Millions of people view the New Year’s holiday as an opportunity to make some much-needed changes in their lives. While weight loss and physical conditioning are among the most popular resolutions, getting better at money management is another popular choice. As children of God, it is important that we filter each of our resolutions through Scripture. Fortunately, the Bible is filled with information about how God wants His people to handle their finances.
Money is one of the most misunderstood concepts in the modern Church. Unfortunately, that is largely because a lot of churches seem to take one of two stances on the topic, and both of them are quite extreme. Some church leaders seem to hyperfocus on money, making it the primary message of the Gospel. These leaders, often referred to as “prosperity preachers” are often accused of focusing solely on money in the name of lining their own pockets. Conversely, there are other churches that never mention money. For many of them, taking this approach is the byproduct of the misguided belief that God is anti-money.
As is the case with most topics, taking an extreme stance is not the right option. The Bible does talk a lot about money. However, the Bible doesn’t talk about money in a context that states that Christians shouldn’t have any money. Admittedly, the Bible also doesn’t say that making as much money as possible should be the Christian’s top priority.
Make no mistake about it, God knows that we need money. God knows that we have bills to pay and groceries to buy. Our Heavenly Father is fully aware of the fact that we need to pay for places to live and clothes to wear. God also wants us to have things in our lives that bring us joy, and He knows that those things require money.
With the arrival of a new year, many of us are putting together our New Year’s resolutions. While getting into better shape, losing that extra 20 pounds, and joining a gym may be the most common resolutions, it’s worth noting that getting better at money management is also a popular resolution.
As children of God, any changes that we want to make to our lives should be filtered through Scripture. This is particularly true when dealing with our finances. With that in mind, here are four Scriptural tips that you can apply to your own money management in the coming year.
Resolution 1: Make a Budget
Luke 14:28-30 (NLT)
But don’t begin until you count the cost. For who would begin construction of a building without first calculating the cost to see if there is enough money to finish it? Otherwise, you might complete only the foundation before running out of money, and then everyone would laugh at you. They would say, “There’s the person who started that building and couldn’t afford to finish it!”
It may come as a surprise, but the topic of creating a budget is a Scriptural concept. While we know that Christ and His disciples didn’t make a lot of money during their ministry years, it’s worth noting that most of the occupations that the disciples had before they joined Christ’s team are discussed. Some were fisherman and Matthew was a tax collector. They all had jobs that they relied on to earn income, which meant that God knew that they handled money.
Creating a budget is not only a great way to help you avoid financial stress, but it’s also a Godly principle that Christ outlined in Scripture. God does not want us to be stressed about money. However, that doesn’t mean that He is just going to supernaturally put millions of dollars in your bank account. If He were to do that, you would still be stressed about money if you didn’t know how to correctly manage it. That’s why budgeting is so important.
As the new year begins, sit down and create a budget for your annual spending. Begin by calculating how much money you can expect to make each month, and then figure out your monthly expenses. Set aside a portion of your money for savings, and even be willing to put aside some for entertainment and recreation. Having a budget will help you avoid financial stress in the coming year.
Resolution 2: Plan to Give
Malachi 3:8-10 (ESV)
“Will man rob God? Yet you are robbing me. But you say, ‘How have we robbed you?’ In your tithes and contributions. You are cursed with a curse, for you are robbing me, the whole nation of you. Bring the full tithe into the storehouse, that there may be food in my house. And thereby put me to the test, says the Lord of hosts, if I will not open the windows of heaven for you and pour down for you a blessing until there is no more need.”
Tithing is one of the most hotly debated topics found in Scripture. Many modern Church leaders teach that it is an Old Testament concept and should be ignored. However, that’s not true. While tithing was instituted in the Old Testament, it is also discussed in the New Testament. With that in mind, tithing and giving should be a part of your financial plan.
This passage from Malachi is the only time that God ever told His people to put Him to the test. Instead of just trusting Him, God told His people to test Him in their giving. Why do you think that God chose money as the area in which He encouraged His people to test Him? It was because He knew that money would be the hardest area for many of us to be obedient.
Tithing means giving 10% of your income to the Church. In the coming year, put God’s faithfulness to the test in giving.
Resolution 3: Invest
Ecclesiastes 11:1 (ESV)
Cast your bread upon the waters, for you will find it after many days.
Does it surprise you to know that there are multiple Bible verses that discuss the importance of investing your money? If so, it shouldn’t. God is a forward-focused God. He is constantly looking to the future. While we know that He focuses on our eternities, it’s no surprise that He wants us to look to the future with our money.
Make a plan for investing your money and stick to it. When you’re fulfilling resolution number one in regard to budgeting, make sure that you make some plans to invest your money. If you’re not savvy enough to navigate the stock market on your own, work with an industry professional to help you make good decisions.
When you invest your money, you’re setting yourself up to avoid financial stress in the future. This is a Godly move that will provide you with many long-term benefits.
Resolution 4: Save
Proverbs 21:20 (ESV)
Precious treasure and oil are in a wise man’s dwelling, but a foolish man devours it.
Finally, it’s important that we don’t spend every dollar we make. Unfortunately, many of us turn to “retail therapy” when we’re facing stress. While the momentary euphoria associated with buying new possessions is nice, it often leads to other long-term issues that we are better off avoiding.
One of the Godliest things you can do with your money is to set aside some for the future. While many people think of retirement savings as something they shouldn’t worry about until they are “old,” that’s not the case. In addition to planning for retirement, saving your money also gives you a cushion to fall back on when things get difficult in the short-term future.
Applying these four resolutions is about much more than just avoiding financial stress. Since each of them are based on Scripture, they are also powerful ways to be more obedient to God in your finances.
A Closing Prayer:
Heavenly Father, help me to better serve You in every area of my life, including my finances. Help me to break the bad financial habits that I have established so I can manage the money that You bless me with in a way that pleases You. In Christ’s name, Amen.