Updated: May 13
As a devout Catholic, I want to make sure I'm managing my money in a way that aligns with my faith. Can you share the key principles of Catholic teaching that I should keep in mind when it comes to managing my finances?" - Matthew in Boulder, CO
Thank you for your question about the key principles of Catholic social teaching that are relevant to financial planning. As someone who believes in the importance of integrating faith and finances, I'm glad to hear that you're interested in exploring this topic further. In Catholic social teaching, there are several key principles that are particularly relevant to how you spend your money. These include the dignity of the human person, the common good, solidarity, subsidiarity, and stewardship.
The dignity of the human person is central to Catholic social teaching and emphasizes that each person is created in the image of God and has inherent worth and dignity. When it comes to managing your money, this principle means that we should prioritize the well-being of individuals and communities over profits or personal gain.
The common good is another important principle that Catholic social teaching emphasizes. This principle teaches that society should be organized for the well-being of all people, rather than just for individual or corporate interests. Making informed financial choices means taking into account the impact of our decisions on society as a whole and prioritizing the common good.
Solidarity is also an important principle in Catholic social teaching. This principle emphasizes the interconnectedness of all people and our responsibility to care for one another. When it comes to being financially mindful, solidarity means prioritizing relationships and the common good over individualism or self-interest.
Subsidiarity is a principle that emphasizes decision-making at the lowest possible level, where individuals and communities are best equipped to make decisions that affect them. In financial investing, this means prioritizing local and community-based solutions, rather than relying solely on top-down or centralized decision-making.
Finally, stewardship is a key principle in Catholic social teaching that emphasizes our responsibility to care for the earth and its resources in a responsible and sustainable way. This means prioritizing responsible and sustainable use of resources, rather than solely focusing on short-term gains.
I hope this overview of the key principles of Catholic social teaching has been helpful to you as you explore the intersection of faith and finances. Remember, the ultimate goal of financial planning should be the well-being of individuals and communities, and it's important to keep this in mind as we make decisions about our finances.
Sincerely, Evan Frazier
Evan Frazier is a Benedictine College graduate with a degree in Religious Studies and over a decade of experience in financial planning. With a passion for finances and a commitment to aligning himself with Church teachings, Evan is a trusted advisor for his clients. When he's not working, he spends his time with his four children and attending St. Francis in Castle Rock, CO. Send your questions to Evan@Tekwisefinancial.com.