5 Things the Bible Says about Managing Money Wisely

1. Think about What the Bible Says about Tithing

When we steward our finances, we must remember that it’s all God’s money. Giving back to God is an act of gratitude, humility, reverence, and trust. That’s why the Israelites were told in Leviticus 27:30, “A tithe of everything from the land, whether grain from the soil or fruit from the trees, belongs to the LORD; it is holy to the LORD.” The word “tithe" in Hebrew means a tenth. So before they enjoyed any fruits of their labor, they were to sacrifice a tenth to God. Do we still do so today?

According to the Barna Group’s research, only 21% of Christians in the U.S. give 10% of their money to their church. However, there is much controversy over whether God calls us today to give 10 percent to the church's work. Thomas Schreiner argues in his Gospel Coalition article “7 Reasons Christians Are Not Required to Tithe”  that since believers are no longer under the Mosaic covenant, and the New Testament doesn’t mention tithing, Christians are not required to give a tenth. However, the New Testament does speak many times about generous giving. Furthermore, the spirit of the tithe remains: give to God (your church) before giving to other organizations and spending on your budget. Always consider how to help the poor as Jesus commanded, and give with the right attitude, not out of obligation.

Verses for Further Study: Proverbs 3:9, Malachi 3:10, Deuteronomy 16:17, Proverbs 13:22, Acts 2:43-47; 4:32-37, 11:27-30; Gal. 2:10, 1 Cor. 16:1-4. 

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2. Think about What the Bible Says about Budgeting

Though Jesus was talking to the disciples about the cost of following him in one of his parables and not about budgeting, His words make sense when it comes to budgeting as well. He said, “Suppose one of you wants to build a tower. Won’t you first sit down and estimate the cost to see if you have enough money to complete it? For if you lay the foundation and are not able to finish it, everyone who sees it will ridicule you, saying, ‘This person began to build and wasn’t able to finish.’”

A key tool to managing our money is planning how it will come in and go out—all to the glory of God. Regarding our income, our work should be dedicated to God, shouldn’t break one of his moral laws, and should be carried out with integrity and honesty. Then, when it comes to the money’s outflow, we need to prayerfully plan how it will be given, saved, and spent. As we’ve already said, everything we own belongs to the Lord, and we must steward it wisely. Ideally, your first fruits go to God, and you spend money so that there is money to give to those less fortunate in Jesus’ name.

Verses for Further Study: Luke 14:28-30, 1 Corinthians 16:2, Proverbs 21:5, Proverbs 27:23, Proverbs 13:16, 1 Timothy 5:8.

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3. Think about What the Bible Says about Saving and Investing

In the Sermon on the Mount, Jesus said, “Do not store up for yourselves treasures on earth, where moths and rust destroy, and where thieves break in and steal. But store up for yourselves treasures in heaven, where moths and rust do not destroy, and where thieves do not break in and steal. For where your treasure is, there your heart will be also.” Jesus was talking about money and other things that we “treasure” or idolize that take our attention away from living for the Kingdom of God.

Did He mean that we shouldn’t worry about our future needs? In essence, yes. Like the Israelites who subsisted on the quail and manna in the desert, they had to trust God daily for His provision. Yet how many of us today wouldn’t consider it very irrational to think that we shouldn’t save for our future–for a “rainy day.” It’s good to be responsible, as long as saving doesn’t turn into fearful hoarding (and the Holy Spirit can show you the difference)

According to Forbes, 78% of Americans live paycheck to paycheck, making saving difficult. Sure, we can look for ways to trim our budget, but sometimes it’s nearly impossible. But what are we saving for? Are we concerned that we won’t have enough money when we are older? I know a family right now that is losing all of its savings because of ongoing sickness related to COVID. They were diligent to save and invest, but now all they can do is pray that God will provide for them in some way where there seems to be no way. But they trust in a God who has proven time and time again to be their Provider.

Verses for Further Study: 2 Cor. 9:8, Proverbs 6:6-8.

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4. Think about What the Bible Says about Giving

In his book Experience God as Your Provider, Brian Kluth writes about how we must explore “the idea of experiencing God as your provider, begin to build your finances and life on the solid Rock of God's Word, and learn to become a generous person.” Kluth shares incredible stories of people who truly believed that everything they had belonged to God, and if someone else needed it, they would give it. And God would bless them in unique ways for their generosity.

The gospels contain many instances of Jesus talking about giving to others in need, especially to widows, orphans, and the sick who had no one to care for them and no way to earn money. My favorite story about giving involves one of those who had nothing.

“And he [Jesus] sat down opposite the treasury and watched the people putting money into the offering box. Many rich people put in large sums. And a poor widow came and put in two small copper coins, which make a penny. And he called his disciples to him and said to them, “Truly, I say to you, this poor widow has put in more than all those who are contributing to the offering box. For they all contributed out of their abundance, but she out of her poverty has put in everything she had, all she had to live on.” (Mark 12:41-44)

Elsewhere, Jesus met a rich, young ruler who wanted to follow Him. When Jesus suggested he sell everything he had and give it to the poor, he went away sad. He didn’t really believe that God could be trusted to care for him if he were generous with the poor. (Matthew 19:21). God “loves a cheerful giver.” So ask Him each day if there is someone you can bless and how you can do so—perhaps more extravagantly than ever.

Verses for Further Study: Proverbs 19:17, Proverbs 28:27, Hebrews 13:16, 2 Cor. 9:7, Matthew 6:1-4, James 1:17, Deuteronomy 16:17.

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5. Remember that We Cannot Serve Two Masters

When Jesus presented His sermon on the mount, one of the subjects he spoke about was money and our relationship to it. After saying, “No one can serve two masters, for either he will hate the one and love the other, or he will be devoted to the one and despise the other,” He made it clear that “You cannot serve God and money” (Matthew 6:24).

Likely, some people in the crowd thought He was talking nonsense. Who serves money? Doesn’t money serve us? It depends on what you think about it. As I’ve said, if we see all money and possessions as belonging to God, we will steward what we have to live on a budget, not overspend, and give what we can. But if we believe our money is ours, it will turn on us, as Wax mentioned. We will think we deserve more and need to acquire more to live the kind of life we want, not necessarily following God’s will for our lives.

Perhaps all Christian money management can be summed up by what the writer to the Hebrews said in Hebrews 13:5: “Keep your life free from the love of money, and be content with what you have, for he has said, ‘I will never leave you nor forsake you.” God knows what we need, and the Holy Spirit can show us in every situation how to manage “every good and perfect gift” that God has given us from above.

One man who knew that he would never serve two masters was George Muller, who always comes to mind when trusting God to provide. In the 1900s, George opened several orphanages in England, although he had no money. He had such a deep faith in God’s willingness to meet the needs of these children that he would pray diligently, and people would give him money to care for hundreds of orphans. They never went hungry, and George was never in debt. He’s an example for all believers of the power of prayer and selfless trust in our God, who delights in giving good gifts to His children.

Verses for Further Study: 1 Timothy 6:10, Ecclesiastes 5:10, 1 Timothy 6:17-19, Luke 12:15, Proverbs 11:4, Matthew 6:25.

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