Left or right? Up or down? There is a reason these words are considered opposites—because they rarely describe someone or something at the same time. To do so would be paradoxical because of their “seemingly contradictory qualities.”[1]
Dr. Ashley LeBaron-Black and her colleagues[2] gathered information from an interfaith group of strongly religious parents and religious leaders in Ireland and the United Kingdom to explore the impact of high religiosity on financial stress. They found that religion’s impact on finances is complex—paradoxically, it has the potential to both intensify and ease financial stress.
How Religion Intensifies Financial Stress
LeBaron-Black and colleagues identified four themes from participant interviews that explained how religious involvement intensified financial stress: (1) increased demands through financial giving, (2) decreased time because of religious activities, (3) perceived clashes with the workplace, and (4) perceived conflict with material pursuits.
Many of the participants mentioned how religion increased demands through financial obligations such as formal and informal charitable donations, lifestyle choices such as living separately until married, and religious experiences such as service missions, religious school education, and pilgrimages. According to a Muslim female who participated in the study, “being Muslim ‘means charity work, always giving money to the poor.’”
Other participants expressed how religion requires time for church attendance, volunteer work, confession, prayer, and/or missions. A Jewish male shared, “I volunteer about half of my time…[to help] people to become more aware of what Judaism is about, [to get] rid of all the myths and stereotypes.”
Finally, religious involvement was viewed negatively for its clash in the workplace and with materialism. A Presbyterian female described modern society this way: “There’s a desire to have a lot of material things. I think that’s very prevalent among our young. If you have last year’s phone, you’re not really the cool kid.”
Refusing to work on one’s holy day or choosing to be a stay-at-home mom may align with one’s religious values but conflict with employment opportunities. Furthermore, participants felt the tug-of-war between their religious values and pressure to keep up with societal expectations regardless of the number of children or to put off marriage and family until after individual pursuits had been satisfied. At some point, we all must choose the values that will govern our lives, often at the cost of those things we value less.
How Religion Eases Financial Stress
Participants also noted five themes in which religious involvement eased financial stress: (1) reduced materialism, (2) monetary blessings, (3) personal satisfaction through religious giving, (4) improved perspectives on work, and (5) optimism amid financial struggles.
Nearly half of the participants reported that religion reduced financial demands by tempering their material appetite. These participants focused on eternal things more than temporal, people and relationships more than money or success, and gratitude instead of greed. A Hindu female shared her religious belief this way: “Do not indulge in the material world too much. Do not waste resources because that creates greed and you’ll be running after money.”
A third of the participants reported increased blessings through their religious participation, whether in the form of religious priority leading to the blessings of providence or through the safety net of a religious community that offered interpersonal assistance. A Catholic religious leader taught, “The Church is there for people in times of crisis.”
Finally, a significant number of participants drew positive meaning from their religious participation, including higher personal satisfaction through religious giving, improved perspectives on work, and a positive perspective on financial struggles. A Christian female said, “When your life’s [about] something more than yourself, it brings a real level of purpose and joy and reason for getting up in the morning.”
Satisfaction through religious giving impacted men, women, and children whether the giving was in the form of money, goods, or service to others. Those who reported improved perspectives on work felt religion helped them to give their best to their employer or employees and answer to God; to remember the big picture, which was greater than personal advancement or money; or to view their employment as a calling from God in which they could honor Him and provide for their needs at the same time. In a powerful way, religion helped more than 1 in 3 respondents to have a positive outlook on their financial struggles by relying on and trusting in God through thick and thin.
Religion’s Paradoxical Relationship with Financial Stress
So, religion can both harm and help? Yes!
Religion presents paradoxical qualities when it comes to financial stress by both intensifying and easing it. However, this is not necessarily bad and can be good for a person. When approached with wisdom, religion can help an individual or family go through the necessary adjustments to align their actions with their values and balance giving and receiving.
Takeaways
· Religion requires things of you.
As you consider giving of your money, your goods, or yourself, take the time to assess your values to determine what you are and are not willing to sacrifice. Let your deeply held values guide you in the things you give.
· Religion offers things to you.
A religious community provides purpose, a sense of belonging, and an additional safety net in times of need. Additionally, many religious people glean a grateful and hopeful perspective on things from financial struggles to work-life balance. With trust in a higher power, they exude a certain confidence and peace.
· Avoid extreme positions and seek balance.
It is possible to give too much to your religion to the detriment of your family and/or work. Avoid such religious extremism. Receiving from others without looking for ways to give back is also extreme. Find ways to give of yourself—whether via means, goods, or in service to others. Strive for work-family-religion balance because they are all important and need our attention.
References:
[1] Merriam-Webster. (n.d.). Paradox. In Merriam-Webster.com dictionary. Retrieved January 22, 2025, from https://www.merriam-webster.com/dictionary/paradox
[2] LeBaron, A. B., Kelley, H. H., Hill, E. J., & Galbraith, Q. (2021). Finances, religion, and the FAAR model: How religion exacerbates and alleviates financial stress. Psychology of Religion and Spirituality, 13(3), 370-380. https://doi.org/10.1037/rel0000294