Finding Financial
Freedom
Biblical Principles for Wise Financial
Management
Foundations
Cultivate a steward’s mindset.
1. Recognise God created everything
In the beginning there was nothing,
and God created (Genesis 1:1).
2. Recognise God owns everything
“‘The silver is mine and the gold
is mine,’ declares the LORD Almighty” (Haggai 2:8). “Every animal of the forest
is mine, and the cattle on a thousand hills” (Psalm 50:10). “The earth and the
fullness thereof belong to the Lord and all those who live within” (Psalm 37:21).
3. Realise we cannot serve two masters
“No one can serve two masters. For you will hate one and love the other, or be
devoted to one and despise the other. You cannot serve both God and money” (Matthew
6:24).
4. Use resources wisely
“His master replied, ‘Well done,
good and faithful servant! You have been faithful with a few things; I will put
you in charge of many things. Come and share your master’s happiness!’” (Matthew
25:21–28).
5. Pursue biblical guidance
“Buy the truth and do not sell
it; get wisdom, discipline and understanding” (Proverbs 23:23). “Plans fail for
lack of counsel, but with many advisers they succeed” (Proverbs 15:22).
6. Plan through prayer
“Commit
to the LORD whatever you do, and your plans will succeed” (Proverbs 16:3).
7. Be trustworthy in financial dealings
“Whoever can be trusted with very little can also be trusted with much, and whoever
is dishonest with very little will also be dishonest with much. So if you have
not been trustworthy in handling worldly wealth, who will trust you with true
riches? And if you have not been trustworthy with someone else’s property, who
will give you property of your own?” (Luke 16:10–12).
Earning
The Diligent Earner—One who produces
with diligence and purpose and is content and grateful for what he or she has. God
established work while Adam and Eve were yet in the Garden of Eden. God invited
them to join him in the ongoing act of caring for creation. Work before the fall
of Adam and Eve is a blessing, not a curse. All work has dignity. Our work should
be characterized by the following principles.
1. Be diligent: Serve God
“Whatever you do, work at it with
all your heart, as working for the Lord” (Colossians 3:23).
2. Provide for those who depend on
us
“Those who
won’t care for their own relatives, especially those living in the same household,
have denied what we believe. Such people are worse than unbelievers” (1 Timothy
5:8).
3. Be grateful: Remember the source
of income
“Remember
the LORD your God, for it is he who gives you the ability to produce wealth” (Deuteronomy
8:18).
4. Enjoy your work: Be content in it
“It is good for people to eat
well, drink a good glass of wine, and enjoy their work—whatever they do under
the sun—for however long God lets them live. And it is a good thing to receive
wealth from God and the good health to enjoy it. To enjoy your work and accept
your lot in life—that is indeed a gift from God” (Ecclesiastes 5:18-19).
5. Become transformed workers
“Slaves, obey your earthly masters
with respect and fear, and with sincerity of heart, just as you would obey Christ.
Obey them not only to win their favor when their eye is on you, but like slaves
of Christ, doing the will of God from your heart” (Ephesians 6:5-6).
6. Earn potential: Share the excess
“If you are a thief, stop stealing.
Begin using your hands for honest work, and then give generously to others in
need” (Ephesians 4:28).
Giving
The
Generous Giver—One who gives with an obedient will, a joyful attitude, and a compassionate
heart.
1. Recognise we are created to give
We are made in the image of God
(Genesis 1:26-27). God is gracious and generous.We will lead a more satisfied
and fulfilled life when we give to others.
2. Give as a response to God’s generosity
“Every good and perfect gift is from above” (James 1:17). Therefore, we give out
of gratefulness for what we have received.
3. Give as a sign of trust and dependency
on God
“But seek
first his kingdom and his righteousness and all these things will be given to
you as well” (Matthew 6:33).
4. Give to help create economic equality
and justice
“Our
desire . . . is that there might be equality. At the present time your plenty
will supply what they need” (2 Corinthians 8:13-14). Throughout Scripture, God
expresses his concern for the poor and calls us to share with those less fortunate.
5. Give to bless others
“I will make you into a great
nation and I will bless you; I will make your name great, and you will be a blessing.
And I will bless you, and make your name great; and so you shall be a blessing”
(Genesis 12:2-3). If we are blessed with resources beyond our needs, it is not
for the purpose of living more lavishly but to bless others. We are blessed to
be a blessing.
6. Be willing to share
“Command them [the rich] to do
good, to be rich in good deeds, and to be generous and willing to share” (I Timothy
6:18).
7. Give joyfully and generously
“Out of the most severe trial,
their overflowing joy and their extreme poverty welled up in rich generosity.
For I testify that they gave as much as they were able, and even beyond their
ability. Entirely on their own, they urgently pleaded with us for the privilege
of sharing in this service to the saints” (2 Corinthians 8:1-5).
8. Give wisely
“We want to avoid any criticism
of the way we administer this liberal gift” (2 Corinthians 8:20).
9. Give expectantly and cheerfully
“The one who plants generously
will get a generous crop. You must each make up your own mind as to how much you
should give. Don’t give reluctantly or in response to pressure. For God loves
the person who gives cheerfully” (2 Corinthians 9:6-7; see also verses 10-14).
10. Recognise motives are important
Unless our motives are right,
we can give all we have—even our bodies as sacrifices—and it will be for naught
(I Corinthians13). We can be scrupulous with tithing and still not have the right
motives. Jesus rebuked the religious leaders of his day for this very thing: “
You hypocrites! You give a tenth of your spices—mint, dill and cummin. But you
have neglected the more important matters of the law—justice, mercy and faithfulness”
(Matthew 23:23).
Saving
The
Wise Saver—One who builds, preserves, and invests with discernment.
1. Recognise it is wise to save
“In the house of the wise are
stores of choice food and oil, but [the] foolish . . . devour all [they have]”
(Proverbs 21:20). “Go to the ant, you sluggard; consider its ways and be wise!
It has no commander, no overseer or ruler, yet it stores its provisions in summer
and gathers it food at harvest” (Proverbs 6:8).
2. Realise it is sinful to hoard
And he gave them an illustration:
“A rich man had a fertile farm that produced fine crops. In fact, his barns were
full to overflowing. So he said, ‘I know! I’ll tear down my barns and build bigger
ones. Then I’ll have room enough to store everything. And I’ll sit back and say
to myself, My friend, you have enough stored away for years to come. Now take
it easy! Eat, drink, and be merry!’ But God said to him, ‘You fool! You will die
this very night. Then who will get it all? ’Yes, a person is a fool to store up
earthly wealth but not have a rich relationship with God” (Luke 12:16-21).
3. Prioritise and evaluate the costs
“But don’t begin until you count
the cost. For who would begin construction of a building without first getting
estimates and then checking to see if there is enough money to pay the bills?
Otherwise, you might complete only the foundation before running out of funds.
And then how everyone would laugh at you! They would say, ‘There’s the person
who started that building and ran out of money before it was finished!’” (Luke
14:28-30).
4. Avoid quick-rich schemes
“The trustworthy will get a rich
reward. But the person who wants to get rich quick will only get into trouble”
(Proverbs 28:20).
5. Seek wise counsellors
“Let the wise listen and add to
their learning, and let the discerning get guidance” (Proverbs 1:5).
6. Establish a job before building
a home
“Finish
your outdoor work and get your fields ready; after that, build your house” (Proverbs
24:27).
7. Diversify assets
“Give portions to seven, yes to
eight, for you do not know what disaster will come upon the land” (Ecclesiastes
11:2).
Debt
The
Cautious Debtor—One who avoids entering into debt, is careful and strategic when
incurring debt, and always repays debt.
1. Repay debt and do so promptly
“The wicked borrow and do not
repay, but the righteous give generously” (Psalm 37:21). “ Do not say to your
neighbor, ‘Come back later; I’ll give it tomorrow’—when you now have it with you”
(Proverbs 3:28).
2. Avoid the bondage of debt
“The rich rule over the poor,
and the borrower is servant to the lender” (Proverbs 22:7).
3. Recognise debt presumes on the future
“Now listen, you who say, ‘Today or tomorrow we will go to this or that city,
spend a year there, carry on business and make money.’ Why, you do not even know
what will happen tomorrow. What is your life? You are a mist that appears for
a little while and then vanishes” (James 4:13–14).
4. Realise debt can foster jealousy
and greed
“Beware!
Don’t be greedy for what you don’t have. Real life is not measured by how much
we own” (Luke 12:15).
5. Give and pay what you owe
“Give everyone what you owe them:
Pay your taxes and import duties, and give respect and honor to all to whom it
is due” (Romans 13:7).
6. Be careful about co-signing
“Do not co-sign another person’s
note or put up a guarantee for someone else’s loan. If you can’t pay it, even
your bed will be snatched from under you” (Proverbs 22:26–27 NLT).
7. Realise debt will impact spiritual
development
“The
fruit of the Spirit is love, joy, peace, patience, kindness, goodness, faithfulness,
gentleness and self-control. Against such things there is no law” (Galatians 5:22-23)
Spending
The
Prudent Consumer—One who enjoys the fruits of their labor yet guards against materialism.
1. Beware of idols
“You shall not make yourself an
idol in the form of anything in heaven above or on the earth beneath or in the
waters below” (Deuteronomy 5:8). Materialism—which so saturates our culture—is
nothing less than a competing theology in which matter (things) is of ultimate
significance; that is, things become gods or idols. “ They . . . worshipped and
served created things rather than the Creator” (Romans 1:25).
2. Guard against greed. Realise things
do not bring happiness
“Beware! Don’t be greedy for what you don’t have. Real
life is not measured by how much we own” (Luke 12:15).
3. Seek moderation
“Give me neither poverty nor riches,
but give me only my daily bread. Otherwise, I may have too much and disown you
and say, ‘Who is the LORD?’ Or I may become poor and steal, and so dishonor the
name of my God” (Proverbs 30:8-9).
4. Be content
“I know what it is to be in need,
and I know what it is to have plenty. I have learned the secret of being content
in any and every situation, whether well fed or hungry, whether living in plenty
or in want. I can do everything through him who gives me strength” (Philippians
4:12–13).
“Godliness with contentment is great gain. For we brought nothing into the world, and we can take nothing out of it. But if we have food and clothing, we will be content with that” (1 Timothy 6:6–8).
5. Don’t waste God’s resources
“When they had all had enough
to eat, he said to his disciples, ‘Gather the pieces that are left over. Let nothing
be wasted’” (John 6:12).
6. Enjoy God’s provision in moderation
“Command those who are rich in this present world not to be arrogant nor to put
their hope in wealth, which is so uncertain, but to put their hope in God, who
richly provides us with everything for our enjoyment. Command them to do good,
to be rich in good deeds, and to be generous and willing to share. In this way
they will lay up treasure for themselves as a firm foundation for the coming age,
so that they may take hold of the life that is truly life” (1 Timothy 6:17–19).
7. Carefully manage resources
“Be sure you know the condition
of your flocks, give careful attention to your herds; for riches do not endure
forever, and a crown is not secure for all generations” (Proverbs 27:23–24).
Adapted with thanks from the Willow Creek Good Sense Course.
Good Sense seeks to offer solid, biblically-based teaching and practical, easy–to–use tools for developing healthy financial habits. Good Sense also provides personalized attention from experienced counsellors in a small group environment and in individual one-on-one settings. http://willowcreek.org/goodsense.asp