use of money and the place it should (and should not) play in our lives. Every verse is included by God’s design and is important in its own right. However, to prevent this book from being thousands of pages long, the scriptural references have been culled to a more manageable list of verses. It’s important to note, though, that none of the excluded verses contradict the financial principles discussed throughout this book. It is from these verses that we find the stewardship steps He expects from us as the manager of His resources.

The STEWARD Plan for a Christian’s Personal Finances

In order to simplify the steps a steward should take in managing God’s wealth, we can follow the STEWARD Plan. By addressing each of the personal financial areas covered by the seven letters of the acronym, a steward can create a comprehensive and biblically compliant plan.

Care should be taken to address each of the seven areas listed below and detailed in subsequent chapters. While each is independent of the others, they work together to create a full, comprehensive financial plan.

The STEWARD Plan

Set financial goals (Chapter 2) – As the expression goes (commonly attributed to Benjamin Franklin), “Failing to plan is planning to fail.” What would God have you to achieve with your personal finances? Are you placing your goals above His goals for you?

For where your treasure is, there your heart will be also.

Matthew 6:21

Tithe cheerfully (Chapter 3) – We give out of obedience and recognition that all we have is His anyway. But are we doing so cheerfully and willingly?

As soon as the commandment was circulated, the children of Israel brought in abundance the firstfruits of grain and wine, oil and honey, and of all the produce of the field; and they brought in abundantly the tithe of everything.

2 Chronicles 31:5 (NKJV)

Establish a spending plan (Chapter 4) – Here, the steward lays out the spending plan each month to maximize the benefit of each available dollar toward meeting their financial goals. Money not given a specific purpose tends to disappear with no awareness of where it went.

Suppose one of you wants to build a tower. Won’t you first sit down and estimate the cost to see if you have enough money to complete it?

Luke 14:28

Wipe out consumer debt (Chapter 5) – Few things can hinder long-term financial success and wealth building more than consumer debt.

Owe no one anything, except to love each other, for the one who loves another has fulfilled the law.

Romans 13:8 (ESV)

Accumulate diversified wealth over time (Chapter 6) – Building wealth usually takes time. Certainly, God’s Word cautions believers against pursuing quick gains at the expense of our walk with Him. So, what are some investing principles we should follow?

Invest in seven ventures, yes, in eight; you do not know what disaster may come upon the land.

Ecclesiastes 11:2

Remove unnecessary risk (Chapter 7) – Even the best, most biblically solid plans can be undermined and destroyed by retaining risk that should have been eliminated.

The prudent see danger and take refuge, but the simple keep going and pay the penalty.

Proverbs 27:12

Develop an estate plan (Chapter 8) – Scripture counsels believers to plan not only for our immediate needs, but also the needs of future generations. We should be generationally minded with our financial management.

A good person leaves an inheritance for their children’s children, but a sinner’s wealth is stored up for the righteous.

Proverbs 13:22

The balance of this book describes and explains each of these important areas of Christian personal financial stewardship, with one chapter for each topic. While it’s impossible to cover every possible scenario for these steps, the next chapters will, I hope, begin to help you understand the principle to be applied to your financial lives.

A Word of Encouragement as We Get Started

While we must constantly make important decisions about our finances, the most important of all is to adopt the mindset of a steward. Every financial decision we make should be viewed from that perspective. When I managed the business assets of my accountin...

Table of contents

• Cover
• Half-title page
• Title page
• Copyright page
• Dedication
• About John Madison and Dayspring Financial Ministry
• Endorsements from John’s Home Church
• Acknowledgements
• Important Disclosure
• Table of Contents
• Introduction and Testimony
• Chapter 1 – The Capitalist Christian
• Chapter 2 – Set Financial Goals
• Chapter 3 – Tithe Cheerfully
• Chapter 4 – Establish a Spending Plan
• Chapter 5 – Wipe Out Consumer Debt
• Chapter 6 – Accumulate Diversified Wealth Over Time
• Chapter 7 – Remove Unnecessary Risk
• Chapter 8 – Develop an Estate Plan
• Chapter 9 – The Good and Faithful Servant
• Chapter 10 – The STEWARD Plan in Action
• Appendix A – Sample Investment Policy Statement
• References