Most of us like to think we can handle our own money decisions. Yet the book of Proverbs returns again and again to the same theme: wise people seek counsel. When it comes to money, where mistakes can be costly and long-lasting, that advice is especially worth heeding.
What Proverbs says
“Without counsel purposes are disappointed: but in the multitude of counsellors they are established.” (Proverbs 15:22, KJV)
“Where no counsel is, the people fall: but in the multitude of counsellors there is safety.” (Proverbs 11:14, KJV)
“The way of a fool is right in his own eyes: but he that hearkeneth unto counsel is wise.” (Proverbs 12:15, KJV)
The common thread is humility. A person who insists on doing everything alone is vulnerable to blind spots, bad assumptions, and emotional decisions. A wise person asks for perspective, listens, and then decides.
Why counsel matters with money
Financial decisions are often emotional. Fear can make us sell at the wrong time, pride can make us take on risks we do not understand, and shame can make us avoid problems until they grow. A trusted advisor offers a calmer, outside view. They may also know things you do not, such as tax rules, insurance options, or the true cost of a product.
It is also true that not everyone offering advice has your interests at heart. Wisdom includes learning how to evaluate those who give counsel.
Who to ask
Good counsel can come from several sources. A mature friend or mentor who has handled money well can offer life experience. Your pastor or a church leader can help you think through the spiritual dimensions of a decision. A nonprofit credit counselor can help with debt. And for complex matters such as retirement planning, taxes, or estate planning, a qualified professional can be valuable.
How to evaluate a financial advisor
When you consider hiring a professional, a few questions can protect you.
First, ask how the advisor is paid. Fee structures vary: a flat or hourly rate, a yearly percentage of the money the advisor oversees for you, or commissions paid when products are sold. Commissions can create a conflict of interest, since the advisor may be rewarded for recommending certain products whether or not they are best for you.
Second, ask whether the advisor is legally required to put your interests first. An advisor under that obligation is known as a fiduciary. Many people prefer working with a fee-only advisor who is a fiduciary.
Third, ask about credentials and experience, and check their record with the appropriate regulators. Fourth, be wary of anyone who pressures you to decide quickly, promises guaranteed high returns, or cannot explain their recommendations in plain language. Finally, get a second opinion on any major decision.
Preparing for the conversation
Seeking counsel works better when you come prepared. Write down your situation on one page: income, regular expenses, debts, savings, and the specific decision in front of you. Write your questions in advance, including the awkward ones, such as how the person is paid and what they would do if the outcome is poor. Bring a spouse or trusted friend if you can, because a second set of ears catches what you miss. Afterward, give yourself a day before deciding. Counsel is meant to inform your judgment, not replace it, and pressure to decide on the spot is a reason to slow down. For the biblical background on borrowing decisions you may bring to such a meeting, see What Does the Bible Say About Debt? Proverbs 22:7 Explained, and for an example of sound planning, see Planning Ahead: What Proverbs Says About Budgeting.
A decision made with counsel
Fees can seem small but add up. Suppose an advisor charges 1 percent per year on a $200,000 portfolio. That equals $2,000 per year (0.01 times $200,000). For some people, that fee is well worth the guidance. For others with simple needs, a one-time flat-fee planning session might provide most of the value at a fraction of the cost. The key is to know what you are paying and what you are getting.
Asking these questions is not a lack of trust. It is exactly the kind of diligence Proverbs encourages.
Seek godly wisdom, too
Financial advice is not only a technical matter. Decisions about giving, career changes, family support, and risk involve values. It can be very helpful to talk with someone who shares your faith and can help you think through how your convictions apply. Their advice should not replace professional expertise, but the two often work well together.
Listen, then decide
Counsel is not the same as obedience to whoever speaks loudest. Proverbs praises those who listen, weigh what they hear, and take responsibility for the final decision. Pray, consider the advice, check it against Scripture and your circumstances, and choose with a clear conscience.
A prayer for a teachable heart
Lord, give me the humility to ask for help and the discernment to recognize good counsel. Surround me with wise people, protect me from those who would mislead me, and guide each decision I make. Amen.
To think about this week: Who in your life has shown wisdom with money? Is there a decision you are facing that you could discuss with them this month?
More on the same theme: Planning Ahead: What Proverbs Says About Budgeting, Is Investing Biblical? Understanding the Parable of the Talents, Should Christians Co-Sign a Loan? What Proverbs Says About Surety, and A Prayer for Financial Wisdom: Scriptures to Pray Over Your Finances.
Scripture quotations are from the King James Version (public domain). This article is for education and inspiration and is not personalized financial advice.