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May 19, 2011

Important Biblical Principles to Help You Manage Your Money

by Admin

Many people put their faith into practice in many ways, but people rarely think about Biblical finances today. Managing your money is important. Make the wrong mistakes and you’ll end up in serious financial trouble. The good news is that the Bible does provide some excellent money management advice that can help. Here is a look at just a couple Biblical principles that you can begin using in your financial life.

First, planning a budget is a biblical principle. Take a look at Proverbs 21:5 where it talks about the plans of the diligent providing advantages. Good planning can pay off in the financial realm. Start planning your financial life, through a budget and you’ll have a better idea of where your money goes and you’ll avoid squandering away money for no reason. A budget is simply a short-term plan that lays out how you are going to spend your money. While many people think that a budget takes away their freedom, you’ll actually find that the opposite is true. Developing and following a budget can help you ensure you don’t spend more than you earn and will help you avoid debt.

As you look at Biblical finances and the money management the Bible lays out, you’ll find that another important principle is to have a good savings plan. Proverbs 21:20 in the New International Version states that “In the house of the wise are stores…” This verse is talking about storing up for the future, which is basically developing a savings plan. Those who are wise are not going to spend everything. Storing up for future needs or emergencies is important. Saving some of the money you make can help you to manage your money effectively. It not only will add up and provide you with money if an emergency occurs, but it also helps you to develop wise spending habits as well.

If you’re interested in Biblical finances, there are just a few of the principles that you can find laid out in the Bible. Planning a budget and having a good savings plan are two important principles that can make a huge difference in your financial future. Begin using these principles in your own life and see the difference it makes.

Read more from Lifestyle, Word of Life, Youth

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