A connection between faith and finances might not seem obvious. But the two are linked more closely than you might expect.
Religious people are far more likely to donate money to both secular and religious charities:
Philanthropic studies show that people with a religious affiliation give away several times as much every year as other Americans … In study after study, religious practice is the behavioral variable with the strongest and most consistent association with generous giving.
On top of that, finances affect people’s contentment in major ways. Finances are the number one cause of fights in a marriage and the second leading cause of divorce.
We can see that financial literacy affects both personal happiness and humanitarian generosity. But financial education can be difficult to access. It is not usually taught in schools and it can seem confusing or overwhelming at first.
Fortunately there are some really excellent resources available for understanding money management from the perspective of faith. These 5 resources are a wonderful starting point for financial education among Catholics or any person of faith.
1Compass Catholic Money Coaching
Compass Catholic, a not-for-profit ministry that presents biblical financial principles from a Catholic viewpoint, is offering a new money coaching service. Best of all, it’s free!
2Online financial literacy courses
God, Marriage and Money, designed for engaged couples, jumpstarts essential conversations about money management. The entire course can be completed between 60-90 minutes, an easy addition to marriage prep programs, and costs $19. Compass also offers a Bible study on personal finances and other books and courses.
37 Steps to Becoming Financially Free
This Catholic Guide to Managing Your Money is one you can’t miss if you’re working to master your personal finances.
4Catholic Family Federal Credit Union Financial Education Curriculum
Catholic Family Federal Credit Union has a curriculum for children’s financial education, explaining what kids need to know at each age. It pairs well with the helpful book Make Your Kid A Money Genius (Even If You’re Not).
5Financial Literacy Workshops
Search your local area for workshops: Many parishes and organizations such as Catholic Charities host in-person classes. If you can’t find one in your area, organize your own! Speakers from Compass Catholic are available, or reach out to local financial planners.
And today we celebrate...