Investing in your finances in alignment with your faith is a good practice for promoting financial returns while honoring God.
When evaluating a fund, be careful not to let its profit potential solely dictate your decision. Instead, extend your faith-based philosophies to your investment portfolio through biblically responsible investing (BRI).
Companies that help promote or fund addictions like pornography, alcohol, tobacco, gambling, or even violate human rights and support abortion have no place in a biblically responsible portfolio.
Your portfolio conforms to biblically responsible investing when it excludes entities that violate Christian values and instead incorporates funds that promote biblically ethical values.
Below are five tips for shifting towards a faith-driven portfolio that adheres to biblical norms.
1. Work With a Specialized Financial Advisor
There are many experts who can advise you on financial planning. While many provide helpful services, Christians should seek advisors who practice faith-based investing. You can depend on these specialists to build a financial portfolio that aligns with your beliefs and honors the Lord.
These professionals adopt a holistic approach and channel their efforts to help you achieve financial success. They can advise you on meeting your financial goals without sacrificing your beliefs and values. After all, multiplying your finances while remaining rooted in biblical principles is ultimately pleasing to God.
2. Initiate an Open Discussion
Before selecting your values-based financial advisor, review company websites and reach out to request additional information that outlines their financial planning process and any biblical fundamentals they follow. It also helps to have an open discussion with potential advisors. That way, you can make sure they share your values and will help you implement them in your financial planning strategy.
3. Closely Review Your Existing Portfolio
When you scrutinize your investment portfolio, you might discover some startling facts. It can be disheartening to find out that you’re profiting from or indirectly supporting immoral activities. Robust and advanced analytic technologies can help you learn if any companies in your investment portfolio fund sinful practices.
Before choosing a financial company, they may help you screen your existing portfolio, which will spark a fruitful conversation into how you can realign your investments in a way that’s honoring to God.
4. Explore Viable Options
Christian advisors can assist you in identifying investment options aligned with the teachings of the Scripture. Their training and expertise allow them to advise you with prudence and wisdom. Before suggesting a particular faith-driven fund, your advisor will evaluate a variety of factors, including risk elements, potential returns, and lock-in periods.
5. Compare the Fees
The type of investments you make determines the fees you are liable to pay. Mutual funds usually attract fees, while an exchange-traded fund rarely does. If there are fees, it’s typically a nominal amount. To be safe, get clarity from your advisor on any costs levied to factor in the required sum and assess its feasibility.
Trust an experienced financial team that believes in screening every investment company from a biblical perspective before advising you to invest in them.