Automating Financial Wisdom
I almost titled this post, “You Can’t Automate Financial Wisdom.” But then I realized, you can.
A little background
I have a love/hate relationship with financial automation.
On the one hand, automation can be a wonderful help. In our household, we have some of our bills set up as auto-pay — those that cost the same amount every month. For others, I prefer to check them for accuracy before paying them online.
I also use automation to make my twice-monthly contributions to my employer’s 401(k) plan. And our online budget tool automatically records and even categorizes much of our cash flow—a big time saver.
On the other hand, automation has a downside. My concern is that millions of people are now having financial actions automatically taken on their behalf without really understanding why those actions are being taken and whether they are even the right actions.
Putting the cart before the horse
If automation is to work effectively, it cannot come first. Understanding our God-given identity and life purposes, and knowledgeably choosing daily financial priorities that are in synch with that identity and those purposes, must come first.
If we understand and embrace who God made us to be — stewards of his resources, or as I prefer, wise builders…
If we’re clear about our God-given life purposes — to love God and people well and to make a difference with our lives…
And if we’ve set our financial priorities in a way that reflects that identity and enables us to fulfill those purposes—where we give and save portions of all that we receive, avoid the bondage of debt, invest patiently, and spend wisely…
If automation is used to help carry out all of that, it can be a very good thing. But identity, purpose, and priorities must lead; automation must follow.
Identity is the ultimate automation
Knowing who we are is the ultimate form of automation because it guides us in all sorts of decisions—financial and otherwise.
At times, we may have to consciously ask ourselves, “What would a steward of God’s resources do in this financial situation?” But the longer we live a life of faith, and the more God’s Word is written on our heart, the more our financial decisions become natural, second nature, or something very close to automated.
What aspects of your financial life have you automated? And how have you made sure that your identity, life purposes, and intentionally chosen financial priorities lead and automation follows?
Also, one of the best ways to ingrain biblical perspectives about all things early is to start early. To help your kids grow up with a biblical view of money, pick up a copy of my new book, Trusted: Preparing Your Kids for a Lifetime of God-Honoring Money Management.
Take it to heart: “Now it is required that those who have been given a trust must prove faithful.” – 1 Corinthians 4:2