Updated July 26, 2021
The Bible gives a lot of guidance for how to best live your life, but what does the Bible say about wealth and saving money? — and how should you let your religious beliefs affect yourinvesting practices? There is no lack of guidance on how Christians should conduct their investment and money-saving practices in an investment world of uncertainty.
In the late 1920s, Irving Fisher was one of the most trusted names in the investment world. America listened as he offered bold investment advice on October 16, 1929: “Stock prices have reached what looks like a permanently high plateau… And I expect to see the stock market a good deal higher within a few months.” If you’re a history buff, then you know that Black Monday and Black Tuesday occurred less than two weeks later, as the stock market dropped 13% and 12% on two consecutive days. This is just one example of what we know to be true: any human investment advice can be wrong which is why we consider what the Bible says about wealth.
Bible Verses About Investing
- “Wealth gained hastily will dwindle, but whoever gathers little by little will increase it.” – Proverbs 13:11
- “The plans of the diligent lead surely to abundance, but everyone who is hasty comes only to poverty.” – Proverbs 21:5
- “Better is a little with righteousness than great revenues with injustice.” – Proverbs 16:8
- “A faithful man will abound with blessings, but whoever hastens to be rich will not go unpunished.” – Proverbs 28:20
- “Whoever trusts in his riches will fall, but the righteous will flourish like a green leaf.” – Proverbs 11:28
- “Whoever loves pleasure will be a poor man; he who loves wine and oil will not be rich.” – Proverbs 21:17
Certain Bible verses about investing and the accumulation of wealth can help guide your practices when it comes to your financial planning strategy. Let’s review three pieces of Bible investment principles from the book of Proverbs:
1. Gain your wealth slowly
“Wealth gained hastily will dwindle, but whoever gathers little by little will increase it.” – Proverbs 13:11
“The plans of the diligent lead surely to abundance, but everyone who is hasty comes only to poverty.” – Proverbs 21:5
We all know the tale of the slow, steady turtle crossing the finish line before the quick and careless hare. The moral is that you can be more successful by careful and patient practice than speed and recklessness.
Proverbs 13:11 and 21:5 are true in the investment world as well and some of the best Bible verses on saving money. While quick riches are tempting, yet reckless, God intends for us to grow our wealth slowly and patiently. The Bible advocates for saving money over time with humility and the avoidance of greed, despite what you may have heard from Gordon Gekko in Wall Street (1987). In the words of faith-seeking English poet, William Langland, “patience is a virtue.”
Discipline is integral to investing. Avoid focusing on immediate gains and direct your concentration on steady,long-term wealth accumulation. Consider investing a fixed portion of your income at regular monthly intervals, this strategy is known as dollar-cost averaging. This will allow you to keep your emotions in check and grow your wealth responsibly. The longer you invest in the stock market, the greater the probability of better returns. While the year-by-year ups and downs (volatility) can be significant, these swings have historically just become noise after 10+ years.
Remember the Rule of 72: Take your expected rate of return and divide that number into 72. That’s how long it takes to double your money. So, if you were to achieve a 7% annual return, your money would double in just over 10 years (72/7=10.29).
2. Gain your wealth justly:
“Better is a little with righteousness than great revenues with injustice.” – Proverbs 16:8
“A faithful man will abound with blessings, but whoever hastens to be rich will not go unpunished.” – Proverbs 28:20
These verses emphasize an important principle: God wants us to accumulate wealth justly or not at all. There are warnings throughout the book of Proverbs that warn against profiting via bribes, deceit, and theft. While avoiding these and other unethical practices may seem like a no-brainer, it’s important that we see the bigger picture: the Bible wants us to build wealth without compromise of our morals.
Unfortunately, you may be investing in a way that compromises your morals without even knowing it. The average investor has 40% of their money invested in companies engaged in abortion, 21% in companies that promote sinful media, and 18% invested in companies engaged in pornography.*
While most financial advisors will tell you that this isn’t something to worry about, the book of Proverbs indicates that Christians should avoid growing their wealth dishonestly. If you’re interested in aninvestment option that supports what the Bible says about wealth without necessarily compromising diversification or return, the ‘Demand Christian’ Portfolio might be the answer.
3. Gain your wealth, but don’t trust in it:
“Whoever trusts in his riches will fall, but the righteous will flourish like a green leaf.” – Proverbs 11:28
“Whoever loves pleasure will be a poor man; he who loves wine and oil will not be rich.” – Proverbs 21:17
This advice is the most counter-cultural: wealth-building must never be seen as something that will bring us satisfaction. We were created to treasure and enjoy Jesus above all else. The moment that wealth becomes the main driving force in your life is the moment that it becomes dangerous. Do you know anyone who gained more satisfaction from materialistic luxury items than a meaningful relationship with friends and family?
The only thing in this universe that can completely satisfy us is Jesus Christ. All other blessings in this life are intended for enjoyment, not worship. If we place our values in anything other than Christ, then it’s only a matter of time before we fall.
Taken altogether, Proverbs paints a clear picture ofhow God wants Christians to view investing. God wants us to grow our wealth slowly and wisely without compromising our morals or capturing our affections.
* Data taken from eVALUEator at https://www.christianinvestingtool.com and is based on an average of the two largest Total Market Index ETFs.
This report is a publication of Demand Wealth. Information presented is believed to be factual and up-to-date, but we do not guarantee its accuracy and it should not be regarded as a complete analysis of the subjects discussed. All expressions of opinion reflect the judgment of the author as of the date of publication and are subject to change.
Past performance may not be indicative of future results. Therefore, no current or prospective client should assume that the future performance of any specific investment, investment strategy (including the investments and/or investment strategies recommended by the adviser), or product made reference to directly or indirectly, will be profitable or equal to past performance levels.