The Bible is one of the world’s most popular religious books, but it’s not just filled with moral instruction. You can also learn some great financial lessons from the Bible. The difference between where you are and where you want to be is the knowledge you feed your mind. If you want to improve your finances, then get new information about money. That’s where the Bible comes in.
Here are some financial lessons from the Bible:
1. Prepare a budget!
Remember Luke 14: 28-30? “Suppose one of you wants to build a tower. Won’t you first sit down and estimate the cost to see if you have enough money to complete it? For if you lay the foundation and are not able to finish it, everyone who sees it will ridicule you, saying, “This person began to build and wasn’t able to finish.”
So as the Bible suggests, plan toward your future expenses with a budget, or they will hit you head on like a molue road accident.
2. Run away from debt
Proverbs 22:7 – The rich rule over the poor, and the borrower is slave to the lender.
This is sound advice because debt can make you lose your health, peace of mind and material assets. And besides, who wants to be a slave?
3. Don’t stand as guarantor for someone’s loan
“A man lacking judgement strikes hands in pledge and puts up security for his neighbour.” —Proverbs 17:18
In other words, don’t sign up for someone’s gbese. Especially when you can’t pay back or if you’re not willing to do so.
4. Hard work and discipline is the way to get rich
Wealth from get-rich-quick schemes quickly disappears; wealth from hard work grows over time.” Proverbs 13:11
Pyramid schemes and all of these money doubling platforms won’t get you anywhere. The true path to wealth is working for your money and making it grow (investments)
5. Have diverse investments
“Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth,” Ecclesiastes 11:2
Wisdom from King Solomon says to not keep all your eggs in one basket. It something happens to one investment, you’re fine. If nothing happens to any, you’re more than fine.
6. Be a giver
The generous will prosper; those who refresh others will themselves be refreshed.” Proverbs 11:25
7. The love of money
This is one of our favourite financial lessons from the Bible. The love of money makes people a slave to money and makes them do all kinds of stuff to make it.
Find out what you need to know about investing in treasury bills.