Honouring God through our finances

Jan 10, 2025

Faith and Finance - Hazel Ong-Archibald
We have now entered into the second week of January 2025. Many of us have returned to our routines. Those with children may already be planning for the upcoming holidays, as the month-long public school break begins next Friday (January 17).

Our bodies and minds might feel misaligned as we’ve just adjusted to the work and school momentum after the New Year celebrations — and now the holidays are starting again!

For those celebrating Chinese New Year, it’s another period of intense preparation: the exodus back to hometowns, gifts for loved ones, and angpows for children, singles, and elders.

In my household, this year is especially significant as our daughter will be sitting for her IGCSE examinations. This means exam fees to pay, in addition to school fees and other start-of-year expenses.

It’s undeniably an overwhelming season. Even writing about it feels stressful!

Many of you, especially parents, might resonate with these scenarios. For those without children, other important demands likely compete for your attention and resources.

So, what happens to the list of important goals and dreams we so eagerly set at the end of 2024 and the start of 2025? Have they faded in the face of daily demands? And, most importantly, is God anywhere in the mix?

As we re-evaluate our goals and priorities, financial stability often takes centre stage, especially with rising living costs. However, as Catholics, our approach to personal finance is unique — we aim to balance material needs with spiritual well-being, generosity, and trust in God’s providence.

My own experience has taught me that no matter how challenging things become financially, when we place our trust in God, He provides. The Lord always comes through when He is at the heart of our lives — including our financial planning.

In addition to being a Licensed Financial Planner, I had the privilege of participating in a Catholic programme on personal finance called Navigating Your Finances God’s Way (NYFGW) in 2019. It was a revelation to learn that the Bible contains over 2,500 verses about money and possessions. This programme proved invaluable in preparing my family and I when navigating the financial challenges brought on by the COVID-19 pandemic.

Allow me to share some practical steps to manage your finances while remaining faithful to your beliefs.

1. Begin with Gratitude and Stewardship
Catholic teaching reminds us that all we have is a gift from God. Our wealth, talents, and resources are entrusted to us, not for selfish accumulation but for stewardship.

Take a moment to reflect on your financial decisions. Are you prioritising God’s will in the way you manage your resources? Begin your financial planning with a prayer of gratitude, seeking guidance to be a faithful steward of God’s blessings.

2. Set Clear, God-Aligned Goals
Financial goals are vital for stability and growth. However, as Catholics, our goals should align with our faith. Ask yourself:

Do my financial goals support my family’s well-being?

Am I allocating resources for acts of charity? Are my spending habits consistent with simplicity and humility? Consider creating a financial vision statement that integrates these values. For example: “To provide for my family, serve the needy, and live free of financial anxiety through responsible stewardship.”

3. Budget with Purpose
A budget is a powerful tool for staying on track. List your income and fixed expenses (e.g., housing, utilities, giving/donations), then allocate funds for variable costs like groceries, transport, and leisure.

Include specific categories such as:
Tithing and Donations: Commit to supporting your parish or charitable causes. If finances are tight, consider giving your time to serve your community. During the pandemic, my BEC reached out to nearby communities with food supplies and donations. These acts of charity not only uplift others but deepen our faith. Emergency Savings: Set aside funds for unforeseen circumstances. This act of prudence equips you to face challenges without financial despair.

4. Avoid Debt as a Burden
“The borrower is the slave of the lender” (Proverbs 22:7). While some forms of debt, such as mortgages or student loans, may be necessary, excessive borrowing can lead to stress and hinder generosity.

If you’re in debt, create a repayment plan. Focus on clearing high-interest debts first and work steadily towards financial freedom. Organisations like Compass Catholic Ministries in Malaysia, which facilitate the NYFGW programme, can provide valuable guidance.

5. Invest with a Conscience
Investing is a prudent way to grow wealth, but as Catholics, our investments should reflect our values. Avoid supporting industries that contradict Church teachings, such as those involved in abortion, pornography, or exploitative labour practices. Faith-based investment funds can help align your portfolio with your principles.

6. Practise Generosity and Almsgiving
Generosity is at the heart of our faith. Jesus said, “It is more blessed to give than to receive” (Acts 20:35). Giving — whether through tithing, charity, or helping a neighbour — reflects God’s love for the world. Remember, generosity isn’t limited to financial gifts. Share your time, talents, and prayers. This holistic approach enriches both the giver and the recipient.

7. Teach Your Children About Finances
Teaching children about money helps them develop gratitude, responsibility, and generosity. Practical steps include:

Dividing their allowance into “spend, save, and give” categories.
Involving them in family discussions about budgeting or charitable giving.

Leading by example with your own financial habits.

8. Trust in Divine Providence
Even the best financial plans can be disrupted by life’s uncertainties. In these moments, lean on your faith. Scripture reassures us: “Do not worry about tomorrow, for tomorrow will bring worries of its own” (Matthew 6:34). Trust that God will provide for your needs and guide you through challenges.

9. Seek Guidance and Community
Managing finances can feel overwhelming. Seek advice from financial advisors who respect your Catholic values, or join workshops or parish groups focused on stewardship.

In the end, personal finance is more than numbers. It’s about living a life of purpose, generosity, and trust in God. As we embrace 2025, let us commit to managing our finances with wisdom and faith, remembering the words of St Francis of Assisi: “It is in giving that we receive.”

If you’re unable to implement all these steps immediately, that’s okay. Personal finance is a journey, and each step forward is progress. My family and I are on this journey too.

Many times, it might feel like one step forward and two steps back, but keep at it and pray for God’s strength to stay on track. Let us pray for and support one another as we strive to honour God through our finances.

Hazel Ong-Archibald is a Licensed Financial Planner with over two decades of experience in investment, insurance, and estate planning. Since year 2000, she has been guiding individuals and families towards financial stability. Hazel is passionate about integrating Catholic values into personal finance, helping others achieve their financial goals while living a life of generosity and trust in God’s providence.