The Bible and Money

by Kay Lynn

bible

Image courtesy of Jay at freephotos.com

Who knew the bible has so much to say about money?  Okay, okay, probably everyone else but me.

The faith-based Financial Peace University I referenced in previous posts includes applicable quotes from the bible (among other sources) in each lesson.  If I had only paid attention in Sunday School, I would have already been a financial genius!  Let’s take a look at a few of my favorite passages.

1 Timothy 6:10.  “For the love of money is a root of all kinds of evil.”  This one is often misquoted as “money is the root of all evil”.  This saying really misses the point of the verse.  Money itself is not bad and unless we are living off the land, a necessity.  It’s important not to be carried over to the point of worshiping money instead of seeing it as tool.

Proverbs 21:5. “The plans of the diligent lead surely to plenty, but those of everyone who is hasty, surely to poverty.”  The importance of planning and preparation are stressed in this verse.  It reminds me of another saying, “slow and steady wins the race”.  Financial planning includes budgeting, savings and spending within your means.

Romans 13:8. “Owe no one anything except to love one another.”  Wow, how clear and powerful is this?  Owing money to others has become very ingrained in the American culture, primarily over the past 60 years.  God’s will is for us not to be burdened with debt.  Just think how much love we could show one another if more funds could be devoted to giving instead of debt repayment.

Ecclesiastes 11:2.  “Give portions to seven, yes to eight, for you do not know what disaster may come upon the land.”   I will admit I needed some interpretation.  A popular saying that may shed light is, “don’t put all your eggs in one basket”.  In other words diversity your savings.  This was written before stocks and mutual funds, yet the advice is excellent and one we should all heed.

Proverbs 14:29. “He who is impulsive exalts folly.” Proverbs makes the list again; let me tell you this book is full of financial wisdom.  Impulsiveness in handling money usually is foolish.  It’s important to be deliberate and take the time to make informed decisions.

What’s your favorite bible verse regarding money?  The good book is ever relevant in life.

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