Lessons in Impulsive Decision-Making test

Welcome to The Bible Money Journal, a brief for Christian professionals who want to learn more about God’s ways of managing money. In each edition, I share a verse, a story, and a money lesson to help you in your journey.

This brief is a resource for navigating the scriptures through the lens of financial planning and learning how to apply them in your life.

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Genesis 25:29-33
29 One day when Jacob was cooking some stew, Esau arrived home from the wilderness exhausted and hungry. 30 Esau said to Jacob, “I’m starved! Give me some of that red stew!” (This is how Esau got his other name, Edom, which means “red.”)
31 “All right,” Jacob replied, “but trade me your rights as the firstborn son.”
32 “Look, I’m dying of starvation!” said Esau. “What good is my birthright to me now?”
33 But Jacob said, “First you must swear that your birthright is mine.” So Esau swore an oath, thereby selling all his rights as the firstborn to his brother, Jacob.

The Dangers of Short-Term Thinking

In this story, Esau, the older of the two brothers, returns from hunting one day feeling hungry. Jacob had been cooking stew and offered Esau some in exchange for his birthright. Esau, not caring about the long-term consequences, agreed and sold his birthright to Jacob for a bowl of stew.

This story teaches us about the dangers of short-term thinking and the importance of considering the long-term implications of our decisions. Esau's hunger was a real and pressing need at the moment, but he failed to consider the value and significance of his birthright, which was a much more valuable asset in the long run. Similarly, when it comes to financial planning, we must be careful not to make decisions based solely on our immediate wants and needs but to consider the long-term consequences of our choices.

I recommend carefully considering your options and weighing the pros and cons of each decision. This can help you avoid making decisions that may have negative long-term consequences.

Esau decided without consulting anyone else, which led to a poor outcome. Seeking wise counsel is an important part of making sound financial decisions. Whether consulting with a financial advisor, seeking advice from trusted friends or family members, or doing your own research, it's important to gather as much information as possible before making important financial decisions.

Moving Forward

Here are some actionable recommendations when faced with financial decisions:

Think about your long-term goals

Just as Esau failed to consider the long-term value of his birthright, we can also get caught up in our short-term desires and neglect our long-term goals. I encourage my clients to step back and think about their long-term goals, such as retirement, buying a house, or saving for their children's education. By focusing on these long-term goals, we can make better decisions in the present that will help us achieve them in the future.

Avoid impulsive decisions

We can be tempted to decide based on our emotions or desires. I recommend carefully considering your options and weighing the pros and cons of each decision. This can help you avoid making decisions that may have negative long-term consequences.

Seek wise counsel

Whether consulting with professionals or finding vetted sources of information, getting external perspectives is key before making a decision.

By taking these principles to heart and applying them to our financial planning, we can make decisions that not only benefit us in the short term but also set us on a path toward long-term financial success.

Leo Marte is a Christian financial advisor and CERTIFIED FINANCIAL PLANNER™. Abundant Advisors provides financial advice for Christians with convenient virtual meetings. Let’s talk if you are ready to make the next move.