Content With Less
As president of Ron Blue and Company, Canada*, nothing frustrates Michael Gibney more than when he hears people equate poverty with spirituality.
He describes this as a ‘tail-chasing’ argument, because the same people who say it’s ‘un-spiritual’ to be rich are the first people to turn to the wealthy when they are in need of funds.
Gibney says it doesn’t matter who has the money, really, because God owns it all.
“This whole ‘poverty equals holiness’ thing comes from nowhere,” says Gibney. “The reality is, wealth can corrupt and poverty can corrupt. It’s lack of contentment that’s the real issue. I have known poor people who are happy and rich people who are happy, but it has nothing to do with their wealth.”
Addressing people’s lack of contentment is a primary focus for Gibney in his work at Ronald Blue and Co. He’s in the business of helping people learn to be content with less so they can free up their resources and make a greater difference in the lives of others.
Ronald Blue and Co.’s philosophy is simple: The better you manage your money, the more you will have to support the causes and interests you care about.
“This perspective on financial management separates Ronald Blue and Co. from every other financial service firm,” says Gibney. “Instead of simply focusing on profits, they strive to help people find a purpose for their wealth. We’re actually in the business of decreasing our client’s net worth,” says Gibney.
And that can’t be done without first addressing his clients’ lack of contentment.
Gibney begins by helping his clients understand five biblical principles of financial planning. They are as follows:
- God owns it all. (Psalm 24:1)
- We are simply managers of His resources.
- God can take whatever He wants, when He wants.
- Every spending decision is a spiritual decision.
- Stewardship cannot be faked.
- Set long-term, written, financial goals. (Proverbs 16:9)
- Spend less than you earn. (Proverbs 13:11)
- Avoid the use of debt. (Proverbs 22:7)
- Avoid a consumptive lifestyle. (Ecclesiastes 5:10)
Once clients begin to get their head around these principles, it’s not long before they begin to produce some significant, tangible results. Clients begin asking themselves questions like:
- How much do I really need to live on?
- How much should I leave to my children?
- When should I give it to them?
- What charities should I become involved with?
Over time, their focus begins to shift from multiplying their money to using it in a way that will have the most benefit to themselves and others.
“I have clients who are living on $60,000 a year but giving $1 million dollars away. They could be consuming more, but they’ve come to a place in life where they’ve said, ‘Enough is enough.’ Getting them to understand this is the key to helping them to become generous,” says Gibney. ”It’s awesome when you see it.”
Because of their fee structure, Ronald Blue and Co. only works with people who have a net worth of $1 million or more or who have a minimum of $250,000 of assets to invest. They help their clients become better stewards of their resources by offering advice in the areas of financial management, investment management, estate planning, tax services and charitable giving.
However, Gibney is quick to point out that you don’t have to be wealthy to benefit from Ronald Blue and Co.’s financial knowledge. Anyone can start living by the five biblical principles of financial planning and get results. Plus, Ronald Blue and Co. have a number of books and other resources that anyone can purchase. Their Master Your Money seminar has also been hosted in thousands of churches across Canada and the United States.
As Gibney points out, it’s not a matter of how much or how little money you have; it’s your attitude towards it that really counts.
* Ronald Blue & Co. Canada Inc. changed its name to Covenant Planning Group in 2004
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Whilst I think it is a great article about conserving our resources and investing in our spiritual future, where Gibney says, “This whole ‘poverty equals holiness’ thing comes from nowhere,” says Gibney. “The reality is, wealth can corrupt and poverty can corrupt.” is not exactly true as the bible does say “It is easier for a camel to pass through the eye of a needle than for a rich man to enter the kingdom of God” (Matthew 19:24). Whilst both can breed corruption, I think wealthier people have a harder time separating their god from their money as their life revolves more around it.
Otherwise great financial rules that I would strive to achieve.