6 Important Financial Lessons From the Bible

You won’t find a Bible in the financial and business sections of a bookstore or library unless someone left it there. The Bible is usually considered solely as a spiritual book. But the truth is, brothers and sisters, the Bible can also be a great resource for financial lessons.

Contrary to popular belief, money does not affect your spirituality nor does spirituality hinder you from achieving your financial goals. Your faith and spirituality can even be your driving force towards financial success.

Here are six financial lessons you can learn from the Bible.

 

Spend and Save Money Wisely

On the first day of every week, each one of you should set aside a sum of money in keeping with your income, saving it up, so that when I come no collections will have to be made. – Corinthians 16:2

Wise are those who don't spend thoughtlessly. It's not every day that you have enough resources. If you spend your money without much care, you might find yourself in a tight spot when something unfortunate happens.

“The plans of the diligent lead to profit as surely as haste leads to poverty.” – Proverbs 21:5

Plan how you’re going to spend your money and save whenever you can. Profit comes to those who are wise with their money. Don’t waste your resources on unnecessary expenses. Lost resources are lost capital.

 

Stay Atop Your Debts

The rich rule over the poor, and the borrower is slave to the lender. – Proverbs 22:7

Money lenders were prevalent during the ancient times. It’s not as bad today with easily accessible loans and credit cards. The only wrong thing about this is it made us forget that debt is always negative.  It’s not about rewards points.

Aside from crippling interest from banks, the danger of loan sharks and opportunists also make debts a headache and dangerous if not handled right. Be wise and cautious of where you borrow money. Pay on time to avoid the scorned interests. You'd want to be as debt-free as possible.

 

Be Honest on What You Can Afford

It is better not to make a vow than to make one and not fulfill it. – Ecclesiastes 5:5

Don’t venture into something you can’t afford, whether it’s an investment or a loan. Stay within your means. Monitor how much you have and determine the amount you are willing to spend or lose.

 

Avoid Fraudulent Dealings

Dishonest money dwindles away, but whoever gathers money little by little makes it grow. – Proverbs 13:11

Nothing good comes from fraud. Those who take advantage of others will fail later on. As said in Proverbs 13:15 “Good judgment wins favor, but the way of the unfaithful leads to their destruction.”

If a deal seems too good to be true, then it probably is. Take your time and practice due diligence before making financial decisions to avoid the fraudsters.

 

Seek Financial Advice

Plans fail for lack of counsel, but with many advisers they succeed. – Proverbs 15:22

Don’t be shy to approach business consultants, financial coach, and other experts. These people have the knowledge and experience to help entrepreneurs and startups to succeed. They can give you expert answers and advice on your financial queries. The best person to guide you is someone who’ve already made the journey.

 

There Is Never A Perfect Time

Whoever watches the wind will not plant; whoever looks at the clouds will not reap. – Ecclesiastes 11:4

Not everyone is brave enough to take risks. This is why many people keep on waiting for the “perfect time”. It’s human nature and no one can blame you for it.

No one can fully eliminate ALL risks. This does not mean you have to give up now. Quite the contrary, when presented with risks, take action. What can you do to reduce the risks? What options can you take?

If you sit there waiting for the perfect time, you’ll get nowhere. You’re just delaying success.

"Wealth does not come overnight; it is a mindset that you should start developing now. Not later, but now."  – Garth Vickers, The Wealthy State of Mind

The perfect time is now.

Finding Happiness Through Financial Success

Money shouldn’t be the center of your life. It just provides you the means to execute your strategy and achieve your goals. I believe that God wants us to be rich and abundant. Read the Parable of the Bags of Gold (Matthew 25:14-30) and you’ll understand that God wants us to be progressive.

The road to financial success is not the same for everyone. That does not mean you have to take it alone. I’ve helped many startups and entrepreneurs, stirring them away from the common mistakes done by startups. Visit my blog for more motivational and informative resources to help you achieve financial success.