As the year comes to an end, I think it is fitting to share some principles regarding stewardship, specifically financial stewardship. These are elementary tips gleaned from the wisdom in the Holy Bible. For a personalized financial plan, I’d suggest speaking with a carefully selected financial planner. Further, any good financial plan must begin with prayer.

It takes wisdom to build a house,
and understanding to set it
on a firm foundation;
It takes knowledge to furnish its rooms
with fine furniture and beautiful draperies.

Proverbs 24:3-4 (MSG)

1. Gather information

There is so much information available today and it’s all easily accessible. Read news articles to learn what is going on in the world and read commentaries to help you better understand things if you need to. Read financial publications or watch related videos. Finally, read the Bible. It contains helpful information on how to better manage what comes into your hands (as you’ll see below).

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?

LUKe 14:28 (NLT)

2. Live within your means

This may sound basic, but with the messaging we are bombarded with these days, it is worth mentioning. There is nothing wrong with wanting nice things. However, you do not need to over-extend yourself to have them. Many companies now offer payment plans where you can pay later and because of the convenience, people opt for it. Tap into your creative side and you’ll be surprised at how many ways you can re-style the same clothes. If you also think about it, you’d realize that you probably do not need the latest appliance or gadget. 1 Timothy 6:6 says, “But godliness with contentment is great gain.”

On this earth four things
are small but very wise:
Ants, who seem to be feeble,
but store up food all summer long

Proverbs 30:24-25 (CEV)

3. Save

Today, many financial experts will discourage you from saving (storing up cash or accumulating money in a regular savings account). They’ll tell you that returns are very minimal if anything so it’s not worth it. While I appreciate their perspective, I think it may be beneficial for someone who has no experience, to get their feet wet (build the habit). When the habit is built, you can (and should) move on to other things. The Bible teaches that it is wise to set things aside for the future. Proverbs 21:20 (CEV) says, “Be sensible and store up precious treasures—don’t waste them like a fool.”

But divide your investments among many places,
for you do not know what risks might lie ahead.

Ecclesiastes 11:2 (NLT)

4. Invest

Multiplying what you have is a great way to make it last. Investing is one of the ways you can multiply what you have. My goal is not really to tell you where to invest your money, but I will say to ensure you have a diversified portfolio. Do not invest in only one thing. If it seems overwhelming, start small. Set aside a portion of your income on a regular basis and with the information you’ve gathered (point 1), invest it. If one venture doesn’t work out, do not give up on investing altogether!

And I have been a constant example
of how you can help those in need
by working hard.
You should remember the words of the Lord Jesus: 
“It is more blessed to give than to receive”

ACTs of the apostles 20:35 (NLT)

5. Give

It may seem contradictory to the concept of saving, but it isn’t. The act of generosity causes you to shift the focus from yourself to others, and it has been seen to have psychological, emotional, and spiritual benefits. When you give, people are more inclined to give to you as well. This could help you save money you would have spent otherwise. If you are a believer, your giving ought to include tithes and offerings. God promises to bless those who are generous and He is good on His word.

Money that comes easily disappears quickly,
but money that is gathered little by little will grow

Proverbs 13:11 (NCV)

Bonus (money saving) tips

Create a budget and follow it, avoid unnecessary debt, decline to receive promotional emails/texts by either refusing to provide your contact information at stores or opting out of marketing on websites, be honest in your business dealings, and review your subscriptions and cancel unused ones.

Be sure you know how your sheep are doing,
and pay attention to the condition of your cattle.
Riches will not go on forever,
nor do governments go on forever.

Proverbs 27:23-24 (NCV)

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Which financial principles do you live by?

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