There is an amusing interchange between George Bailey and the angel, Clarence, in the classic movie, “It’s a Wonderful Life.” Clarence declares, “We don’t use money in Heaven,” and George quickly replies, “Well, it comes in real handy down here, bud!”

Since money is central to everything we do in life, it’s important that we understand the basic principles of financial management. Here are some tips for helping to manage your money from a Biblical perspective.

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Tip #1:

Recognize that everything we have is a gift from God and that we are simply stewards of the things He entrusts into our care.
Philippians 4:19 , James 1:17

Tip #2:

If possible, employ the “10 and 10” rule to your finances—10 percent of your income for the tithe and 10 percent into savings.
Proverbs 3:9-10 , Proverbs 13:11

You can increase these percentages as you begin to prosper.

Tip #3:

Avoid negative kinds of debt as much as possible.
There are times when debt is necessary in life, such as when buying a home or building a business. But we should strive to stay out of debt as much as possible.

Romans 13:8 , Proverbs 22:7

Tip #4:

Ask God to give you wisdom on how to invest in profitable areas for future increase.

Proverbs 31:16 , Matthew 25:16, 20-21

Tip #5:

Use money as a tool and guard your heart against making it an idol.

Hebrews 13:5

Tip #6:

Look ahead and plan for possible adversity.

Proverbs 22:3

Tip #7: It’s important to create a budget, stick to it, and keep good records.
Luke 14:28 , Proverbs 15:22

Seek godly counsel and expert advice on how to budget your money.

Tip #8:

Be a generous person— not only with your money, but with your time and expertise.

By sowing into others of your money, time, and talent, you are setting yourself up for an eventual harvest of God’s blessings.

2 Corinthians 9:6 , Proverbs 19:17, Matthew 10:42

Tip #9:

Do not co-sign for a loan.

If someone is not able to get a loan on their own, then by co-signing, you are actually taking out that loan— and you will be responsible to pay it back with interest.

Proverbs 22:26

Tip #10:

Work hard and you will eventually bear the fruit of your labor.
Proverbs 14:23 , Proverbs 28:19 (Matthew 6:33)

Money is only one of the many things God has entrusted to us to care for and steward in this life. Let us ask the Holy Spirit to guide our every decision so that we can wisely use our resources for the good of our families and of the Kingdom of God.

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