Biblical Money Management

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Oh the joys of those who do not follow the advice of the wicked, or stand around with sinners or join in with mockers.  But they delight in the law of the Lord, meditating on it day and night.  They are like trees planted along the riverbank, bearing fruit each season.  Their leaves never wither, and they prosper in all they do.

-Psalms 1:1-3

I’m currently reading a book called “The Automatic Millionaire” by David Bach. In it, he talks about something called the “Latte Factor,” which describes how we tend to spend money every day on things like a latte, coffee, snacks, or a pack of cigarettes. Those small amounts of money we spend daily eventually ends up being a substantial amount of money by the end of a full year. For example, just buying a two dollar cup of coffee a day for a full year ends up being $730. That’s not including the other small amounts we spend on other things.

David Bach suggest that we should significantly limit the small amounts of money we spend every day and invest it in something useful like a 401k or a savings account.   The Bible gives us advice on this as well.  In Luke 16:10, Jesus said “Whoever can be trusted with very little can also be trusted with much.”  I’m not saying that spending small amounts of money on insignificant things makes us dishonest.  I’m saying that if we cannot manage it, how do we expect to manage the huge amounts of money a lot of us aspire to gain?

When you think about money, consider this: the wicked will advise you to spend your money on drugs and alcohol.  The sinner will persuade you to blow your money to impress someone you sexually desire.  The mocker will convince you to spend your money on high price designer clothes to show up and outdo your peers.  This kind of thinking will eventually bring you to financial ruin, and indirectly lead you further away from God.

Instead, we should “delight in the law of the Lord, meditating on it day and night.”  The Bible have many scriptures about dealing with money.  1 Timothy 6:10 warns us about the love of money.  Proverbs 22:7 describes the negative aspect of being in debt.  And 1 Timothy 5:8 can teach us something about our financial responsibilities.  These are just three of many verses that you can find in the Bible.

There are a lot of books you can find on how to manage money.  However, if you desire to earn and manage your money with good intent, like we all should, then there is no better financial book than the Bible.

Published by J. Core

I am a retired veteran of the Virginia Army National Guard. I live on the Eastern Shore of Virginia. My desire is to use the words of the Bible to improve the lives of other people.

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