What Does the Bible Say About Money? 9 Helpful Money Lessons

1. The 20% rule

In the story of Joseph, he interprets a dream in which there will be seven years of plenty followed by seven years of famine.

To prepare, he recommends to the king that they put away one fifth of everything that they gain every single year, so they can get through the famine afterwards with the food stored. This is what helps the nation prosper.

This is a great savings rate and a great way to start up an emergency fund. There are amazing times in the market and then there are economic crashes and people get into debt, so a 20% savings rate is an amazing place to start.

It even fits into the 50/30/20 rule, which is a super popular model recommended by many financial coaches today.

2. Become a minimalist

Of course, the Bible does not refer to it as “minimalism”, but the idea is definitely there. The Bible condemns being greedy and jealous of what other people have. It also says that a person's true life is not made up of the things he owns, no matter how rich he may be.

You cannot take your money with you, and it does not define your happiness or your self-worth. These are all principles of minimalism and frugal living – instead of chasing the newest cars and the fanciest stuff, you should be content with what you have.

Even though enjoying your life and having money is not a bad thing, you should not get pulled into that whirlwind of consumerism, as only caring about being rich does not lead to a happy and fulfilled life.

3. Debt can ruin your life

Even though under certain circumstances taking loans may make sense, the Bible says that the borrower will be a slave to the lender.

That is literally what we are seeing right now with high interest consumer debt: people take payday loans to buy stuff that they cannot afford, and then go to work in order to pay it off, basically trading their life for stuff.

There are 30% interests out there, which truly does turn a person into a slave. We need to absolutely avoid any type of high-interest consumer debt.

4. If you want money, work for it

The Bible talks about somebody being too lazy to take their hand out of the dish and feed themselves. The same applies to money: nobody is truly wealthy without putting in the work.

Even if you win the lottery or you inherit it, it is not going to teach you the financial principles or build character that you need to know to truly benefit from that money. It is never going to be as satisfying as when you look back at your hard day’s work and you have something to show for it.

I believe that we were made for work. Many people have a hard time in retirement, and the statistics say people who retire earlier die earlier. I think this is because we lose our purpose and our sense of accomplishment.

I used to have a goal of retiring at age 30, but I do not want that anymore. I still want freedom to spend time with my family and not be working 24/7 but I always want to have something that I can work on and produce.

5. Hard work brings riches

Many people think that there is something wrong with being rich. Just because you are rich does not mean that you have taken advantage of somebody or that you are somehow cheating the system. It is not a bad thing to work hard, which is what we were designed for, and then reap the rewards of that hard work.

6. Diversify your portfolio

I am not joking, it is in the Bible. “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth”. It is pretty clear that this verse is telling you to be smart about managing your money and to diversify your portfolio.

Do not rely solely on real estate, or stocks, or Apple. You never know when there will be a giant housing crash, or when the stock markets will drop 50%. We do not know what the future holds, so never put your eggs in one basket.

7. Do not love money

Contrary to popular belief, according to the Bible, it is not money that is the root of all evil, but excessive love for money. Money in itself is not a bad thing; it is what the world has operated on since forever.

However, it is when you care more about money than your family, your relationships or your faith, that your life inevitably gets ruined. There are people all over the world that have millions of dollars and they are depressed and suicidal.

They have everything they could ever want in terms of material possessions, but only caring for money and for oneself does not make for a good life.

8. Leave an inheritance

The Bible talks about giving to the poor as well, but taking care of your family is paramount, and you cannot leave an inheritance for your children if you have no money and you are donating everything that you have.

Therefore, we should be investing and saving up to build generational wealth.

9. Seek wisdom not wealth

There is a story in the Bible where God comes to Solomon in a dream and promises to give him whatever he asks for, whether it is riches, kingdoms, or anything else. Most of us would ask for material things, but Solomon asks for wisdom, and through it he gains kingdoms, wealth and everything else.

In my own life, as I read more and learned more, it built me wealth, it bettered my relationships, improved my family situation, and gave me so much more. Wisdom is a lifelong journey, and the wiser you are, the wealthier you will become.

What does the bible say about money?

I hope you have enjoyed these lessons on money found in the Bible. Which of these do you find most relevant in your own life? Leave a comment below.