Three years ago, while a financial executive for a Fortune 300 company, I began counseling a few families at our parish on the basics of money management. The program combined the principles found in Sacred Scripture and the Teaching and Tradition of the Catholic Church with the practical tools families need to manage their finances. I remember the first counseling session like it was yesterday. There I was with a married couple, my Bible, the Catechism of the Catholic Church, and a few budget forms. After we sat down, I asked them to summarize their situation. I was shocked as I saw what this family was dealing with: eight credit cards with an outstanding balance of over $20,000, in addition to their home and car loans. The father described the pressure of the debts as a chain and lead weight attached to his leg!
A few months later, I heard about Steve's plan to start Saint Joseph's Covenant Keepers. I gave him a call to see if he planned on addressing the topic of family finances. We immediately struck up a friendship and he decided to include a regular column on finances in the newsletter.
I wasn't prepared for what would transpire over the next couple of years. As I counseled an increasing number of families and began to realize the magnitude of the financial problems they were having, it became clear that a more concerted effort was necessary. After some long talks, Chelsey and I concluded that it was time to leave the comfortable world of big business in order to begin a new apostolate, Financial Foundations for the Family.
How Big Is The Problem?
Maybe the following statistics will provide a better perspective on the financial problems facing American families today and why I started this apostolate:
49% of Americans don't pay their bills on time.*
65% have excessive debt.*
65% don't balance their checkbook.*
82% are failing to adequately save for the future.*
Charitable giving averages less than 2% for all Americans-but less than 1% for American Catholics.
50% of all marriages end in divorce.
A majority of those getting divorced point to finances as one of the primary causes of the breakup.
* David Michaelson and Associates for Mastercard International.
Our Mission: Sharing God's Plan For Family Finances
Financial Foundations for the Family is a 501(c)3 non-profit organization dedicated to restoring harmony in the family through sound financial practices based on Sacred Scripture and the Teaching and Tradition of the Catholic Church.
Over the last three years, it has been deeply gratifying to see families who had been caught in the trap of overspending and spiraling debt, take God's principles to heart and transform the way they manage their finances. Many have begun to budget for the first time in their lives, while at the same time aligning their financial priorities with God's principles. We have seen families begin tithing, alter their spending habits in order to live within their means, and eliminate debt.
How We Can Help
Financial Foundations for the Family is working on behalf of families in the following ways:
Publishing educational materials.
Counseling families on finances.
Conducting seminars.
Educational Materials
We are pleased to announce the release of our first two publishing efforts. Finances for Today's Catholic Family (see special offer for St. Joseph's Covenant Keepers readers on page 10) is a 128 page workbook which shows families clearly and concisely the wisdom we find in Sacred Scripture and Church Teaching on this important topic. It also provides the practical tools a family needs to break free of financial bondage by showing them how to get out of debt and insures their priorities follow Church Teaching.
Money Sense is our new bi-monthly newsletter. Here families will find ongoing help with their finances. They'll continue to learn about godly principles to guide their money management, but they will also receive home management tips, answers to their most common questions, and a wealth of additional helpful information.
Family Financial Counseling Available
While these resources will help families manage their finances in accord with godly principles, it is my belief that in order to be most effective, families must have the option of receiving one-on-one counseling. It is by "getting in the trenches" with families and helping them through their specific struggles that we can show them true Christian charity.
Do you always find that there is more month left at the end of the money and you can't seem to figure out where it's all going? Do you want to get out of debt but don't know how? Do you need help understanding how to practically implement tithing? We're available to assist you with the basics of family finances either by phone, letter, fax or e-mail.
Introducing Families To Financial Freedom With Our Seminar
One of the most effective ways for families to learn about God's plan for their finances is to attend our half-day seminar, "How To Achieve True Financial Freedom."
This workshop, for individuals and couples, combines principles of Catholic stewardship with practical applications using the budgeting plan developed by Financial Foundations for the Family. If you would like to hold a workshop in your area, contact us for further details.
More Than Finances…
Strengthening Families
You'll find that as you submit your finances to the Kingship of Christ, a transformation in attitude will occur which will strengthen your family. God's way will lead you to true financial freedom.
Highly Recommended!
Proper financial management is a key ingredient for solid family life today. True financial freedom depends upon men acknowledging Christ's Kingship over all that they have - especially their finances.
"The resources developed by Financial Foundations for the Family are based on the timeless principlescontained in the Teaching of the Catholic Church and provide the practical tools men need to manage this important area of their lives. They are perfect for use in SJCK men's small groups. They come with my highest recommendation."
- Steve Wood, Founder, St. Joseph's Covenant Keepers |
