Supporting Financial Literacy in Catholic Communities

“The wise store up choice food and olive oil, but fools gulp theirs down.” Proverbs 21:20

By Bachir Kallas

Financial wisdom is essential for a well-balanced, faithful life. It’s not just about wealth or material security but using our resources in a way that honors God and blesses others. By embracing financial literacy, parishioners can make sound, ethical decisions about money that reflect Catholic values and help them navigate modern financial challenges.

As stewards of God’s resources, we are called to manage them wisely. Financial challenges can create stress and insecurity, hindering people from experiencing the peace and generosity that God desires. Financial literacy programs rooted in Catholic social teaching can empower parishioners to make confident, faith-aligned decisions that support their families, churches, and communities.

Pope Francis, in his encyclical "Laudato Si' (141)," highlights the interconnectedness of economic, social, and environmental issues. He calls for an integral ecology that encompasses not only environmental concerns but also economic and social justice. This holistic approach underscores the importance of financial literacy in promoting sustainable and just economic practices within Catholic communities. This article explores practical initiatives Catholic leaders can introduce to help parishioners grow in financial knowledge and responsibility.

Do you feel financially prepared for the future? Do you feel empowered to make choices about debt and spending that align with your faith?

Although financial planning may seem burdensome, as devoted followers of Jesus Christ, we can manage resources with the support of a foundation based on stewardship. In order to help parishioners' financial lives become more stable, hopeful, and transparent, Catholic leaders might use these strategies in their financial literacy initiatives.

1. Teaching Personal Finance Basics: Stewardship in Action

“Whoever is faithful in a very little is faithful also in much…” (Luke 16:10)

Catholic social teaching reminds us that God created the world’s resources for the benefit of everyone. Leaders can emphasize that wise budgeting and spending practices are ways to honor this principle and ensure that each household manages resources responsibly. (SDC 240)

Learning to budget, save, and plan are foundational aspects of financial stewardship. Leaders can organize workshops or group sessions focused on budgeting, debt management, and practical savings strategies. By offering parishioners tools for basic money management, leaders empower them to handle finances with integrity and purpose.

Budgeting helps us live within our means, allowing us to save, invest, and share with others. Financial experts can provide insights on budgeting, expense tracking, and managing income — all seen through the lens of stewardship. Parishioners can be encouraged to view their finances to support their families and bless others.

2. Debt Management: Preserving Dignity and Freedom

“The rich rule over the poor, and the borrower is the slave of the lender.” (Proverbs 22:7)

Catholic doctrine teaches that every person has an inherent dignity, which financial independence helps preserve. Managing debt wisely aligns with this teaching, protecting individuals from excessive financial burdens and allowing them to live with freedom and dignity. (SDC 238)

Debt is a reality for many, but learning to manage it wisely allows us to uphold our dignity and freedom. Catholic teachings remind us that debt should not limit our potential or become a barrier to generosity. Leaders can help parishioners by teaching them how to assess borrowing options, manage existing debt, and make plans for financial independence.

Debt management programs, led by experienced financial counselors, can be invaluable. These sessions could cover debt reduction strategies, budgeting for debt repayment, and ways to avoid high-interest loans. By practicing financial prudence, parishioners can find freedom from debt’s burden, making room for generosity and service.

3. Planning for the Future: A Vision of Solidarity and the Common Good

“Where there is no guidance, a nation falls, but in an abundance of counselors there is safety.” (Proverbs 11:14)

Catholic social teaching emphasizes that we are all part of one family, called to support each other. Planning for the future is not only for personal stability but contributes to the well-being of others, allowing us to contribute to the needs of the Church and community. (SDC 333-334)

Catholic social teaching reminds us that our decisions impact not only ourselves but also our community. Preparing for the future is not just about securing personal comfort but about living in solidarity with those we love and supporting causes close to our hearts. Catholic leaders can emphasize the importance of long-term planning, including retirement, emergency funds, and even legacy giving.

Retirement planning allows parishioners to honor God’s call for stewardship throughout their lives. Leaders can arrange seminars on savings strategies, ethical investing, and legacy planning, guiding parishioners in making future-focused decisions aligned with Catholic values.

4. Engaging Youth with Financial Education: Building a Faithful Future

“Train children in the right way, and when old, they will not stray.” (Proverbs 22:6)

The Church calls us to pay particular attention to the needs of the young and vulnerable. Equipping young people with financial wisdom prepares them to make responsible decisions, freeing them from future financial hardship and allowing them to support others. (SDC 2433)

The young are the future of our Church and equipping them with financial wisdom helps them grow into responsible, faith-filled adults. By hosting financial literacy classes for youth, Catholic leaders can lay a strong foundation for future generations. These sessions might cover practical topics like budgeting, saving, and ethical spending, grounding these lessons in Catholic social teachings on dignity and integrity.

Leaders can introduce digital financial resources, such as apps, webinars, and online guides, to make learning engaging and accessible. In doing so, they encourage youth to approach money with respect and responsibility, setting them up for financial stability and generosity.

By integrating biblical wisdom and the Social Doctrine teachings of the Catholic Church, Catholic communities can empower their members to approach financial matters with prudence, integrity, and a commitment to the common good. Through these efforts, individuals can become responsible stewards of their financial resources, contributing to the flourishing of their communities and embodying the values of solidarity and justice advocated by the Church.

The journey to financial literacy is a journey of faith, discipline, and hope. In Proverbs, we read that “The wise store up choice food and olive oil, but fools gulp theirs down.” Financial literacy, rooted in stewardship and Catholic teachings, enables us to make wise, generous decisions that enrich our lives and support our communities.

I’d love to hear your thoughts. How do you currently view financial stewardship? Have you ever participated in a budgeting or financial literacy workshop? How can these initiatives help us to be better stewards of the gifts God has entrusted to us?

Bachir Kallas is a financial analyst and Tepeyac Leader. You may contact him at bachirkallas@gmail.com