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In today’s episode, Financial Advisor Tim Russell, CFP® and Pastor Drew Gysi will dive into the topic of rising interest rates. Before we begin, I would like to take us back to a passage of Scripture that I believe will speak directly to our episode today. That passage of Scripture is the Parable of the Talents found in Matthew 25, and we will be looking at vs. 25 through 27:
Mat. 25:25-27 (ESV): “So I was afraid, and I went and hid your talent in the ground. Here, you have what is yours.’ But his master answered him, ‘You wicked and slothful servant! You knew that I reap where I have not sown and gather where I scattered no seed? Then you ought to have invested my money with the bankers, and at my coming I should have received what was my own with interest.”
Looking at these few verses in light of our topic today, we can extract some transferable principles and understandings from these few verses:
- There is an expectation of the steward from the owner:
- The master did not just expect “babysitting” of his resources, he expected wise management and care.
- The master expected growth from his resources put into the care of the steward.
- The Master was even willing to accept the minimal growth possible (bank interest) from the resources that were in the steward’s care.
- The master had the right to speak into the foolish servant that chose to be totally safe and irresponsible with the resources put into his care.
- There is a reasonable, and easily obtainable duty placed on the steward.
- The steward could have done much, much more than the basic banking.
What To Do About Rising Interest Rates
As we ponder our economic environment today, we will be looking at three key areas that are impacted when interest rates change: Debt, Savings, and Investments. As we look at these areas, we will examine what the potential impact is of the interest rate change and I think it will be obvious in our discussion about its challenge or opportunity.
So join us on The Stewardology Podcast as we discuss in depth how your debt, savings, and investments are impacted by rising interest rates.
When deciding where to put your extra money, it’s a good idea to think about how it ties into your overall financial plan. Having a plan in place will provide you with clarity to manage your money that you’ll be thankful for not only now, but especially in the future. When coming up with a plan, consider seeking expert advice from a financial advisor — especially if you have more complicated money questions regarding topics like estate planning. More specialized topics can be hard to navigate and there’s no shame in getting a second opinion and some guidance.
If we live out God’s plan for our stewardship, and are faithful in allowing growth in the resources that are placed into our care, as we read in Mat. 25:29, we will receive more to care for. Then the Bible says, “they will have abundance.”
Continue to be, or start today in becoming a faithful steward with what God has put into your care. You can easily start by making sure your banking is in the highest interest bearing account that you can find! That would be a simple review, and/or a simple start.
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