Ever wondered what it would be like to spend a few minutes daily with someone with a net worth of $2.2 trillion?
The prolific King Solomon penned a majority of the thirty-one Proverbs that we have access to without any cost.
These brief yet profound chapters hold transformative insights.
While the financial world is constantly evolving with new trends, many of which are mere passing phases, the age-old wisdom that has endured millennia remains unmatched.
Although Wall Street is brimming with intellectual powerhouses, it’s also home to the minds behind catastrophic failures like Enron and Lehman Brothers. For me, I’d rather place my trust in divine wisdom. He assures us guidance towards prosperity.
The Lord says, “I am the Lord your God who teaches you to profit, who guides you in the direction you should go” (Isaiah 48:17, ESV).
Money is a recurring theme in the Bible. Some references celebrate its power, while others serve as stern cautions. Both types of teachings are crucial for maintaining a righteous path.
Here, I’ve selected five Proverbs that shed light on financial success. Do share your top pick in the comments.
- Proverbs Encourages Planning
“The plans of the diligent lead to plenty, but those who act without thought end up in want” (Proverbs 21:5, ESV).
It’s astonishing how many individuals navigate life without a clear financial goal or strategy. Many spend their earnings without pondering their future aspirations. But when we neglect our ultimate goals, a downfall is imminent. While financial planning isn’t complex, it demands dedication. Starting small is the key.
I always recommend initiating with a budget. All you need is a basic list. I’m an advocate of the zero-based budgeting approach. Before the month starts, allocate every dollar you’ll earn. It’s akin to a builder following an architect’s blueprint. Stick to the plan, assess it, and adjust accordingly.
“Without a strategy, beating the majority is straightforward” (Paul “Bear” Bryant).
Those who earn more than they spend can save and invest more.
Action Step: Start monitoring your expenses. Begin a budget plan from next month.
- Proverbs Advocates Saving
“Wise people store up choice food and olive oil, but fools gulp theirs down” (Proverbs 21:20, NKJV).
Life is unpredictable. Everything we own will eventually wear out, often at the most inconvenient times. Hence, having a reserve fund is crucial.
While some refer to these as emergency funds or peace-of-mind funds, the essence remains the same. It’s advised to have savings equivalent to 3-6 months of living expenses. If possible, save even more.
Action Step: Begin saving a portion from every paycheck, even if it’s just a small amount.
- Proverbs Stresses the Perils of Debt
“The wealthy rule over the poor; a borrower is a slave to the lender” (Proverbs 22:7, NIV).
Evading debt demands more than mere avoidance; it requires resilience. To live a debt-free life, one must consciously strive and resist the allure of easy money.
Debt constrains our future. I aim to remain financially agile, ready to act on God’s guidance without fiscal constraints.
Action Step: Choose not to be swayed by credit card offers.
- Proverbs Highlights the Importance of Risk Management
“A wise person sees danger and takes refuge; the naive keep going and pay the penalty” (Proverbs 27:12, NKJV).
Ensuring against potential financial catastrophes by transferring risk is essential. Insurance is the primary method of achieving this.
Action Step: Review your insurance needs and get quotes to ensure you’re adequately covered.
- Proverbs Celebrates Generosity
“Those who bless others will be abundantly blessed themselves; those who help others are helped” (Proverbs 11:25, NIV).
To detach from the love of money, embrace generosity. The Kingdom of God operates on principles that may seem counterintuitive, but their power is undeniable.
Action Step: Next time you’re at a drive-through, pay for the person behind you.
Final Thoughts:
Proverbs are a treasure trove of wisdom. While I’ve highlighted just a handful here, there are numerous others brimming with financial sagacity. Dive into one Proverb daily and apply its teachings. Within a month, you’ll discern a significant elevation in your financial acumen.
Share your cherished financial Proverb in the comments below!
