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Business and Bible Terms: “Cost”

By Craig Ford 4 Comments - The content of this website often contains affiliate links and I may be compensated if you buy through those links (at no cost to you!). Learn more about how we make money. Last edited February 10, 2014.

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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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Last Edited: 10th February 2014 The content of biblemoneymatters.com is for general information purposes only and does not constitute professional advice. Visitors to biblemoneymatters.com should not act upon the content or information without first seeking appropriate professional advice. In accordance with the latest FTC guidelines, we declare that we have a financial relationship with every company mentioned on this site.

This article is about: Bible Verse, Christianity

About Craig Ford

Craig Ford is a fulltime missionary in Papua New Guinea who writes Money Help For Christians and Help Me Travel Cheap, a frugal family travel blog. He is the author of Money Wisdom From Proverbs, has a Masters of Divinity degree, and (most importantly) eats homemade pizza with his family every Friday night.

Comments

    Share Your Thoughts: Cancel reply

  1. Theresa says

    Concerning the Cost of being a Christian.
    This is a very good article, and I appreciate you writing it and sharing it. Thank you!

    Reply
  2. Kristia says

    Really enjoyed your article. I’m not willing to compromise my faith or family for any dollar amount. My relationship with Christ is priceless. As for my family, they are apart of my daily blessings.
    Kristia´s last blog ..My Grass Is Greener

    Reply
  3. Korwin says

    Thanks for the great article!!

    Reply
  4. Jason Y says

    I find managing time to be more difficult than managing money, yet it is at least as important.

    Considering time costs has led me to do things like:
    -not “shop around” as much for items that cost only a few dollars as I would for something that costs hundreds or thousands of dollars.
    -give things to Goodwill rather than sell on ebay. (I don’t do it just because I’m generous.)

    Reply
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