This is a guest post from Debt Free Hispanic over at http://www.debtfreehispanic.com. You can read more of his inspiring posts by checking out his site, or subscribing to his RSS feed here.

Remember this: Whoever sows sparingly will also reap sparingly, and whoever sows generously will also reap generously. 2 Corinthians 9:6 (NIV)

Today, I’m Debt Free Hispanic, but in 2005 I was just a Hispanic that had $20,000 of debt.

Building A FICO Score And Piling Up Debt

How did this happen?

The same way it happened to so many Americans. I fell into a trap and believed the myth that buying on credit was what wealthy people did and I wanted to be just like them. I tried so hard to rack up credit so that I wasn’t a ghost in the credit industry. It’s true, I went into a CarMax dealership to purchase a vehicle.   After putting down a large down payment  I couldn’t get a loan for the remaining balance of the car because as the guy running my credit put it, I was a “ghost” in the system.  I didn’t have enough credit history out there to show that I would pay the money back. This is called a credit rating and a FICO score. After that day I decided to buy as much as I could to bring my score up.

I figured since I was attending college and I didn’t have the finances to pay for it that I would put my school tuition from a private University on school loans through Wells Fargo and that would bring my credit rating up. I had a Mitsubishi Galant and one day after school I noticed I was missing a hubcap. Well I couldn’t drive around like that so I went to Discount Tires and bought new alloy rims and tires on credit. By this time I was $20,000 in debt and was about to finish college and was working 20hrs/week making $6/hour. This was not a fun time in my life.

Getting A Wake-Up Call

One day reality set in when my minimum payments were not paying down the balance and the opposite was happening, the balance was growing every month. During a Thanksgiving dinner my brother told me about a guy named Dave Ramsey. After listening to the show, I purchased his book on CD and listened to it within two days.  I’ve since listened to the book about 10 times and next year (2010) I will attend my 4th Total Money Makeover Live Event here in Dallas, TX.

After listening to the book for the first time, I was determined to get out of debt. I was hungry for financial discipline and for somebody to set me straight. I am also a Believer and the scriptures about the rich ruling over the poor and how the borrower is slave to the lender made me madder about debt. I told myself I was no longer going to be a slave and little by little I loosened the chains that the banks have put on me.

From then on every month I gave my wife (girlfriend at the time) a number that was the key to unlock my chains. The first number was $20,000. I sold almost everything I had on eBay, baseball jerseys, textbooks, clothes; you name it I sold it. I sold so much stuff on eBay they sent me a certificate for selling at least $2,000 consistently for 2-3 months.

The key number was getting lower and lower and I was starting to pay off my debts. $16,000 became $14,000 the next month. Then, after graduating college, I received a full-time job and with my first month of pay, I paid off $3,000. Every month I was paying off $2,000 from my school debt. Within a year I paid off $20,000 of debt. I remember emailing my wife when the key number was $0 and my chains were gone, I had been set free.

I called Wells Fargo and asked that all my accounts be closed and to send me proof in writing that they had been. Within two weeks I received 10 notes from banks saying that my accounts had been paid in full and that they were now closed.

I did it.

I became debt free and from then on, I knew I was going to change my family tree and I was going to help other people do the same.

Building Wealth And Living Debt Free

The next year I started building wealth like no other time in my life. I had four roommates and my monthly rent was $350, bills included. For a bachelor wanting to build wealth, this was very encouraging. I saved up and bought a HUD home in November 2006 and spend $4K fixing it. Two month later I bought an engagement ring and ask my girlfriend to marry me.  Her dad said he would let me marry her when the ring was paid off.   After showing him the receipt we began making wedding plans.

Today my wife is working towards a PhD in Organizational leadership and we are paying cash for her school expenses. I graduated from grad school with a Masters in Management, a degree that was paid for this time in cash. We now use cash to do whatever we want to do in life because at one point in our lives, we were living like no one else. Our story has just begun and I’m glad that my wife and I started out debt free. Her debt was only $1,000 so that was paid off right away. We each put 15% of our income in 403b’s and Roth IRA’s.

I now write about money on Debt Free Hispanic (http://www.debtfreehispanic.com). This is a blog about personal finance from a Hispanic perspective. It is in English, although many people associate the word Hispanic and assume Spanish speaking. I write about ways to save money and pay down debt. Since our income will make us wealthy, I talk about how to free it up by paying down personal debt. I am also frugal in my thinking and I like to share my ideas with my readers. I’m a Dave Ramsey fan and my wife and I were able to scream “I’M DEBT FREEEEEEEE” on his show. You can hear the call on my blog.   Click Here To Hear The MP3

Join me in becoming debt free and the good stewards that God intended us to be.

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This Blogger Fell Into The FICO Trap, But Saw The Light And Became Debt Free

This is a guest post from Brad over at EnemyOfDebt.com. Read some more of his great posts at his site, or subscribe to his RSS feed.

It is God who is at work in you, both to will and to work for His good pleasure.-Philippians 2:13

I once was an angry atheist—who surrounded myself with negative people that believed the same sort of things I did—pro-evolution, no god, no purpose, you just live and die, end of story. I would like to add that I wasn’t quite as angry towards Christians themselves, just what they believed. To be honest, I was lost and was missing something huge but I just didn’t know what that something was. Little did I know.

In 2002, I met my wife and we became really good friends. She was a Christian, and even though our views were so different, she saw something in me that I did not. I started working with her dad remodeling houses and it wasn’t long before we started talking about religion. I had accumulated a vast list of misconceptions about Christianity over the years that fed into my broken worldview. He probed as delicately and as patiently as he could until I finally started to open up, and we talked about them. His role was much more difficult than mine, as he had to set aside personal issues—after all I was by this time dating his daughter. One of my favorite parts to this story is that he accepted me anyway—a misconception that I had developed about Christians was immediately debunked at that moment, which left me confused.

So I was no longer antagonistic towards Christians, although I still didn’t buy into the whole Christian faith. Our conversations, while polite and positive in nature, led me to want to look into this a little closer. The only thing was that I decided to look into it with my sole purpose being to prove Christianity wrong. I started with the evolution and creation debate and I started to slowly realize I could be wrong. At the time that was a very life shattering realization, but it seemed as though it required more faith to believe in evolution and no god than it did to believe in Jesus Christ and Christianity. I pressed on.

I then became interested in philosophy to a point where I would read books by C.S. Lewis (Mere Christianity, The Seeing Eye) and Ravi Zacharias (Among Other Gods, Cries of the Heart). These two people turned my world upside down, at least enough to encourage me to want to learn more. It was then that I found a book by Lee Strobel called The Case For Christ, that hit me like a ton of bricks. First of all this guy seemed a lot like me. He didn’t believe, was convinced evolution was fact, and had the same negative reactions to Christianity that I did. He actually decided to use his background in journalism to disprove Christianity. I must mention that it was his wife becoming a Christian in secret that led him down this path to prove to her—she was following a fairy tale.

I started to read that book and I was pulled right in. I read the book faster than any other book ever in my life. That book led me to The Case For A Creator, and The Case For Faith, and it was then at that point that I realized—I believed in God. This was a very emotional experience unlike anything I had ever experienced before. It was as if God reached down and touched my heart like no one else could. The change was instantaneous, but you could say that I had been a work in progress. It was at that powerful moment that I believed that Jesus Christ had died for my sins. I called my father-in-law immediately.

In 2004 I joined my church and finally considered myself to be a Christian. What a huge shift in beliefs I had experienced. WOW! I could have never predicted it in a million years but am glad to this day that I decided to look into it for myself. I was baptized on December 10th of 2006 with my son, which was an emotional day for me as well. Just like Lee Strobel, my desire to disprove God led me to Him. How ironic.

Today I am very blessed with a beautiful wife, 2 kids, with another on the way. I have recently become debt free, by paying off 26,076.75 in 20 months. God has changed my life and given me purpose, which is to help others also become debt free. After all a debt free kingdom is a more charitable and giving kingdom. I am so passionate about this, and the truth be told, this passion really came out of nowhere. It was non-existent, and then all of a sudden it was bigger than words. My desire to help others manage their finances led me to introducing and leading Financial Peace University at my church, as well as starting my blog, Enemy of Debt. I am currently working to become a certified financial counselor as my vocation. Before I believed in God, it seemed as though I was always more concerned with myself. Now my life’s purpose is to serve Him by serving others. I have recently become a part of a new website called The Self Reliance Exchange where I hope to expand upon my ability to help others live debt free by helping them take responsibility for their finances, as well as their lives.

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How God Worked In The Life Of One Debt Free Blogger: A Testimonial

This post requires a delicate balancing act.  I am a missionary who works overseas and 100% of my salary comes from freewill offerings that people give to their local churches.  My family is supported completely by the generosity of others. I am grateful for each and every one of those gifts.  From May – August 2009 my family visited churches all across Canada and the United States.  Time and time again we were recipients of the generosity of others.  Without asking, people literally gave us hundreds of dollars.  For that I am appreciative and humble.

Nevertheless, the entire time a question kept surfacing in my mind – what is the difference between being wealthy and being generous? Schools that receive large gifts thank donors for their generous gifts.  Churches congratulate congregations for their generosity when they reach a goal on a special fund raising project.  Living amongst the world’s poor, I have seen a woman take a bowl of rice and give it to a neighbor.  And no one applauds that action.  The gift is not considered noteworthy because it is lacking a large number of zeros.  Often it is really only the rich who have the opportunity to be ‘generous’ in the eyes of many.  Unfortunately, I forget to recognize that the bowl of rice is an exceedingly more generous gift than a multitude of dollars.

We might say things like – Bill Gates is such a generous man because he has given however many billion dollars to charity.  Yet, rarely will we say that a poor person was so generous because she gave a coat to a friend. Generosity is not determined by a dollar amount. Instead generosity is determined by the level of sacrifice. I want to continue to receive gifts from wealthy people because I want to continue to eat .  On the other hand, I want to recognize the smaller financial gifts and regard them also as an equally generous act.

This begs the question: How do you know if someone is generous or just wealthy?

Fortunately, the Bible releases each of us from being the judge on the matter.  We are released from the responsibility of judging others, but instead the question is: am I generous or just wealthy?  This is the question God places on each of our consciences.

“Why do you look at the speck of sawdust in your brother’s eye and pay no attention to the plank in your own eye? How can you say to your brother, ‘Let me take the speck out of your eye,’ when all the time there is a plank in your own eye? You hypocrite, first take the plank out of your own eye, and then you will see clearly to remove the speck from your brother’s eye. (Matthew 7:3-5 NIV)

Ultimately, there is no point in my asking if Bill Gates is really generous or just wealthy.  There is little functional value for me question if a person’s action was generous or just their wealthy overflow.  But, man, I will get a lot of useful insight if I ask myself am I generous or just wealthy?  I pray that God will help you to be both wealthy and generous.

What are some of the most generous things you have experienced?  How do you resolve the generous or just wealthy question?

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Are You Wealthy or Generous?

The dollar is a currency.  Each and every country of the world has an accepted currency.  A currency has no value in and of itself.  It only has value as a group if people (1) recognize, and (2) accept its value.  For example, I might have $1,000 U.S.  But when I am in Papua New Guinea that money is of little value to the local people because it is not accepted in stores.  Because the US dollar cannot be exchanged for food products there, it is of no value.  It only becomes valuable when exchanged into the local currency, the PNG Kina (used in Papua New Guinea).

That is a roundabout way to introduce the fact that in life we have access to many currencies.  A currency is anything we have that can be exchanged in order to receive something.  A company will set a price for products they wish to sell.  When purchasing an item the customer wants to know the cost because they are aware of the fact that they must give something in exchange for the item in question.

Budgeting Implications

When we budget we tend to have tunnel vision.  We think of cost only in terms of dollars.  We do not account for all the other currencies.  But, things we get have other costs too – convenience, time, anxiety, and worry.  I could buy a pair of scissors to cut my grass, but the convenience and time exchange would not make the product worth my few dollars.  Instead, it might be better to spend more money and get a convenience and time saver.

Ethical Implications

Sure, I might be able to make a little extra money this year by lying to you about my product.  What that transaction costs me was the currency of integrity.  There should not be circumstances where your beliefs are exchanged to get something.  You integrity should always remain intact when you want to get something.  Always choose to pay the currency of money over and above the currency of integrity.

Spiritual Implications

The NIV subtitle above Luke 14:25 says “The Cost of Following Jesus”.  So if I want to follow Jesus I just need to find out how much he charges?  Would 10 silver coins be sufficient?  Immediately, it becomes obvious when Jesus is speaking of cost that he is referring to a currency other than money.

“Suppose one of you wants to build a tower. Will he not first sit down and estimate the cost to see if he has enough money to complete it? (Luke 14:28 NIV)

What does it cost to follow Jesus?

There may be a relational cost – family, friends, people you work with.

There may be a thinking cost – what you think is best, what you can do, how you think about others.

There may be a commitment cost – to family, church, job, plans, others.

There may be an action cost – how you pray, give, serve.

There may be a belief cost – what you believe about God, his purposes, his ways, your relationship to him.

What are some of the ‘currencies’ in your life that you will not sell for money?  What currencies do you value more than you value money?

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Business and Bible Terms: “Cost”

“He who is kind to the poor lends to the Lord, and he will reward him for what he has done”.  Proverbs 19:17

“He who gives to the poor will lack nothing, but he who closes his eyes to them receives many curses”.  Proverbs 28:27

“Speak up for those who cannot speak for themselves, for the rights of all who are destitute. Speak up and judge fairly; defend the rights of the poor and needy.” Proverbs 31:8-9

Many of us would like to help the poor.  Christians are frequently called to help the poor.  However, our difficulty is in answering the ‘what’ question – what is the best way for me to help the poor?
Many times we think that generosity is the key to helping people.  However, I believe that generosity coupled with discernment is essential.  This post is a guide to those who are generous and want to be sure that their ‘helping’ is helping.

Here are ten things to keep in mind when you’re involved in a helping ministry:

1. Helping is about what is best, not what is easiest. There are occasions where giving something is the easiest action.  Unfortunately, many of those quick solutions have devastating long-term effects.  Force yourself to do what is right, not just what is easy.
2. Helping requires creativity, time, and energy. Often situations need to change before money will be of any value.  That change only happens with a huge investment of resources other than money.
3. Helping involves a lifelong commitment to reconsidering alternative efforts. No matter how good your intentions are (or how rich you are) you cannot solve someone’s poverty issues in a moment.
4. Helping demands prayerful dependence on the wisdom of God. Any of you who are directly involved in a benevolence ministry know that there are so many roadblocks and challenges along the way.  Often times you are divided in your heart about which way is right.  James 1:5 encourages us to ask God to give us the necessary wisdom.
5. Helping means moving beyond ourselves and our cultural upbringing. Ron Sider, who is a strong advocate for the inner city poor, has taught me (through his books) to ask the question, “how does/will this impact the poor?”  We should ask that question when discussing our family habits, our church programs, and our government policies.
6. Helping always follows a change of heart and attitude. Many middle-class people have assumptions about the poor.  There is a strong feeling that the rich are rich because of effort and the poor are poor because of laziness – no exceptions.  When our hearts are hard towards the poor, our actions will also be equally cold.
7. Helping requires you to learn a story. Your assumptions about the world’s poor cannot be eradicated until you first listen to ‘their’ story.  ‘Their’ story is not one unified story, but a combined story of many individuals.  Sit with the poor, ask, and then listen.
8. Helping is an embodiment of the ministry of Jesus Christ. God has a heart for all people.  The poor are no exception.  How we minister to the poor is a sermon we preach.  For our sakes Jesus became poor.
9. Helping offers a voice to and speaks for the poor. One of the tragedies of poverty is the lack of voice.  No one listens.  Often, the poor have no voice.  No one is willing to speak of the desires, dreams, frustrations, and concerns of the poor.
10. Helping is about you, not me. Helping does bring a rewarding feeling, but we need to help because of the needs of another, not our own insecurity or need.  When helping is about ‘you’ I am more likely to be able to reach out to you and your need.

Your first step:

Many of these ten items point to the necessity of being in the midst of the poor.  There are many church and other non-profit organizations that have ministries to the poor.  If you are not currently involved, you could volunteer.  Through your involvement you will come to know the situations and challenges of the poor.  In your conversations you will change, and your views might also change.  Your money will be of better use to the poor when you better understand the situation of the poor.

What else do you think we need to keep in mind when it comes to helping?

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Ten Ways To Be Sure Helping Is Helping

This article is provided by Jason Price at One Money Design. Jason is a Money Map Coach and has a personal finance blog that is all about managing money wisely for everyday living. He believes there is financial hope for people. He has a passion to see people prosper, become debt free, and experience financial freedom.

No matter the stage of life you’re in today, you’ve probably said to yourself,

“If only I would have known about (fill in the blank) 10 years ago my life would be different today.”

I think we’ve all said or thought that at one time or another. For many of us it’s about money and the decisions we’ve made managing it. In today’s economy we might often hear people say,

“if only I would have known to build emergency savings as a top priority when I finished school, I might not be accumulating so much debt today because of my job loss”.

Sure, sometimes it’s not about money. Sometimes, we talk about family and relationships and the lack of time spent with them, wishing things could be different today.

I heard a pastor once speak about his visits to a local hospital to encourage people with terminal illnesses. It’s interesting to know that no one he spoke or prayed with talked about their career accomplishments, cars, or other possessions in their final days. Instead, he said they always talk about their faith in God, family and relationships as the most important areas in their lives.

Most Christians would agree that faith in God and our relationship with Him is the top priority in life. Putting God first positions us to have a blessed marriage and other relationships because they are based on His solid foundation.

And so by putting God first, we can better understand the importance of living our lives from a Heaven backwards perspective (sometimes referred to as living with an eternal perspective). Of course it’s not easy to consistently live with this perspective on life, but it’s what we have to strive for as Christians to keep our priorities straight.

Living From A Heaven Backwards Perspective

Imagine if all of the sudden peoples’ decisions with money management were from a Heaven backwards perspective. People would certainly make different choices with how they make, spend, save and give it. They could begin to see money as a delicate blessing which we are all to manage wisely for prosperity as well as for the good of others.

Managing money from heaven backwards requires doing a few things that might cause some to raise a brow or advise against, but essential to live from this perspective.

Consider the below Manage Money from Heaven backwards Checklist to see what perspective you’re using to manage your money:

• Do you recognize God as the owner of all things and you are the manager of what has been entrusted to your care?
• Do you spend wisely by having a spending plan every month?
• Do you strive to live debt free? This includes spending money based on what one can afford (according to your plan) versus the amount of credit which may be available.
• Do you give of your first fruits by tithing? Ultimately, it’s God’s money and through this action, you are trusting in God with your financial prosperity, i.e., there is no more a reason to “get rich” because God is in control.
• Do you give back to others by sharing success stories and helping people know what it means to manage money from Heaven backwards?

If you can only say yes to 3 you may need to consider seeking counsel from other Christians or a financial counselor to identify specific action steps for your situation.

Many may define financial freedom as becoming debt free or getting into a position to where there is no more dependence on income from a job. However, the act of managing money from Heaven backwards is financial freedom.

What are some other ways we can manage money from Heaven backwards? Consider providing your input to add to this checklist. Leave us a note in the comments!

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Manage Money By Living From Heaven Backwards

This past week at our church one of the pastors gave a sermon on wealth, the corrupting power that it can have, and how to avoid becoming materialistic with your money and possesions.  I  thought I would share some of the things he talked about.

The sermon was based off of a verse in James.

Now listen, you rich people, weep and wail because of the misery that is coming upon you. Your wealth has rotted, and moths have eaten your clothes. Your gold and silver are corroded. Their corrosion will testify against you and eat your flesh like fire. You have hoarded wealth in the last days. Look! The wages you failed to pay the workmen who mowed your fields are crying out against you. The cries of the harvesters have reached the ears of the Lord Almighty. You have lived on earth in luxury and self-indulgence. You have fattened yourselves in the day of slaughter. You have condemned and murdered innocent men, who were not opposing you.  James 5:1-6

Wealth, Corruption And Materialism

The verse above was a warning by James to rich people in ancient times who were corrupt, self indulgent and who took advantage of those around them in  a variety of ways.  They seem like they were pretty bad guys.   But don’t sit back and relax if you’re not rich.   I don’t think the warnings found in this passage were meant only for the rich.  They were meant for anyone who has the wrong attitude about money, and how to obtain it.

Having nothing doesn’t make you more spiritual and having a lot doesn’t mean one is materialistic.  Your attitude about what you have is what is important. – Pastor Troy Dobbs

Too often many of us see the blessings of God in our life as the end goal.  We want to live a easy life filled with all the wonderful things that God can provide.

God isn’t here to serve us though.  We’re here to serve him, to  glorify him and to point to way to the cross.  Our end goal should be to further His kingdom, and bring others to Christ, not to see how many blessings we can pile up and use for our own benefit.

So the question is, when Christ and cash come in conflict who wins?

Warning Signs Of Materialism

Becoming materialistic doesn’t happen overnight, and there are warning signs that you may be focusing on the wrong things.  Here are a few that are mentioned in James 5.

• Sin of hoarding:  Is your accumulation of money and possessions tied to a legitimate biblical need? Or do you just have a need to have more?  Are you accumulating because you have a need to display your wealth?
• Sin of exploitation:   Are you using people to get what you want?  Are you cheating others or being dishonest?   God takes dishonest business dealings very seriously.  God notices the things going on in our current economy.  God sees all and takes care of his own. Trust in him and he will take care of you if you’ve been taken advantage of.
• Sin of self indulgence: God can be an afterthought or source of your greatest joy. Are you trying to find happiness elsewhere, or through Christ?  Don’t think just because you have a lot of stuff that you’ll avoid paying for your sins in the end.
• Sin of perverting justice:  God hears the cries of the unjustly accused and condemned.  God sees and the unjust will pay the price one day.

Want to avoid being materialistic?  Avoid the sins listed above.

It’s ok to provide for your family and to save for the future, but sometimes people only accumulate things for the wrong reasons. Be more giving, with what you’ve been given and be a good steward.  Be conscientious in how you earn your money, and look towards Christ for fulfillment, not to things or activities.

Think about the end because it will help you live in the now.

Are you sure that you know him? (If not, please read this article)

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The Corrupting Power Of Wealth: Warning Signs Of Materialism

This article is a guest post written by Jay Peroni, CFP®, who is a public speaker, registered christian financial advisor, and author of The Faith-Based Millionaire.  Jay’s passion is to help people understand the importance of Faith-Based Investing.  You can find out more at JayPeroni.com

What Does the Bible Have to Do with Finances?

The Bible is very clear about how we should handle our finances. God wants to abundantly bless those who obey His Word in this all-important area. Why do you think there are more than twenty-three hundred verses in the Bible about money? Is it a coincidence?

I am convinced that the majority of financial problems facing Americans today are the result of a failure to obey God’s provision of guidelines concerning how He wants us to manage the money He entrusts to us. This failure in turn limits His ability to bless us financially.

As a parent, do you reward your children for foolish behavior or do you sometimes allow them to endure pain so they will learn lessons? God uses money to teach us lessons in life. Jesus spent a considerable amount of time addressing finances in His teaching because He knew that how we handle money reveals our values and priorities.

Do your values reflect the world’s priorities?

Let me ask you an important question: How do you feel about the moral direction of our country? Are you saddened by any of the items on the following list?

• The rising number of abortion clinics and facilities
• The increased activity of “pro-abortion” activist groups
• The shady, deceptive practices being used by the pornography industry
• The number of deaths caused by the tobacco industry
• The number of families being torn apart by addictions ranging from alcohol and drugs to gambling
• The promotion of homosexuality

If any of these issues deeply sadden you, think of how God must view His creation being destroyed by these issues. It breaks His heart. If Jesus were an investor today, would He place money in any company involved in those areas? Would He choose to start a business of His own that was involved in any of these areas?

The answer to both questions is an emphatic no, but you may be unknowingly profiting from these industries.  God has entrusted you with His resources, and it is your duty to be a wise and faithful manager of the assets He has provided you. In order to do this, you will need to follow biblical principles. As a Christian and an investor, it is more important how you make your money than how much money you make.

There is no doubt that sinful activities can be extremely profitable, but if you can invest in a manner that avoids industries that blatantly oppose God’s Word and still make a good profit, why would you choose any other way? Do you think God is more concerned about the amount of money you earn or the manner in which you earn it? How we invest money is a true measure of the values we hold dearly. If we stray from God’s values should we really be surprised when things fall apart?

The World vs. the Word

You may be confused as to how to manage your money simply because you have taken the world’s advice. You may have formed your financial habits from the actions and advice of your parents, friends, school, and the media. How successful has that been for you? For many, the approach is simply not working. Why are so many failing?

When we have an educational system in America that does very little to teach people the basics of financial management, a church that shies away from financial discussions, and an abundance of confusing, contradictory messages from the media and so-called experts, it is no surprise the average Christian is confused about where to turn for advice!

Choosing the world’s way of handling finances over God’s way is a recipe for disaster. Fear and greed are the motivating advice being sold by much of Wall Street. This advice can lead to financial ruin. Many become so confused that they choose to go it alone and rely on the banks to tell them what they can and cannot afford. They may choose to make financial decisions based on the latest advice in Money magazine, on the radio or TV, or their coworkers’ suggestions.

Rather than knowing for themselves where they stand financially, they listen to bad advice. Hosea 4:6 reads, “My people are destroyed for lack of knowledge” (NIV). The majority of people have no financial plan or have built their plan on the ways of the world. If what we’ve been doing so far it isn’t working, we need to change direction. Change begins with looking at God’s Word.

BIBLICAL WISDOM ON INVESTING

On diversifying: “Give a portion to seven, or even to eight, for you know not what disaster may happen on earth” (Ecclesiastes 11:2 ESV).

On seeking advice: “Without counsel plans fail, but with many advisers they succeed” (Proverbs 15:22 ESV).

On being steady, patient, diligent, and faithful: “The plans of the diligent lead surely to abundance, but everyone who is hasty comes only to poverty” (Proverbs 21:5 ESV); and “A faithful man will abound with blessings, but whoever hastens to be rich will not go unpunished” (Proverbs 28:20 ESV).

On screening your investments: “You must not bring the earnings of a female prostitute or of a male prostitute into the house of the LORD your God to pay any vow, because the LORD your God detests them both” (Deuteronomy 23:18 NIV).

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What Does The Bible Have To Do With Finances?

“Which of you, if his son asks for bread, will give him a stone? Or if he asks for a fish, will give him a snake? If you, then, though you are evil, know how to give good gifts to your children, how much more will your Father in heaven give good gifts to those who ask him! So in everything, do to others what you would have them do to you, for this sums up the Law and the Prophets.  Matthew 7:9-12

This verse to me talks about how much our heavenly father cares for us, and how he wants to lavish is gifts upon us, if we’ll only ask.  Don’t be afraid to ask God for things in prayer, because often he’ll be willing give to you generously.

In addition to asking God for thing in prayer, always be on the lookout for ways to help others, and to treat them with care and respect, as you would want to be treated.   If you can do that you’ll be on your way to treating others as Jesus would.

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Personal Finance Bible Verse Of The Day: Do To Others

Owe nothing to anyone except to love one another; for he who loves his neighbor has fulfilled the law. Romans 13:8

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Personal Finance Bible Verse Of The Day: Owe Nothing But Love