7 STEPS TO BECOMING FINANCIALLY FREE

A Catholic Guide to Managing Your Money

by Phil Lenahan

OSV, 2006

172 pages, $19.95

To order: (800) 348-2440

osv.com

Accepting that God has a perfect plan for our lives is a tall order for many of us. But he’s even got specific ideas about our finances? Money seems so starkly “of the world” and not remotely “of the Kingdom.”

It’s for those struggling with the seemingly vast disconnect between the divine and the pecuniary that Catholic financial adviser Phil Lenahan launched Veritas Financial Ministries, of which this book is a part.

Lenahan, a Register “Family Matters” columnist, makes the case that our wisest financial goals spring naturally from the decision we make to faithfully follow Christ. Building on the foundation of this commonsense premise, he skillfully arranges stepping stones leading to money management that is both smart and sanctifying. Along the way we’re led deep into territory in which money is unable to exert controlling influence over us.

Lenahan makes no attempt to dissect key financial questions until he has fully explored the spiritual ones. “The most important financial decision you’ll make during your lifetime,” he writes, “will be to recognize that all you have comes from God and that he is sovereign over all things.”

There are enough notable quotes to inspire Lenahan’s fusion of finances with faith that you’ll want to clear some space on the family refrigerator. Maybe invest in some magnets.

The seven steps of the title are not complex. Lenahan shows that, like the spiritual life itself, financial freedom comes not by understanding certain difficult concepts, but by doing certain simple things. Develop a financial plan. Set aside six months of living expenses for a rainy day fund. Invest with purpose. And so on. He also offers useful tips on home-buying, college funding, estate planning and developing a sense of financial unity between spouses.

One of the book’s most worthwhile sections is a table showing how to portion the family budget into easily manageable categories. Based on gross income levels, the table assigns guideline income percentages to each category.

Other standout chapters include “Home Sweet Home,” which provides insightful guidance on buying a home, and “Breaking Free From Debt,” which outlines an accelerated debt-repayment plan. The latter presents a program for systematically paying off credit-card debt one card at a time.

The Bible makes reference to money and material things more than 1,000 times. Small wonder. God knows where our natural affections tend to lie. Read 7 Steps and find a freedom that can only come when we make a concerted effort to serve God over mammon.

Lynn Wehner is a copy editor with

Faith & Family magazine.