Are you proud of how you manage your money? Managing your finances can be a challenging task. This is especially true for us Christians who often view wealth as something to be ashamed of. However, this is not true. Being rich in spirit doesn’t necessarily mean suffering financially. You can build your wealth and pass on your riches and your vision in life to the next generation.
Learn how to manage your money wisely with Leo Marte. He joins us for an interesting conversation about wealth, faith, and the future in this episode of Seek Go Create. Leo shares his insight on people’s different perspectives of money and how we can approach it in a way that would make God proud. Get to know more about the importance of managing your cash flow and planning for the future, especially in today’s economic situation.
It’s time to take a look at your finances. Join us in this episode to learn more about how you can make God proud by handling your wealth wisely!
3 Reasons to Listen:
- Find out why it’s important to have a plan for your finances.
- Understand how you can start managing your cash flow today for a better future.
- Get an insight into the economic crisis the people face today and learn what you can do to overcome it.
- Visit the Seek Go Create website for show notes, resources, and much more!
- The Pantry Podcast
- Check out the Abundant Advisors website for their courses and other resources
- The Faith Driven Entrepreneur Movement
Leo Marte is a financial advisor. He is passionate about helping Christians with faith-based financial planning and investment advisory services. After years of working in a corporate career, he found his calling and started Abundant Advisors, a Christian-focused firm. Leo works with his clients to assess their goals and needs, and create and implement a financial plan and other services that help manage their finances.
[02:15] Meet Leo
- Leo helps people manage their money wisely and build generational wealth. Generational wealth isn’t only about passing down your assets. It also means passing down your values and vision to your family.
- Wealth has always been a part of the scriptures. Your relationship with money can say a lot about your relationship with God.
- Growing up, Leo and his family were part of the lower middle class. He was taught to be a wise steward of money.
- The Old Testament, Sunday School, and sermons left an impact on him. They shaped his maturity and understanding not just of the Scripture but also of money.
- He learned about finances at an investment firm and found his calling to start his own firm. There, he works with people to tackle their mindset and relationship with money.
“God has a lot in store for his people. A big part of that is how they interact, their relationship with money says a lot about their relationship with God. They're very closely connected.” - Click Here To Tweet This
[11:20] Redefining Life
- Leo’s corporate career was focused on getting high up the ladder. As he stepped into higher positions, he realized the job became more and more stressful.
- No matter how high his position was, he was still limited in his ability to implement changes. In time, he realized this wasn’t God’s calling for him.
- Leo sought something new that was aligned with his beliefs. He went and created his own firm that gave him freedom and flexibility.
- When his son was born, Leo realized he didn’t want to miss out on spending time with his family.
- That realization encouraged him to make a choice and change the direction of his life.
[17:51] The Importance of Managing Cash Flow
- An issue for upper-middle-class Christians is how they manage cash flow.
- People tend to inflate their lifestyle based on how much they’re saving instead of saving for the future. They end up not saving enough to sustain their lifestyle.
- You need to make a choice to change your lifestyle now and be able to sustain this new lifestyle.
- Create a rational spending and investment plan. The earlier you start to manage your money, the more wealth, freedom, and independence you can gain later on.
“It's a constant battle between how much do I enjoy today, and live in terms of inflation of lifestyle today based on what I'm making? And how much I am preserving and saving for the future?” - Click Here To Tweet This
[23:32] Filtering Your Spending
- Having a goal or target in mind can help go further to achieve them. Figure out what gives your life satisfaction.
- Your values are your filter for spending. They can help you figure out your consumption.
- Your perception and attitude towards money can change. There is no right or wrong way. Reflect and ask yourself if God would be proud of how you’re managing your budget.
- Space can dictate your spending patterns. The bigger the space, the more things you need to fill it. You need the self-discipline to manage your money rationally.
- People often try to justify their spending. Remember that it’s okay to have nice things. What matters is balancing it.
[27:28] “If God were to look at our budget, would he be proud of the way that we're managing what we have? And that's ultimately what matters.” - Click Here To Tweet This
[35:27] Today’s Financial Situation
- The past year has undoubtedly been challenging. The COVID pandemic has rocked the economy and triggered inflation and other problems.
- Remember that this too will pass. The market will keep on going and growing. Look at the situation contextually, calm down and make sure you have a plan.
- Plan for your finances to protect yourself from the changes that happen in the market. Be smart and stick to your plan.
[39:33] “Be smart, create a plan, and stick to your plan. Because plans are hard to stick to when crazy things are happening out there. “ - Click Here To Tweet This
[40:16] Looking at the Market Trends
- Nobody can predict how the actions the feds will take would affect the economy. They’re willing to do what it takes to control inflation.
- The United States has the highest and fastest interest rate increases. Due to this, inflation has slowly stopped and is now going down.
- It can usually take 18 to 24 months of a recessionary environment for the economy to readjust.
- Step back and look at the long-term perspective to help you see the upward trend in the market.
[43:29] The Potential of Cryptocurrency
- Cryptocurrency has a lot of potential in the world economy. It addresses issues that the traditional finance ecosystem doesn’t.
- People need to be careful when stepping into cryptocurrency. Unfortunately, many people misuse the system.
- The platform for cryptocurrency is a solid system. The technology for it can stay even years later.
[47:25] Working with a Financial Advisor
- People are often busy and don’t want to spend their time figuring out their finances. Some people want to create plans for their retirement.
- Leo also works with people throughout their careers to walk them through the process of managing their finances and investments.
- When looking for a financial advisor, it's important to look at the person's character. A designation, title, or license doesn’t say anything about the quality of their work.
- Financial advice touches on every aspect of your life. Make sure your advisor shares your values and beliefs so they can give advice that aligns with your vision.
- The best filter for the advice you receive is the scripture.
[52:32] “Financial advice is very different because it touches every aspect of your life. So if you don't share the value system with the person you're working with, you're gonna have a problem. Because this person is going to take you and guide you and provide you advice and wisdom that is not in alignment with where you want to go in life.” - Click Here To Tweet This
[55:28] What is Generational Wealth
- The Old Testament emphasizes long-term planning. God was planning the story of His people and wealth played a role in the story.
- The scripture shows that wealth is a result of wisdom applied consistently over time.
- Majority of the people want to consume all of their wealth. Leo feels that this is what goes against biblical wisdom as long-term planning is a part of wisdom.
- Break the cycle of generational poverty. Have an enjoyable life while still creating a blessed future for the next generation.
[56:36] “Wealth tends to be an outcome of wisdom applied consistently over time.” - Click Here To Tweet This
[1:01:14] What Success Looks Like for Leo
- Humans have the unique ability to create and add value.
- Creation can change people’s lives.
- Leo asks you, what is it that God is calling you to create?
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