Also, I STRONGLY advise you to save as much money as you possibly can. Hard times are here, and expect them to get harder. Get into couponing, sewing, and other skills that can save money and resources. The Holy Bible is also filled with financial advice, especially in the Old Testament. This is why the Jews are stereotyped as being good with money.
I have
INCOMPLETE notes regarding Biblical financial advice.
DO NOT take my advice as gospel,
TRUST CREDIBLE EXPERTS ONLY!!! I hope this at least plants a seed for you and others to read, study, and KNOW Scripture daily, especially with this gem of Biblical truth:
Introduction
“Either the Bible’s financial advice is from God, or the greatest financial genius in history was a Jew.”
~Personal Opinion
The Holy Bible, particularly the Old Testament, contains advice about money management. The Jewish diaspora took these to heart, developing a reputation for being good with money. This stereotype fuels anti-Semitism, because Gentiles can feel intimidated by Jewish financial success. Jews are disproportionately the wealthiest religious group in the Western world, proving Biblical financial advice should be common sense.[1]
Warning About Finances
“For the love of money is a root of all kinds of evil, for which some have strayed from the faith in their greediness, and pierced themselves through with many sorrows.”
~1 Timothy 6:10, NKJV
The love of money is a root of evil, opening doors to temptation.[10] Examples of greed and pride going before the destruction include Theranos,[15] Enron,[16] and Fyre Festival.[17] The decision must be made to serve either God or Mammon, because one cannot serve both. Exploiting others for personal gain is sin, and no one can buy their way into Heaven. Atheists and agnostics tend to be wealthier on average, because they put their trust in Mammon, not God.[1]
(Acts 8:18-23, Eccles. 5:8-20, 1 Tim. 6:2-10, James 5:1-6, Luke 16:19-31, Matt. 6:24, 19:16-30, Prov. 16:18, 16:25)
Dangers of Serving Mammon
“God is love. Mammon does not love, it only demands.”
~The Holy Spirit
“If I could have just a little more, I will be happy…” Even the richest man alive still says this. The quote, “People buy things they don’t need, with money they don’t have, to impress people they don’t like,” is the entire basis of ‘Keeping up with Joneses.’ The quest for social status, fueled by pride, greed, and selfish ambition, has put countless into debt. Even seemingly pure intentions, like pursuit of happiness and charity, can also suffer the same. The Millennial Generation is deep in student loan debt. Entire nations, such as Canada and the United States, are in deep debt on national levels. A deeply indebted country resorted to glorified bank robbery to pay debts. Eventually, we will all pay, both literally and figuratively.
Retail therapy is the most expensive form of therapy. The United States is suffering a profound epidemic of white collar crime. Human trafficking is ruining entire generations. Mass media relying on fear and sex are leading to distrust between people. Social media is ruining the mental health of an entire generation of youths, and the rest of the world.
According to John Glubb’s essay,
The Fate of Empires, common signs of a country in decline are an over-bloated welfare system, pursuit of wealth and pleasure, and decline in religion, character, and morality. Decline begins when pursuit of personal wealth overtakes pursuit of wealth for the entire country. Nothing new under the sun.
What good is it if one gains the whole world, yet loses his soul?
Basics
“The answer is not to make more money, but to be wise in managing it.”
~The Holy Spirit
First off, recognize God as the source of everything in life. Always be thankful, content, and positive, even in hard times and/or situations. Gratitude promotes mental health and happiness.[3] Make Biblical ethics, the Greatest Commandment, your treasure in life. Humility is key, because accident of birth is an unfortunate reality. Therefore, trust and serve God, NEVER Mammon! The latter will eventually abandon you.
(Col. 3:16-17, 1 Chron. 16:34, 2 Cor. 9:8, Eph. 5:20, Ex. 20:17, Heb. 13:5-6, Luke 12:15, Matt. 6:24, Phil. 4:6-7, Prov. 8:20-21, 14:23, 16:16, 16:18, Ps. 9:1, 95:2-3, 1 Thess. 4:11-12)
No perfect economic system exists.
The Parable of the Workers in the Vineyard can be seen as criticism of both communism and capitalism. For communism, it shows equal pay for unequal work, as enforced by ‘the state’ (the vineyard owner). For capitalism, it shows working hard for long hours not always guaranteeing results, because the business owner (of the vineyard) can still
choose to reward less deserving employees. In both examples, the workers gave realistic reactions to the vineyard owner’s decision.
Furthermore, Communism only works if
everyone is willing to contribute based on
need. This is manageable on smaller scales, but never on larger ones, such as the former USSR. Capitalism is based mostly on
want, even at morality’s expense. Not everyone will agree with national policy, especially when it involves pursuit of wealth, power, and prestige. Again, serve God, NEVER Mammon!
(Acts 4:32-37, Luke 16:1-15, John 11:45-48, Matthew 20:1-16, 23:1-12, 2 Thessalonians 3:6-15, 1 Timothy 6:3-10, 2 Timothy 3:1-17)
Humble yourself. North American culture may frown upon adults living with their parents, but other cultures call it ‘having a strong family unit.’ Baking and sewing are useful money-saving skills, not threats to masculinity. No one is above charity, just unwilling to accept help. Swallow your pride, or be destroyed.
(Prov. 16:18, 16:25)
Always plan ahead. Do the research, count the costs, and think long game. Prioritize needs over wants. Create a monthly budget and run on surplus. Keep record of spending habits, and make necessary changes. When planning risky investments and major financial decisions, trust credible experts only!
(Luke 14:28-30, Prov. 15:22, 21:5, 23:23, 24:3-4, 24:27, Ps 1:1)
Build positive relationships. Honesty, integrity, and common courtesy are
required with clients. They build trust and credibility over time. Otherwise, it only creates short term gain, at the risk of losing credibility, relationships, careers, and even freedom from prison. Think long term.
(Acts 20:35, Eph. 4:29, Luke 16:9-13, Phil. 2:3, Prov. 6:16-19, 12:17-19)
Give, from family to organizations within reason. Do not expect anything in return nor under compulsion, but out of genuine willingness. While taxes are a legal requirement, giving is personal and builds stronger communities. It is also a form of gratitude towards God, extending His blessings onto others. Giving can promote happiness, health, gratitude, social connections, and inspire others to give as well.[4][5] Beware of exploitation, though. If every encounter with ‘friends’ involve requests for money and gifts, walk away. Be generous, but never enable. Relationships should be two-sided, never parasitic.
(Acts 20:33-35, 2 Cor. 9:6-7, Deut. 14:23, Luke 6:38, 16:9, Prov. 3:9, Rom. 13:6-7)
Saving
Never co-sign.[18] No one is responsible for anyone's debts but their own.
(Prov. 6:1-5, 11:15, 17:18, 20:16, 22:26-27, 27:13)
Keep an emergency fund.[19] Keep at least 3 to 6 months worth of income saved for unforeseen events. These include injury, illness, loss of job, property damage, and emergency purchases. The ‘Just World Hypothesis’ has no basis in reality.[20] Just ask Job, the rich man, and Lazarus.
(Gen. 41:34-36, Job, Luke 16:19-31)
Save, save, save! Save as much money as possible for future plans. The belief that money is meant to be spent is unsustainable in the long run. Saving will lead to more comfortable and/or earlier retirements. At retirement age, reduce risk and avoid bad investments. Those funds need to last. Leftover money is greatly beneficial for descendants, giving them a greater chance at life. Think long game and selflessly.
(Eccles. 4:8, 5:13-14, Prov. 13:22, 21:20, 22:3)
Reduce, reuse, and recycle. Saves money, time, and resources. Buy generic brand name products in bulk and use economically. Improvise leftover waste for use such as rice bag luggage, KFC container Tupperware, and opened envelope notepads. Thrift stores are excellent sources of practical trinkets, cheap!
(Prov. 21:20)
Find inexpensive hobbies. Card games, board games, and the like. The best kinds are the ones with many different games using the same product. For example, a standard deck of cards has many games. If video games are desired, find one with high replay value and easy-to-use modding features.
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Pay your debts and try to keep out of them. Live within your means. Avoid credit card and/or bank loan debt by saving money in advance for large purchases. Patience is a major money saving Fruit of the Spirit. Over time, debt interest will only prove costlier in the long run. Hollywood paints frightening consequences.
(Deut. 15:6, Eccles. 5:5, Prov. 22:7, 22:26-27, Ps. 37:21)
The Debt Snowball[12]
STEP 1: Gather all debt, except for your mortgage.
STEP 2: Make a list and order your debts from the smallest to largest.
STEP 3: Continue making minimum payments on all debts but the smallest.
STEP 4: Find extra money anywhere you can, such as picking up side jobs, having a garage sale, or giving up luxuries.
STEP 5: Get gazelle intense. Put all that extra cash towards the smallest debt. Pay off that first debt as quickly as possible! Knock it out!
STEP 6: When the smallest debt is gone, roll that payment over to the next.
STEP 7: Repeat until you are debt free!
Making
Avoid get-rich-quick schemes. They often involve risky and/or amoral practices to achieve goals. Think long game, work hard, be patient, and avoid unnecessary risks. Gambling is a terrible way of making money, and can be addictive. As a former co-worker said about spending welfare money on lottery tickets, “Spending guaranteed income from the government on income that is not guaranteed.” Avoid these at all costs if found on the internet. As said in a newspaper comic, “On the internet, no one knows you’re a dog!”
(Heb. 13:5-6, Matt. 6:24, Prov. 13:11, 16:33, 22:16, 28:19-22, 1 Tim. 6:10)
Invest in education. The saying, “A fool and his money are soon parted,” are one of many reasons to invest in education. Gain knowledge, skills, and character development. There is a strong correlation between education and income, and some religions put heavy emphasis on the former.[1]
(Proverbs 16:16)
Work hard. Strong work ethic is a key asset in anything. Practice daily by doing small chores, as if using Mr. Miyagi’s ‘wax on, wax off,’ approach. However, always take at least one day off and get plenty of sleep.
(Col. 3:23, Ex. 23:12, Prov. 12:24, 13:4, 14:23, 28:19, Ps. 127:2)
Diversify investments. The saying, “Don’t put all your eggs in one basket” applies. Should one investment go south, other investments proving more stable, even successful, will balance it out. Keeping back-ups of certain items, and copies of documents, digital and physical, are also wise investments.
(Eccles. 4:9-12, 11:1-6)
Gold will eventually lose its value. While there is profit to be made in precious metal investment, you cannot eat it. More practical commodities exist during crisis.[21][22]
(Ezek. 7:19-22)
Work
Respect and obey your boss, even if he's cruel. It's a tough pill to swallow but being a good worker in spite of unsavoury management only proves how much more worthy of promotion you are than the abusive boss, both Biblically and worldly. People root for the co-worker they want to work under. However, If your boss is violating federal law then you have full permission to refuse orders. Be sure to pay your income tax and serve as if you are serving God himself.
(Col. 3:22-25, Luke 19:11-27, Matt. 25:14-30, 1 Pet. 2:18-25, Rom. 13:1-7)
Use honesty, integrity, and discernment in your dealings. The sad reality is, some will take advantage of your generosity and work ethic. This is where you need to apply your moral values while still using research, connections, and street smarts to navigate yourself in the sea of agenda-driven individuals. Honesty and integrity are the best policies because even criminal organizations rely on those they can trust to manage their resources.
(Luke 16:1-15, Matt. 10:16)
Have a strong work ethic. It is key in all areas of life. Laziness is a very dangerous vice as the property falls into disrepair and the needs of the entire community are not met. Employment contributes to wellbeing as non-monetary rewards include social status, social relations, daily structure, and goals providing personal happiness.[6] Meaningful work is more important than a high salary.[7]
Employment (Gen. 2:15, Prov. 13:23, 1 Thess. 4:11, 2 Thess. 3:10-12)
Hard work (Col. 3:23, Prov. 12:11, 12:24, 13:4, 14:23, 28:19)
Laziness (Prov. 18:9, 19:15, 20:4, 21:25, 24:30-34, 2 Thess. 3:6-15, 1 Tim. 5:8)
Be sure to get enough rest. You will need at least one day of the week off for leisure, relaxation, and avoiding burnout. The average person needs 7 to 9 hours of sleep each night[8] because sleep deprivation is strongly linked to negative emotions such as worry, anxiety, and depression.[9]
(Gen. 2:1-3, Ex. 20:8-10, 23:12, 34:21, 35:1-3, Mark 2:27, Matt. 11:28, Prov. 3:24, Ps. 4:8, 127:2)
Bear in mind the reality of hard work not always paying off. Despite all your hard work, the boss can still give that promotion to another, less deserving co-worker. The boss is the legal owner of the business and is entitled to manage it however he wants while remaining within federal law. The Kingdom of Heaven works the same way so use this worldly experience as preparation for it. Another thing to keep in mind, some employers will favour results rather than honour.
(Luke 16:1-15, Matt. 20:1-16)
Contribute something to the household. This involves all family members and/or friends living in the household. Adult children living with parents should either pay rent or pay room and board by working around the house. Living with one's parents as an adult is not shameful but living off of them is.
(2 Thess. 3:6-15, 1 Tim. 5:3-8)
Charity
Basics
When engaging in charity
, have the right motives. Doing it for personal gain will only make you lose your credibility after the cat gets out of the bag. Doing it to glorify God and His teachings will inspire others to accept Christ and become better people. Even with the potential benefits it brings to your resume, do it because you want to, not because you have to. It is far more rewarding that way.
(2 Cor. 9:1-15, Luke 16:9, Matt. 5:13-16, 6:1-4)
Help everyone, even those you hate. Which is more admirable, to continue the cycle of evil which is the easy thing to do, or provide a helping hand to even one's own enemies which is the hard thing to do? Be the change you wish to see in the world. Society is as good as the people participating in it.
(Matt. 5:13-16, 5:43-48)
Use honesty, integrity, and discernment in your dealings. The sad reality is, some will take advantage of your generosity and work ethic. This is where you need to apply your moral values while still using research, connections, and street smarts to navigate yourself in the sea of agenda-driven individuals. Honesty and integrity are the best policies because even criminal organizations rely on those they can trust to manage their resources.
(Luke 16:1-15, Matt. 10:16)
Be generous but do not enable. Charity does have its limits because as previously stated, some will take advantage of your generosity and work ethic. Charity towards the wrong people will only siphon funds away from those who truly need it. Often times, in order to solve an issue you will need to pull out the root instead of applying a temporary band-aid.
(2 Cor. 9:1-15, 2 Thess. 3:6-15, 1 Tim. 5:3-8)
Worthy Charities According to the Lord Jesus Christ
(Matt. 25:31-46)
Providing Basic Needs -
"...for I was hungry and you gave me something to eat, I was thirsty and you gave me something to drink... I needed clothes and you clothed me..."
· Volunteering and/or donating to thrift stores, soup kitchens, food banks, disaster reliefs, and just about any cash-strapped organizations serving the community.
· Click-to-donate sites (GreaterGood.com, Goodeed.com, FreeRice.com, etc).
· Buying a sandwich and coffee for the homeless, drug addicted, and/or impoverished.
Serving The Vulnerable -
"I was a stranger and you invited me in... I was sick and you looked after me, I was in prison and you came to visit me..."
· Volunteering and/or donating to homeless shelters, retirement homes, charity-driven churches, and just about any cash-strapped organizations serving the community.
· Click-to-donate sites (GreaterGood.com, Goodeed.com, FreeRice.com, etc).
· Helping immigrants and social misfits integrate into the community.
· Rehabilitating criminals, drug addicts, the homeless, and anyone else with problems, both great and small.
