MONEY MANAGEMENT PRINCIPLES FROM THE BIBLE
Here are some money management principles included in the Bible:
‘How to block financial holes in pocket’
Now this is what the Lord Almighty says: “Give careful thought to your ways. You have planted much, but harvested little. You eat, but never have enough. You drink, but never have your fill. You put on clothes, but are not warm. You earn wages, only to put them in a purse with holes in it.”
This is what the Lord Almighty says: “Give careful thought to your ways. Go up into the mountains and bring down timber and build my house, so that I may take pleasure in it and be honored,” says the Lord. “You expected much, but see, it turned out to be little. What you brought home, I blew away. Why?” declares the Lord Almighty. “Because of my house, which remains a ruin, while each of you is busy with your own house. Therefore, because of you the heavens have withheld their dew and the earth its crops.
(Haggai 1:5-10)
If you want to see a stop to financial drainage and to little harvest, you will have to direct some of your resources towards the House of the Lord.
Debt will enslave you
‘The rich rule over the poor, and the borrower is slave to the lender.’( Proverbs 22:7)
Debt will lead to economic slavery. If the Scripture says it, then it settles all debates. As long as you are in debt, you will be a slave. A slave works hard and never enjoys the fruit of his/her labor or salary. When you are in debt, you will not enjoy your labor.
So the best thing is to not go into debt.
Futility will impoverish you
‘Those who work their land will have abundant food, but those who chase fantasies will have their fill of poverty.’ (Proverbs 28:19)
Those who work on their assignment will have food but those who chase fantasies will be poor. Fantasy is a reference to something useless or something that lacks substance. Examples of futilities can be found in activities that bear no productive results. The proverb is also clear, it is not possible to have food while hating productivity.
The culture of saving
The wise have wealth and luxury, but fools spend whatever they get. (Proverbs 21:20)
The Bible promotes the culture of saving. Fools can’t keep a single thing of what they earn. The term ‘fool’ is often associated with negative consequences in the Bible. Therefore, a person, who constantly spends everything that comes in their hands, will constantly suffer negative consequences in their life.
Anti-waste policy
“We have here only five loaves of bread and two fish,” they answered.
“Bring them here to me,” he said. And he directed the people to sit down on the grass. Taking the five loaves and the two fish and looking up to heaven, he gave thanks and broke the loaves. Then he gave them to the disciples, and the disciples gave them to the people. They all ate and were satisfied, and the disciples picked up twelve basketfuls of broken pieces that were left over. The number of those who ate was about five thousand men, besides women and children.
(Matthew 14: 17-21)
Notice that the disciples picked up 12 baskets full of leftovers. This actually shows that Jesus had an anti-waste policy. So should we.
Invest
“For it will be like a man going on a journey, who called his servants and entrusted to them his property. To one he gave five talents,to another two, to another one, to each according to his ability. Then he went away. He who had received the five talents went at once and traded with them, and he made five talents more. So also he who had the two talents made two talents more. But he who had received the one talent went and dug in the ground and hid his master's money. Now after a long time the master of those servants came and settled accounts with them. And he who had received the five talents came forward, bringing five talents more, saying, ‘Master, you delivered to me five talents; here, I have made five talents more.’ His master said to him, ‘Well done, good and faithful servant. You have been faithful over a little; I will set you over much. Enter into the joy of your master.’ And he also who had the two talents came forward, saying, ‘Master, you delivered to me two talents; here, I have made two talents more.’ His master said to him, ‘Well done, good and faithful servant. You have been faithful over a little; I will set you over much. Enter into the joy of your master.’ He also who had received the one talent came forward, saying, ‘Master, I knew you to be a hard man, reaping where you did not sow, and gathering where you scattered no seed,so I was afraid, and I went and hid your talent in the ground. Here, you have what is yours.’ But his master answered him, ‘You wicked and slothful servant! You knew that I reap where I have not sown and gather where I scattered no seed? Then you ought to have invested my money with the bankers, and at my coming I should have received what was my own with interest.
( Matthew 25:14-30)
Notice that in verse 27, the Master rebukes the servant for not investing the money. You are allowed to sound investment where your money can grow. Furthermore, when it comes to investment, it is important that we make those investments while staying away from ‘get-rich-quick schemes’ promoting fake investments (ref. Proverbs 13:11).
It’s fascinating how the Bible contains many money management principles which can be useful when properly followed.
‘How to block financial holes in pocket’
Now this is what the Lord Almighty says: “Give careful thought to your ways. You have planted much, but harvested little. You eat, but never have enough. You drink, but never have your fill. You put on clothes, but are not warm. You earn wages, only to put them in a purse with holes in it.”
This is what the Lord Almighty says: “Give careful thought to your ways. Go up into the mountains and bring down timber and build my house, so that I may take pleasure in it and be honored,” says the Lord. “You expected much, but see, it turned out to be little. What you brought home, I blew away. Why?” declares the Lord Almighty. “Because of my house, which remains a ruin, while each of you is busy with your own house. Therefore, because of you the heavens have withheld their dew and the earth its crops.
(Haggai 1:5-10)
If you want to see a stop to financial drainage and to little harvest, you will have to direct some of your resources towards the House of the Lord.
Debt will enslave you
‘The rich rule over the poor, and the borrower is slave to the lender.’( Proverbs 22:7)
Debt will lead to economic slavery. If the Scripture says it, then it settles all debates. As long as you are in debt, you will be a slave. A slave works hard and never enjoys the fruit of his/her labor or salary. When you are in debt, you will not enjoy your labor.
So the best thing is to not go into debt.
Futility will impoverish you
‘Those who work their land will have abundant food, but those who chase fantasies will have their fill of poverty.’ (Proverbs 28:19)
Those who work on their assignment will have food but those who chase fantasies will be poor. Fantasy is a reference to something useless or something that lacks substance. Examples of futilities can be found in activities that bear no productive results. The proverb is also clear, it is not possible to have food while hating productivity.
The culture of saving
The wise have wealth and luxury, but fools spend whatever they get. (Proverbs 21:20)
The Bible promotes the culture of saving. Fools can’t keep a single thing of what they earn. The term ‘fool’ is often associated with negative consequences in the Bible. Therefore, a person, who constantly spends everything that comes in their hands, will constantly suffer negative consequences in their life.
Anti-waste policy
“We have here only five loaves of bread and two fish,” they answered.
“Bring them here to me,” he said. And he directed the people to sit down on the grass. Taking the five loaves and the two fish and looking up to heaven, he gave thanks and broke the loaves. Then he gave them to the disciples, and the disciples gave them to the people. They all ate and were satisfied, and the disciples picked up twelve basketfuls of broken pieces that were left over. The number of those who ate was about five thousand men, besides women and children.
(Matthew 14: 17-21)
Notice that the disciples picked up 12 baskets full of leftovers. This actually shows that Jesus had an anti-waste policy. So should we.
Invest
“For it will be like a man going on a journey, who called his servants and entrusted to them his property. To one he gave five talents,to another two, to another one, to each according to his ability. Then he went away. He who had received the five talents went at once and traded with them, and he made five talents more. So also he who had the two talents made two talents more. But he who had received the one talent went and dug in the ground and hid his master's money. Now after a long time the master of those servants came and settled accounts with them. And he who had received the five talents came forward, bringing five talents more, saying, ‘Master, you delivered to me five talents; here, I have made five talents more.’ His master said to him, ‘Well done, good and faithful servant. You have been faithful over a little; I will set you over much. Enter into the joy of your master.’ And he also who had the two talents came forward, saying, ‘Master, you delivered to me two talents; here, I have made two talents more.’ His master said to him, ‘Well done, good and faithful servant. You have been faithful over a little; I will set you over much. Enter into the joy of your master.’ He also who had received the one talent came forward, saying, ‘Master, I knew you to be a hard man, reaping where you did not sow, and gathering where you scattered no seed,so I was afraid, and I went and hid your talent in the ground. Here, you have what is yours.’ But his master answered him, ‘You wicked and slothful servant! You knew that I reap where I have not sown and gather where I scattered no seed? Then you ought to have invested my money with the bankers, and at my coming I should have received what was my own with interest.
( Matthew 25:14-30)
Notice that in verse 27, the Master rebukes the servant for not investing the money. You are allowed to sound investment where your money can grow. Furthermore, when it comes to investment, it is important that we make those investments while staying away from ‘get-rich-quick schemes’ promoting fake investments (ref. Proverbs 13:11).
It’s fascinating how the Bible contains many money management principles which can be useful when properly followed.