Want to be Smarter With Your Money?

Join our mailing list and get news and info to support your financial goals.

Thank you! Oops!
5 Biblical Principles in Pursuit of Financial Success

5 Biblical Principles in Pursuit of Financial Success

April 03, 2024

As we celebrate Financial Literacy Month, it's essential to recognize that financial wisdom transcends mere numbers and spreadsheets. Financial literacy encompasses principles that guide our actions, decisions, and ultimately our financial well-being. At Freitas Wealth Management Group, we believe that timeless wisdom found in the Bible offers invaluable insights into sound financial stewardship. Regardless of your faith background, these principles can empower you to pursue financial freedom and security.

  1. Spend Less Than You Earn (Proverbs 13:11):

The principle of spending less than you earn is foundational to financial confidence. Proverbs 13:11 wisely states, "Wealth gained hastily will dwindle, but whoever gathers little by little will increase it." This verse highlights the importance of prudence and patience in managing our finances. By living below our means and practicing disciplined spending habits, we can build a solid foundation for long-term financial stability.

  1. Avoid the Use of Debt (Proverbs 22:7):

Debt can be a double-edged sword, offering temporary relief but often leading to long-term financial bondage. Proverbs 22:7 warns, "The borrower is slave to the lender." This timeless truth reminds us of the dangers of excessive debt and the freedom that comes from living debt-free. By prioritizing financial discipline and avoiding unnecessary debt, we can safeguard our financial future.

  1. Build Margin – Save (Proverbs 6:6-8):

Proverbs 6:6-8 offers a powerful lesson in diligence and foresight: "Go to the ant, you sluggard; consider its ways and be wise! It has no commander, no overseer or ruler, yet it stores its provisions in summer and gathers its food at harvest." Like the ant, we are encouraged to cultivate a habit of saving and building margin in our finances. By consistently setting aside a portion of our income for savings and emergencies, we can weather financial storms and pursue our long-term goals with confidence.

  1. Set Long-Term Goals (Philippians 3:14):

Setting long-term goals provides a roadmap for our financial journey and helps us stay focused on what truly matters. Philippians 3:14 exhorts us to "press on toward the goal for the prize of the upward call of God in Christ Jesus." This verse reminds us of the importance of vision, perseverance, and purpose in achieving our goals. Whether it's saving for retirement, funding a child's education, or giving back to our community, setting clear and meaningful goals empowers us to make wise financial decisions that align with our values and priorities.

  1. Give Generously (II Corinthians 8 and 9):

Generosity lies at the heart of biblical stewardship, reflecting God's abundant grace and provision in our lives. II Corinthians 9:6-7 reminds us, "The point is this: whoever sows sparingly will also reap sparingly, and whoever sows bountifully will also reap bountifully. Each one must give as he has decided in his heart, not reluctantly or under compulsion, for God loves a cheerful giver." By embracing a spirit of generosity and giving back to others, we experience the joy of making a positive impact in the world and lay up treasures in heaven that far outweigh any material wealth.

As we reflect on these five fundamental truths from the Bible, let us remember that financial literacy is not just about managing money; it's about stewarding the resources entrusted to us for the greater good. By incorporating these timeless principles into our lives, we can cultivate financial wisdom, experience greater financial freedom, and honor God with our finances. Regardless of our faith background, these principles can offer a blueprint for building a brighter financial future for ourselves and future generations. Let's commit to living out these truths and empowering others to do the same as we celebrate Financial Literacy Month and beyond.

The opinions voiced in this article are for general information only and are not intended to provide specific advice or recommendations for any individual. To determine which strategies or investments may be suitable for you, consult the appropriate qualified professional prior to making a decision.

The opinions expressed in this material do not necessarily reflect the views of LPL Financial.