What does it mean to be a Good Steward?

Being a good steward of your financial resources first requires that you accept the fact that you can’t take it with you.  Your financial resources are entrusted to you to do good in the world.

That means first looking after your immediate needs and those of your family. Everyone’s definition of their needs is different and I don’t profess to make judgments as to what your values are, but you want to take some time to define your values and if you have a spouse, what your shared family values are.

By this I don’t mean moral or spiritual values, but values that relate to how you will use your financial resources.  Naturally, your moral values will be reflected in your financial values, but you want to decide what influences your decisions about how you use your limited financial resources.

For example, you may place a high value on education so your decisions of what to do with any excess money might be to contribute to your children’s RESP’s.

Or perhaps, you value security above all else, which would mean you direct your financial resources toward retirement savings using conservative investment choices.

Perhaps you place a high value on your family’s health, which could mean you choose to buy higher priced organic groceries.

These value decisions are neither right nor wrong. But they do determine how you use your financial resources. If you place a higher value on your children’s education than providing them with a good time, your decision whether to take a Disney vacation or put the money in the kid’s RESP becomes clear.

Stewardship is about making sure you use your resources in a way that will further your most important values.