Getting Established in an Unfriendly World
Understanding the unique financial challenges of the 'Getting Established' stage of life is crucial. This stage, often overlooked in financial planning, is a time when individuals in their early 30s face significant financial concerns. In a recent seminar I led at an Alliance church, I had the privilege of engaging with almost 50 individuals in this stage of life. Despite sharing core stewardship principles, such as God's ownership of all (Psalm 24:1) and the call not to be anxious (Matthew 6:25), they still expressed numerous financial anxieties. This experience has reinforced our need to provide tailored financial discipleship that addresses their unique challenges.
Understanding the root of their financial anxieties is key. Cashflow emerged as the primary concern, with thirty-three percent of the participants expressing some form of anxiety related to it. This is not surprising, considering that this age range is known to have the second most financially stressful lives, with only preretirement being higher.
Getting Established is difficult because there are so many things to juggle. Do I have the right job? Why haven’t I been promoted? How can I fund my lifestyle? Should I go back to school? What house should I buy? Is now a good time to have kids? Private or public school? Should one of us stay home full or part-time? How come my life feels so dull compared to my friend’s Instagram feed? It’s a tough period. The cashflow challenges were less about debt or establishing an emergency fund (each only 10% of the responses) and more about balancing life. Allocating scarce financial assets between these competing goals creates anxiety.
The number two concern, at over 20%, was retirement. People in this age range know that if they start saving sooner and the market performs okay, the compounded value of their assets gets a lot higher. They know that contributing less than the company match and missing out on free money is about as bright as turning down a raise. Yet, contributing to their retirement becomes just one more demand on their cash flow, one more stressor where they aren’t quite meeting expectations.
What wasn’t on the list? Giving. Only one person was anxious about their giving levels. Considering this seminar targeted church attendees and was offered by a stewardship and generosity ministry, this wasn’t a tremendous response. Before jumping to generosity, they first need to hear how they can reduce their anxiety.
How can we help this group better? Here are some key points I will emphasize with this age range:
God owns it all, and he loves you. We tend to emphasize the first part, which is high-minded and complex to apply. We omit the second, which lets them know they aren’t alone and that God wants them to succeed.
Acknowledging the challenges we face with a sense of hope is essential. Balancing the actual and perceived demands on our lives can be daunting. However, as Jesus reassures us in John 16:33, “In this world you will have trouble, but I have overcome the world.” Acknowledging our challenges with hope can empower us to navigate our financial journey with resilience and faith.
Excellence is not the goal. Some anxiety comes from their desire to be excellent financial managers. Financial excellence emphasizes “hacks” over “heart.” In nearly every case, striving for excellence likely adds more stress than it produces returns and overstates the importance of maximum financial efficiency. (Read the article.)
It's important to understand that giving is not just a financial obligation, but a crucial aspect of financial stewardship. It serves as an antidote to the world’s poisonous message of materialism and self-centeredness. By giving a percentage of your income to the kingdom, you acknowledge God's abundant blessings and free yourself from the pressure to match every expectation you had for your life or the lifestyles of your peers. This act of giving can inspire and motivate you on your financial stewardship journey.
