MoneyWise Live


The Dangers of Stubborn Pride

August 27, 2018

It’s been said that the sin God hates the most is pride. Unfortunately it happens to be one of those sins that hardly ever shows up in the mirror. We can readily see it in others, but seldom do we think it applies to us.
 
In the 40 Day Devotional that’s part of the Financial Stewardship Bible, there’s a section titled Stubborn Pride Avoids Advice.  On this edition of MoneyWise Live, Rob West, financial teacher and president of Kingdom Advisers gives advice on pride.
 
If you want to know the heart of God related to your money, the Financial Stewardship Bible is the book. All 2,350 verses are highlighted for easy reference as you’re reading. In the center are devotions that will help you grow closer to God and understand His principles of money management.  

Proverbs 12: verses 1 & 15 - "To accept correction is wise, to reject it is foolish. Fools think they know what is best, but a sensible person listens to advice..."  

Proverbs 1: verse 5 - "A wise man will hear and increase in learning, And a man of understanding will acquire wise counsel..."
 
Two dangerous attitudes combine in a person who rejects advice; pride and stubbornness. Pride leads us to think more highly of ourselves than we should, and stubbornness threatens to make error permanent. 
 
Howard Dayton goes on to say, "There is a better way. Listen to advice..." and, not just any advice; choose your counselors with care. This is so important in handling our finances. The Bible is replete with admonitions to seek wise counsel. Whether that counsel comes from a Godly friend, a coach, or a professional, we should seek Godly advice. 
 
As we think about wise counsel, of course wise decision-making begins with knowing what the Bible says about our role as financial stewards, along with God's timeless money management principles for us.

Pride tells us that any financial success we have is because of what we've done, when in fact it's because of God's provision. This thinking leads us to believe that we're owners of what God has entrusted to us rather than accepting our proper role as stewards. 

Pride can also lead to really poor financial decisions. Think about the area of lifestyle. Pride can cause us to spend beyond our means to project a certain image or impress people rather than focusing on being a faithful steward. Pride tends to have the greatest power over us when we begin to feel successful. 

So, be on your guard and keep this area in check!

Next, Rob and Steve answer some listener questions at 800-525-7000 or via email at Questions@MoneyWiseLive.org:

  • If you're age 69 and wish to make a Roth conversion from a traditional IRA, what are the tax implications?
  • If you're age 60 and have sources of income to cover living expenses, should you consider putting $350,000 that is currently in a savings account into annuities?
  • If you're looking to sell your current house, should you do any renovations to the house first?
  • If you have a 401(k) in which you've lost money by managing the investments yourself, what is the wise move?
  • If you've heard you should setting aside $1000 a month plus paying off credit card debt as quickly as possible, which should you prioritize?
  • If your new employer is terminating a previous employer's 401(k) and offering distribution or roll-over, should you use a distribution to pay off credit card debt?
  • If you're wanting to sell your home and have some things that needing fixed that might take a good bit of money, should you fix the issue or just sell the house as it sits?
  • If you only have a car loan and no other debt, how do you know when you should consider buying a house?

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