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29 Mar 2011

The Author

Jason Price

Jason Price is a PerkStreet customer and a personal finance blogger at OneMoneyDesign.com where he blogs about personal money management, getting out of debt and Biblical finance. He enjoys spending time with his family and is always up for watching a good soccer match. You can follow Jason on Twitter and Facebook and also find him sharing blogging tips at SocialTechTips.com

Read more of his awesome advice below or visit his personal blog at OneMoneyDesign.com.

...if you like Jason's work, check out the blog posts from another personal finance guru who contributes to this publication: Brad Chaffee
3 Financial Truths from The Bible to Help You Better Manage Your Money
21 Comments
BibleLessons1

Editor’s Note: The following is not the opinion of PerkStreet Financial, but is the opinion of the author. Like all our guest columnists, Jason Price is a volunteer contributor to The PerkStreet Blog and customer as well. He also writes at OneMoneyDesign.com. Read his bio and learn more about guest posting at the bottom of this piece.

According to Christian financial author, Howard Dayton, The Bible contains over 2,300 scriptures related to money. I think it’s amazing The Bible has that much to say about money. It seems money and the management of it has always been a challenge for people and there exists an unending need to provide wisdom about how to manage it properly. Certainly, there are no shortage of financial blogs on the internet today sharing practical tips and financial wisdom.

Whether you’re a Christian or not, I believe people can find some financial truths in The Bible to help guide them in managing money wisely. Let’s take a look at 3 examples and how they might apply to your situation.

Avoid Debt

What does The Bible say about debt? The Bible helps us gain the right perspective about debt so we can avoid it.

The rich rule over the poor, and the borrower is servant to the lender.
(Proverbs 22:7)

If you’ve ever taken out a loan to buy something such as a car, TV or large appliance you may have felt a lack of freedom afterwards. Sure, you enjoyed your new purchase, but not as much when the payments were due each month for several years.

The Bible simply helps us understand we are in servitude towards debt or a lender when we borrow. You’re in a better situation when you’re free of such financial obligations. In other words, you can use your money to improve your financial situation and free yourself from that servitude by saving, investing or even giving more. Practically speaking, the calculation of your net worth (assets minus liabilities) will give you insight into the same truth.

Save for the Future

What does The Bible say about saving money? The Bible reminds us of the importance of saving and preparing for the future.

The wise man saves for the future, but the foolish man spends whatever he gets.
(Proverbs 21:20)

Many people know the importance of saving, but can’t seem to find a way to put money aside each month after expenses that often include credit card payments and other financial obligations. The Bible clearly tells us it’s foolish to spend all that we have. Rather, we need to save for the future because Murphy, as Dave Ramsey puts it, lurks around every corner.

Murphy’s Law says, “Whatever can go wrong, will go wrong.”  So, you can count on needing some money in the future to manage emergencies such as the car breaking down, a job lay-off or a problem with the house. Dave Ramsey tells us to avoid Murphy with such savings and The Bible clearly teaches the same.

Learn to be Content

How do you learn to be content from The Bible? There is a warning in The Bible against greed and pursuing too many possessions.

Then he said to them, Watch out! Be on your guard against all kinds of greed; a man’s life does not consist in the abundance of his possessions.
(Luke 12:15)

Learning to be content is a tough one for many of people. As an American society, we’re always wanting to spend more and have more. It’s certainly easy to want instant gratification when commercials and advertisements tell us we need something now versus later. And the amount of money we have available through credit cards makes it even easier to get today what you should probably be saving for to buy tomorrow.

Rather, The Bible says to be content and know that life is more than the abundance of possessions. Faith, family and relationships are often the most important things to people when you boil it down. Practically speaking, learning to be content involves creating a spending plan, or budget, that allows you to save for things you want versus buying on credit today. You can also use PerkStreet to earn cash back rewards on your purchases, which my family has found to be a new way to save some extra month each month.

Final Thoughts

Again, whether your’e a Christian or not, following these principles from The Bible of avoiding debt, saving for the future and learning to be content can help you manage your money wisely. There is that wonderful thing called “Financial Peace” Dave Ramsey always talks about. Yes, he even created a class around it. Following all of these principles will definitely create more financial peace in your life and help put you in the driver’s seat of managing your money. Remember, if you manage your money, your money can’t manage you.

What other lessons does The Bible teach about finance? Please share your favorites below so we can start a longer list.

Jason Price is a PerkStreet customer and a personal finance blogger at OneMoneyDesign.com where he blogs about personal money management, getting out of debt and Biblical finance. He enjoys spending time with his family and is always up for watching a good soccer match. You can follow Jason onTwitter and Facebook and also find him sharing blogging tips at SocialTechTips.com.

Are you looking for a debit card that offers cash back like a credit card so you can live a more financially fulfilling life debt-free? Dave Ramsey recommends the PerkStreet Financial Debit MasterCard(R) and we think it does just that.

21 Comments
  • http://katiedanger.livejournal.com/ Stella

    Dear Perk Street,

    There is definitely a place on the web for Biblical finance, such as Jason Price’s site and many others. However, the official PerkStreet blog is not it.

    Please keep PerkStreet secular out of respect for your customers, many of whom are Buddhist, Jewish, Muslim, etc.

    Thank you.

  • Elyn

    I agree with Stella and happen to think that the best biblical statement about money is, “it is easier for a camel to go through the eye of a needle than for a rich man to enter the kingdom of God.”

    Prosperity theology makes me sick to my stomach.

  • http://www.aeronchairs.org.uk Aeron chairs

    Those were really informative thoughts about the concept of money in the bible. Money is not easy to find at all. And I do believe that money is the root of all evil. In handling the money we must be wise and thrift, spend only for those which are really important and needed.

  • Chris

    Dear Perk Street,

    While I can appreciate the author’s desire to share the wisdom that he finds in the bible, I must admit that I am concerned that PerkStreet has decided that your official blog is an appropriate place to publish these findings. I feel that you are doing a disservice to your non-Christian customers by allowing biblically based articles to be posted on your blog. So, I echo Stella’s previous comment and ask you to keep PerkStreet secular out of respect for those of us who do not share the author’s Christian beliefs.

    Thank you.

  • http://Twitter.com/KylePs80 Kyle Psaty

    Stella, Chris, Aeron, and Elyn,
    The words in this article in no way represent the feelings of PerkStreet financial, they are the thoughts of the guest author, Jason Price. The PerkStreet Blog is meant to be a place for shared discourse where PerkStreet customers who are passionate personal finance writers are welcome to share their thoughts about money. Serious and humorous content alike is featured daily here.

    However, in nearly 200 articles, The PerkStreet Blog has never featured a post with a theological slant, and as the editor, I should not have posted it without a disclaimer earlier this evening. As it now appears, we hope it’s clear that it was not PerkStreet’s intention to propagate a theological message. Rather it is to create an open forum where people who are truly passionate about personal finance, budgeting and saving money can present their thoughts in writing.

    Why? Because the team at PerkStreet truly cares about helping people live better financial lives. We believe talking about finances in an interesting way helps people think about their own money in productive ways.

    -Kyle

    Kyle Psaty
    PerkStreet Financial

  • http://profiles.google.com/semantifi.seoteam semantifi seoteam

    Semantifi developed a meaning based search platform to search both structured and unstructured content and filed multiple patents. Semantifi addressed key challenges to searching structured data across the ‘search stack’ http://www.semantifi.com/

  • Stacia

    This is not an appropriate place for this, guest commentary or not. You’re inadvertently making a statement, and since you haven’t had any religious commentary before, the only way to go back would be to feature lots of different religions more prominently, which would cause other problems.

    I don’t want to see this in my news feed when I am looking for secular financial advice.

  • Craigfrench10

    Thank you for posting this, Jason.

    As you can see, you committed the unpardonable sin against secularism. I pray each swipe of of a reader’s Perk Street card will cause them to remember: “For what profit is it to a man if he gains the whole world, and loses his own soul? Or what will a man give in exchange for his soul? 27 For the Son of Man will come in the glory of His Father with His angels, and then He will reward each according to his works.” (Matthew 16:26-27)

  • Rowan

    Thank you PerkStreet for risking posting this Blog.

    Motivated by LOVE for others who also may need encouragement Jason Price has given us a free gift generously of the wisdom and advice he himself has been blessed with as a gift. Such courage and generosity is graciously received, thank you.
    It is sad to be a persecuted and shunned people in this American society while everyone else is free to be open about their “secularism religion,” focussed only on themselves – and how they are offended.
    The Bhuddist in me is not offended by your Christianity, and my Muslim brother is glad to save money; 2/3 versus are from the Psalms – totally acceptable to my Torah believing colleagues.

    Jason, you spoke “the truth in Love.” We “will know the truth, and the truth will set us free..” from debt, anxiety, stress in the home, division with our spouses, and hopefully division between religions. “Love overcomes a multitude of sins” (sins are places where we have missed the mark we were aiming at – in this case, financial success), so your advice is welcomed in Love it was given. A wise woman in Africa once shared with me that the opposite of “Love” was not “Hate”… but “Selfishness.” Thank you for having the courage to love enough and share your wisdom.

  • Krusador

    I personally would love to learn what other religious texts have to say about handling money. Does anyone know any of those, from the Torah, Koran, etc.?

  • Soopermom

    To those who can’t handle a “guest” commentary and are bashing PS, may I remind you that you spend money that clearly states “IN GOD WE TRUST” on every bill and coin?! If you use it, save it or spend it – you already left yourself wide open. It’s a tad smelly of a cologne called Hypocrites.

  • H2o Mcmf

    Hoe does this not count as secular financial adive. If Budda or Homer said it you would run with it. I’m sick of people taking advice for olny the old books that work for there piont of view and then claming there open minded.
    The rich rule over the poor, and the borrower is servant to the lender.

  • http://Twitter.com/KylePs80 Kyle Psaty

    Hey commenters,
    I just wanted to stop by and let everyone know that PerkStreet really values each and every one of your opinions regarding this post.

    We’re carefully considering how to proceed with new rules about we’ll handle submissions with a secular or religious slant in the future. In the meantime, we want you to know that PerkStreet is committed to engaging our customers in open dialogues about this topic and others.

    PerkStreet is committed to transparency and honesty in our business and to listening to our customers. We take it seriously when something we’ve done pleases you as well as when it upsets you. Your opinions matter and shape our blog as well as our business. Thanks very much for sharing them.

    -Kyle

    Kyle Psaty
    PerkStreet Financial

  • http://katiedanger.livejournal.com/ Stella

    Dear Kyle,

    Thanks for the new disclaimer. I continue to appreciate the ways in which PerkStreet uses social media to be the friendliest, most fun bank on the web, and I’ll be able to enjoy them even more with this clarification.

    Stella

  • http://katiedanger.livejournal.com/ Stella

    Dear Kyle,

    Thanks for the new disclaimer. I continue to appreciate the ways in which PerkStreet uses social media to be the friendliest, most fun bank on the web, and I’ll be able to enjoy them even more with this clarification.

    Stella

  • http://www.smartonmoney.com Mr. Money Smarts

    I’m really having a hard time what folks are so up in arms about. The bible verses that Jason chooses to share here are hardly controversial. They discuss themes of:

    1. Avoiding Debt
    2. Saving for the future
    3. Learning to be content, and not relying on money or possessions.

    Those are some pretty tame themes – and hardly “religious” in nature – despite them having come from the bible. They’re just good sound financial advice.

    I’m also not sure where the prosperity gospel bash comes in. In any event, can someone explain just how having these here is offensive – or how it could cause others to be upset? What about them is offensive to those of other faiths?

    I for one enjoyed the post. Keep up the interesting and informative content Perkstreet (and Jason)

  • http://www.DebtFreeAdventure.com Matt Jabs

    Why does sound money advice automatically offensive when mentioned in relation to the bible? The 3 concepts listed here are propagated in every personal finance site on the web…

    If the same concepts were brought from any other religious text, would you take offense? What does it matter where the info comes from as along as it is wise and useful?

    Really stop and think about that before automatically taking offense…

  • Karl

    “Because the team at PerkStreet truly cares about helping people live better financial lives.”

    This is the very reason why I opened an account at PerkStreet. I got so sick of traditional banks and all their gimmicks and false promises.

    I learned that hearing “We offer the best products and services” equals “We offer the most interesting scams that end up making us (the bank) richer and you wondering why you ever agreed to put thousands of dollars in ‘high yield’ savings accounts that pay 0.25% interest and charge monthly fees for not meeting daily balance requirements.”

    I’m happy to be making a fresh start and to be reading about people who actually care about helping you improve your finances. I can’t say that I have the most money I have ever had, but I can say I have the most knowledge about money I have ever had.

    I have learned from PerkStreet, as well as other sources, that things can be different. You just have to start somewhere and have a few goals in mind. The first, and most important in my mind, is don’t let anyone sell you debt.

    I don’t see PerkStreet flooding me with credit card offers in the mail or telling me about “great interest rates on loans” when I call customer service. Whew, to finally escape from all that annoying hassle is more than wonderful. Now I can focus on improving my own finances without having to worry about being sucked into some proposed great deal that only improves someone else’s balance sheet.

    PerkStreet – you keep doing what you have been doing. I’m sure more and more people will see just how greener things can be when they choose to escape the foothold of today’s traditional banks and decide to make their own decisions and put their money in a place where people actually care. Go PerkStreet! Thank you!

  • JamieCartright

    Thank you!

  • Anonymous

    Thanks for taking this opportunity to discuss this, I feel fervently about this and I like learning about this subject. Thanks for sharing this valuable post.

    Bishop Jordan 

  • SMIG

    Well, what about these??

    Do not worry about your life, what you will eat or drink; or about your
    body, what you will wear. Is not life more important than food, and the
    body more important than clothes?…. O you of little faith? So do not
    worry, saying, ‘What shall we eat?’ or ‘What shall we drink?’ or ‘What
    shall we wear?’ For the pagans run after all these things, and your
    heavenly Father knows that you need them (Matt 6:25,31,32).

    Seek first the kingdom of God and his righteousness, and all these
    things will be given to you as well. Therefore do not worry about
    tomorrow, for tomorrow will worry about itself. Each day has enough
    trouble of its own (Matt 6:33,34).

    esus said to him, “If you wish to be complete, go and sell your
    possessions and give to the poor, and you will have treasure in heaven;
    and come, follow Me.” But when the young man heard this statement, he
    went away grieving; for he was one who owned much property (Luke
    18:22-23).

    PLEASE ANSWER THIS. AND I MAY NOT UNDERSTAND FINANCES COMPLETELY, BUT I COMPLETELY UNDERSTND WRITTEN ENGLISH….SO PLEASE, NO “WHAT THE BIBLE IS REALLY SAYING” JUNK….I KNOW WHAT IT IS SAYING.

    i WANT TO BELEIVE DR, BUT I WANT TO BELIEVE HIM BECAUSE WHAT HE SAYS IS TRUE, NOT JUST BECAUSE HE SAYS IT.

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