Adam Baker, a fellow Personal Finance Blogger over at Man vs. Debt had a great post a while back about his issue with Dave Ramsey throwing in religious talk at the end of his radio programs.
In his video blog, Adam asked this question: Is Christianity the Only Path to ‘True’ Financial Peace?
Baker is admittedly not a Christian, but he is a huge Dave Ramsey fan.
The question came about because at the end of Dave’s show, he will usually sign off with something to the effect of:
“the only way to true financial peace is to walk with the Prince of Peace, Jesus Christ”
Baker’s question is a great one to ask. I appreciate honest and heartfelt questions like this, even if there are a myriad of answers that don’t agree with mine.
This question did get me thinking however about the role that “Religion” should play in our personal finances if any.
There were many interesting comments from Baker’s post – check ‘em out if you get a chance.
There’s a few questions that I think need clarification before we can answer the broader question:
What is Financial Peace
To me, this is really a theoretical question that depends on the person.
For some, financial peace means being completely debt-free, while others may feel that having a job and enough income to pay monthly expenses is financial peace.
Others argue that being in control of their money is financial peace. I hate to sound too postmodern, but financial peace varies from person to person.
What is True Financial Peace?
This is where it gets a little fuzzy. I’m not sure what Ramsey means when he says that the only way to true financial peace is to walk with the Prince of Peace.
I’m not sure if he’s just working a play-on-words or if he means that if you walk with Christ your finances will get cleaned up?
Perhaps some of you more intense followers of Dave can enlighten us on this.
What is True Peace?
Now this is an interesting question that as a Christian I would argue has only one answer. True peace comes when we have a relationship with Jesus Christ.
As imperfect people, we sin against a holy and just God constantly and we must deal with the consequences. Because God is a just God, He must punish wrongdoing.
Now, what if someone took the hit for you? What if God, in his rich mercy, decided to send his Son to take the blame and allow you to get off clean?
He did do that – and that is true peace! We don’t have to face the eternal consequences any more!
When we believe, turn from our wrongdoing and trust in Jesus – God allows us to escape the penalty that we deserved because Jesus paid our fine!
Should Religion Play a Role in Your Money Decisions?
Back to the question at hand – should your religion, whether it’s Hinduism, Islam, Buddhism, Judaism or Christianity play a role in your money decisions or do the two not go hand-in-hand?
My answer would be an emphatic yes! Here’s why:
I can only answer this with my Christian view, but as a Christian – I believe Jesus gave up His life so I could have eternal life and peace with Him.
Since He did that for me, the least I could do is submit every aspect of my life to Him – including my money.
I also believe that “the earth is the Lord’s and everything in it” – Therefore God, the creator of this world, owns it all. I am merely a steward who is managing property for someone else.
I want to make sure I’m managing my finances well for the King.
Also, the Bible is filled with verses relating to our use of and attitudes with money. God has given us a valuable resource to use to help keep us in check when it comes to our personal finances, why would we want to ingore that.
What Are Your Thoughts?
I’d love to hear your honest feedback:
Does religion/spirituality play a role in your financial plans - or do you think religion and money should be kept separate?
Great perspective, man. I’m stoked you’d pick this back up and put so much excellent thought into it.
My view on this are always changing and evolving. I think that’s part of the game.
Baker´s last blog ..New Site Design & MvD Featured in a Comic!
Thanks Baker! It was a great topic you put out there to begin with. Thanks for checkin’ the post out.
Jason´s last blog ..Does Your Money Define You?
I’m Catholic by baptism but rarely attend church and never pray.
I believe that if people follow the lord, and his teachings help them navigate the crazy waters of life and money, GREAT. I’m just not one of them. Maybe someday I will become more religious, it sure seems to help people get through life.
I enjoy reading blogs with a religious backdrop; this one, Bible Money Matter, and Debt Free Adventure. I’ve read most of the bible when I lived in China (not the easiest purchase in that country). I just can’t seem to get into church, or to give myself to the lord. I can’t explain why. I do think that when I was young and saw the church turn away my divorced mother, it had a negative effect on me.
I follow Dave Ramsey, but the religion part has never played a role in my choice to become debt free. Financial peace to me means, I’m not living pay check to pay check. It means that I have my retirement funded and my kid’s college taken care of. And the biggest benefit of Financial Peace to me is, my wife and I NEVER have to FIGHT about money again. Healthly discussion is needed, but NO more fighting.
Good post Jason.
Jeff´s last blog ..Is Your 401K Making a Comeback
As a Christian I’m careful to not make money the center of my life. It is a means to and end, not and end in itself. My blessings are many because of His grace in my life. I get encouragement from scripture about being content with what I have which is hard for me to do.
Ken´s last blog ..Recession Employment: Diversify Income Streams
Great post, Jason. Like you, the answer to the question is yes for me. As a Christian, I want to open the door to God in all areas of my life, including money. He’s given us a lot of direction in the area of finances through His scripture. I believe having financial peace is following God’s plan for finances. Financial peace is putting God first in this area by following His principles – get out of debt, have a steward’s mindset, give, save and spend wisely. Again, great post. Keep up the great work!
Jason @ One Money Design´s last blog ..Budgeting 101 – 3 Easy Steps to Create a Budget
I too appreciated Baker’s candor about religion and money.
I am guessing here about Ramsey’s byline: “the only way to true financial peace is to walk daily with the prince of peace, Jesus Christ”. I think DR, as a believer, wanted to stress that true peace is found not in money, but in Christ. However, he muddied the water when he threw in the word “financial”. It seems that he is limiting financial peace to be found only in Christ, as if financial peace can’t be found outside of Christ. I am not sure that is what he meant, but it sounds good to tag on to a financial call in program.
Of course this is speculation on my part, but we may be trying to read too much into Dave’s saying.
For me, as a Christian, I can’t imagine giving allegiance to a master without letting him rule my money.
I grew up strongly Catholic, but it was more of a tradition-building exercise than a true understanding of God. So I don’t consider myself a very religious person. However, as I grow older (and hopefully wiser), I’m coming to understand and question my relationship with a higher power (in a good way).
My approach to money kind of reflects something Baker said–while I don’t specifically infuse religion into my financial planning, my value system does that for me, and my principles for money management are inherently aligned with that of my religion (and most other religions, too).
Wojciech Kulicki´s last blog ..A Personal Finance Reading List
I think how you answer this question is going to be greatly impacted by your own personal belief system. For me, as a Christian, I believe that the only way to have true peace in your life is to give your life to Christ, and to live and love as he did. Does that lead to financial peace? Sure, it can. The Bible has a lot to say about the good stewardship of money, the wisdom of saving for a rainy day, and the importance of giving. But does that mean people who aren’t Christians can’t be financially successful? No, of course not.
When Ramsey says that “the only way to true financial peace is to walk daily with the prince of peace, Jesus Christ”, I think he’s saying that to truly have peace in your life you need to give up your selfish desires and selfish tendencies and live as Christ did – giving to and loving others sacrificially, something that isn’t going to be easy without having faith in Christ.
Peter´s last blog ..$25 Gift Card Giveaway: What Frugal Gifts Would You Buy With This Gift Card?
For a Christian, I don’t see how you could separate your religion from your money. Christianity please a role in what a buy, where I save and how I do my job. Religion touches all aspects of life and money is just one of those aspects.
TheDebtHawk.com´s last blog ..Getting Student Loans Can Be Career Suicide
Great discussion. I have to agree that if I ignore my very core beliefs in how I spend my money, are my beliefs really at the core or are they an add-on. Putting our tithing/giving as our first allocations of the month sets the stage for our lives and the rest of our finances. As a Christian I am somewhat conflicted on my own blog for not bringing my faith more to the front but it certainly tempers my views on money and life for sure. I really enjoy everyone’s healthy perspectives here, and it never ceases to amaze me what a cool community of people we have here.
Paul @ FiscalGeek´s last blog ..You Need a Budget (YNAB) 3.0 Personal Finance Software Review
Great discussion everyone!
@Jeff – your comments about being turned off by church because of a bad experience is unfortunately pretty common.
I appreciate you sharing your perspective. I’d love to hear about your China experience some time.
Jason´s last blog ..The Most Costly $7,500 Ever Made – What Would You Do For Money?
@Ken “[money] is a means to and end, not and end in itself.” — Great point! It’s easy to forget the main thing (our relationship with Christ) and replace it with other things like money. Contentment is a daily battle, but can be learned.
Jason´s last blog ..How to Manage Your Finances After a Divorce
I run a religious prosperity blog. I am a very active Christian (Mormon). While I believe that God wants us to be happy and prosperous, I also think its just not in the plan for everyone to be financially successful. We should learn financial skills and apply them as best we can and then the financial peace comes from an understanding that God is taking care of us (our prosperity) once we’ve done our part.
I know plenty of very devout Christians whose finances are terrible – has nothing to do with their faith… but more often than not, faith in God brings a peace to life (including one’s financial standing) that cannot be complete with that faith.
That’s what I understand Dave’s sign-off to mean.
Eric Poulin´s last blog ..Wealth May Or May Not Come To You, But Work Hard Anyway
Religion isn’t like a shirt that you wear when the occasion allows for it. It’s with you everyday; through all your activities including making financial decisions. Like others have said, the Scripture brings a lot of wisdom on how to handle your money. I don’t see how a devote person could separate the two.
Now do I believe that you have to walk with Jesus Christ to find true financial peace? No. I have too much respect for other religions to say there is only one religion or one way to manage your money. Achieving financial freedom doesn’t require that you be religious. Does religion help and provide comfort during difficult times? Yes. But it’s not a requirement.
Great topic you have here. The comments give a wide view of the various leaders in the financial blogging world. Keep up the great work Jason & All
Ultimately, we will all be judged in various areas in our lives and I think how you handle your finances will definitely be one area. Were we a slave to our money or did we use it to glorify HIM? Debt is only wrong (IMO) if it restricts you from other areas of your life especially glorifying God.
Insurance Paper´s last blog ..Prevent Frozen Pipe Break Insurance Claims
@Money Matters – You raise a good point in that surely non-Christians can be financially successful and have financial peace. Christians don’t have a corner on that market.
Jason´s last blog ..What Makes People Happy?
@ Fiscal Geek – you’re right, it is a cool community of bloggers here with some great perspectives. If you’re feeling conflicted about bringing a more Christian message to your posts perhaps you should throw one in every now and then. =) Or write a guest post on another blog.
Jason´s last blog ..How to Alter Your Finances by Becoming a Change Agent
@ Joe – your comment, “I can’t imagine giving allegiance to a master without letting him rule my money” is right on. He would cease to be the Master at that point right?
And of course that’s the struggle of the Christian life as well – letting go of all our little idols we have so that Christ can have all of our hearts not just portions of them.
Jason´s last blog ..Why You’re Off Track for Your Retirement (And What to Do About It)
Wojciech – Your comment and the fact that you have a baby on the way reminded me of me at about the time my son was born. I was having a conversation with a work friend, who was also a Catholic Sunday school teacher, in which I was expressing concern about something important related to being a parent.
In response to my comments, he asked me “do you pray?” I wasn’t a praying person at the time and answered truthfully, “no”.
“You will,” he answered, “you’re a father now”.
That was over 15 years ago. He was right.
Kevin@OutOfYourRut´s last blog ..Face the Future Informed and Without Fear
Kevin, you’re right, having kids does have a way of getting us on our knees more to pray!
Jason´s last blog ..The Procrastinators Guide to Last Minute Gift Ideas
In order to have “money decisions” to make one must first understand what money is. As I realize how far down the path of deception and fraud we have gone as a nation, as a hemisphere, and yes, even as a “church” I get more and more convinced all the “world” has in store is another Dark Ages as the entire world’s money system collapses.
We have an entirely fiat money system throughout the western world. It is an embrace, in a major way, of a system that has never worked before. We did not design and plan the implementation of this system, rather it was thrust upon us by the default of the US to continue backing the Federal Reserve Note with real dollars.
We have a system where “money” is supposedly created out of thin air. That single issue is at the core of faith and wealth. If such a system is true (looking at “church” coffers one would assume they believe such is the case) then what thanks is necessary for a Creator? After all, what credit can the Creator get if the printing press is the source of financial blessing? Fiat money is the epitome of man’s pride in my estimation and we will soon see the fall from that pinacle.
What will people do when they don’t have any money system at all? There will be nothing to buy anything with. Like I say, another dark ages is around the corner. How will people act then? That is when their faith will either sustain them or not. It will be a tremendous thing to face such calamity and I certainly wouldn’t want to face it without the promises He has given that we will not be forsaken.