Handling Money Wisely
“Live above your income – that’s bankruptcy. Living at your income – that’s bondage. Live below your income – that’s blessing.” – Tony Walliser
Read Proverbs 3:9-10, 10:4,22, 11:24, 13:11, 21:20
Handling Money Wisely
Money. It’s hard to live without it, but for some people it’s hard to live with it. Isn’t it curious that in our schools, especially our institutions of higher learning, students receive instruction in many subjects but typically learn little or nothing about some basic life skills, including how to properly handle personal finances?
After graduating from college with bachelor’s and master’s degrees, I considered myself educated. I wasn’t earning much money in my first job but figured that was okay. I had a credit card, so I could buy whatever I needed – and wanted. I’d often purchase things on sale using my credit card, not considering that over time they would cost me much more as interest accrued.
Getting pay raises didn’t help, because in my financial ignorance that provided an excuse to buy more with my credit card. After all, the minimum payment wasn’t all that much. Seems silly now, but that’s how I thought back then.
Thankfully, and praise the Lord, He guided my career path to a Christian ministry where I rubbed shoulders with financial advisors like Larry Burkett and Ron Blue, who helped me learn biblical principles of financial management. They had written books on the subject but relied primarily on one book for their wisdom and insights: the Bible.
In the Scriptures we find an abundance of teaching about how to handle our money. Jesus spoke much about the topic, since it’s such an integral part of everyday life. And in the book of Proverbs, we find a vast storehouse of wisdom that, if followed, can keep us out of poverty and guide us on a path toward prosperity.
Ron Blue often presented some fundamental guidelines for money management from God’s point of view, anchored in insights given in the Bible. Here are some of them, including key principles from Proverbs:
Spend less than you earn. Just because we take home a certain amount of money every payday, that doesn’t mean we have to spend it all. There’s wisdom in living within our means, rather than right to the limit of our means – or beyond it. “Precious treasure and oil are in the dwelling of a wise person, but a fool consumes them” (Proverbs 21:20).
Avoid debt. There’s a trap sometimes called ‘keeping up with the Joneses.’ We’re deceived into thinking that we deserve whatever other people have, whether it’s a new car, bigger house, nicer clothes, lavish vacations, or many other things. When we find ourselves coveting – envious of what others have – this can lead to poor spending decisions and financial enslavement. “The borrower is slave to the lender” (Proverbs 22:7). Jesus also taught us to, “Be on your guard against all covetousness, for one’s life does not consist in the abundance of his possessions” (Luke 12:15).
Resolve to save money on a consistent basis. Creating a budget is a good plan, especially when it includes a regular saving strategy. If we have every dollar accounted for in our expenditures, but leave no room for contingencies – or emergencies – we can quickly feel forced to violate the principle above: Avoid debt. “Wealth gained hastily will dwindle, but whoever gathers little by little will increase it” (Proverbs 13:11). “Go to the ant, you sluggard; consider its ways and be wise!… it stores its provisions in summer and gathers its food at harvest” (Proverbs 6:6-8).
Give generously. When Jesus taught, “It is more blessed to give than to receive” (Acts 20:35), He wasn’t offering a pleasant platitude. When we give of ourselves, our time, our talents – and our treasure – to help others, we can also receive in a variety of ways. Sometimes the Lord gives back to us in tangible ways; other times we gain the joy and satisfaction of knowing we’ve helped to enhance someone else’s life.
We’re told to, “Honor the Lord from your wealth and from the first of all your produce; so your barns will be filled with plenty and your vats will overflow with new wine” (Proverbs 3:9-10). “One person scatters his wealth, but it still increases. Another withholds what he should give, and only suffers want” (Proverbs 11:24).
Remember that God owns it all. How often have you heard someone talking about ‘my money’? How many times have you used that phrase yourself? In reality, according to the Scriptures, we’re stewards (managers) of the resources the Lord entrusts to us, not owners. He provides us with the health, talents, skills, experience and opportunities to earn money. Understanding this helps us realize He holds us accountable for each spending decision.
This passage states it clearly: “Yours, O Lord, is the greatness and the power and the glory and the splendor and the majesty, for everything in heaven and earth belongs to You. Yours, O Lord, is the kingdom, and You are exalted as head over all. Both riches and honor come from You, and You are the ruler of all. In your hands are strength and power to exalt and give strength to all” (1 Chronicles 29:11-12).
As Tony Walliser observed, “God wants us all to become channels of God’s blessings. He does not give us raises to raise our standard of living. He gives us raises to raise our standard of giving. He’s calling us to be conduits of His grace, not cul-de-sacs.”
When all has been said and done, wouldn’t it be nice to hear the Lord say, even in terms of how we handled the resources He entrusted to us, “Well done, good and faithful servant”? (Luke 19:17).