Tuesday, August 5, 2008

Continuing from yesterday's post, I conclude with part 2 of my Bible study on How to handle your money:

VI. PROTECT YOUR FAMILY WITH LIFE INSURANCE
a. Principle: Proverbs 27:12 12 A prudent man sees evil and hides himself, The naive proceed and pay the penalty.
b. Guys: 1 Timothy 5:8 8 But if anyone does not provide for his own, and especially for those of his household, he has denied the faith and is worse than an unbeliever.
c. Women: Titus 2:4-5 4 so that they may encourage the young women to love their husbands, to love their children, 5 to be sensible, pure, workers at home, kind, being subject to their own husbands, so that the word of God will not be dishonored. (cf. 1 Tim 5:10.)

VII. HAVE RETIREMENT PLAN IN PROGRESS WHEN YOU’RE 40 YEARS OLD
a. Yes we know that: Proverbs 16:9 9 The mind of man plans his way, But the LORD directs his steps.
i. But at the same time, we must be wise and plan accordingly.
b. Proverbs 21:5-6 The plans of the diligent lead surely to abundance, but everyone who is hasty comes only to poverty. 6 The getting of treasures by a lying tongue is a fleeting vapor and a snare of death.
c. Proverbs 13:16 16 Every prudent man acts with knowledge, But a fool displays folly.

VIII. OWN YOUR HOME DEBT-FREE BY AGE 65 OR RETIREMENT
a. Note first about retirement: The only reference in the Bible to retirement is found in Numbers 8:25, which concerns the retirement of the temple priests or Levites. That is not much biblical justification for the multibillion dollar retirement system America has built (http://www.crown.org/LIBRARY/ViewArticle.aspx?ArticleId=544).
b. Proverbs 13:16 16 Every prudent man acts with knowledge, But a fool displays folly.
c. Prov 6:6-8: So, according to Proverbs 6:6-8, workers need to lay aside some surplus in higher-income-earning years so that the latter years can be spent in peace.

IX. HAVE A WORKABLE BUDGET
a. Proverbs 16:3 3 Commit your works to the LORD, And your plans will be established.
b. Proverbs 24:3-4 By wisdom a house is built, And by understanding it is established; 4 And by knowledge the rooms are filled With all precious and pleasant riches.
c. Proverbs 21:5 5 The plans of the diligent lead surely to advantage, But everyone who is hasty comes surely to poverty.
d. Proverbs 27:12 12 A prudent man sees evil and hides himself, The naive proceed and pay the penalty.
i. Cf. Luke 14:28-30 – calculate before you start building.

Conclusion:
Some Biblical Convictions
1- Learn to be content: 1 Timothy 6:6 6 But godliness actually is a means of great gain, when accompanied by contentment.
2- Give God a chance first: Psalm 37:7 7 Rest in the LORD and wait patiently for Him; Do not fret because of him who prospers in his way, Because of the man who carries out wicked schemes.
3- Avoid hasty speculation: Proverbs 28:22 22 A man with an evil eye hastens after wealth, And does not know that want will come upon him.
4- Evaluate every purchase: 1 Corinthians 10:31 31 Whether, then, you eat or drink or whatever you do, do all to the glory of God.
5- Don’t be deceitful: Proverbs 19:1 Better is a poor man who walks in his integrity Than he who is perverse in speech and is a fool.
Proverbs 20:7 7 A righteous man who walks in his integrity-- How blessed are his sons after him.
Proverbs 20:17 17 Bread obtained by falsehood is sweet to a man, But afterward his mouth will be filled with gravel.
6- Seek good Christian counsel: Proverbs 13:20 20 He who walks with wise men will be wise, But the companion of fools will suffer harm. (cf. Ecc 9:14-16.)
Luke 16:10-11 10 "He who is faithful in a very little thing is faithful also in much; and he who is unrighteous in a very little thing is unrighteous also in much. 11 "Therefore if you have not been faithful in the use of unrighteous wealth, who will entrust the true riches to you?

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This outline for my Bible study was adapted from Jim Rickard's Stewardship Services ministry. Check it out here.
Also see Crown Ministries for a host of articles that may serve you in great ways!
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