Howard told an interesting story of how he went from leading a life of get rich quick pursuit to one of financial stewardship. After graduating college, Howard moved to Orlando Florida at the start of Disney World to try and strike it rich with real estate investments. Through the wise counsel of his wife, Howard was saved from what could have been a detrimental investment. Thankfully, Howard backed away from the deal and later went on to start Crown Financial Ministries, a ministry dedicated to teaching people Biblical Financial principles.
Breakfast with Howard Dayton
Howard’s speech focused in on many people who have been impacted by the economic crisis today. He mentioned there are more people with lost jobs and lost homes then there have been in a long time. It is more important than ever to manage money wisely and look to the Bible for direction with our finances. It’s time to “get back to the basics.”
Howard has never once received a pay check from his ministry due in part to his wise management of money. That’s pretty amazing if you think about it. He has found a way through the challenges society presents us, to live a life of financial freedom to give more and serve others. What an amazing life to live to find happiness and peace through the use of time and energy, with financial independence, to impart wisdom and coaching on those who need help.
Ah-ha moments in Howard Dayton’s life
People don’t realize the Bible gives direction beyond the first 10% of our income. It doesn’t just talk about giving, but also tells us how we should earn, save and spend.
There are over 2300 scriptures in the Bible about money. The Bible or God’s approach to finances is very different from what society tells us. God provides these principles because they please Him and to help us.
There were three key areas, Howard discussed, in which we can receive Biblical direction in regards to our finances in fighting these tough economic times.
Don’t go at managing finances alone. Howard reminded us of how many people think they don’t need counsel in the area of finances.
With money issues being one of the top causes for divorce, I think we need all the help we can get. If married, your wife should be at the top of your counselor list. In fact, it was Howard’s wife who by her wisdom and discernment led him away from the disastrous business deal.
Fatten up our piggy banks
We were reminded of how the savings rates for the American family have dramatically decreased over the last several years. After giving, we should be paying ourselves with savings. If all we make is spent every month, there is no room to protect against financial disaster or to invest for the future.
Get out of debt
Scripture tells us we are in servitude when we are in debt. The best thing any family or individual can do for themselves financially is to get rid of the debt bondage.
Howard could not live a life of financial freedom today without being free of debt. When we are debt free we are able to have more flexibility and positioned to take advantage of more opportunities.
Avoid car payments
One of the things Howard and his wife have done to stay out of debt is avoid car payments. In order to get on the track of living without car debt, Howard suggests driving a car at least 3 years after you’ve paid it off. During that time, continue making car payments to yourself. By the time “the wheels fall off” you should have enough savings plus any remaining equity to go and pay for a car with cash.
Biblical financial stewardship
The path Howard Dayton has taken in his life with money management is one of Biblical stewardship. He turned away many years ago from the get rich opportunities that are so prevalent in society today and shifted his purpose to one of giving and servitude. He helps others learn and apply financial principles which our built upon a solid ground. Today, more than ever, is an opportunity to step back and apply the basics to our finances which have held strong in the past and will forever in managing money wisely for everyday life.
Howard Dayton has written some excellent books from a Biblical finance perspective. I’ve included a few of my Amazon affiliate links below.
- Your Money Counts
- Your Money Map: A Proven 7-Step Guide to True Financial Freedom
- Free and Clear: God’s Roadmap to Debt-Free Living
Howard also has a new book about money and marriage. I haven’t read this book yet, but please let me know your thoughts about it in the comments if you’ve read it.
Photo by Crown Financial Ministries.