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The United States is the most prosperous nation in human history. However, there are far too many U.S. citizens struggling to get by. True, many Americans struggle to make ends meet due to low wages, but there are just as many whose problem is poor management of their finances. A scripture you’re likely familiar with in your discipleship is, “My people perish for lack of knowledge” (Hos. 4:6).
The Bible has a lot of great tips for people struggling with their finances. Aren’t you interested in what else God’s Word has to say about managing money? In this brief article, we’ll discuss some of the most essential financial tips from the Bible. Continue reading to get some sound financial advice you know you can count on.
Pr. 12:15 – A prudent man acts with knowledge … (Take sound financial advice).
The United States’ bustling economy serves as a two-edged sword. On one hand, there are plenty of opportunities to attain wealth. On the other hand, people tend to take money for granted because there’s always the potential to earn more. However, Proverbs 12:15 underscores the importance of seeking the expertise of a financial advisor to learn how to manage your revenue.
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Pr. 21:5 – The plans of the diligent lead to profit as surely as haste leads to poverty (Save).
When engaging in bible studies for life situations, be sure to spend time meditating on Proverbs 21:5: “The plans of the diligent lead to profit as surely as haste leads to poverty.” It’s critical that you have a savings plan or else you could find yourself living from paycheck to paycheck. Many experts advise putting money in a savings account every week and not touching it for a year from the day you open your account.
Ecc. 11:12 – Invest in seven ventures, yes, in eight … (Diversify investments).
This scripture is pretty straightforward. It’s crucial to diversify your investment portfolio rather than putting all your hopes into one investment. So, if you trade stocks, try investing in crypto, real estate, ETFs, or mutual funds to spread your wealth. The reason the Bible gives for diversifying your investment portfolio is that you don’t know what could occur and ruin your investment. That’s the same reason we give for diversifying today.
Ro. 13:8 – Owe nothing to anyone, except … love (don’t borrow from family).
This last scripture speaks about borrowing money in general, but we’ve limited it to borrowing from loved ones. Indeed, borrowing from family members can put undue strain on relationships. Sometimes, disagreements over money can damage relationships beyond repair. Furthermore, if you follow the other tips in this article, you’ll be much less likely to need to go to your family for money.
As you can see, the Bible has plenty of wisdom about how to manage your finances. The most vital tip is to get the advice of a financial planner or someone with an in-depth understanding of money management. It’s also important to save money for emergencies and for the sake of having a nest egg. Furthermore, if you’re going to invest, it’s critical to diversify your portfolio rather than place all your eggs in one basket. Finally, don’t borrow from family and friends unless you have to, and if you do, pay them back promptly.
When it comes to managing your money, God’s Word is as relevant today as ever. Applying the advice from “the Good Book” can lead to spiritual and financial freedom.