Understanding the Link Between Money and Spirituality: A Confessing Christian’s Personal Finance Companion

By Dr. Cryford Mumba PhD and Pastor John Chibala

This is a religious book prepared specially for Christians so as to appreciate the relationship between money and spirituality. It is a personal finance book covering all the tenets of managing money God has blessed you in a godly money. The overriding aim is to help someone not to worship money but the True and Living God. The book will immensely help you to master money as designed by God. As you read this book open your heart to the leading of the Lord God so that at the end of it all His name will be honored and glorified.
About two-thirds of Jesus’ parables deal with money or material possessions. Over 2300 biblical passages refer to money or material possessions. There are only about 500 on prayer, and less than 500 on the subject of faith. Surely, if God gives it this much emphasis, we need to take the subject seriously.
Finances are a spiritual battleground. Money is the god of the world. It is everywhere worshipped. The love of money is the controlling factor in most lives. Money is deceitful. It is a lying lord, whom the world serves. You cannot serve God and money, for money is the image of a rival god. We need to be wise about money. Yes use money; do not avoid it, do not evade it and do not pretend it is beneath you. That is unspiritual. On the other hand, do not make it your god.
My primary aim being to offer you, dear readers, new ideas, new ways of looking at the subject of money. This book will not teach you any specific formula. Instead it will teach you how to learn and what to learn.

• Language: English
• Publisher: Trafford Publishing
• Release date: Oct 18, 2019
• ISBN: 9781490797953

Dr. Cryford Mumba PhD

Dr. Mumba is the Proprietor and Chief Executive Officer of Premier College of Banking and Finance, a firm specializing in financial training and consulting. He is also a Senior Lecturer at the Zambian Open University in the School of Business. He is the author of Understanding Money Intelligence, Understanding Statistical Analysis, Understanding Accounting and Finance, Understanding Financial Mathematics, Understanding Commerce, Understanding Principles of Accounting and a host of other Banking and Financial Services training manuals. He is also the Editor of The Student Banker Magazine and a columnist on financial matters for Business Analysis Newspaper.

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Copyright 2019 Dr. Cryford Mumba, PhD.

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ISBN: 978-1-4907-9794-6 (sc)

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CONTENTS

About The Author

Foreword

From The Author To The Reader…………

Chapter 1    Beware Of The Unrighteous

Mammon – How Well Do You Manage

This Unrighteous Mammon?

1.1 Final Thoughts Of This Chapter

Chapter 2    Ten Secrets Of Financial Fitness – How To Manage Money In A Godly Way?

2.1 The Ten Secrets Of Managing Money In A Godly Manner

2.2 How Financially Fit Are You?

2.4 Final Thoughts Of This Chapter

Chapter 3    Financial Relationship - What Is Your Relationship With Money?

3.1 Reveal Your Subconscious Feelings About Money

3.2 How Wisely Do You Manage Your Money?

3.3 Final Thoughts Of This Chapter

3.4 Your Financial Relationship Action Plan

Chapter 4    Financial Habits - How To Wield Godly Financial Habits

4.1 Habits-Behaviour Without Thinking

4.2 Financial Habits- A Special Type Of Habits

4.3 Your Habit- Control Process

4.4 How To Kick Self-Defeating Financial Habits

4.5 Your Financial Habit Control Action Plan

Chapter 5    Financial Planning - How To Wield Your Godly Financial Planning Skills

5.1 Benefits Of Financial Planning

5.2 Financial Planning - Whose Responsibility Is It?

5.3 Financial Goals-Where Do We Want To Be Financially?

5.4 Elephant Hunting-Set Goals And Bag The Big Game

5.5 Going On An Elephant Hunting Safari!

5.5 How To Deal With High-Payoff Expenditures

5.6 How To Deal With Low Payoffs Expenditures

5.7 How To Prepare A Personal Cash Budget – The Process

5.8 How To Prepare A Shopping List

5.9.1 Preparing Your Personal Shopping List

5.9.2 How To Prepare A Successful Shopping List

5.10 Your Financial Planning Action Plan

Chapter 6    Earning Money-How Do You Make Your Money?

6.1 Income Earning Opportunities

6.2 Earning Enough Income

6.3 Not Satisfied With Your Income

6.4 Good Ways Of Increasing Your Income

6.5 Bad Ways Of Increasing Your Income

6.6 Does God Want Us To Be Rich?

6.7 What Causes Income To Fluctuate?

6.8 Your Income Earning Action Plan

6.9 Final Thoughts Of This Chapter

Chapter 7    Spending Money – What Is The Best Way To Spend Money?

7.1 Enlightened Spending Of Money – Expenditure Drivers

7.2 Expenditure Self-Control Assessment Plan

7.2.1 Your Expenditure Action Plan

Chapter 8    Saving Money - How To Create An Emergency Fund?

8.1 Reasons For Not Saving Money

8.2 A Saving Challenge!

8.3 Responses For Some Responses

8.4 Reasons For Saving Money

8.5 The 10:10:10:70 Rule Of Saving Money

8.6 Final Thoughts Of This Chapter

Chapter 9    Investing Money-How To Build A Cash Reserve

9.1 Investment Goals/Why Invest Money?

9.2 Investment Risk

9.3 Tangible Versus Intangible Investments

9.4 Investment Vehicles

9.5 Your Investment Action Plan

Chapter 10    Borrowing Money-How To Borrow Money Wisely

10.1 Biblical Insights On Lending And Borrowing Money

10.2 Why Do People Borrow Money

10.3 Evaluating Your Borrowing Appetite

10.4 Good Versus Bad Borrowing

10.5 Sources Of Borrowing Money

10.6 How The Money Will Be Used

10.6.1 Parameters For Evaluating Your Loan Request

10.6.2 Collateral

10.6.3 Model Loan Application Letter

10.6.4 Personal Financial Statement

10.7 Signs Of Debt Trouble Or Indebtedness

10.8 Breaking The Cycle Of Indebtedness

10.9 Your Borrowing Action Plan

Chapter 11    Financial Decisions – How Financially Decisive Are You?

11.1 How Decisive Are You?

11.2 How To Improve Your Decisiveness

11.3 Final Thoughts Of This Chapter

Chapter 12    Tithes And Offerings – How Faithful Are You?

12.1 Stewardship

12.2 Tithes: What Are They?

12.3 Offerings

12.4 When We Stumble?

12.5 Final Thoughts: Ten Common Questions On Tithing And Offerings

Chapter 13    Retirement-How Do You Wish To Live After Work Life?

13.1 Recap On Adult Life Stages

13.2 When Does Retirement Period Start?

13.3 Why Concern Yourself About Retirement?

13.4 Retirement Planning

13.5 Retirement Planning Process

13.6 Retirement Saving Vehicles

13.7 Final Thoughts Of This Chapter

Chapter 14    A Will-How You Wish Your Estate To Be Distributed

14.1 Common Terminology In A Will

14.2 What Is A Will?

14.3 Origin Of A Will

14.4 Requirements For Creation Of A Will

14.5 Six Reasons Why You Must Have A Will

14.5 Ten Common Questions On Wills

14.6 Final Thoughts Of This Chapter

Epilogue

ABOUT THE AUTHOR

Dr. Cryford Mumba read Economics at The University of Zambia and graduated with a Bachelor of Arts Degree. He complemented his Economics degree with the Advanced Diploma in Project Management (Institute of Commercial Management, UK), Diploma in Banking and Financial Services (Zambia Institute of Banking and Financial Services, Zambia), Diploma in Marketing(ICM, UK). He then expanded his knowledge of business through the accountancy program (ACCA, UK) for which he is a finalist. He holds an MBA (MANCOSA, South Africa) with a thesis ‘Limited Access to Credit by Women Market Traders". Finally, he holds a PhD in Economics (Cambell State University, USA) with a thesis "Understanding Money Intelligence".

Dr. Mumba is the Proprietor and Chief Executive Officer of Premier college of Banking and Finance, a firm specializing in financial training and consulting. His specialist teaching areas include Financial Mathematics, Statistical Analysis, Corporate Finance, Financial Reporting and Economics. He has written extensively on banking and financial services course. He is the author of Understanding Money Intelligence, Understanding Statistical Analysis, Understanding Accounting and Finance, Understanding Financial Mathematics, Understanding Commerce, Understanding Principles of Accounts and a host of other Banking and Financial Services training manuals. He is also the Editor of The Student Banker Magazine and a columnist on financial matters for Business Analysis Newspaper.

He is also a Senior Lecturer in the School of Graduate Studies and Research of the Zambian Open University effective 2014.

He resides in Lusaka, married and an Adventist. His hobbies include reading and writing.

FOREWORD

Understanding the Link between Money and spirituality is written as a guide to all people especially Christians. Money in itself is neither good nor bad but how you acquire and use it may render it evil. The Bible in 1 Timothy 6:9-10 "But they that will be rich fall into temptation and a snare and into many foolish and hurtful lusts, which drown men into destruction and perdition. For the love of money is the root of all evil; which while some have coveted after, they have erred from the faith and pierced themselves through with many sorrows.

Bearing in mind the text above and the would be consequences of money, the author has written a profound book "Understanding the Link Between Money and Spirituality: A Confessing Christian’s Personal Finance Companion" a book which outlines the secrets of financial fitness, financial planning, spending of money, saving money, among other important topics. In these pages of the book, you will catch a glimpse of the heavenly vision of how to use God’s money which is entrusted to you as a steward to the honour, respect and glory of God.

Pastor John Chibala

District Pastor

Munali Misssion District of the Seventh Day Adventist Church

Midlands East Zambia Conference

FROM THE AUTHOR TO THE READER…………

If you have purchased this book yourself, congratulations! You clearly care about your financial well-being and would like to learn more on godly money management. If you received this book as a gift, it means you are loved. Someone cares about you and your financial well-being so much that they are willing to facilitate your transformation and support you along the way. I strongly believe that you will find this book sensible, manageable, and most important, immediately applicable to your situation, regardless of your age, sex, position, marital status or creed. Use this book as a means to make permanent changes to your financial life. It is possible.

About two-thirds of Jesus’ parables deal with money or material possessions. Over 2300 biblical passages refer to money or material possessions. There are only about 500 on prayer, and less than 500 on the subject of faith. Surely, if God gives it this much emphasis, we need to take the subject seriously.

Finances are a spiritual battleground. Money is the god of the world. It is everywhere worshipped. The love of money is the controlling factor in most lives. Money is deceitful. It is a lying lord, whom the world serves. You cannot serve God and money, for money is the image of a rival god. We need to be wise about money. Yes use money; do not avoid it, do not evade it and do not pretend it is beneath you. That is unspiritual. On the other hand, do not make it your god.

This is a religious book prepared specially for Christians so as to appreciate the relationship between money and spirituality. It is a personal finance book covering all the tenets of managing money God has blessed you in a godly money. The overriding aim is to help someone not to worship money but the True and Living God. The book will immensely help you to master money as designed by God. As you read this book open your heart to the leading of the Lord God so that at the end of it all His name will be honored and glorified.

Finally, I must sound a word of caution. This compendium does not have the best advice for you. As Warren Buffet says, Fortunately, there are many ways to financial heaven. This book is merely a guide, not an answer book, because in the real world there are no right answers. There are only answers that work for you. My primary aim being to offer you new ideas, new ways of looking at the subject of money. This book will not teach you any specific formula. Instead it will teach you how to learn and what to learn.

Godly money management is possible and rewarding.

Your Personal Financial Consultant

Dr. Cryford Mumba (PhD)

13th October 2019

Unless otherwise indicated, all texts are taken from the Authorized King James Version. Copyright © 2007 by Remnant Publications. Used by permission.

The author assume full responsibility for the accuracy of facts and quotations as cited in this book.

CHAPTER 1

Beware Of The Unrighteous Mammon – How Well Do You Manage This Unrighteous Mammon?

"If therefore ye have not been faithful in the unrighteous mammon, who will commit to your trust the true riches?" (Luke 16: 11).

OBJECTIVES

When you have finished this chapter, you will have been able to:

Once a few years ago, I was taking a walk with my nephew in the neighborhood. We came across a gated house in front of which was written Beware of Dogs. Trying to impress me my nephew read for me correctly and then interpreted in ‘Chitonga’ saying "Kusama Mubwa"!

Beware of dogs literally means look out for or be on your guard or take care of or mind of dogs. It is a warning for possible danger. It doesn’t mean we completely avoid using that route. In the same manner, "Beware of Mammon" does not mean that we have to avoid money as Christians. Rather, it means that we have to take care or be mindful as money can create more problems than solutions it can solve in our Christian walk. There is a direct relationship between our spirituality and the way we manage our money. In His earthly discourse, Jesus left no stone unturned with regards to this important subject matter.

About two-thirds of Jesus’ parables have something to do with money or material possessions while only one-third covers other things. The question that arises is, why did Jesus labor so much to explain man’s relationship with money? This is the focus of this book - to explain the link between money and spirituality. In this book we will labor to explain what constitutes correct ways to manage money so that we may not miss heaven.

To start with, let’s consider Luke 16:1-14 as a curtain raiser. Luke 16:1-14 reads, And he said also unto his disciples, there was a certain rich man, which had a steward; and the same was accused unto him that he had wasted his goods. And he called him, and said unto him, how is it that I hear this of thee? Give an account of thy stewardship; for thou mayest be no longer steward. Then the steward said unto within himself, what shall I do? For my lord taketh away from me the stewardship: I cannot dig; to beg am ashamed. Iam resolved what to do, that, when iam put out of stewardship, they may receive me into their houses. So he called every one of his lord’s debtors unto him, and said unto the first, how much owest thou unto my lord? And he said, an hundred measures of oil. And he said unto to him, take thy bill, and sit down quickly and write fifty. Then he said to another, and how much owest thou? And he said, an hundred measures of wheat. And he said to him, take thy bill and write fourscore. And the lord commended the unjust steward because he had done wisely: for the children of this world are in their generation wiser than the children of light. And I say unto you, make yourselves friends of the mammon of unrighteousness; that, when ye fail, they may receive you into everlasting habitations. He that is faithful in that which is least is faithful also in much: and he that is unjust in the least is unjust also in much. If therefore ye have not been faithful in the unrighteous mammon, who will commit to your trust the true riches? And if ye have not been faithful in that which is another man’s, who shall give you that which is your own? No servant can serve two masters: for either he will hate the one, and love the other; or else he will hold to the one, and despise the other. Ye cannot serve God and mammon. And the Pharisees also, who were covetous, heard all these things: and they derided him.

This is a parable of a shrewd manager or dishonest manager. Now, in this parable we are introduced four people; the rich man (owner of the business), the manager (steward), and the two debtors/borrowers. Finally, there is the thing that is being managed by the manager-business. These are always the key parties to any stewardship relationship. The steward is an employee who must account and take responsibility for all that he does as a steward. He does not own the business that he is running. Presumably, the rich man is Jesus and the steward is you and me. Jesus owns everything that we may claim as ours. He created everything that ever existed (John 1:1). We are but stewards of something that belongs to another. As stewards we are called upon to faithfully manage what has been entrusted to us to manage because in no time the owner will return and ask us to account. Are we going to be found unfaithful?

Let’s now consider the parable, in detail.

Firstly, lets us understand what subject Jesus is impressing upon His disciples, and in turn you and me. Luke 16:14 gives us evidently the subject that Jesus is teaching: Money. The Pharisees who were lovers of money derided Him because he suggested that there is a direct link between money and spirituality. Sophocles, the ancient Greek playwrit had a very strong opinion of the role of money. As he saw it, of all evils upon the earth, the worst is money. It is money that sacks cities, and drives men forth from hearth and home; warps and seduces native intelligence, and breeds a habit of dishonesty. Jesus, as God clearly understood the inherent universal temptation of money and he wanted to teach His disciples how to properly handle money so that they do not miss heaven as did Judas Iscariot. It is a lesson from the creator to teach you and me how to view money because we must live with it, work with it and use it until death. To avoid money is terribly unchristian!

Now the following are the key points we can take away based on the parable:

1. The first point is that the steward is relieved of his duties. This comment arises from verse 7 where his dishonesty was established. He wasted his master’s goods, embezzled them, misapplied them, or through carelessness caused to be lost and damaged and for this he was accused to his master. We are all liable to the same charge. We have not made an improvement to what God has entrusted us with in this world, but have perverted His purpose and it concerns us to judge ourselves.

His discharge is instant. The master called for him, and said, How is it that I hear this of thee? I expected better things from thee. The master is disappointed in him and does not take pleasure in dismissing him. The steward is guilty as charged and he must surrender all the properties under his care to the master and be gone for good (Luke 16:2).

This is designed to teach you and me that:

• We are all shortly to be discharged from our stewardship in this world. Death will come, and dismiss us from our stewardship and deprive us of everything