Five Biblical Principles of Money Management

The Bible has quite a bit to say about money – in fact, there are over 2,000 Biblical verses about money.

There are more verses relating to money than there are about Heaven, Hell, and prayer combined! Considering this fact, we know God has clearly stated money is an important topic in our lives. Throughout scripture, we can clearly identify five separate financial principles that can be applied to our own situations. God’s money principles are transcendent and timeless, and they work in every situation, every time.  

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1. Spend less than you earn.  

Sounds easy, but hard to do. We live in a culture of constant advertising bombardment, and our culture sows discontentment. We’re taught that we can and should buy what we want, when we want, regardless of consequences.  Proverbs 13:11 states, “Wealth quickly gotten dwindles away, but amassed little by little, it grows.”

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2. Be wise with debt.  

‍Debt always mortgages the future. It will always come calling, and it can lower our standard of living in the future. We must make sure that we don’t presume upon the future and that we understand the true cost. Proverbs 22:7 tells us, “The rich rule over the poor, and the borrower is slave to the lender.”

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3. Plan for financial margin, because the unexpected will occur.  

‍Who’s had to make an unexpected car or home repair? What about an unexpected medical bill for a broken bone? When we fail to build liquidity for short-term emergencies, we are creating a crack in our financial foundation. This principle applies to having a solid emergency fund and being properly insured with health, life, and disability insurance. Proverbs 6:6-8 states, “Go to the ant, you sluggard! Observe its ways and become wise. Without leader, administrator, or ruler, it prepares its provisions in summer; it gathers its food during harvest.”

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4. Set long-term goals, because there’s always a trade-off between the short-term and the long-term.  

If we all operated off of long-term goals, how would that change our short-term perspective on how we use money? Focusing on goals that are important to us can also help us to establish a clear direction on God’s calling for our lives. Philippians 3:14 says, “I continue my pursuit toward the goal, the prize of God’s upward calling, in Christ Jesus.”

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5. Give generously, because giving breaks the power of money.  

‍Yes, giving our resources to others in need is a nice thing to do. However, this principle goes so much deeper than that. Giving breaks the power that money has over us. God calls us to trust him, and giving generously forces us to do just that. Christ is the ultimate sacrificial giver, and we are called to live our lives in the same manner. II Corinthians 9:6-9 states, “Consider this: whoever sows sparingly will also reap sparingly, and whoever sows bountifully will also reap bountifully. Each must do as already determined, without sadness or compulsion, for God loves a cheerful giver. Moreover, God is able to make every grace abundant to you, so that in all things, always having all you need, you may have an abundance for every good work. As it is written: ‘He scatters abroad, he gives to the poor; his righteousness endures forever.”

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As you can see, these principles impact each one of us on a daily basis. Remember that God owns it all, and that our role is to be stewards of His resources.