English statesman Francis Bacon once wrote, “Money is a great servant but a bad master.”

If we don’t learn to manage money wisely to take control of it, it will soon master us. It’s one way or the other. Today, Bob Lotich tells us how to be the master and not the servant when it comes to money—and he makes it pretty clear, as well.

Bob Lotich is a high-performance financial coach and Certified Educator in Personal Finance (CEPF®) and has been named a top-20 influencer in personal finance. His wife, Linda, and their award-winning website, SeedTime.com, as well as the SeedTime Money Podcast, have reached over 50 million people in the past decade. He is also the author of Simple Money, Rich Life: Achieve True Financial Freedom and Design a Life of Eternal Impact. 

The Wake-Up Call: A Breakdown Leads to Breakthrough

Bob’s story, which began in 2002 when his car broke down while he was on his way to deposit a paycheck, is one that many can relate to. He described how that moment of crisis led to a deep spiritual awakening about finances and stewardship.

Unfortunately, the car breaking down prevented him from depositing his paycheck and paying rent on time. Facing the stress of a possible late fee he couldn’t afford, Bob realized that his financial life was on shaky ground. He describes this moment as a "house of cards" that collapsed.

In his frustration, Bob prayed for wisdom, and that simple prayer became the catalyst for a profound change. God responded, leading Bob to learn about biblical stewardship and practical financial management.

Biblical Wisdom: Earning, Saving, and Giving

As Bob delved into the Bible, he came across a quote from John Wesley that changed his financial perspective: 

"Earn all you can, save all you can, and give all you can."

 This idea, combined with scriptural truths, inspired him to view money not as a burden but as a tool for good.

Bob reflected on passages like:

• Proverbs 13:11: "Gathering money little by little makes it grow."
• 1 Timothy 6:17-19: Paul’s admonition to the rich to be generous.
• Proverbs 22:7: The borrower is slave to the lender, which motivated Bob to eliminate debt.

These verses reinforced the idea that managing money well is not about hoarding wealth but using it for God’s purposes.

Financial Unity in Marriage

Bob also emphasized the power of financial unity in marriage. Once he and his wife Linda aligned their financial goals with biblical principles, their relationship strengthened. They not only eliminated stress but also achieved impressive financial milestones, like paying off their house by the age of 31. Bob’s story reminds us that peace in one’s finances can be a unifying force in marriage, helping couples move forward together more quickly.

The Four Keys to Earning More

Bob shared four essential principles for increasing earnings in today’s digital age:

1. Operate within God-given gifts and passions: Work aligned with your gifts gives you an "unfair advantage."
2. Continue learning and developing your skills: Hone your craft to glorify God.
3. Solve significant problems: You’re compensated in proportion to the size of the problem you solve.
4. Work where demand is high: Identify where there’s a need and meet it.

These principles guide believers to increase their earnings while keeping their hearts focused on God’s kingdom.

The Joy of Giving

One of the most impactful parts of Bob’s message was his perspective on giving. He and his wife created a "seed account," setting aside money each month specifically for giving. By praying and waiting for opportunities, giving became not just a duty, but a joyful and fun part of their lives. This practice reminds us of the joy Jesus spoke of when He said, "It is more blessed to give than to receive" (Acts 20:35).

Enjoying God's Provision

Finally, Bob encouraged believers to enjoy the financial blessings God provides. He highlighted the importance of gratitude and appreciating what we have. Whether earning, saving, or giving, we can find joy in every aspect of financial stewardship.

Bob’s journey teaches us that financial freedom isn’t about accumulating wealth for ourselves but about managing what God has entrusted to us with wisdom and generosity. We can design a life of eternal impact by earning, saving, giving, and enjoying God’s provision.

If you’re looking for more practical tips and biblical wisdom, Bob’s book Simple Money, Rich Life: Achieve True Financial Freedom and Design a Life of Eternal Impact is a great resource to guide you on this journey.

On Today’s Program, Rob Answers Listener Questions:

• I have a friend who is getting ready to retire as a union electrician and is really upset about losing $100,000 when the tariff news broke. I tried to tell him that the money would be made back once the markets recovered. Is my understanding correct that he will eventually get that money back? 
• I currently have $55,000 in a Roth IRA and $37,000 in a Traditional IRA. I’m about 30 years from retirement and contribute $200 per month to my Roth. Does it make sense to roll over the traditional IRA funds into the Roth? Would it be a good financial move for me?

Resources Mentioned:

• Faithful Steward: FaithFi’s New Quarterly Magazine (Become a FaithFi Partner)
• Simple Money, Rich Life: Achieve True Financial Freedom and Design a Life of Eternal Impact by Bob Lotich
• Seedtime.com
• Wisdom Over Wealth: 12 Lessons from Ecclesiastes on Money (Pre-Order)
• Look At The Sparrows: A 21-Day Devotional on Financial Fear and Anxiety
• Rich Toward God: A Study on the Parable of the Rich Fool
• Find a Certified Kingdom Advisor (CKA) or Certified Christian Financial Counselor (CertCFC)
• FaithFi App

Remember, you can call in to ask your questions every workday at (800) 525-7000. Faith & Finance is also available on Moody Radio Network and American Family Radio. You can also visit FaithFi.com to connect with our online community and partner with us as we help more people live as faithful stewards of God’s resources.

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