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What does the Bible say about managing your finances?



    
    

Clarify Share Report Asked July 01 2013 Mini Anonymous (via GotQuestions)

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Shea S. Michael Houdmann Supporter Got Questions Ministries
The Bible has a lot to say about managing finances. Concerning borrowing, the Bible generally advises against it. See Proverbs 6:1-5; 20:16; 22:7, 26-27 ("The rich rule over the poor, and the borro...

July 01 2013 1 response Vote Up Share Report


2
Mini Grant Abbott Child of Father, Follower of Son, Student of Spirit
There are over 2,300 verses in the bible that talk about "money and material things". God has a lot to say on this subject and we have a lot to learn. I would like to overview these principles from the bible to help us manage our finances in a God pleasing way.

1. Contentment
Be content with God's provision (1Tim 6:6-8) and thus avoid the ungoldly attitudes of covetousness, selfishness and greed which result in so many financial problems
2. Wisdom
Seek and obtain God`s wisdom (Jam 1:5) in managing the money God has entrusted to us
3. Understanding
Meditate on God`s Word (Joshua 1:8) to clearly understand God`s financial principles
4. Reverence
Out of reverence for God we choose to follow God`s financial principles (Psalm 111:10) and avoid many financial difficulties caused by violating biblical principles
5. Hearing
We will hear God`s voice and follow his specific will for our lives (John 10:27)
6. Firstfruits
We will give God the firstfruits of our income (Prov 3:9) and God will bless us (Prov 3:10)
7. Minimal Debt
We will have minimal debt (Prov 22:7) and therefore avoid pressure from creditors. Borrowing presumes we know the future (James 4:13-15) but only God knows if it is right to borrow. Ask God to meet our needs (Phil 4:19) without incurring any debt.
8. Budget
We will develop and implement a budget (Luke 14:28-30) and therefore make decisions based on facts rather than gut feel or personal desires
9. Counsel
We will obtain financial counsel from God (1Kings 22:5), God`s Word (Psalm 119:24) and godly financial advisors (1 Cor 2:14-15)
10. Stewards
We are stewards, or managers, of the money and material things (including our paychecks) that God has entrusted to us. God is the owner. (Psalm 24:1-2, 1Chron 29:11, Haggai 2:8)
11. Trust
Trust God to provide for our needs and to direct us according to his will (Prov 3:5-6). 
12. Needs
God has promised to meet our needs if we put him first (Matt 6:31-33) - but not necessarily our wants and desires. 
13. Direction
God has promised to direct us in everything - including our financial decisions - according to his will (Psalm 32:8)
14. Accountable
We are accountable to God for how we use the money he has entrusted to us (Matt 25:28-29) and he will reward our faithfulness
15. Eternal Treasures
We use for eternal purposes the money and material things that God has given (1Tim 6:17-19)
16. Evaluate
We need to have a clear understanding of our financial position (Prov 27:23) in order to make wise financial decisions. Know the facts of where our money is being spent then implement a budget accordingly.
17. Giving
We need to learn how to give cheerfully (2Cor 9:6-7), regularly (1 Cor 16:1-2), generously (Luke 6:38) and sacrificially (Matt 19:29)
18. Investing
We need to pray and depend on God for his wisdom and direction before making investment decisions (Jam 4:13-15). Do not invest in something we do not understand (prov 19:2). Do not make hasty decisions (Prov 21:5). Do not use debt (Prov 22:7). Do not lack diversification (Eccles 11:1-2).

Do we have Godly or worldly attitudes towards money and material things.
Here are some warning signs of Worldly Attitudes
1. Trusting in money and material things (Luke 12:16-21)
2. Believing that money and material things will bring happiness and peace of mind (Matt 13:22)
3. Having a strong desire to get rich (Prov 23:4-5)
4. Serving Money (Matt 6:24)
5. Being prideful (Jam 4:6)
6. Believing that we are independent of God (Deut 8:17-18)
7. Treasuring money and material things (Matt 6:19-21)
8. Being greedy (Luke 12:15)
9. Being covetous (Exod 20:17)
10. Worrying excessively about money (Matt 6:31-33)
11. Loving money and material things (Heb 13:5)
12. Being ungrateful and complaining about a lack of money and material things (Eccles 5:10; Num 14:26-30)

I highly recommend the following resource:
Financial Management Gods Way - A Biblical Financial Study
By Tom Copland, CPA
There are lots of free materials on his website 
www.biblefinance.org

January 09 2017 0 responses Vote Up Share Report


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