Speaker 1 00:00:08 What's up, everyone. Welcome to the finance for physicians podcast. I'm your host, Daniel Raimi. Join me as we dig into what it looks like for physicians to begin using their finances as a tool to live better lives. You can learn more about our
[email protected] let's. Jump into today's episode. Hey guys, hope you're having a great day hoping to talk today about, uh, some of the big financial lessons that, that I've observed from the Bible. It's loaded up with financial topics. I think I've heard a lot that it's the number one topic. I don't know if it's the top topic, but it definitely, um, you know, one of the top topics, uh, covered within the Bible, um, is financial topics. So clearly the authors were aware of it being a big deal. So, uh, there's all kinds of lessons within the Bible. And I wanted to just kind of go through some of the big kind of takeaways.
Speaker 1 00:01:03 So if you're Christian, I think it's important to really understand, uh, these and, you know, let them be a guide. Now, if you're not a Christian, you know, I really think some of these can still be good fundamental principles and can be helpful really for anyone. And so we're going to jump into that today. Okay. So the first big lesson or takeaway for me would be getting your priorities in order. And I think really a sub point to that would be like money should not be first. I think this is really about going the direction of what is most important to you and ma you know, understanding those priorities and really kind of going after what that most important thing is. And if money is top of the list, that's where problems happen. So a couple examples of that within the Bible. So in Timothy there's, uh, several of them, but, um, first Timothy six, nine through 10, uh, people who want to get Richard tempted, they fall into a trap.
Speaker 1 00:02:09 They're tripped up by wanting many foolish and harmful things. Those who live that or live like that are dragged down by what they do. They are destroyed and die for. The love of money is a root of all kinds of evil. Some people eager for money have wandered from the faith and pierced themselves with many griefs. So I'm sure you've heard of, uh, you know, references to this. A lot of people say like money is the root of all evil that's I don't think correct. Um, what this is trying, you know, what the, the point where we're trying to make here is like the love of money is the problem. People that are the pursuit and the love of money is the problem. And it's about priorities. It's like, if money is number one, if like you're idolizing money, he loved money, you're pursuing it.
Speaker 1 00:02:58 Um, it's number one in all your decision-making, uh, that is a problem and money in itself is not evil. Um, I don't think that's the point they're trying to make. It's the love of, and pursuit of money that where the problems happen also in Timothy in, uh, same chapter six, but 17 through 19. So Timothy first Timothy six 17 through 19 command, those who are rich in the present world, not to be arrogant nor put their hope in wealth, which is so uncertain, but to put their hope in God who richly provides us with everything, for our enjoyment, command them to do good, to be rich in good deeds and to be generous and willing to share. And this way they will lay up treasures for themselves as a firm foundation for the coming age, so that they may take hold of the life that is truly life.
Speaker 1 00:03:48 So this, you know, kind of furthering on that point, you know, not putting your hope. And I think the, the big one is not putting your hope in your wealth. That kind of goes back to the first point and not it really it's of, of, or need for, or desire for money in wealth. That's, that's where the problems happen. I think culturally, we are, our culture is I tells us that a wealth equals security and happiness. And I think what this versus saying is kind of the opposite. Not that wealth equals sadness, but wealth in itself, doesn't equal happiness. And it's not a good idea to put your hope in wealth. Wealth is, you know, uncertain. It's not guaranteed, it's not, uh, eternal it's temporary. Uh, and so it's much better to focus on doing good and being generous. Um, I think is the takeaway.
Speaker 1 00:04:55 So when I, when I think through this, I think about, okay, well, how are, how am I managing some of the big decisions in life? And am I, because most of the time, maybe you're not like idolizing money. And, but, but what, maybe it's a little too high of a priority that that's probably more common. And I, I have that in my own life. That's, you know, maybe money is taking a little bit too high of a seat there. And, um, maybe, you know, you need to knock it down and pay her to and focus on really the important things in life. So when I think about, you know, I think it's good to think about big decisions you've made or are, will be making like, you know, maybe having a child or having a child, I think is a good example. Cause like that never helps your wealth.
Speaker 1 00:05:43 I guess, uh, children are always going to be more expensive than not children. And so it's, that's a values decision. That's, what's most important to you decision completely. And it's a good, you know, that's a good example of, you know, making that what's most important, a higher priority than what's going to make you wealthy or selecting your career. Um, you know, if you're selecting say a medical specialty strictly based on compensation, I think that's a, uh, kind of, uh, a little bit of a dicey direction. You're kind of moving that direction of, uh, you know, being tempted based on wealth that in itself, um, and that's, that can get you into trouble because, you know, you end up in a career you hate, uh, you know, maybe it's not the best fit and you're doing it strictly for the money. And, you know, like I said, that's where the problems can happen, but there's all these big decisions made, you know, maybe you're deciding on whether or not to buy a home.
Speaker 1 00:06:43 It's I think it's good to remind yourself, like, let's go back to the priorities here. Like what's most important. And the Bible definitely reaffirms that it's like money should not be the top priority in your decision-making. And I think money, you gotta be careful when money starts to become like the hope that you lean on. Okay. So some questions to ask, I think that gets you thinking even more about this. I would ask, you know, what are you pursuing most in your life? You know, are you in a hot pursuit of like building wealth and that's, all of us are, are, uh, I think it's a temptation or maybe it's material things like that's kind of, you know, overlapping. It's like, are you in hot pursuit of wealth and, or, you know, material things or stuff, or what is truly most important in your life?
Speaker 1 00:07:37 Like, what's, what's your, what, what is, what is your motivation and drive another good thought, I think is how does the way that you manage your time and your money reflect on what's most important to you? Because it's, it's, it's kinda difficult to like, self-assess this kind of stuff. A lot of times it's like, everybody tends to say like, my family is the most important or, you know, whatever, but, um, I think a better way sometimes to do that is to look at your calendar and your checkbook. That's a little bit more of a objective, I guess, way to assess that. And that'll give you a good idea of like what you're valuing or, you know, cause your time and your money. And that's going to tell you what's what's most important. Another good thought is what if you lost all of it? Like if you gave all your money away or lost all of it, would you still be happy?
Speaker 1 00:08:30 I think if the answer is no, it's just something to think about. I mean, obviously it's going to be painful, but, um, ideally I would like to be happy, you know, even if I lost all of my resources and gave it all away and then if you're making big decisions, like I was mentioning earlier, how does money fit into the priority list? So big takeaway, number one is getting those priorities in order. And I think the risk or the temptation to avoid is letting money be the first or the driver. And, you know, the Bible's teachings are that we should try to avoid that. And you know, you want to be, you know, not try to avoid it, but you got to otherwise it's going to cause it has much more, you know, serious wording they're destroyed and die. I mean, they're very, it's very clear that if you love money, it's going to cause major problems.
Speaker 1 00:09:26 And so that's, that's the, uh, uh, the situation to avoid. So the second big lesson is that I think it's very clear that God looks very highly upon giving and it's not. Um, what's interesting. I think least when I started to actually really dig into it and read it, it's like, not as I guess, legal or regimented, as I thought it might be. Like, I kind of thought like it would be like a rule book or something it's like, you must give 10% and you know, cause that's what people say and otherwise you're banished to hell or whatever, you know? Um, it's not really at all like that. Now there's some like old Testament stuff. That's kinda like hardcore free like that, um, fire and brimstone type stuff. But I think the general takeaway is giving based on your, what you feel like is right, is where we want to go and giving, you know, sacrificially and not just like what's easy is the takeaway.
Speaker 1 00:10:32 So a couple of verses here, uh, there's a million, there's all kinds of stuff in the Bible about this, but from math, Matthew, Jesus says, um, when people ask you for something, give it to them when they want to borrow money, lend it to them. So that, that sounds kind of straightforward and simple, but it's like, I always think of like driving by or walking by someone that's homeless and they're like asking for money or help or whatever. And you know, the temptation is to just kind of look the other way and walk past. And so that's not in line with this teaching. If I, you know, if I was following this teaching purely, I would stop and say, you know, how can I help you? And, and B, cause I have resources to do that. And I, you know, that's how I should be doing that, but this, this kind of stuff, that's the other thing I should clarify.
Speaker 1 00:11:25 Like I am not, um, I'm not trying to say like I'm doing all these things, these are difficult things to do and they're lifelong challenges. And so it's a work in progress and you know, we can take small steps towards these things, but this is hard stuff like this is, uh, and it's counter-cultural so it's not, it's going to take, um, intentional effort. So when, you know, if you're what this is basically telling you to do is like, if need help, give it to them. And so the temptation as you're walking by the person is like, they're going to spend it on drugs or, you know, that's what everybody tells themselves. But like, you know, how do you know that? And then if you're really, really worried about that, then say, Hey, I'll buy a lunch or something like that. So another example from second Corinthians, nine, six through eight, uh, remember this, whoever sows sparingly will also reap sparingly and whoever sows generously will also reap generously.
Speaker 1 00:12:22 Each of you should give what you've decided in your heart to give not reluctantly or under compulsion for God loves a cheerful giver and God is able to bless you abundantly. So that in all things at all times, having all that you need, you will abound in every good work. So that's, that's talking about what I was hitting on before. It's like, it's not like super specific and rigid. It's more like give generously and be happy about it. Like give what you're you feel drawn to give and not because somebody else said so or not, because you heard me talk about it, give because you feel like that's the right thing to do. And then the promise here is like, you know, if you're a cheerful giver, like God is able to bless you abundantly. So, you know, you're, you're, you're well taken care of.
Speaker 1 00:13:14 So, you know, if you believe all this stuff, it's like, okay, well, why don't you try this? Try the given thing out. And like, at least see, you know, how it's, you know, start with something that feels good and then, you know, see how it goes. And then, you know, you don't wanna, you don't want to do it based on other's compulsion or, you know, your own, you gotta have a, I like the cheerful part about it. Like you gotta be positive. It has to be a positive thing. But for me personally, like as I have done it more it's become, or I guess it reinforces it and it's easier. It's funny. It's like, it's easier to give the more I give, which doesn't make sense on the surface. But also I've noticed too, like personally, the more I give the overall my financial picture looks better.
Speaker 1 00:14:01 So it's not it doesn't, um, it's not, it's like it doesn't take away. Like you would think it would. So another example of giving as you, as Jesus looked up, this is from Luke 21, 1 through four, as Jesus looked up, he saw the rich putting their gifts into the temple treasury. You also saw a poor widow put in two very small copper coins. Truly. I tell you, you said this poor widow has put in more than all the others. These people gave their gifts out of their wealth, but she gave out of her poverty, been in all she had to live on. So the idea here is that's kind of like sacrificial giving. Ideally, you're getting to that point where you're giving where it's, you know, not just easy, but it's like, you're, you're feeling it. Um, and that's, you know, gonna be spiritually and overall rewarding for your life.
Speaker 1 00:14:50 So like I said, there's all kinds of, um, different topics or different sections that cover, uh, giving. And it's very clear that it's highly looked upon. There are a few sections that get a little more concrete on like what a good target would be, but they're not, none of them are super concrete. I think there's, that's where the 10% comes from. There's a few that are kind of like indicate that that would be a good tide to give. But, uh, I think the takeaway, at least I have is more like giving sacrificially and uh, you know, and, and then also buying into this idea that you, you know, you'll be taken care of as a good charitable person. Like you're going to be fine, that you don't need to worry about that part. So I think the questions to consider here are how does giving rank in your financial priorities?
Speaker 1 00:15:43 Do you feel like it needs to be higher? Or do you feel like you're doing good or I think it's, for me, it's, like I said, a few times it's like a lifelong thing. So I think these are the types of things you can always improve on. So maybe a better question is like, how can I improve on, you know, giving? Do you feel like you're giving sparingly, uh, or generously or even sacrificially? And the big thing for me, I'm always, I'm trying to think about this. It's like, are you giving to those in need that asked for help because there's lots of people that, um, I pass by every day, not every day, but, uh, regularly that I'm not doing that with. And so I think we can all do a better job of, uh, you know, helping out those that are blatantly in need of help.
Speaker 1 00:16:31 Um, and I think that will be had a minimum tried out. I think that the other interesting thing about giving it's one of the few things in the Bible that has like a promise associated with it. It's like, um, what is the verse? Um, I'm sorry, not a promise, but like a test it's like, okay, here it is. So Malakai three, 10 through 12. So I'm not going to read the whole thing, but basically the, uh, you know, it, God is like, test me in this, which is not, that's not normally, that's not how he rolls. Uh, but in this example, it's like, bring your gifts and ties and you know, I'm going to hook you up is basically like, it's like you give, I'll take care of you is the gist of it. And he's like, test me, I'll show you. And so I think that's a good, um, if, you know, if you're, you're a Christian and you buy into all this, it's like, well, minimum, just give it a shot and like, uh, you know, have a little faith and, and, um, try it on for a little bit.
Speaker 1 00:17:28 And, uh, it's, you know, based on this, you're going to be rewarded. So the third big lesson. So, so first one is getting those priorities in order and making sure money's not first second one is God looks upon very highly. Uh, it looks highly upon giving. And then third big one is making a plan to give and save and pay off debt and even pay taxes first. So Proverbs 21 5, the plans of the diligent lead to profit, as surely as haste leads to poverty. Another one in Luke 14, 28, suppose one of you wants to build a tower. Will he not first sit down and estimate the cost to see if he has enough money to complete it, a Proverbs 15, 22 plans for fail for lack of counsel, but with many advisors they succeed. And then another one from Proverbs 14, 15, the naive believes everything, but sensible man considers his steps.
Speaker 1 00:18:25 So along those lines, like when you're planning, you get is good to have outside opinions and then, uh, and get counsel and, you know, I'm, I'm a financial planner. So, you know, um, a lot of cases, the council, but like, it doesn't have to be a financial planner. It can be, you know, a trusted friend and that kind of thing. Um, and then as you're navigating all this planning and life stuff, don't be naive. It'd be kind of like cautiously or, uh, I guess, um, I have a healthy skepticism is what I'm trying to say. It's, it's good to, to, to kind of ask the questions because, you know, you just don't know all, you don't want to be too naive. Um, and so when you're like a couple other examples of, you know, so having a plan is good. I think the first verse I mentioned makes that clear and the first two verses, and then having some, some help along the way, getting counsel is important and not being too naive, but on top of that, so there's a multiple other, uh, verses it talks about saving and paying off debts.
Speaker 1 00:19:32 Um, it doesn't ever, you know, I don't have a, I don't, I'm not aware of like examples. That's basically that say, like don't have debt. Um, but it is very clearly, it's very clear that the messages work to pay off debt, uh, and you know, don't, uh, it's bad to Dodge debt. Um, now if you have debt, it's something you want to get rid of, um, and pay it off. And, you know, have someone that is constantly in debt is a, you know, gonna be a slave to the lender. So, um, so dad is very clearly, um, mentioned as something to, to pay off saving. Um, there's several examples of like, you gotta save first, spend the rest, and then, um, taxes that you're going to are mentioned, like you got to pay taxes. Um, but I think the, the takeaway I have, it's like, I don't see it doesn't it does basically.
Speaker 1 00:20:29 It's like a discourages, like material focus and encourages, like giving, saving, paying off debt, paying tax taxes first and making a plan for those things to happen first, before you start to, you know, take care of. Uh, and so I think that's the big takeaway and those are the hardest things to do. And they all require kind of like some intentionality, which is what a plan is, is kind of making an effort to get those carved out first. Otherwise you're going to tend to gravitate towards just spending what's leftover, which is, you know, spending it all. And you know, that's not, you know what, whatever, you know, beliefs you have that most people are not, not going to be, um, are going to agree that that's not a good route to go down so quick, quick recap. Um, first takeaway, get those priorities in order to make sure money is not first second one giving charitable giving is very highly looked upon by God.
Speaker 1 00:21:33 Third is make that plan to give, save, pay off debt, pay taxes first, before you start spending the rest. So hope this has been helpful. There's all kinds of, like I said, it's mentioned like a ton of 2000 plus times in the Bible and there's all kinds of areas I'd be happy to dig into. I'm not, um, I'm a financial guy, so I'm, I'm an amateur at this, uh, religious stuff. I'm just, you know, doing the best I can with it to apply it to money, but I'm happy to dig into areas of this, especially if you're interested in that. Um, but today, uh, just wanted to kind of focus on those big takeaways and hopefully, uh, you can get a nugget or two of inspiration. All right, we'll talk to you next time as always, thank you so much for joining us today. If you found this valuable, please give us a review on iTunes and share with a friend.
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