Biblical Guidelines for Managing your Money
By Jason Hommel
author of goldismoney.com & bibleprophesy.org
1. Seek knowledge from God and the Bible. Fools refuse instruction. People are destroyed for lack of knowledge. Seek wisdom first, then all other things are added. Seek the kingdom first, and all will be added to you. Seek out the council of wise men.
Proverbs 16:16 How much better is it to get wisdom than gold! and to get understanding rather to be chosen than silver!
Proverbs 1:7 The fear of the LORD is the beginning of knowledge: but fools despise wisdom and instruction.
James 1:5 If any of you lack wisdom, let him ask of God, that giveth to all men liberally, and upbraideth not; and it shall be given him.
Hosea 4:6 My people are destroyed for lack of knowledge: because thou hast rejected knowledge, I will also reject thee, that thou shalt be no priest to me: seeing thou hast forgotten the law of thy God, I will also forget thy children.
Proverbs 13:18 Poverty and shame shall be to him that refuseth instruction: but he that regardeth reproof shall be honoured.
2 Chronicles 1:11 And God said to Solomon, Because this was in thine heart, and thou hast not asked riches, wealth, or honour, nor the life of thine enemies, neither yet hast asked long life; but hast asked wisdom and knowledge for thyself, that thou mayest judge my people, over whom I have made thee king:
12 Wisdom and knowledge is granted unto thee; and I will give thee riches, and wealth, and honour, such as none of the kings have had that have been before thee, neither shall there any after thee have the like.
Matthew 6:33 But seek ye first the kingdom of God, and his righteousness; and all these things shall be added unto you.
Proverbs 15:22 Without counsel purposes are disappointed, but in the multitude of counselors they are established.
2. Work. Tend your flocks. Be diligent. You must pay attention to your investments, and take care to know the state of the companies in which you invest. (Be not deceived.)
Galatians 6:7 Be not deceived; God is not mocked: for whatsoever a man soweth, that shall he also reap.
2 Thessalonians 3:10 For even when we were with you, this we commanded you: that if any would not work, neither should he eat.
Proverbs 31:16 She considereth a field, and buyeth it: with the fruit of her hands she planteth a vineyard.
Proverbs 10:4 He becometh poor that dealeth with a slack hand: but the hand of the diligent maketh rich.
Proverbs 13:4 The soul of the sluggard desireth, and hath nothing: but the soul of the diligent shall be made fat.
Proverbs 22:29 Seest thou a man diligent in his business? he shall stand before kings; he shall not stand before mean men.
Proverbs 27:23 Be thou diligent to know the state of thy flocks, and look well to thy herds.
3. Don’t be lazy, you must work. Laziness leads to poverty.
Proverbs 18:9 A lazy person is as bad as someone who destroys things. (NIV)
Ecclesiastes 10:18 By much slothfulness the building decayeth, and through idleness of the hands the house leaks.
Proverbs 24:30 I went by the field of the slothful, and by the vineyard of the man void of understanding;
31 and lo, it was all grown over with thorns, and nettles had covered the face thereof, and the stone wall thereof was broken down.
32 Then I saw and considered it well; I looked upon it, and received instruction:
33 Yet a little sleep, a little slumber, a little folding of the hands to sleep --
34 so shall thy poverty come as one that wandereth, and thy want as an armed man.
Proverbs 20:13 Love not sleep, lest thou come to poverty; open thine eyes, and thou shalt be satisfied with bread.
Proverbs 28:19 He that tilleth his land shall have plenty of bread: but he that followeth after vain persons shall have poverty enough.
4. You must save the excess portion that you get from all your hard work. You must save to become wealthy. Saving means spending less than you earn. There is no other way to become wealthy.
Proverbs 6:6 Go to the ant, thou sluggard; consider her ways, and be wise:
7 Which having no guide, overseer, or ruler,
8 Provideth her meat in the summer, and gathereth her food in the harvest.
Proverbs 30: 24 There are four things which are little upon the earth, but they are exceeding wise:
25 the ants are a people not strong, yet they prepare their meat in the summer;
5. Do not live extravagantly to excess. A Rich man built barns for his money, for a plan of laziness, and it was all taken away. Another rich man lived extravagantly, and ignored the poor, and was taken to hell. But having riches was not the problem, because having wealth is not incompatible with being a disciple of Jesus. A rich man was a disciple of Jesus.
Proverbs 23:21 For the drunkard and the glutton shall come to poverty: and drowsiness shall clothe a man with rags.
Proverbs 21:20 There is treasure to be desired and oil in the dwelling of the wise, but a foolish man spendeth it up.
Proverbs 21:17 He that loveth pleasure shall be a poor man: he that loveth wine and oil shall not be rich.
Luke 12:15 And he said unto them, Take heed, and beware of covetousness: for a man’s life consisteth not in the abundance of the things which he possesseth.
16 And he spake a parable unto them, saying, The ground of a certain rich man brought forth plentifully:
17 And he thought within himself, saying, What shall I do, because I have no room where to bestow my fruits?
18 And he said, This will I do: I will pull down my barns, and build greater; and there will I bestow all my fruits and my goods.
19 And I will say to my soul, Soul, thou hast much goods laid up for many years; take thine ease, eat, drink, and be merry.
20 But God said unto him, Thou fool, this night thy soul shall be required of thee: then whose shall those things be, which thou hast provided?
21 So is he that layeth up treasure for himself, and is not rich toward God.
Mark 10:24 And the disciples were astonished at his words. But Jesus answereth again, and saith unto them, Children, how hard is it for them that trust in riches to enter into the kingdom of God!
25 It is easier for a camel to go through the eye of a needle, than for a rich man to enter into the kingdom of God.
26 And they were astonished out of measure, saying among themselves, Who then can be saved?
27 And Jesus looking upon them saith, With men it is impossible, but not with God: for with God all things are possible.
Matthew 27:57 When the even was come, there came a rich man of Arimathaea, named Joseph, who also himself was Jesus’ disciple:
6. Do not be deceived. This is not advice, it is a positive command to not be deceived. Being deceived leads to disaster. You must avoid investing in frauds such as Enron, or the dollar, or bonds.
Galatians 6:7 Be not deceived; God is not mocked: for whatsoever a man soweth, that shall he also reap.
Deuteronomy 11:16 Take heed to yourselves, that your heart be not deceived, and ye turn aside, and serve other gods, and worship them;
7. Buy low, and sell high! Buy when cheap, sell when expensive. One of the greatest stories of a transfer of wealth occurs in the life of Joseph, who was sold into slavery and taken to Egypt. He became the chief servant of Pharoah, who had a dream. Joseph, with God’s help, interpreted Pharoah’s dream as a prediction of seven years of abundance and plenty, to be followed by seven years of famine. With this knowledge of future economic conditions, the Pharoah put Joseph in charge of storing up grain during the years of plenty at low prices, and then he sold grain during the famine years at high prices, and ended up owning virtually everything in the land of Egypt. See Genesis 41
8. Diversify. Invest your money with wise and honest men for the sake of safety, because you do not know what bad or unexpected things may happen. Although there is no safer investment than gold and silver in your possession. But they can be stolen, so invest with others, like mining companies.
Ecclesiastes 11:1 Cast thy bread upon the waters: for thou shalt find it after many days.
2 Give a portion to seven, and also to eight; for thou knowest not what evil shall be upon the earth.
9. Your money is not your own. It all belongs to God. God will trust you with wealth if you are trustworthy. Be faithful over a little, and God will entrust you with more.
Haggai 2:8 The silver is mine, and the gold is mine, saith the LORD of hosts.
Luke 16:10 He that is faithful in that which is least is faithful also in much: and he that is unjust in the least is unjust also in much.
11 If therefore ye have not been faithful in the unrighteous mammon, who will commit to your trust the true riches?
12 And if ye have not been faithful in that which is another man’s, who shall give you that which is your own?
Luke 19:17 And he said unto him, Well, thou good servant: because thou hast been faithful in a very little, have thou authority over ten cities.
Proverbs 13:22 A good man leaveth an inheritance to his children’s children: and the wealth of the sinner is laid up for the just.
10. Store your treasures in heaven where neither moth nor rust can steal. Recognize that it all belongs to God. And therefore, be a wise steward of what God has entrusted to you. Pay God’s things to God. (only the image belonged to Caesar). The famous question about taxes was a doubled edged question, for if Jesus said "don’t pay tribute to Caesar," then Caesar would have reason to kill him, but if he said "pay tribute to Caesar," then he would be against the Bible laws which say "bow to none other than God," and it all belongs to God.
Mark 12:13 And they send unto him certain of the Pharisees and of the Herodians, to catch him in his words.
14 And when they were come, they say unto him, Master, we know that thou art true, and carest for no man: for thou regardest not the person of men, but teachest the way of God in truth: Is it lawful to give tribute to Caesar, or not?
15 Shall we give, or shall we not give? But he, knowing their hypocrisy, said unto them, Why tempt ye me? bring me a penny, that I may see it.
16 And they brought it. And he saith unto them, Whose is this image and superscription? And they said unto him, Caesar’s.
17 And Jesus answering said unto them, Render to Caesar the things that are Caesar’s, and to God the things that are God’s. And they marvelled at him.
Matthew 6:20 But lay up for yourselves treasures in heaven, where neither moth nor rust doth corrupt, and where thieves do not break through nor steal:
Matthew 19:21 Jesus said unto him, If thou wilt be perfect, go and sell that thou hast, and give to the poor, and thou shalt have treasure in heaven: and come and follow me.
Matthew 25
The Parable of the Talents
14"Again, it will be like a man going on a journey, who called his servants and entrusted his property to them. 15To one he gave five talents of money, to another two talents, and to another one talent, each according to his ability. Then he went on his journey. 16The man who had received the five talents went at once and put his money to work and gained five more. 17So also, the one with the two talents gained two more. 18But the man who had received the one talent went off, dug a hole in the ground and hid his master’s money.
19"After a long time the master of those servants returned and settled accounts with them. 20The man who had received the five talents brought the other five. ’Master,’ he said, ’you entrusted me with five talents. See, I have gained five more.’
21"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!’
22"The man with the two talents also came. ’Master,’ he said, ’you entrusted me with two talents; see, I have gained two more.’
23"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!’
24"Then the man who had received the one talent came. ’Master,’ he said, ’I knew that you are a hard man, harvesting where you have not sown and gathering where you have not scattered seed. 25So I was afraid and went out and hid your talent in the ground. See, here is what belongs to you.’
26"His master replied, ’You wicked, lazy servant! So you knew that I harvest where I have not sown and gather where I have not scattered seed? 27Well then, you should have put my money on deposit with the bankers, so that when I returned I would have received it back with interest.
28" ’Take the talent from him and give it to the one who has the ten talents. 29For everyone who has will be given more, and he will have an abundance. Whoever does not have, even what he has will be taken from him. 30And throw that worthless servant outside, into the darkness, where there will be weeping and gnashing of teeth.’
Prov 19:17 He that hath pity upon the poor lendeth unto the LORD; and that which he hath given will he pay him again.
11. If you must, lend, but take no usury. Do not be a usurer. In the modern world, this means you cannot invest in bonds, nor CD’s, nor a savings account, nor Treasury bills, nor junk bonds. Taking usury is extortion.
Luke 6:35 But love ye your enemies, and do good and lend, hoping for nothing in return; and your reward shall be great, and ye shall be the children of the Highest; for He is kind unto the unthankful and to the evil.
Leviticus 25:36 Take thou no usury of him, or increase: but fear thy God; that thy brother may live with thee.
37 Thou shalt not give him thy money upon usury, nor lend him thy victuals for increase.
Deuteronomy 23:19 Thou shalt not lend upon usury to thy brother; usury of money, usury of victuals, usury of any thing that is lent upon usury:
Exodus 22:25 If thou lend money to any of my people that is poor by thee, thou shalt not be to him as an usurer, neither shalt thou lay upon him usury.
Ezekiel 22:12 In thee have they taken gifts to shed blood; thou hast taken usury and increase, and thou hast greedily gained of thy neighbours by extortion, and hast forgotten me, saith the Lord GOD.
Nehemiah 5:7 I pondered them in my mind and then accused the nobles and officials. I told them, "You are exacting usury from your own countrymen!" So I called together a large meeting to deal with them (8) and said: "As far as possible, we have bought back our Jewish brothers who were sold to the Gentiles. Now you are selling your brothers, only for them to be sold back to us!" They kept quiet, because they could find nothing to say. (9) So I continued, "What you are doing is not right. Shouldn’t you walk in the fear of our God to avoid the reproach of our Gentile enemies? (10) I and my brothers and my men are also lending the people money and grain. But let the exacting of usury stop!
12. The borrower is the servant to the lender. Therefore do not lend, lest you enslave someone. And do not borrow and enslave yourself. No man can serve two masters, God and mammon. Therefore, you cannot serve money, or be in debt. If you are in debt, you must "service" the debt, and the borrower is the servant to the lender. Be a servant to God alone, not to money. Make your money serve you, don’t serve the money you have spent to excess that did not belong to you in the first place. Don’t be a slave to debt. Be free. Declare your freedom. You are allowed, by God, to declare your freedom once every seven years. Debts are not meant to be carried for 30 years, but only for a maximum of seven. It is not dishonorable to declare your freedom (bankruptcy. It is especially not dishonorable when fraud, (unjust weights and measures) are used to enslave you to debt.
Proverbs 22:7 The rich ruleth over the poor, and the borrower is servant to the lender.
Matthew 6:24 No man can serve two masters: for either he will hate the one, and love the other; or else he will hold to the one, and despise the other. Ye cannot serve God and mammon.
1 Corinthians 7:23 Ye are bought with a price; be not ye the servants of men.
Deuteronomy 15:12 And if thy brother, an Hebrew man, or an Hebrew woman, be sold unto thee, and serve thee six years; then in the seventh year thou shalt let him go free from thee.
Jeremiah 34:14 At the end of seven years let ye go every man his brother an Hebrew, which hath been sold unto thee; and when he hath served thee six years, thou shalt let him go free from thee: but your fathers hearkened not unto me, neither inclined their ear.
13. Use just weights and measures. Unjust weights and measures are an abomination. Therefore the dollar, which used to be a weight of gold, is no longer a just weight of gold. The dollar is fraud, and an abomination.
Leviticus 19:35 Ye shall do no unrighteousness in judgment, in meteyard, in weight, or in measure.
Deuteronomy 25:15 But thou shalt have a perfect and just weight, a perfect and just measure shalt thou have: that thy days may be lengthened in the land which the LORD thy God giveth thee.
Proverbs 20:10 Divers weights, and divers measures, both of them are alike abomination to the LORD.
Proverbs 20:10 Differing weights and differing measures, Both of them are abominable to the LORD. (NASB)
14. Do not steal.
Exodus 20:15 Thou shalt not steal.
15. Do not covet. (To covet means to envy and desire things that don’t belong to you.) Coveting makes you miserable, and it makes you want to take from another to be rich, rather than realizing that wealth comes from producing on your own.
Exodus 20:17 "Thou shalt not covet thy neighbor’s house; thou shalt not covet thy neighbor’s wife, nor his manservant, nor his maidservant, nor his ox, nor his ass, nor anything that is thy neighbor’s."
16. Avoid the lures of communism, which is the result of coveting and stealing. Avoid insurance, and social security, which are plans of communism. Trust in God’s ways. God’s ways are that the family should take care of the family. The way of the criminals is the way of communism, "let us all have one purse", which means that the family does not need to take care of the family, because the state has taken over the family duty.
Exodus 20:12 Honour thy father and thy mother: that thy days may be long upon the land which the LORD thy God giveth thee.
1 Timothy 5:8 But if any provide not for his own, and specially for those of his own house, he hath denied the faith, and is worse than an infidel.
Proverbs 1:11 If they say, "Come with us; let us lie in wait for blood, let us lurk privily for the innocent without cause;
12 let us swallow them up alive as the grave, and whole, as those that go down to the pit;
13 we shall find much precious substance, we shall fill our houses with spoil;
14 cast in thy lot among us, let us all have one purse""
15 my son, walk not thou in the way with them; restrain thy foot from their path;
16 for their feet run to evil and make haste to shed blood.
17 Surely in vain the net is spread in the sight of any bird!
18 And they lie in wait for their own blood; they lurk privily for their own lives.
19 So are the ways of every one that is greedy for gain, which taketh away the life of the owners thereof.
17. Why should God bless you with wealth if you would use it for selfish things, and if it could cause you to lose your soul? Wealth comes with problems, and creates problems. Wealth can be stolen, which is a problem the rich will fear. Wealth comes with responsibility--not only to defend and protect it, but to use it wisely, to give it away wisely, and to invest it into the Kingdom of God.
Ecclesiastes 5:12 The sleep of a labouring man is sweet, whether he eat little or much: but the abundance of the rich will not suffer him to sleep.
Proverbs 23:5 Wilt thou set thine eyes upon that which is not? for riches certainly make themselves wings; they fly away as an eagle toward heaven.
Matt 13:22 He also that received seed among the thorns is he that heareth the word; and the care of this world, and the deceitfulness of riches, choke the word, and he becometh unfruitful.
Luke 9:25 For what is a man advantaged if he gain the whole world, and lose himself or be cast away?
18. To me, investing into the Kingdom of God, means to start back at number one, and seek Bible knowledge. And then, to teach that knowledge to others who are interested, like I’m doing with this article. And also, by promoting the gospel message that we can have eternal life through believing in, and speaking about what Jesus did for us when he died in our place for us, and then was raised from the dead.
Rom 5:8 But God commendeth his love toward us, in that, while we were yet sinners, Christ died for us.
1John 1:8 If we say that we have no sin, we deceive ourselves, and the truth is not in us.
1John 1:9 If we confess our sins, he is faithful and just to forgive us our sins, and to cleanse us from all unrighteousness.
Rom 10:9 That if thou shalt confess with thy mouth the Lord Jesus, and shalt believe in thine heart that God hath raised him from the dead, thou shalt be saved.
Rom 10:10 For with the heart man believeth unto righteousness; and with the mouth confession is made unto salvation.
Mat 10:32 Whosoever therefore shall confess me before men, him will I confess also before my Father which is in heaven.
