Many people turn to the Bible to learn about life and navigate life’s challenges, but few relate Bible teachings to finance. Dave Ramsey, a personal finance expert, is changing it by teaching a Bible-based financial curriculum for better money management, growth, etc.
While there are hundreds of Biblical verses around money, he talks predominantly about 50 verses that form the core of much of his teaching. Here are 12 Biblical lessons on finance you can learn from these verses.
Hard Work Leads to Profit
The Proverbs 14:23 (NIV) highlights the importance of consistent action. It states that financial success doesn’t come from mere wishful thinking but from consistent effort.
People can reference this verse to understand that hard work produces tangible results, whereas empty talk without action results in poverty. Regardless of your life stage, always try to become proactive through working, investing wisely, budgeting, etc., to improve your financial standing.
Slow and Steady Wealth Growth
If you’ve read the Proverbs 13:11 (ESV) verse, you’ll know that it warns people against chasing quick riches. The verse explains how wealth gained through shortcuts, such as fraud, gambling, reckless investment, etc., often disappears quickly.
People desiring lasting financial success and security must accumulate wealth gradually through steady work, savings, and disciplined investing. One of the biggest finance lessons you can learn is ‘patience’ in your growth journey.
Avoid Unwise Debt
People who have developed a habit of buying materialistic items in any form of debt must implement the teaching from Proverbs 22:26-27 (NIV) verse.
This verse warns against reckless borrowing or co-signing any loans you cannot repay. Doing so will attract financial ruin, and your personal assets may be lost in repayment. Hence, focus on living within your means and avoid unnecessary debt. You should also avoid guaranteeing loans for others to prevent any financial distress.
Financial Wisdom Demands Planning
Most financial experts share notions similar to those expressed in Proverbs 13:16 (TLB). According to this verse about money management and planning, a wise person will always save for the future, whereas a foolish person will live carelessly without preparation.
It encourages every person to budget, save, and think ahead about potential expenses to lead a worry-free life.
Financial Integrity is Paramount
The Luke 16:10-11 (NIV) verse is among the most potent verses emphasizing trustworthiness in handling money. The verse shares a timeless lesson: whoever is careless or dishonest with small amounts cannot be trusted with greater wealth.
It highlights how financial discipline and integrity in small matters, like budgeting, repaying debts, or even honest financial dealings, pave the way for increased financial blessings. You can learn about being responsible with little wealth to ensure long-term economic stability.
Building Generational Wealth
While some people are focused on building wealth for themselves, Proverbs 13:22 (NKJV) recommends people to build and leave a financial legacy for the well-being of their future generations. Even if you have a small family, you should strive to create long-term financial security for them.
One of this verse’s most notable financial lessons is exploring ways to build generational wealth, such as smart financial management, investment, estate planning, etc.
Importance of Financial Planning
You cannot undermine the importance of financial planning in today’s volatile environment. Jesus used the example of a builder in the Luke 14:28-30 (NIV) verse to explain the same. He mentioned how a builder who failed to plan faced ridicule and failure.
You can implement this teaching to prevent financial struggles, unfinished projects, and lost credibility. Whether you plan to buy a house or start a business, always take time to calculate the associated costs and plan ahead to avoid any unnecessary financial hardship.
Know the State of Your Finances
Everyone from a young adult to a mid-senior level working professional, a high-profile individual to a person nearing retirement should pay attention to the financial lesson conveyed in Proverbs 27:23-24 (NIV). It stresses the importance of financial awareness because wealth is not permanent, and careless financial management can lead to impending loss.
The teaching translates to regularly reviewing your income, expenses, savings, and investments to know your accurate financial standing. This knowledge can help you prepare for economic downturns, unexpected expenses, and future needs.
The Importance of Saving
Proverbs 21:20 (NIV84) is a noteworthy verse that contrasts wisdom and foolishness in financial habits. It mentions how a financially wise person saves and invests resources according to his needs and economic health, whereas a foolish person spends everything at once. Having savings for emergencies, retirement, and the future will ensure financial security.
People who live paycheck to paycheck without savings will continue experiencing stress and instability. You can implement it by reducing your impulse purchases and setting aside a tiny portion of your income for the future.
Contentment Over Excess
Lasting fulfillment is one of the least talked about concepts in one’s financial growth journey, yet the most important. The Psalm 37:16 (NIV) verse aims to educate people on this matter. It mentions that prioritizing financial contentment and integrity leads to lasting fulfillment, whereas unethical financial gains often lead to regret.
Chasing wealth at the cost of integrity may earn quick money, but true financial peace will only come from honest earnings and responsible living. So, focus on ethical financial management.
The Danger of Debt
The Bible has numerous verses about debt, but Proverbs 22:7 (NIV) stands out for its simplicity in explaining the dangers of financial borrowing. The verse talks about how debt creates dependency and excessive borrowing leads to economic slavery.
It mentions that those who own money hold control over borrowers, while the ones who owe money lose financial freedom. If you’re looking for a key to financial independence, focus on living within your means and avoiding debt wherever possible.
The Futility of Greed
While greed isn’t discussed enough during money-related talks, it should be included because of its role in a person’s life. The Ecclesiastes 5:10 (NIV) verse highlights this aspect by citing that an unhealthy obsession with money leads to dissatisfaction.
No matter how much money you accumulate, it will always look insufficient if driven by greed. Instead of chasing endless wealth, you should focus on wise money management, generosity, and financial stability.
