5 Basic Concepts of Personal Finance

1. Work Hard


All hard work brings a profit, but mere talk leads only to poverty. –Proverbs 14:23

If you’re looking for a get rich quick plan, sorry to disappoint. Work hard is #1 because… well isn’t it obvious?

2. Budget


The plans of the diligent lead to profit as surely as haste leads to poverty. –Proverbs 21:5

Before you even have check in hand, make sure you have a detailed game plan on how you’re going to distribute your dollars. If you don’t make a budget, you’re welcoming frivolous and impulsive spending.

3. Save


The wise store up choice food and olive oil, but fools gulp theirs down. –Proverbs 21:20

You’ve probably heard this a lot and you might think, “I don’t have enough to save.” But yeah, you do. Do you have enough to buy all the things you want right now *and* save? Probably not.

4. Pay Debts


Do not be a man who strikes hands in pledge or puts up security for debts; if you lack the means to pay, your very bed will be snatched from under you. –Proverbs 22:26-27

Debt is so prevalent these days that we even have something called “good debt.” But in the Bible days all debt was debt. So don’t buy what you cannot afford, pay your bills on time, and make no excuses. Simple.

5. Be Ethical


He who oppresses the poor to increase his wealth and he who gives gifts to the rich- both come to poverty. –Proverbs 22:16

Like Momma used to say… Have a little integrity ’bout yourself 🙂

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8 thoughts on “5 Basic Concepts of Personal Finance

  1. I fail on 4/5 counts and yes, I’m a poor man. But I’m a happy poor guy. I got no worries in the world. There’s no one as happy as I am. My neighbors and friends envy me.

    I guess Jesus Christ is lord over all the Proverbs.

    His ways are unintelligible and inexplicable. That’s why I call him TNT FOR THE BRAIN, after the title of an Enigma song.

    1. Work hard: I used to work 13.5 hours/day, 7 days/week for Rs10,000/m and I was unhappy, gulping expensive antidepressants. Now I work 1.5 h/d, 5 d/w for Rs1,000/m and I’m off meds. That’s less than $10/month.

    2. Budget. I rarely plan.

    3. Save: Whatever I save, God wastes so I’ve stopped saving. An empty pocket makes me feel safer in the streets of Karachi.

    4. Debt. I got no money to pay debts so I don’t pay debt.

    I believe Proverb is not talking about money. It’s talking about moral values. Why God would ask us to work harder for money while He has blessed the Sabbath (rest) out of the 7 days of the week?

    “Don’t keep your wealth in this world where thieves steal and moth eats. But keep your wealth in heaven where no thief can steal and no moths eat. Because wherever your wealth is, there will be your heart also”~ Jesus.

    Like

  2. Love it when you quote Scriptures to validate your points Rae – I’ll have to use these 5 tips in a Bible Study I’m putting together on Finance! Once again, thanks for the wisdom and inspiration. You’re awesome girl 🙂

    Liked by 1 person

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