Most Christians are aware of the need to save and invest for retirement or incapacity. Many people, however, find it challenging to embrace a practical theology for money management, especially when it comes to saving for the future.
It’s challenging since there are so many different points of view on the subject. Some preach a life of denial, preceding all comforts and savings. Others advise budgeting, debt avoidance, and regular saving to have more money to give and spend later in life. If you are looking for ethical tips to get more financially stable and prosperous, you will find many verses about money in the Bible that tell you about best money practices. To help you further, here are four tips from the Bible to get rich.
Honor God By Saving Money
Savings honors God because it correctly values money as a gift from him (James 1:16–17). Rather than unexpected, impulsive, or unwise spending, wise saving emphasizes the value of stewarding God’s blessings (Luke 12:47–48).
You’ll be in a better condition to help with crucial needs as they emerge if you practice good stewardship (Eph. 4:28). You can reply more rapidly and in a more critical way (Prov. 3:27). Saving may also enable you to leave an inheritance to your descendants, allowing them to bless others (Prov. 13:22).
We all tend to procrastinate. However, if you don’t start saving early, you’ll miss out on one of the most powerful financial forces available: tax-free compound interest or earning interest on interest.
The majority of individuals do not put off saving because they believe it is unimportant. Instead, they anticipate having more disposable money in the future or having more pressing demands, such as debt payments, low earnings, healthcare costs, or the need to save for a child’s education. They intend to deal with it later. Sadly, it can be a disaster in the long run. You can learn such important lessons about money in the Bible.
3.Debts Weaken You
The Bible isn’t entirely quiet on the subject of debt. Although there were no Visa cards or auto loans in ancient times, lending and borrowing were commonplace. Debt isn’t forbidden in the Bible, although it is described as a type of servitude (Prov. 22:7).
Furthermore, there is a direct link between excessive spending , excessive debt, and a poor savings rate. Debt has a cost when it comes to saving. Money that goes to creditors to service debt is money that you can’t utilize for anything else. Consider the difference between borrowing $1,000 and paying 13% interest ($130) and saving $1,000, and investing it at 7% interest ($70). That is the debt’s “opportunity cost.”
4.Saving Helps You
Hoarders are driven by a desire to keep their money rather than risk it for constructive purposes or the benefit of others. It also brings misfortune (Proverbs 11:26) and judgment (Luke 12:16–21; James 5:3; Psalm 39:6; Ecclesiastes 5:13; Zechariah 9:3).
Proper financial habits can help you in the long run. Thankfully you can get all the guidance you need from the Bible.