The Power of Starting Young (Compound Interest!)

Time is your most valuable financial asset. You cannot buy more of it, and you cannot get it back once it passes. Young people who understand this truth can build extraordinary wealth with modest contributions. Those who delay saving until their 40s or 50s must work much harder to achieve the same results.

I first learned about the power of starting young from The Money Guy Show's Wealth Multiplier. When I saw that someone investing just $95 per month starting at age 20 could become a millionaire by 65, I was sold. The numbers seemed almost too good to be true, yet the math checked out. That single concept changed how I viewed every dollar I earned.

What Does the Bible Say About Setting Goals?

Some Christians think goal-setting contradicts faith. They believe planning ahead shows a lack of trust in God's sovereignty. This misunderstands both sovereignty and stewardship. The Bible teaches that God plans, and He expects us to plan too.

God Has a Plan for Your Life

Ephesians 1:5 tells us, "he predestined us for adoption to himself as sons through Jesus Christ, according to the purpose of his will." God set goals before you drew your first breath. He planned your adoption, your salvation, and your place in His family.

Ephesians 2:10 continues, "For we are his workmanship, created in Christ Jesus for good works, which God prepared beforehand, that we should walk in them." God prepared specific good works for you to accomplish. He created you with intention and purpose. Your life follows His design, which means you should approach your days with intentionality that reflects His planning.

My 2026 Reading List

For the past several years, my goal has been to read at least one book a week for 52 weeks. I read the Bible every day. I have spent the last year in the book of Numbers (in Hebrew) and phrasing out 1 Corinthians. In the coming year, I plan to continue in Deuteronomy, and I will begin phrasing 2 Corinthians.

Read the Bible in 2026 for Nearness to Christ

As another year begins, I find myself drawn once again to the discipline of daily Bible reading. My motivation is simple: I want to know Christ. Because I am united to him by faith, his Word becomes the place where I meet him, hear him, and grow closer to him. The doctrine of union with Christ shapes how I approach Scripture. When I open my Bible, I am growing closer to the One to whom I belong.

Why Christians Read Daily

If you are in Christ, you are joined to him in a living relationship. You share in his death, his resurrection, his life. Paul says we are "in him" and he is "in us." This union grows and deepens like any relationship, and it requires communication.

Christ speaks to us through the Scriptures. Through his Word, the Spirit shapes our minds to think his thoughts, our hearts to love what he loves, our wills to align with his purposes. Daily Bible reading maintains intimacy with the one we are already united to. We read because we are connected to Jesus and he wants to speak to us daily. 

Reading Plans Worth Considering

If you are planning to read Scripture in 2026, a good reading plan helps. Here are several options that have served Christians well.

Robert Murray M'Cheyne's plan takes you through the entire Bible in a year, with the Psalms and New Testament read twice. It requires four chapters daily, but the benefit is comprehensive coverage. You move through Scripture quickly enough to see connections and themes, slowly enough to absorb what you are reading.

The ESV Reading Plan offers a similar year-long approach with slight variations in structure. It is accessible and widely used, making it easy to find others reading alongside you.

Five-Day Plan gives you weekends off, which makes a real difference for sustainability. Life gets busy, and having built-in margin means you are less likely to fall behind and give up. Here is the PDF. 

If you want more options, Ligonier has compiled a helpful list of Bible reading plans with different structures and emphases. The key is finding something you can maintain.

My Approach This Year

This year I am continuing my work through the Corinthian correspondence by phrasing 2 Corinthians. Last year I completed 1 Corinthians using this method. Bible phrasing involves marking out the logical structure of a passage: the flow of argument, the relationships between clauses, the connections between ideas. Here is an example from 1 Corinthians 2:1-5:

And I, when I came to you, brothers,
        did not come proclaiming to you the testimony of God
        with lofty speech or wisdom.
        For I decided to know nothing among you
            except Jesus Christ and him crucified.

And I was with you

    in weakness
    and in fear
    and much trembling,

and my speech and my message were not 

    in plausible words of wisdom,
        but in demonstration of the Spirit and of power,
    so that your faith might not rest in the wisdom of men
        but in the power of God.

This method forces you to slow down. You cannot phrase a passage without paying close attention to how the author put it together. That attention yields understanding. You start to see why Paul says what he says where he says it. You notice the logic, the emphasis, the progression. This slower pace allows for meditation and application. When you understand the logic of a passage, you are better positioned to let it address your life.

A Year in the Word

However you choose to read Scripture in 2025, make the choice. Pick a plan that fits your life and your goals. Remember: the Word is where we encounter the One we belong to.

100 S.M.A.R.T. Financial Goals

S.M.A.R.T. goals are a framework for setting clear, achievable objectives. The acronym stands for:

Specific – Clearly define the goal. Avoid vague or broad objectives.

Measurable – Establish criteria to track progress and determine when the goal is achieved.

Achievable – Set a goal that is realistic given available resources and constraints.

Relevant – Ensure the goal aligns with broader objectives and values.

Time-bound – Set a deadline to create urgency and accountability.

(S.M.A.R.T. goals were first introduced by George T. Doran in a 1981 article titled "There's a S.M.A.R.T. Way to Write Management’s Goals and Objectives." Doran was a consultant and former Director of Corporate Planning for Washington Water Power Company. His original framework was designed to help businesses create effective goals, but over time, it has been widely adopted in personal development, education, and various industries.)

S.M.A.R.T. goals help people avoid the common pitfalls of “good, old-fashioned” goal-setting—like vagueness, lack of accountability, and unrealistic expectations. 

Sometimes it is hard to know where to start with our goals. So here is a list of 100 SMART financial goals. 

Giving & Generosity

1. Tithe 10% of my gross income every month for the next year.

2. Increase my giving to 12% of my income within the next 12 months.

3. Give generously to a ministry my church supports.

4. Set aside $50 per month to help someone in need in my church.

5. Pay for a young family's meal in the next two months. 

6. Provide an anonymous financial blessing of $200 to a struggling family within the next 6 months.

7. Increase my church offering by $50 per month starting next quarter.

8. Support a seminary student with a $1000 gift by the end of this year.

9. Pay for a single mom’s groceries one time in the next 3 months.

10. Contribute $1000 to a church building fund within the next year.

Debt Reduction & Financial Freedom

11. Pay off my smallest debt ($XXX) in the next 3 months.

12. Pay off all my credit card debt within the next 12 months.

13. Reduce my student loan balance by 25% within the next 2 years.

14. Pay off my mortgage 10 years early by increasing principal payments by $200/month.

15. Pay off my car loan within the next 18 months.

16. Eliminate all consumer debt within the next 3 years.

17. Avoid taking on any new debt for the next 5 years.

18. Stop using credit cards immediately.

19. Save $5000 for a debt-free family vacation by next summer.

20. Complete Dave Ramsey’s Financial Peace University within 6 months.

Savings & Emergency Fund

21. Save $1000 for a starter emergency fund within 3 months.

22. Build a 6-month emergency fund ($XX,XXX) within the next 18 months.

23. Save $5000 for a major home repair by next year.

24. Set up a dedicated savings account for unexpected giving opportunities within 2 months.

25. Save $200 per month toward a future vehicle purchase in cash.

26. Increase my emergency fund savings rate by 20% starting next month.

27. Open a high-yield savings account within the next 30 days.

28. Have at least $10,000 in liquid savings within 5 years.

29. Save for 3 months of living expenses before making a major career transition.

30. Starting now, save $50 per paycheck for Christmas gifts to avoid holiday debt.

Investing & Wealth Building

31. Contribute $500 per month to my retirement account for the next year.

32. Increase my 401(k) contributions to 15% of my income within 6 months.

33. Open a Roth IRA and contribute $7000 by the end of this year.

34. Max out my Roth IRA every year starting this year.

35. Open an investment account and deposit $1000 within 3 months.

36. Save for a rental property down payment within the next 5 years.

37. Read a book on investing in the next 2 months.

38. Consult a faith-based financial advisor within the next 6 months.

39. Invest $50 per month in my child’s education fund.

40. Increase my net worth by $50,000 over the next 5 years.

Income Growth & Career Advancement

41. Negotiate a raise or promotion within the next 12 months.

42. Start a side business that generates $500/month within a year.

43. Complete a certification to improve my job skills within 6 months.

44. Earn an additional $5000 in income through freelance work within a year.

45. Invest in a course or conference that enhances my career within 6 months.

46. Create a passive income stream that earns $200/month within 3 years.

47. Ask my employer about a retirement plan match and contribute accordingly.

48. Monetize a hobby to generate $1000 in extra income this year.

49. Sell unused household items and save $500 from the proceeds.

50. Start a business that aligns with biblical values within 3 years.

Stewardship & Financial Discipline

51. Create a monthly budget and stick to it for 6 consecutive months.

52. Track every dollar I spend for 90 days to identify wasteful spending.

53. Use cash envelopes for discretionary spending for the next 3 months.

54. Reduce unnecessary subscriptions and save $500 annually.

55. Review my insurance policies and adjust coverage if necessary within 3 months.

56. Set financial goals for the next 5 years and write them down.

57. Teach my children about biblical money principles within 6 months. Use this. This. Or this.

58. Have a weekly budget meeting with my spouse for the next 12 months.

59. Read one personal finance book every quarter for a year. Start with this one.

60. Establish a habit of financial accountability with a trusted friend.

Children & Family Finances

61. Start a college savings account for my child within 3 months.

62. Teach my child how to manage money by setting up a simple budget.

63. Help my teen open a checking account and teach them to balance it.

64. Pay cash for my child’s extracurricular activities for the next year.

65. Teach my children about giving by having them donate 10% of their earnings.

66. Save $500 for each child’s future expenses by next year.

67. Find out the lump-sum amount or monthly amount needed to help my child become a millionaire.

68. Open a custodial investment account for my child within 6 months.

69. Set up a family meeting to discuss financial stewardship.

70. Help my child earn their first $100 through work instead of an allowance.

Homeownership & Major Purchases

71. Save $20,000 for a home down payment within 3 years.

72. Pay off my home early by making extra principal payments every month.

73. Save for and pay cash for all home improvements.

74. Avoid financing furniture or appliances for the next 5 years.

75. Save $10,000 for a vehicle purchase within 2 years.

76. Pay cash for my next vehicle instead of financing.

77. Research home refinancing options to save on interest.

78. Build a home maintenance fund of $2000 within the next year.

79. Invest in energy-efficient home upgrades with a payback period under 5 years.

80. Set a savings goal for a future vacation home or property.

Long-Term Legacy & Estate Planning

81. Write a will within the next 6 months.

82. Set up a trust for my children’s inheritance within 2 years.

83. Purchase life insurance that provides for my family’s needs.

84. Designate charitable giving in my estate plan.

85. Meet with an estate planning attorney within 12 months.

86. Teach my children about responsible wealth management.

87. Create a plan to transfer business assets biblically.

88. Assign financial power of attorney to a trusted person.

89. Leave a written financial testimony for my family.

90. Set up automatic giving to my church upon my death by listing the church as a beneficiary.

Faith & Contentment Goals

91. Pray over every financial decision for 30 days before making a major purchase.

92. Read one book on biblical stewardship this year. Try this one.

93. Memorize 10 Bible verses about money and stewardship (Proverbs 3:9-10, Proverbs 22:7, Malachi 3:10, Matthew 6:19-21, Matthew 25:14-30, Luke 16:10-11, 1 Corinthians 4:2, 2 Corinthians 9:6-7, 1 Timothy 6:17-19, Hebrews 13:5)

94. Host a Bible study on financial stewardship.

95. Declutter and give away items I no longer use.

96. Fast from non-essential spending for 30 days.

97. Replace “I need” with “God provides” in financial conversations.

98. Keep a gratitude journal for financial blessings.

99. Take a survey to see where you stand on your finances. Try this one.

100. Trust God’s provision and avoid anxiety about money.

Create a Spending Plan (Budget) for your Finances with Resources

Managing finances wisely is a matter of stewardship, not just numbers. Proverbs 21:5 reminds us, "The plans of the diligent lead surely to abundance, but everyone who is hasty comes only to poverty." For Christians, spending plans should reflect God-honoring priorities:

1. Give to God First – Proverbs 3:9-10 says, "Honor the Lord with your wealth and with the firstfruits of all your produce; then your barns will be filled with plenty, and your vats will be bursting with wine." Our first priority should always be faithful giving to God through tithes and offerings.

2. Save for Future Goals – Proverbs 6:6-8 highlights the wisdom of the ant in preparing for the future. Setting aside funds for future needs, emergencies, and long-term goals reflects prudent stewardship.

3. Plan Expenses Wisely – Luke 14:28 reminds us of the importance of planning ahead: "For which of you, desiring to build a tower, does not first sit down and count the cost, whether he has enough to complete it?" Thoughtful spending ensures we are not reckless with the resources God has entrusted to us.

Types of Spending Plans

There are several ways to structure a financial stewardship spending plan, each with its own benefits. Choosing the right one depends on your financial situation, discipline, and personal preferences.

1. Zero-Based Spending Plan

A zero-based spending plan assigns every dollar to a specific purpose so that your income minus all expenses (including giving and saving) equals zero. This method ensures intentional spending and eliminates waste.

Example: If your household income is $4,000 per month, every dollar is designated for a purpose: $400 for tithing, $600 for savings, $3,000 for living expenses. Every cent is accounted for, reducing unnecessary spending.

2. The Envelope System

This method involves physically or digitally allocating money into specific categories. Once an envelope is empty, spending in that category stops until the next budgeting cycle.

Example: If you allocate $500 for groceries, you only spend what’s in the grocery envelope. This method is excellent for those who struggle with overspending.

3. The 10-15-75 Plan

This simplified approach divides income into three broad categories:

• 10% for Giving (Malachi 3:10: "Bring the full tithe into the storehouse.")

• 15% for Savings (Proverbs 13:11: "Wealth gained hastily will dwindle, but whoever gathers little by little will increase it.")

• 75% for Expenses

This method is straightforward and easy to follow for beginners.

Choosing the Right Plan for You

No single spending plan fits all households, but the key is intentional stewardship. The best plan is the one that helps you be a faithful steward of what God has entrusted to you.

To assist with choosing the right budget method for your household, below is a chart of the various budgeting apps available:

1) EveryDollar by Ramsey Solutions

Pay $0.00 today with your 14-day FREE trial to EveryDollar Premium (new users only). EveryDollar Premium subscriptions are $17.99/month or $79.99/year after your free trial ends. 

2) FaithFi 

FaithFi has a free app version that allows you to manually track expenses. If you want to connect your bank accounts and have automatic expense tracking, the premium subscriptions are $75/annually or $8.99/monthly. There is a 14-day free trial. 

3) Rocket Money

Rocket Money has a free version of their app. Their optional Premium Membership provides enhanced features at a price that suits you. These prices can vary at times and across platforms, but in general, members can choose monthly prices between $6-$12 per month. As a new Premium member, you'll receive a 7-day free trial to explore the additional features.

4) You Need a Budget

YNAB is not free. There is a 34 day free trial. After that, the cost is $109/annually or $14.99/month.

5) Quickbooks by Intuit -- the most advanced app designed more for business than for personal finance. The value of Quickbooks is that it links to TurboTax and allows seamless bill pay. You can also print monthly and annual reports. It is a bit pricey. 

By prioritizing giving, saving, and planned spending, we honor God with our finances. Stewardship is a spiritual discipline, and as we manage our resources wisely, we reflect our trust in the Lord’s provision.