Why Biblical stewardship is a good financial decision

Many are looking for ways to make sound financial decisions, seeking advice from financial advisors, reading numerous books on wealth creation, watching a lot of videos and investing in various schemes. While these approaches may offer valuable insights, there is an ancient source of wisdom that provides timeless financial guidance: the Bible. Biblical stewardship, a concept deeply rooted in scripture, not only aligns with spiritual principles but also presents a solid foundation for making wise financial choices. This post explores why adhering to biblical stewardship is a wise financial decision, supported by teachings from the Bible.

Understanding Biblical stewardship

Biblical stewardship is the management of the resources God has entrusted to us, recognizing that everything we have ultimately belongs to Him. Psalm 24:1 (ESV) states: “The earth is the Lord’s and the fullness thereof, the world and those who dwell therein.” This verse underlines the idea that all resources—time, talents, money and even the environment—belong to God, and we are merely stewards of His blessings. As stewards, we are called to manage these resources wisely, using them in ways that honor God and align with His purposes.

Biblical stewardship encourages wise spending

One of the key aspects of biblical stewardship is wisdom in spending. The Bible consistently advocates for a life of contentment and warns against the dangers of materialism and overspending. Proverbs 21:20 (ESV) teaches: “Precious treasure and oil are in a wise man’s dwelling, but a foolish man devours it.” This proverb encourages us to be prudent with our resources, saving and using them judiciously instead of indulging in unnecessary expenses. By following this principle, individuals can avoid debt traps and financial instability, building a foundation of security and peace.

Saving for the future

Another fundamental aspect of biblical stewardship is the encouragement to save for the future. Proverbs 6:6-8 (ESV) says, “Go to the ant, O sluggard; consider her ways, and be wise. Without having any chief, officer, or ruler, she prepares her bread in summer and gathers her food in harvest.” The ant’s example teaches the importance of planning and preparing for times of need. Saving is a crucial element of financial planning, providing a safety net during emergencies and ensuring long-term security. By adopting this biblical principle, individuals and families can avoid the anxiety associated with financial uncertainties and be better prepared for the future.

Generosity and giving

Biblical stewardship also involves generosity, a principle that paradoxically leads to greater financial stability. Proverbs 11:24-25 (ESV) states: “One gives freely, yet grows all the richer; another withholds what he should give, and only suffers want. Whoever brings blessing will be enriched, and one who waters will himself be watered.” Generosity fosters a mindset of abundance rather than scarcity, creating a cycle of blessing. When individuals practice generosity, they not only help others but also develop a heart that is free from the clutches of greed and selfishness. This act of giving cultivates community and strengthens social bonds, which can be invaluable during times of need.

Trust in God’s provision

Financial anxiety is a common struggle, often fueled by uncertainty about the future. However, biblical stewardship teaches us to trust in God’s provision. Matthew 6:31-33 (ESV) says: “Therefore do not be anxious, saying, ‘What shall we eat?’ or ‘What shall we drink?’ or ‘What shall we wear?’ For the Gentiles seek after all these things, and your heavenly Father knows that you need them all. But seek first the Kingdom of God and His righteousness, and all these things will be added to you.” By trusting in God’s provision and prioritizing His kingdom, individuals can find peace amidst financial challenges, knowing that God is faithful to provide for their needs.

Debt-free living

Living within one’s means and avoiding unnecessary debt is a principle highly endorsed by biblical stewardship. Proverbs 22:7 (ESV) notes: “The rich rule over the poor, and the borrower is the slave of the lender.” Debt can be a significant source of stress and limit one’s financial freedom. By avoiding debt, individuals can live more freely, without the burden of constant financial obligations. This principle also promotes a lifestyle of contentment, emphasizing the importance of being satisfied with what one has rather than continually striving for more.

Align financial goals with God’s purposes

Finally, Biblical stewardship aligns personal financial goals with God’s purposes. It encourages individuals to consider how their financial decisions impact their spiritual lives and the lives of others. Colossians 3:23-24 (ESV) says: “Whatever you do, work heartily, as for the Lord and not for men, knowing that from the Lord you will receive the inheritance as your reward. You are serving the Lord Christ.” This perspective shifts the focus from personal gain to service, encouraging a sense of purpose and fulfillment that goes beyond mere wealth accumulation.

Biblical stewardship is more than just a financial strategy; it is a holistic approach to managing life’s resources in a way that honors God and blesses others. By embracing the principles of stewardship, individuals can make sound financial decisions that lead to lasting peace and security. The wisdom of biblical stewardship transcends time, offering valuable guidance for anyone seeking to navigate the complexities of financial life with integrity and faith.

Get great financial ideas and join me and my friends Rex Mendoza, Dennis Sy and Garett Maralit at Money By The Book Conference this Sept. 21. Details at https://randelltiongson.com/money-by-the-book-conference-2024/

Randell Tiongson is a registered financial planner at RFP Philippines. To learn more about financial planning, attend the 109th RFP program this October 2024. Email info@rfp.ph or visit rfp.ph.