As parents, transferring our beliefs and values to our children is of greater value than transferring our valuables. We recognize that beliefs and values will have a greater impact on their future than assets will. However, to communicate this, we have to clarify – what are our core beliefs, feelings and attitudes about wealth? More importantly, are these beliefs sound? Are they based on truth or lies?
Most of us are quite confident that our beliefs are based on truth even though they have not been clearly identified or cross examined. We are products of our environment with many competing ideas and experiences impacting us consciously and unconsciously. Often, cultural ideas have had a more formative influence on our ideology than truth.
The Bible, God’s Word, is an index for truth. Interestingly, the Bible has more to say about money and possessions than nearly any other topic – over 2300 verses. Ask yourself, “What are the lies that I believe?”. Systematically, search the Bible to see what it says about these ideas and look for truths to replace these lies. It will make a significant difference in how you view God and wealth. It is amazing how much culture has incorrectly influenced our understanding. This may take time; however, the long-term impact on family will be significant.
We would encourage you to put your thoughts, feelings and behaviours on paper and then through individual study and prayer, evaluate them in the light of God’s truth. Ask yourself, “What people, stories or events have impacted my view on money? What was my first experience with generosity? Was I a giver or receiver? Do I have a scarcity or abundance mentality?” (watch former NFL kicker Todd Peterson discuss this at http://www.gospelpatrons.org/training-videos/scarcity-or-abundance-mentality)
After watching the video, consider “What did my parents teach me about money (either through words or actions)?”
Answering these questions will enable you to craft your core beliefs as well as begin to discern the vision, mission and purpose God has given you for your family wealth. It will also sharpen your focus and magnify your impact as you move forward. “Remember, wealth is a tool; a means, not an end…and God has a purpose for your wealth.”*
Find more articles on family harmony that may help strengthen your relationships with the ones you love at covenant.ca.
*Wills, David, Parker, Terry & Sperry, Greg (2015) Family. Money. National Christian Foundation, page 30.
Covenant Family Wealth Advisors' certified financial advisors and business succession planning experts help guide families through the technical and emotional aspects of managing wealth, estate planning and business succession. Our experienced financial management team uses a Christian perspective that is rarely found in traditional financial planning, and we work closely with you to develop a personal Holistic Stewardship Plan that encompasses financial planning, estate planning, family business transition and philanthropy.