The Bible has more than 2,000 verses on money. In fact, the book of Proverbs references money more than 100 times!
When it comes to money, God provides thorough instructions.
Why?
Jesus said, “where your treasure is, there your heart will be also.”
Our heart towards money often reflects our heart towards God.
So, how can we turn our hearts to God when it comes to managing our money?
Ryan Tolan, M. Div, Pastoral Assistant and founder of Glad Academics, helped answer that question. With a theological and practical perspective, he provided key insight on how we can apply Biblical principles to our finances.
Plan Strategically
God values order.
That’s right, before the Marie Kondos of the world, there was (and is) God.
From creation to the Church, we can see how God operates in order.
When we have our finances in order, we strategically guard against financial mistakes and make way for God to establish our path.
One of the most helpful ways to order our finances is through a budget.
Tolan provided practical tips for creating a budget –
“Have goals in mind,” he said. “This includes ‘paying yourself first,’ which implies investing for your own future.”
Keep in mind, your budget should include a realistic inventory of your income and expenses. “Structure the budget honestly,” Tolan advises. “You can’t use a budget if it is inaccurate.”
Be Content
1 Timothy 6:6 tells us that godliness with contentment is of great gain.
This scripture precedes and gives context to 1 Timothy 6:10 –
“For the love of money is a root of all sorts of evil, and some by longing for it have wandered away from the faith and pierced themselves with many griefs.”
Whew! That’s deep!
When we consider the numerous murders, oppressive regimes and other evils that have been rooted in the love of money, we can understand this Biblical warning. When the love of money consumes us, contentment is lost and ungodliness prevails.
Tolan highlighted the importance of contentment with Ecclesiastes 5:10. He says, “This verse shares that we will never be satisfied with even the abundance of money if we love it. So, have some other desires besides money, and consider how you can use [money] as a tool rather than merely the prize.”
Invest Wisely
Before we get to worldly investments, let’s keep in mind our most important investment.
The Kingdom of God.
Tolan says, ” Matthew 6:33 explains that actively investing in the things of God provides passive returns of the things we need. That means, the things of God are well worth the time spent pursuing rather than mere money.”
While we invest in the things of God, we can simultaneously invest in the stock market, real estate and other assets. These assets can provide passive income to help us live quiet lives, provide for our families, enjoy life and give to God’s Kingdom. Since financial investments can be complex, we should educate ourselves before we take part.
As a strong proponent of financial education, Tolan used Proverbs 17:16 to make his point.
“[This Scripture] tells of the fool who will find wisdom useless even if he tried to buy it. That’s because he is a fool. Self development can change your financial trajectory so that you can effectively utilize your time and effort when acquiring wealth biblically.”
Give Generously
To manage money well, you must recognize that you are a steward of God’s resources. Any wealth you have was given by God. As His steward, you should give to things God cares about.
So, what does God care about?
Here are just a few items on His list:
- The Church – Acts 4:32-35
- The Poor – Proverbs 19:17
- Missionaries – 1 Corinthians 16:1-4
- The Oppressed – Psalm 146:7
- The Disabled – Luke 14:12-14
- Orphans and Widows – Psalm 68:5
And, if you are rich, the Scripture provides special instructions for you. 1 Timothy 6:18 states –
“Remind the rich to be generous and share what they have. This will lay a solid foundation for the future so that they will know what true life is like.”
Earn honestly
Another way to manage many well is to earn honestly. The shortest of the ten commandments lays it out clearly –
“Do not steal.”
Now, you might think, “that’s easy, right?”
You have never robbed a bank. You don’t plan on stealing someone’s identity. And, by those standards, you are not a thief.
But, guess what?
Stealing someone’s content to build your business, building your wealth by paying employees an unfair wage, taking your employer’s stationary to expand your side hustle [insert suspicious eyes here] and other dishonest ways of earning money are not God-honoring.
Remember, God sees every dishonest thing we do. Proverbs 14:2 says –
“By living right, you show that you respect the Lord; by being deceitful, you show that you despise him.”
Reduce Debt
This might be the part where all student loan borrowers slowly sink deep into their chairs…
… Sit up! Don’t be ashamed!
Having debt does not decrease your holiness, okay?
The Bible does not condemn having debt. It condemns a lot of things, and debt ain’t one of them.
Now, although the Bible does not condemn having debt, it does discourage it [starts sinking in chair again].
Before that shame starts to creep upon you again, understand why the Bible discourages debt.
“The Bible discourages Christians from being in debt to others because of the risks and vulnerability associated with being a slave to a lender. See Proverbs 22:7,” said Tolan. “Debt obligations can potentially rob you of opportunities to be financially generous or profitable.
Even so, Tolan reminds us that the Bible gives guidance to the person who is in debt. Romans 13:7, for instance, charges Christians to give to whom you owe, including taxes.
Tolan also explained that God commanded systems to be put in place for people to be free of their debts.
“One system, explained in Leviticus 25 and 27 as the ‘Year of jubilee,’ comes around every fifty years. On the fiftieth year, those in debt do not have to work as indentured servants. They settle the debt and go home. It also showed that these debts were not meant to be passed down for several generations.
In the New Testament, the terminology for debt is applied to the debt of sin. The blessing is forgiveness offered through repentance and faith in Christ.”
Leave an Inheritance
Today, one of the most trendy topics in financial literacy is “generational wealth.”
Start a business to create generational wealth.
Get life insurance to create generational wealth.
Hire your kids to build generational wealth.
It’s everywhere.
But, what does God have to say about it?
Well, Tolan pointed out that intentionally providing generational wealth is good. He referenced Proverbs 13:22, the scripture that identifies the man who provides for his children’s children as “good.”
Tolan also explained the difference between a sinner’s wealth and the wealth of the righteous.
“The Bible warns that the sinner’s wealth is “stored up” for the righteous. Just as the rich man of Luke 12:16-21 shows, generational wealth without a relationship with God will [eternally] nullify any [worldly] financial productivity you have.”
For Christians, the conversation around generational wealth should include God’s command to practice righteousness. This is because our ultimate treasure lies in Heaven, where righteousness prevails.
Live Joyfully
According to Theodore Roosevelt, “Comparison is the thief of joy.”
In a world driven by social media, comparison seems to constantly loom over us.
But, that’s not what God wants for us. God wants us to enjoy what he has given us. Ecclesiastes 5:18-20 makes this very clear.
So, guess what –
Book that trip to Jamaica. [if your budget allows].
Plan that 30th birthday.
Start the electric side at the family cookout.
When we take time to enjoy what God has provided, we can find gratitude in His provision.
Save Prudently
In Proverbs 30:25, ants are considered wise because they store food all summer long.
Saving is wise because it allows us to plan for the unexpected. If there was ever a year in modern history that demonstrated the importance of saving, it was 2020.
Talk about the unexpected!
Only God knows the future. By saving, we can do our part to make sure our needs are provided in an uncertain future.
Prioritize God
Last but certainly not least, prioritize God.
After reminding us not to worry because God supplies all of our needs, Jesus says,
“But seek first the kingdom of God and his righteousness, and all these things will be added to you.” – Matthew 6:33
As Christians, we are to prioritize God in our saving, spending, investing, giving – every financial area. Tolan shared some wisdom on this subject –
“Prioritize giving to God’s work,” he said. “It is the best investment you can make.”
Why is it the best investment?
Well, because it’s His money!
Since He lent it to us, it is only right that we make His priorities our own.
Conclusion
God’s Word provides practical tools to help us manage money well. In fact, many of today’s teachings on financial literacy are in agreement with Biblical advice.
The difference, however, lies in our hearts. Christians are called to do everything unto the glory of God, including their financial activities.
Tolan provided final words of encouragement for Christians seeking to manage their money well –
“Invest in financial education so that you can make informed decisions about your money. And, learn how to network with others. More importantly, pray and trust in the Lord and His guidance. Income does not equal your life’s worth. Keep hope.”
Ryan Tolan is “The Engineering M.Div. in Education,” and a passionate educator and community leader. His strength is a unique ability to analyze, problem solve, and implement unique ideas.
Ryan currently serves as a math, computer science and college/career prep teacher and as the Principal Educator at Glad Academics, which develops educational and training resources for educators and businesses. Ryan also serves on staff at his local church in various teaching and leadership roles.
Ryan holds a Bachelor of Science in Mechanical Engineering, a Master of Divinity, and a Master of Arts in Education. He has a wife and child. You can learn more about Ryan at www.rytolan.com.
This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisers before engaging in any transaction.