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

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 

January 09 2017 0 responses Vote Up Share Report

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