The Invisible Load: Financial Stress & How to Allow God to Lift It
“For where your treasure is, there also will your heart be.” (Matthew 6:21)
Do you feel overwhelmed by money and unsure where to start? Are you confused when acronyms like IRA, SIMPLE, ETF, SEP, HSA, or CD are talked about? Don’t worry, you are not alone! Honestly, you do not really need to know what they all mean. Like all industries, finance has its own language. Just like you don’t need to know the names of all the muscles in the body to get medical advice, you don’t need to know all the financial terms to get financial advice; you need the right advisor.
Depending on your situation, you may need more or less advice. Regardless, you need someone who can speak to you in ways you understand, help you know where you are, and guide you on the path forward. Your anxiety around finances probably comes from a lack of clarity, understanding, and/or trust in our Lord. None of these things are shameful, and they are all growth opportunities. As you become more educated, you will slowly feel the load lift.
Lack of Clarity
Let’s start with a lack of clarity. Do you know where you are or where you are trying to go? So often, we simply assume the goal for our finances should be to make enough money to pay all our bills and do the things we want, and then save as much as we can for the future. There is nothing inherently wrong with this idea; however, any goal this vague can leave us feeling overwhelmed, unsure how to act, and even unmotivated.
Finances are deeply personal, and the goals and plans surrounding them should be too. Everyone has different needs, desires, vocations, and responsibilities. With all of these come different financial goals and plans. As you search for clarity within your finances, you must begin by learning the current state of your finances and discerning the goals you feel called to achieve.
You can dive into the details of how to figure out your current position in this article. Briefly, you will need to gather all your financial data and find a way to organize it. Once it is organized, you can begin to see your financial picture. You will begin to understand where you save your money, where you spend your money, and what holes you might have in your budget or overall plans. (If you email me, I can send you a spreadsheet to get you started.)
This process creates clarity but may also bring up questions. Write those questions down. It could be things like: What retirement accounts do I have? Why do they have different numbers? Can I combine accounts? Do I need to be saving for a future home/car/college/retirement/etc?
As you consider your findings and your questions, more than likely you will begin to formulate goals or changes you would like to see. I recommend you bring these to our Lord and pray about them. How does He see these findings? What changes might He be asking you to make?
Before you move on to goal setting, I encourage you to dream about your life and future. As always, God is in control, and dreams may change, but understanding where you want to go and who you want to become (or more importantly, where He is leading you and who He is asking you to become) will provide the foundation to set the right goals and work toward clarity. Simply stating you want to grow your net worth is ok, but what is the why or the vision behind that? You want to dig deep; not only will that help with motivation to achieve the goals, but it will also allow you to set yourself up for success.
As you formulate these goals, be sure to be specific. You want to work SMARTer, not harder. Be specific and thoughtful. Remember that most goals you make have financial implications. Usually, there is something you will need to buy for them, maybe a raise in your salary associated with them, or maybe an opportunity fund you need to be building.
Once this is all clear or at least started, we can dive back into the finance side of everything. Looking at your current financial picture, what do you need to do financially to achieve your dreams? Do you need to make more money, to focus on saving in a different place, or to hire an advisor to help guide you? At this point, your list of questions is probably long. You may be finding some clarity, but you also may be finding more questions than answers.
It might be a good time to reach out to an expert, even if it is just for a brief consultation to discuss your questions and clarify what it all means. Finding clarity will help create a road map. When we have tangible steps, we are less stressed and more focused on achieving our dreams.
Lack of Understanding
As you begin to find the answers to your questions (either on your own or with an expert), your understanding of finances will begin to grow. The more you dig into your current financial picture, consider the financial implications of your dreams, and outline a path forward, the more you will understand what you need to know and what you do not need to know.
In the world of social media, we are bombarded with information and ads that oftentimes are irrelevant. All this information overwhelms us and makes us question whether we are doing the right things or know enough. Calm and peace will come when we understand our plan, our finances, and our goals. We can then filter out the information that is irrelevant. Understanding what is important to you will provide even more clarity and continue to lighten the load of financial stress.
Lack of Trust in Our Lord
Finally, with clarity and understanding, we also must trust our Lord to provide for us. We must understand that we are simply stewards and pilgrims on a journey home. He will provide for us – maybe not in the way we want – but He always provides. Trusting in Him will lead us down all sorts of paths we may never have expected. There is so much beauty in that, but there is also stress.
As we look at our finances, we must humbly remember we are not in control. We are simply doing our best to manage what God has blessed us with. It is our responsibility to have clarity, understanding, and knowledge to dutifully steward what He has entrusted to us, but at the end of the day, we must surrender and give our Fiat to God: “May it be done according to Your will.”
As we come to a deeper acceptance that even our finances are a gift from God, in our control, but in a much deeper way, in His control, we allow Him to lift the biggest part of the financial load. He wants to help us carry it. He wants to lead us to great things. Will you let Him?
Erica Mathews is a CERTIFIED FINANCIAL PLANNER™ Professional with Financial Counseling Associates, a family-owned financial planning and investment management firm. She helps relieve financial stress with organization, automation and a plan, helping others manage their finances so they can live as God is calling them to. She lives in Colorado with her husband and four kids; they love CrossFit, rock climbing, gardening, and exploring. Erica’s email is erica@fca-inc.com