7 Essential Biblical Principles for Money Management
Have you ever caught yourself feeling stressed or worried about finances?
If so, you are in good company. Money management is hard and I’d say with today’s economy and the challenges we face as a society today, chances are most people have felt the worries before.
Christian’s can face additional stress when it comes to money management as sometimes it might feel there is never enough money and always extra responsibilities that needs our money.
Today we are doing to talk about Biblical money management in hopes to reduce the stress you feel about money management and focus on managing God’s resources wisely.
This post will cover core christian stewardship principles based on Biblical financial principles. Whether you are a new Chrstian and hearing these for the first time or you have had your faith for quite some time, you will find these money management principles helpful.
Looking for more Christian livings tips? Check this out:
- Daily Devotionals: How To Start Your Morning With God
- How to Live Out Your Faith: 10 Daily Christian Living Tips
This post is all about effective Christian money management!
Biblical Money Management Princples
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1. Acknowledge God is the owner of all wealth
The very first concept we need to cover and by far the most important is that God is the owner of our wealth. We do not own our money. God has entrusted us with the money he has given us.
Psalm 24:1 says, “The earth is the Lord’s, and everything in it, the world and all who live in it;”
We need to shift our perspective from ownership to stewardship. When we focus on stewarding rathering than owning, we refocus our hearts and our posture changes!
Shifting your perspective around money is the first step in reducing your stress about money. We are stewards of the resources God has given us.
2. Practice contentment and avoid over consumerism
Contentment is something we’ve lost in this world. With the growing age of social media, we are constantly seeing what everyone else has and wanting that more than we are content with what we have.
Over consumerism has become a hot topic as more and more products and lifestyles are being pushed on us daily. It seems like we can’t take a shower without using 6 new products or take a walk without restocking a Stanley cup with snacks, lotions, hand sanitizer and juice.
If we want to become content with what we have, we have to resist the pressure of consumerism and focus on our needs not wants. Physical possessions and lavish vacations will leave you happy for a moment but God will give you the joy you are craving.
Living within our means has become growingly difficult but through prayer we can ground ourselves and focus on being content rather than falling into the trap of materialism.
Practical tips:
- Delete social media if it’s making you fall into the consumerism trap
- Pray for peace and trust God’s provision
- Write a list of your needs vs. wants – this will help you see the difference
3. Give generously as a form of worship
Somehow it seems that tithing is a difficult topic to talk about and I get it – when I first heard of the concept before I was saved, I freaked out. Why would I give 10% of my income to a church that is going to just do whatever they want with it?!”
I get it. I understand all the counter arguments because I used to say them! But drawing closer to God changes you and your financial stewardship.
We see in 2 Corinthians 9:6, “Remember this: Whoever sows sparingly will also reap sparingly, and whoever sows generously will also reap generously.”
Freely and joyful giving our money (whether that be tithing, charity, or just to someone we know in need) is a reflection of trust in God’s provision. God will never leave you with less when you give with an open heart.
I’m not saying go out and spend your life savings donating and giving to others but I am saying you need to pray on this and follow what God says to you.
If you are still struggling with the thought of tithing, I also recommend completing a few daily devotionals
4. Avoid debt and live financially free
My next Biblical money management tip is to live debt free. I know this can sound daunting but hear me out, we are warned in Proverbs 22:7 that “the borrower is servant to the lender.”
Today’s society has completely misconstrued the term financially free. The goal isn’t to make hundreds of thousands of dollars so you can buy whatever you want and that’s when you can start giving because you’ll have the ability.
You have the ability to give with what you have now and you have the ability to be financially free. Start looking at financially free as having no debt. If you had no debt to your name, how much ‘free money’ would you have coming in each month?
When we paid off our second car, we had an extra $400 coming in each month! What a blessing! And that money is hard earned money because paying off debt isn’t easy!
My husband and I never attended FInancial U but we did follow Dave Ramsey’s program of the snowball method. We bought his book The Total Money Makeover and it truly changed our lives.
Can you follow the program without buying the book? Yes. But I don’t recommend it. The book has so many motivating stories and it’s a great way to keep you motivated!
But if you plan to order the book but want to start NOW, start with your smallest debt and pay that off. Then move on to the next smallest.
5. Plan and save for the future
If you are a millennial like me, for some reason this generation has turned to more of a ‘treat yourself’ type of generation over ‘save for the future/retirement’ type of generation. But God doesn’t call us to treat ourselves everyday, he calls us to save and plan for the future.
Proverbs 21:20 says, “The wise store up choice food and olive oil, but fools gulp theirs down.” This shows us that God praises wise saving and planning for the future!
When we talk about saving for the future, it’s not in a hoarding sense but more for preparing for unforeseen circumstances and being able to provide for your family and give when needed.
If you don’t already have an emergency fund, open a new savings account labeled “emergency fund” and start making small deposits (as much as you can financially handle) and watch your fund grow!
This will help you feel calm during the storms we walk through because you know you saved and were ready for whatever comes.
Tip: be sure not to touch the emergency fund unless it’s a true emergency! And once used, replenish as quickly as possible!
6. Work diligently and with integrity
Have you heard the phrase: “work with all your heart, as working for the Lord”? This comes straight from the Bible, Colossians 3:23 to be specific.
God calls us to work hard in all things we are doing, which includes money management!
Even if you have a job that has nothing to do with sharing the Gospel, you can still apply Christian values in your secular workplace.
We are called to work hard, practice honesty, and to be diligent in our earning and managing money. But practicing these biblical practices, we invite God’s word into our workplace and create an opportunity for Him to move in our life and finances!
7. Trust God with your finances
The last biblical money management tip I have is simple: trust God with your finances!
Though it might feel difficult, we are responsible to manage our money with a heart of faith and rely on God to meet our needs – because he WILL!
In Matthew 6:25-34, we see Jesus teaches us not to worry about material needs but trust in God’s provision for our lives!
Though it feels difficult, when we stay grounded in our faith, we can handle any financial challenges that arise. Continue to pray for financial wisdom and discernment and lean into preparation over treating yourself.
I hope these 7 Biblical financial principles encourage you to start applying these christian stewardship principles to your financial lives!
There are so many ways we can honor the Lord and a huge one is trusting him with our finances and truly following his word on how to manage our finances.
I hope you found multiple takeaways from this article but if it’s just one takeaway, I hope it’s to continue to put your faith in God and pray for financial wisdom.
Your financial start might not change overnight, but your discernment and actions can change. If you start taking the baby steps you need to be financially stable, you will see the emergency fund and and your spiritual peace grow!
