The Wisdom of Principles: 12 Financial Principles of Stewardship
Just because something is popular or admired doesn't make it good or right. One of the most famous tourist attractions in the world is the Leaning Tower of Pisa. What makes it an interesting attraction is that it was built on a poor foundation, which is causing it to lean to this day. Although it's become famous for tourists, it doesn't change the truth that this is a clear example of failure, what happens when an improper foundation is laid.
Throughout the Bible, we are introduced to financial principles. A principle is similar to a foundation. It is a fundamental truth that serves as the foundation for a system of belief or behavior. God's intent is for these principles [these truths] to guide our beliefs and behavior so that his blessing and favor can flow into our lives.
By consistently implementing principles to our lives, we establish good rules of conduct that will produce the kind of results we hope for and want.
Principles are different than commandments in that they are not divine laws to be observed strictly. Breaking a commandment is a sin leading to spiritual death, like serving other gods, committing murder, stealing, etc. A sinful lifestyle will keep us separated from God, and without repentance, it will ultimately lead us to eternal separation from Him.
Principles are different. Violating a financial principle is not a sin. Taking on debt, co-signing a loan, or investing in a get rich quick scheme will have negative consequences but will not lead to spiritual death and separation from God. Yet, the consistent violation of God's financial principles can have devastating consequences in our lives and can even lead us away from our devotion to God.
Financial principles provide a foundation for our management of money and wealth. Like a foundation is designed to support a structure, these Biblical financial principles are the fundamental truths about money and wealth that will support a healthy and fruitful life.
There are two primary reasons why people don't obey God's financial principles.
1) They have not been taught these principles as they are explained in God's word. It's not that they don't know about debt, co-signing, or investing; it's that they've learned about them from other sources and not from God's word.
2) When violating a financial principle, there's usually an immediate reward and a delayed negative consequence. For example, unwise borrowing to purchase a new car has an immediate reward, driving and enjoying the new car. It is often months later, as the burden of making the monthly payment combined with all other financial responsibilities, that the consequence of that decision is felt.
God's word helps us understand the reward of obeying a financial principle and the consequence of disobeying it. It provides us a vision of the future so we can choose the proper path and experience his blessing. Armed with this knowledge, we can choose to implement these truths as a foundation for our beliefs and behaviors.
Teaching the financial principles found in God's word is the best way to train people to be good stewards and wise money managers. It provides the wisdom for making the right decisions, and more importantly, opens people's eyes to their motivation, the condition of their heart as they manage through financial decisions.
Included below is a list of financial principles found in God's word. This is not an exhaustive list but does address the main principles related to making and managing money. We include them as a resource that you can use to study for yourself and to use them as you teach others.
Giving
Tithing: means one-tenth, and it is the minimum portion that a Christian is to return to the Lord. It is a testimony of God's ownership and a heart test of our commitment to trust in God. (Gen. 14:20, 28:22; Leviticus 27:30-32; Numbers 18:26, 28-29; Deuteronomy 12:6-7, 11, 17, 14:22-29, 26,1-2; Malachi 3:7-11; Matthew 23:23; Luke 11:42; Hebrews 7:1-10).
Offerings: Giving above the tithe often supports those in need and missionary work to spread the gospel. (Exodus 25:5, 21-22, 36:1-7; 2 Corinthians 8 & 9).
Saving - a portion of God's provision today to be stored for future needs. (Proverbs 6:6-8, 21:20; Ecclesiastes 11:2).
Debt - a result of borrowing, something to be avoided if possible, but always required to be paid back, no matter what. (Psalm 37:21; Proverbs 3:27-28, 6:1-5, 22:7; 2 Kings 4:7).
Borrowing - sometimes a result of disobedience. It is not God's best for his people to be borrowers. (Deuteronomy 28:43-45; Psalm 37:21; Proverbs 22:7).
Lending - is made possible by God's abundant provision and the wise management of resources. We are to be righteous lenders. (Deuteronomy 28:12; Exodus 22:25; Matthew 5:42; 2 Thessalonians 3:10-15).
Surety - to deposit a pledge in name, money, goods, or part payment for a greater obligation. A person can be surety for another's debts, insurance can be surety, or an object can be a surety. Surety ensures that if the debt can't be paid according to the original terms, there is something in place to take care of the debt. (Genesis 43:9; Proverbs 6:1-5, 11:15, 17:18, 22:26-27).
Usury - is an excessive or abusive rate of interest (i.e., credit cards and payday loans). God desires that we are righteous in all our actions. If you do lend money to others, then ask the Lord for wisdom related to the interest you charge. (Leviticus 25:35-37; Exodus 22:25; Deuteronomy 15:1, 7-8; 23:19; Psalm 15:5; Matthew 5:42; Luke 6:35).
Work - God created and has a purpose for work in our lives. All work should be done unto the Lord so that when people see us as we work, they literally see Christ through us. What God expects from us is common sense, diligence, and excellence in our work. (Genesis 2:15; Proverbs 10:5, 12:11, 24, 22:29, 27:18; Matthew 5:16; Colossians 3:23; 1 Corinthians 10:31; 1 Peter 2:12).
Financial Integrity/Honesty: God expects complete honesty from his people. We should never allow ourselves to be trapped in anything unethical, immoral, or dishonest. According to God's Word, honesty means telling the whole truth, regardless of how much it costs you. It means revealing the whole truth, even when it isn't necessary. (Leviticus 19:35-36; Proverbs 10:9, 11:3, 12:17, 16:11, 20:10, 22:1, 28:6).
Investing: Investing applies to the management of funds to generate a potential profit. According to Scripture, its primary purpose is to satisfy future needs. Although investing is scriptural, the attitudes surrounding the concepts of investing in our culture often are not. You can never use investing to become self-reliant (no need of God), nor can you reject it as a secular enterprise that we Christians should have nothing to do with. (Ecclesiastes 11:1-2; Proverbs 6:6-8, 21:20; Matthew 25:27)
Budgeting/Planning - a financial plan for managing money and wealth is supported by Scripture and the responsibility of all God's people as stewards. We would never agree to allow a house builder to build our future house without a blueprint, yet many people believe they do not need a financial plan for their life. A budget is a prudent system for planning and managing current and future needs. (Proverbs 16:1, 3, 22:3, 24:3-4, 27, 27:12, 23-24).
Seeking Counsel: In the Scriptures, we are encouraged to seek counsel. However, as we do, we must remember that God teaches us to have balance. As we seek counsel, we must have a true desire to accept and apply God's counsel (Scriptures) to our situation. If our intent in seeking counsel is only "agreement," then we will hunt around until we find someone who will agree with us. If we truly desire to understand God's wisdom for every situation, we must make His Word a filter that every counsel must pass through. (Proverbs 1:1-2, 5, 11:14, 12:15, 13:10, 14:15, 15:22, 24:6)
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