In this age of incredible advancement in science and technology, we've become used to looking to the future for the next big thing, the breakthrough idea, or the answer to all our current problems. While it's true that many exciting discoveries are just around the corner, I think it's also important to look back and remember the wisdom that has come before us. Tested through time, many of these principles are just as valuable today as they were to our ancestors.
Chief among these is the wisdom found in the Bible. As Qualified Kingdom Advisors, both my daughter Christina Lindsey Orta (who recently joined Lindsey & Lindsey as Vice President) and myself are proud to integrate biblical principles into our practice. It's another tool in our toolkit that helps us serve our clients at our best every day. Here are some gems from scripture that I find especially helpful.
5 Biblical Principles That Lead To Financial Success
Adapted from the Kingdom Advisors Core Values
1. Spend Less Than You Earn
"Wealth gained hastily will dwindle, but whoever gathers little by little will increase it." (Proverbs 13:11)
While this advice is sound across the centuries, it may be harder to follow today. The demands of our increasingly complicated lives put pressure on our finances, and temptation to overspend is only a click away. The digitization of our finances can make it seem easier to get by without making a budget, but it's more important than ever to diligently track expenses to keep from living beyond our means, and make sure there's some left over for the future.
2. Avoid The Use of Debt
"The borrower is the slave of the lender." (Proverbs 22:7)
The Bible indicates that debt is a form of bondage, which is to be avoided, and living debt-free is a vital component of maintaining financial freedom. Credit cards are a convenient way to avoid carrying lots of cash, but should be used properly within the scope of your budget. Pay your balance off on time and in full each month to avoid fees and interest. Once you've spent the amount your budget allows, leave your card at home.
3. Build Liquidity
"Go to the ant, O sluggard; consider her ways... she prepares her bread in summer and gathers her food in harvest." (Proverbs 6:6-8)
While making strategic investments is vital to building wealth, also consider the liquidity of these assets when making decisions. The ant in Proverbs prepares herself for lean times by storing up her food, so that when winter comes she won't go hungry. If her food source isn't available to her when she needs it, she's in trouble. With the volatility of today's financial markets, it's smart to keep the liquidity of your assets in mind so you aren't left hungry due to unforeseen circumstances.
4. Set Long-Term Goals
"I press on toward the goal for the prize of the upward call of God in Christ Jesus." (Philippians 3:14)
This is useful advice that I'll be discussing in more detail on the blog soon. I can't stress enough how effective goal-setting impacts financial choices and creates positive outcomes in the long run. Working towards a goal helps us make intentional financial decisions and stay accountable to ourselves. And remember, the ultimate goal is not just to create wealth, but to have the financial freedom to live a meaningful and beneficial life.
5. Believe That God Owns It All
"The earth is the Lord's, and everything in it, the world, and all who live in it." (Psalms 24:1)
The Bible teaches us that we are the stewards of the earth, and stewardship requires us to make caring decisions that take into account the future benefit of our actions today. The financial decisions we make impact our families and broader community, so always consider how we can best be stewards for them. This mindset helps us consider the long-term effects of our choices, and not to take our responsibilities lightly.
At Lindsey & Lindsey, we believe there is great value and positive impact for modern financial fitness to be found in this treasure-trove of truth and wisdom. Our faith is an important part of our lives and our work. How does your faith help you live a successful and meaningful life?
Tweet us @Lindsey2Wealth to join in the conversation!