Thursday, November 12, 2009
The Bible & Money: Spending Money
Once you've made some money, what should you do with it? Good news: the first thing you do with it is spend it. But before you start spending, you need to:
Plan your Spending (Budgeting)
Proverbs 21:5 (ESV) The plans of the diligent lead surely to abundance, but everyone who is hasty comes only to poverty.
Part of the planning process is determining what to spend your money on. Here are a few things that the Bible teaches us.
Take Care of your Family
1 Timothy 5:8 (ESV) But if anyone does not provide for his relatives, and especially for members of his household, he has denied the faith and is worse than an unbeliever.
1 Timothy 4:4 (ESV) For everything created by God is good, and nothing is to be rejected if it is received with thanksgiving.
Deuteronomy 14:24-26 (ESV) And if the way is too long for you, so that you are not able to carry the tithe, when the Lord your God blesses you...then you shall turn it into money...and spend the money for whatever you desire - oxen or sheep or wine or strong drink, whatever your appetite craves. And you shall eat there before the Lord your God and rejoice, you and your household.
Get out of debt and stay out of debt
Proverbs 22:7 (ESV) The rich rules over the poor, and the borrower is slave of the lender.
Be content with what you have
1 Timothy 6:6-10 (ESV) Now there is great gain in godliness with contentment, for we brought nothing into the world, and we cannot take anything out of the world. But if we have food and clothing, with these we will be content. But those who desire to be rich fall into temptation, into a snare, into many senseless and harmful desires that plunge people into ruin and destruction. For the love of money is a root of all kinds of evils. It is through this craving that some have wandered away from the faith and pierced themselves with many pangs.