Karen Guess is a mother, a financial advisor, and an author. This year, she wrote and published Never Enough?: 3 Keys to Financial Contentment with her father Ron Blue of Ronald Blue and Company. The book is a narrative instructional guide to financial peace, and Karen Guess has expanded upon the contents of the book to share her story and offer financial guidance and encouragement for parents and children.

​

For parents and children, finances are an incredibly stressful aspect of college, and numbers can be intimidating and impersonal. In their book, Karen Guess and Ron Blue make finances less intimidating and more personal by introducing the concept of a “numbers story.” Karen defines the term as the unique economic, social, and spiritual experiences of any individual. As it says in Never Enough, we all have a numbers story, and Karen is no exception.

​

“Tool. Test. Testimony.”

​

This is Karen’s numbers story. It is founded in her heritage, for which she says she is grateful. The foundation is this: “God owns it all.” This perspective is the tool, and it extends throughout life’s many tests.

​

What does a numbers story look like for parents as their children grow and approach college? This is probably something most parents have never considered, but Never Enough is designed to offer examples of tools, tests, and testimonies to help families narrate their numbers stories.

​

Based upon the principles and practices outlined in Never Enough, Karen offers advice for families to life a numbers story that reflects the principle that God owns all. Karen suggests communication, integration, and experimentation. First, parents should not be afraid to talk about money with their children. Parents can integrate finances into family life by having open discussions about money; by explaining the various needs for and uses of money; and by giving children a chance to handle money on their own. Karen emphasizes the importance of giving children freedom to make decisions. This freedom will inevitably lead to instances of failure, but it can build children’s confidence in their decision-making abilities.

​

As children approach college years, parents and children will inevitably need to have more and more specific financial conversations, so that they can prepare for college together. Karen emphasizes saving early and planning realistically, since “money is about competing priority.” If parents and children view college as a monetary priority, they may think of education as an investment, but Karen explains that it may be more realistic to think of college as a goal. Viewing college as a goal can alleviate some of the stress we feel about the economic aspects of college.

​

In fact, financial planning is all about perspective, and a biblically wise perspective is that of stewardship. God owns it all. According to Karen Guess, acknowledging “God owns it all” can guide parents as they prepare for the expense of their child’s college. What does it look like for parents to acknowledge “God owns it all”? Karen says it boils down to believing in God and trusting in his purpose and plans.

When parents acknowledge “God owns it all,” they adopt a perspective of stewardship, and stewardship is the first step to biblical financial wisdom. For parents who may not feel they are wise in the area of biblical financial wisdom, Karen explains it in terms of perspectives and practices. Biblical financial wisdom is framed by perspectives of faith, stewardship, contentment; it is practiced in word, prayer, and counsel.

​

Karen also offers the words of James 1:5 for parents who feel they are not financially wise: “If any of you lacks wisdom, you should ask God, who gives generously to all without finding fault, and it will be given to you.”

This perspective of stewardship is the first of Karen Guess’ and Ron Blue’s “Three Keys to Financial Contentment.” The second key is their “Five Wise Principles” of biblical financial wisdom:

 

1. Spend less than you earn.

2. Avoid debt.

3. Give generously.

4. Save for the unexpected.

5. Set long-term goals.

 

The five principles are steps financial contentment, and they are actions of stewardship. For parents planning for their child’s college, the most important principles are to avoid debt and to set long-term goals.

​

College is often accompanied by debt, and college debt is considered by some to be high risk because it is not forgivable in bankruptcy. However, Karen Guess considers forgiveness from a Christian perspective and reminds parents that God is forgiving, even when the world is not. Parents cannot depend upon the world, then, to be so forgiving. Karen advises that parents do not take on a debt if they cannot repay it because it is essential to repay all debts. She offers advice on how parents can best prepare financially for their child’s college and decrease or avoid debt.

​

Karen suggests that parents being to plan for college as early as possible, so that they can ask questions and answer them early. For many parents, an appropriate time to start planning for their child’s college is during the child’s middle school years. What does early financial planning look like when parents have children at home?

​

Karen and her husband have “planning weekends” during which they leave home and spend time discussing long-term goals and priorities and construct financial plans accordingly. When considering goals and priorities, parents may encounter issues of expectation versus reality, but this is why Karen suggests starting early. Early planning and open communication financially responsible practices for parents who are planning for college.

​

Planning early also gives parents more opportunity to save for their children’s college. Karen Guess and her husband started saving early for their children’s college through 529 plans. Karen defines a 529 plan as a government-sponsored vehicle for saving money that will not be disadvantaged by taxes when it is used. These plans can only be used for education, and they can be contributed to on a monthly basis.

 

For more information on 529 plans, Karen suggests visiting Clark Howard’s financial advice website, clark.com. State resources like 529 plans can help parents gain confidence in college planning, and once parents have a grasp on their family’s financial plans, they can start discussing financial responsibility with their children, says Karen.

 

One resource for both parents and children Karen suggests is the J.H. Ranch in California, which offers camps that teach parents how to be their children’s coaches, rather than traditional authority figures. Some more accessible resources for financial planning, however, are Karen herself and the book, Never Enough.

 

Karen explains an envelope system that parents can design to give their children some financial control so that they can learn financial responsibility by practicing it themselves. Parents may label the envelopes in different ways depending on how they wish to teach their children. For her children, Karen has divide finances into categories of provision, contentment, and enjoyment.

 

Never Enough offers a similar pie chart, which can simply be described as an illustration of the many facets of stewardship.

 

“God owns it all” is the central focus and underlying principle of the pie. The largest piece of the pie is “Live,” which Never Enough explains by saying, “Spend less than you earn, because very financial success depends on this habit.” One piece of the pie is “Grow,” where parents can “set long-term goals, because there is always a trade-off between the short term and long term.” Another slice is “Owe Taxes” and pay them “with gratitude, because taxes are symptomatic of God’s provision.” The next slice is “Owe Debt,” since “debt always mortgages the future.” The final piece of the pie is “Give” because “giving breaks the power of money.”

 

Where does college fit into the pie? Karen explains that college belongs in the “Grow” slice when parents and children are saving for college, and it belongs in the “Live” slice when college is a current lifestyle or experience, like when children are in college.

 

Parents can use the pie to plan their savings for college by assigning percentages of their total income to each piece of the pie. This method provides a formulated visual guide to budgeting and saving. However, there are expenses that exist outside of the pie that may influence parents’ abilities to save for college.

 

Some parents choose to pay for private education for their children prior to college, and these parents may not be able to save for college as much as they would like due to this expense. In financial terms, Karen describes private K-12 education and college savings as “simultaneous competing priorities.” Karen views private education as an important decision and a topic of debate, once again emphasizing the importance of integrating open conversation in financial planning. Private education can offer quality foundations that equip students for college, but it is important that parent who are considering it to consider it individually for each of their children.

 

Discussion and debate are central to financial planning, and conversation is key. Parents can feel confident in their financial wisdom by integrating finances into their family lives, and they can feel reassured by God’s wisdom that overrides their financial journeys.

 

But what happens when parents finally send their children off to college? How can college students confidently practice stewardship and biblical financial wisdom? Karen urges students to view financial constraints as a chance to be independent and realistic. College can be an incredibly challenging time for students, but there are biblical reminders of God’s provisions. Consider the example of Psalm 37:3-4:

 

“Trust in the Lord and do good;

dwell in the land and enjoy safe pasture.

Take delight in the Lord,

and he will give you the desires of your heart.”

 

Karen Guess views the financial journey as an opportunity to experience new things and to seek wisdom, like an adventure with God. She reminds us to recognize that all money is God’s and that He provides. We must accept God’s presence and participation in our lives in order to let go of monetary dependence. Contentment is unattainable in a culture ruled by money, but it is found in God. Karen reminds us of the biblical contentment mentioned in Philippians 4:12-13:

 

“I know what it is to be in need, and I know what it is to have plenty. I have learned the secret of being content in any and every situation, whether well fed or hungry, whether living in plenty or in want. I can do all this through Him who gives me strength.”

 

Karen Guess is a walking example of biblical financial wisdom, and she has shared her experience and her expertise so that we may also walk in wisdom. Money may be a universal issue, but it has a unique story for each of us – these are our numbers stories.

 

My numbers story has never been a shining example of biblical financial wisdom. I really like to spend money, and I always have. When I started my first job as a sixteen-year-old, I had no intentions of saving. In terms of the pie chart, the vast majority of my money fell into the “Live” slice. As a high school student, I did not want to think of anything beyond the present, and I failed to plan for college. I depended upon my parents to do the entirety of the financial planning for my college experience, and I refused to acknowledge my responsibility as a steward of their money. My failure was rooted in my perspective on finances; it was one of selfishness rather than stewardship.

 

Over the course of my years in college, I have spent recklessly, given generously, saved irregularly, and worked unceasingly. I have faced unexpected financial burdens and gifts, and I have fallen into and overcome debt. I have learned that stewardship is a perspective and a practice, and I have learned to trust in God to plan and prepare for the future. Philippians 4:19 says, “And my God will meet all your needs according to the riches of his glory in Christ Jesus.”

​

​