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Thirty Timeless Financial Strategies

How you manage your money is a reflection of your your heart; Therefore it is both a physical and spiritual matter.  Jesus said,"For where your treasure is, there your heart will be also" (Matthew 6:21, NIV). There are more verses in the Bible about financial management than all the scriptures combined written about heaven and hell.  After reviewing most of them, I created this list called the Thirty Timeless Financial Strategies. They are Biblical Financial Strategies.

STEP 1: Know God’s Goals for You

Biblical Financial Strategy #1 - Find the people in your life that are called to walk beside you to give you the support and encouragement you need.

“Two are better than one... If one falls down, his friend can help him up” (Ecclesiastes 4:9,10, NIV).

“Let us not give up meeting together... but let us encourage one another” (Hebrews 10:25, NIV).

Biblical Financial Strategy #2 - Do more than just talk about what you are planning to do; to be successful, you must commit your plans to Lord and follow through with the work God has called you to do.

“All hard work brings a profit, but mere talk leads only to poverty” (Proverbs 14:23, NIV).

“Commit to the Lord whatever you do, and your plans will succeed...” (Proverbs 16:3-4, NIV).

Biblical Financial Strategy #3 - Build a team of professional advisors to guide you.

“Without counsel, purposes {or plans} are disappointed: but in the multitude of counselors they are established {they become real, accomplished, complete, and fulfilled}” (Proverbs 15:22, KJV).

Biblical Financial Strategy # 4 - Monitor/know the condition of your finances.   

“Be sure you know the condition of your flocks, give careful attention to your herds; for riches do not endure forever” (Proverbs 27:23-24, NIV).

Biblical Financial Strategy # 5 - Achieve the financial goals that God has called you to accomplish, by spending time with God to know what goals God wants you to accomplish.

“ ’‘I know the plans I have for you,’ declares the LORD,’ plans to prosper you ... when you seek me with all your heart’ ” (Jeremiah 29:11-13, NIV).

“Whatsoever we ask, we receive of {God}, because we keep his commandments, and do those things that are pleasing in his sight” (1 John 3:22, KJV).

“{God} is able to do immeasurably more than all we ask or imagine...” (Ephesians 3:20, NIV).

“Delight thyself also in the LORD; and he shall give thee the desires of thine heart. Commit thy way unto the LORD; trust also in him; and he shall bring [it] to pass. Rest in the LORD, and wait patiently ...” (Psalm 37:4,5,7, KJV).

Biblical Financial Strategy # 6 - Led by God's Holy Spirit, His written word, not to by your fears or greed 

"The greedy bring ruin to their households" (Proverbs 15:27, NIV).

"For God has not given us the spirit of fear; but of power, and of love, and of a sound mind" (2 Timothy 1:7, KJV).

"For as the heavens are higher than the earth, so are my ways higher than your ways, and my thoughts than your thoughts" (Isaiah 55:9, KJV).

"Above all else, guard your heart, for everything you do flows from it" (Proverbs 4:23, NIV). Guard your heart by having God filled it with His love and Spirit.

"For those who are led by the Spirit of God are the children of God" (Romans 8:14, NIV).

" filled with the Spirit" (Ephesians 5:18, NIV).

"If you will fear the Lord, and serve him, and obey his voice, and not rebel against the commandment of the Lord..." (1 Samuel 12:14, KJV).

"The fear of the LORD is the beginning of wisdom: and the knowledge of the holy is understanding" (Proverbs 9:10, KJV).

Biblical Financial Strategy # 7 - break the cycle of greed and fear by giving to ministry and trusting in God as your provider.  God looks more at your heart and the percent that you give than He does of the amount you give.

“Everything under heaven belongs to [God]” (Job 41:11, NIV).

“Both riches and honor [come from God]” (1 Chronicles 29:12, KJV).

“Faithful over a few things,[then God] will make thee ruler over many things...” (Matthew 25:23, KJV).

Jesus said, “whomsoever much is given, of him shall be much required” (Luke 12:48, KJV).

“Honor the LORD with your wealth... then your barns will be filled to overflowing” (Proverbs 3:9-10, NIV).

Jesus taught, “Give, and it shall be given unto you; good measure and running over... For with the same measure that [you use] it shall be measured to you again" (Luke 6:38, KJV).

“He who sows sparingly will also reap sparingly, and he who sows bountifully will also reap bountifully.” (2 Corinthians 9:7&6, NIV).

Jesus said, “ up for yourselves treasures in heaven where moth and rust do not destroy, and where thieves do not break in and steal. For where your treasure is, there your heart will be also’”(Matthew 6:19-21, NIV).

“Jesus saw the rich putting their gifts into the temple treasury. He also saw a poor widow put in two very small copper coins. Jesus said, ”‘I tell you the truth, ‘this poor widow has put in more than all the others. All these people gave their gifts out of their wealth; but she out of her poverty and put in all she had to live on’ " (Luke 21:1-4, NIV).

The Bible teaches...“let each one give as he purposes in his heart, not grudgingly or of necessity; for God loves a cheerful giver” (2 Corinthians 9:7 NKJV).

Jesus taught about a rich man who said...“`This is what I'll do... I will store all my grain and my goods. And I'll say to myself, ‘you have plenty of good things laid up for many years. Take life easy; eat, drink and be merry.’ ‘But God said to him, `you fool! This very night your life will be demanded from you. Then who will get what you have prepared for yourself?' ‘This is how it will be with anyone who stores up things for himself but is not rich toward God’ ” (Luke 12:18-21, NIV).

" 'Will a mere mortal rob God? Yet you rob me. 'But you ask, 'How are we robbing you?' 'In tithes and offerings. You are under a curse--your whole nation--because you are robbing me. Bring the whole tithe into the storehouse, that there may be food in my house. Test me in this,' says the LORD Almighty, 'and see if I will not throw open the floodgates of heaven and pour out so much blessing that there will not be room enough to store it. " (Malachi 3:8-10, NIV).

Note: A tithe means ten percent of your financial gain for that year.  

Biblical Financial Strategy # 8 - Be content with your pay and do not be in love with money; instead love God and people.

"Then some soldiers asked him, 'And what should we do?' He replied, 'Don't extort money and don't accuse people falsely--be content with your pay.' (Luke 3:14, NIV).

"Keep your lives free from the love of money and be content with what you have, because God has said, 'Never will I leave you; I never will I forsake you" (Hebrews 13:5, NIV).

Biblical Financial Strategy # 9 - Avoid laziness and avoid supporting those who are lazy.

"Lazy hands make for poverty, but diligent hands bring wealth" (Proverbs 10:4, NIV).

For even when we were with you, we gave you this rule: “The one who is unwilling to work shall not eat.” (2 Thessalonians 3:10, NIV).


STEP 2: Protect Assets and Income

Biblical Financial Strategy # 10 - Create a spending plan (budget) and set aside a sum of money each pay period for your goals and obligations and ministry and with the left over income, pay yourself a weekly allowance to spend or give freely to others.

“On the first day of every week, each one of you should set aside a sum of money in keeping with his income, saving it up, so that when I come no collections will have to be made” (1 Corinthians 16:2, NIV).

“Godliness with contentment is great gain” (1 Tim. 6:6, NIV).

“The fruit of the Spirit is...patience...and self control” (Galatians 5:22-23, NIV).

Biblical Financial Strategy #11 - Examined where you are spending your money (checkbooks and credit card statements) for what you spend your money on is a testimony of what you value the most.

“For where your treasure is, there your heart will be also” (Matthew 6:21, KJV).

"the worries of this life and the deceitfulness of wealth choke {God's} word, making it unfruitful" (Matthew 13:22. NIV).

Biblical Financial Strategy #12 - Start an emergency fund and get at least 3 to 12 months of money in savings accounts because you never know when a financial disaster will come your way.

“Give portions to seven, yes to eight, for you do not know what disaster may come upon the land” (Ecclesiastes 11:2, NIV).

"The prudent see danger and take refuge, but the simple keep going and suffer for it" (Proverbs 27:12, NIV).

Biblical Financial Strategy # 13 - Have a written estate plan called a Will. Without an estate plan a good man may not leave an inheritance for his children’s children.

“A good man leaves an inheritance for his children's children” (Proverbs 13:22, NIV).

Biblical Financial Strategy # 14 - Have a positive perspective on insurance.  Look at insurance as giving to part of your resources away to take care of those in need and to take care of you if you ever have that certain financial need too.

“All the believers were together and had everything in common. Selling their possessions and goods, they gave to anyone as he had need...” (Acts 2:44-46, NIV).

“At the present time your plenty will supply what they need, so that in turn their plenty will supply what you need...’ ” (2 Corinthians 8:14-15, NIV).

"...there were no needy persons among them. For from time to time those who owned land or houses sold them, brought the money from the sales and put it at the apostles’ feet, and it was distributed to anyone who had need" (Acts 4:34-35, NIV).

Biblical Financial Strategy # 15 - Recognize certain financial dangers and use insurance as a critical part of protecting your family.

“The prudent see danger and take refuge but the simple keep going and suffer for it” (Proverbs 22:3, NIV).

STEP 3: Eliminate High Interest Rate Debt

Biblical Financial Strategy # 16 - Focus on becoming debt free. 

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

“If you lend money to one of my people among you who is needy, do not treat it like a business deal; charge no interest.” (Exodus 22:25, NIV).

“Do not charge a fellow Israelite interest, whether on money or food or anything else that may earn interest” (Deuteronomy 23:19, NIV).

To become debt free you need a plan.  First pay off the debts that you owe to friends and family members (regardless of whether they charge an interest rate) because a relationship can easily be damaged over a loan.  Next, focus on paying off the very small debts ($100, $50, etc.).  Then for your larger debts, focus on paying off the debt with the highest interest rate, then the next highest rate, then the next highest rate, until you are completely debt free.

Biblical Financial Strategy #17 - Never borrow money unless you have the means to repay. As a general rule, I believe it is practical to borrow for things that appreciate greater than the interest rate the creditor is charging.  If need be, you can potentially repay the debt by selling the asset.

“...if you lack the means to pay, your very bed will be snatched from under you” (Proverbs 22:7,27, NIV).

Biblical Financial Strategy #18 - Avoid co-signing, if all possible.  If you have co-signed then try all that you can to get that person to refinance the debt without you and get your name off their loan.

“My son, if you have put up security for your neighbor (meaning you have co-signed and pledged to pay their debt if they cannot or will not pay their debt), ...if you have struck hands in pledge for another, if you have been trapped by what you said, ensnared by the words of your mouth, then do this, my son, to free yourself, since you have fallen into your neighbor's hands: Go and humble yourself; press your plea with your neighbor! Allow no sleep to your eyes, ... Free yourself... “ (Proverbs 6:1-5, NIV).

Biblical Financial Strategy # 19 - Maintain a good financial name. Your credit report is your financial report card to the world.  

“A good name is more desirable than great riches” (Proverbs 22:1, NIV).

“Whoever can be trusted with very little can also be trusted with much, and whoever is dishonest with very little will also be dishonest with much” (Luke 16:10, NIV).

STEP 4: Accumulate for Goals

Biblical Financial Strategy # 20 - Avoid get-rich-quick schemes.

“People who want to get rich fall into temptation and a trap and into many foolish and harmful desires that plunge men into ruin and destruction” (1 Timothy 6:9, NIV).

Biblical Financial Strategy # 21 - Hire a competent advisor that is not full of pride. It is prideful to believe you can be an expert on everything.

“Make plans by seeking advice” (Proverbs 20:18, NIV).

“Listen to advice and accept instruction, and in the end you will be wise” (Proverbs 19:20, NIV).

“A wise man listens to advice” (Proverbs 12:15, NIV).

“My people are destroyed from lack of knowledge” (Hose 4:6, KJV).

“Pride goes before destruction” (Proverbs 16:18, NIV).

Biblical Financial Strategy # 22 - Diversify your investments.

 “Give portions to seven, yes to eight, for you do not know what disaster may come upon the land” (Ecclesiastes 11:2, NIV).

Biblical Financial Strategy # 23 - Save as often as you can, when you can, while you can.

“...he who gathers money little by little makes it grow” (Proverbs 13:11, NIV).

Through the power of compounding, your investment can double in value in a short period of time. You can estimate the number of years until your investment will double in value by dividing 72 by your interest rate or investment rate of return. For example take 72 and divide it by 12 which equals 6; thus a one-time investment growing at 12% should double about every 6 years.

Biblical Financial Strategy # 24 - Be faithful with the assets God has given you and be willing to take prudent risks.

“`Master,' he said, `you entrusted me with five talents  See, I have gained five more.' His master replied, `Well-done, good and faithful servant! You have been faithful with a few things; I will put you in charge of many things...’ Then the man who had received the one talent came. `Master,' he said, `... I was afraid and went out and hid your talent in the ground. See, here is what belongs to you.' His master replied, `You wicked, lazy servant! ... you should have put my money on deposit with the bankers, so that when I returned I would have received it back with interest. `Take the talent from him...and throw that worthless servant outside’” (Matthew 25:14-30, NIV).

Biblical Financial Strategy #25 - Make more than full restitution for your wrongs.

“The LORD said to Moses, ‘Say to the Israelites: 'When a man or woman wrongs another in any way and so is unfaithful to the LORD, that person is guilty and must confess the sin he has committed. He must make full restitution for his wrong, add one fifth (1.20 times the value of the wrong) to it and give it all to the person he has wronged’ ” (Numbers 5:5-7, NIV).

Biblical Financial Strategy # 26 - Build a team to get a better return than what you could do on your own and to help pick each other up.  In life you either work for money or have money work for you, or hire others to work and earn money for you.

“Two are better than one, because they have a good return for their work: If one falls down, his friend can help him up. But pity the man who falls and has no one to help him up!” (Ecclesiastes 4:9,10, NIV).

Biblical Financial Strategy # 27 - Do not love money or to be eager for money, but to be eager to serve God.   A greedy person has no inheritance in the kingdom of Christ and of God.

“...the love of money is a root of all kinds of evil. Some people, eager for money, have wandered from the faith and pierced themselves with many griefs. But you, man of God, flee from all this, and pursue righteousness, godliness, faith, love, endurance and gentleness. ... put [your] hope in God, who richly provides us with everything for our enjoyment” (1 Timothy 6:9-11, NIV). 

"For of this you can be sure: No immoral, impure or greedy person—such a person is an idolater—has any inheritance in the kingdom of Christ and of God" (Ephesians 5:3-5, NIV).

Biblical Financial Strategy # 28 - Know what types of accounts, strategies, and investments you can use to keep you from paying more taxes than what is required.

“ taxes, for the authorities are God's servants, who give their full time to governing”(Romans 13:6, NIV).

“Then [Jesus] said to them, ‘Give to Caesar what is Caesar's, and to God what is God's’ ” (Matthew 22:21, NIV).

Biblical Financial Strategy #29 - Be a person of excellence.  You do not have to be the best or perfect; you just have to give God your best in all you do.

“Whatever you do, work at it with all your heart, as working for the Lord, not for men, since you know that you will receive an inheritance from the Lord as a reward. It is the Lord Christ you are servicing” (Colossians 3:23-24, NIV).

“Do you see a man skilled in his work? He will serve before kings...” (Proverbs 22:29, NIV).

Biblical Financial Strategy # 30 - Invest your life into the things that are eternal like our relationship with God and the relationships with those whom God has called us to walk alongside with Him. 

Jesus said, “... store up for yourselves treasures in heaven where moth and rust do not destroy, and where thieves do not break in and steal. For where your treasure is, there your heart will be also’ ”(Matthew 6:19-21, NIV).

Jesus, God’s Son, said, “ ‘Do not work for food that spoils, but for food that endures to eternal life, ...The work of God is this: ... that everyone who looks to the Son and believes in him shall have eternal life, and I will raise him up at the last day’ " (John 6:27-40, NIV).

We are all going to live somewhere after we die.  It is either in heaven or hell. Where will you live? 

Ask yourself, are you good enough to get into heaven? Jesus taught, “ 'No one [is] good but One, [that] [is], God... When His disciples heard [it], they were greatly astonished, saying, ‘Who then can be saved?’ But Jesus looked at [them] and said to them, ‘With men this is impossible, but with God all things are possible’" (Matthew 19:25-26, NIV). 

How many sermons have you preach this week or how many demons did you drive out?  How many miracles have you done this week?  Let's say you are doing all those things weekly and seeing results; how pleased would others and God be with you?   Jesus taught, " 'Not everyone who says to me, `Lord, Lord,' will enter the kingdom of heaven, but only he who does the will of my Father who is in heaven. Many will say to me on that day, `Lord, Lord, did we not prophesy {preach} in your name, and in your name drive out demons and perform many miracles?' Then I will tell them plainly, `I never knew you. Away from me, you evildoers’ ” (Matthew. 7:21-23, NIV).  Are you too busy doing things for God to spend time with God getting to know His voice and listening to what He wants you to do that moment in time? Knowing about God and doing things for God never gets you into heaven; It is only through a relationship with God in which God is leading the way.  Only a person from heaven knows the way to heaven.  That is why Jesus said, “I am the way, the truth, and the life. No one comes to the Father except through Me”(John 14:6, NIV).    Jesus made the way for us so that God's Holy Spirit could live inside of you and lead you to heaven  (John Chapter 16 and Chapter 17).  Without it, it is impossible to enter heaven.

The views expressed are solely the views of Dustin B. LaPorte, CFP® and Anissa B. LaPorte, RN, BSN and are not necessarily the views of any company or ministry they represent.

This publication is designed to provide accurate information. It is published with the understanding that the publisher and authors are not engaged in rendering legal, accounting or tax advice. If legal, financial, tax or other professional advice is required, those services should be provided by an accredited and licensed advisor who can advise you on your specific needs.  

The information Dustin B. LaPorte, CFP® and Anissa B. LaPorte, RN, BSN provide is not necessarily applicable to your particular situation. This publication is designed to enhance your financial knowledge, not replace your professional advisors. Before implementing any strategy, always consult with your professional advisors. As a result, you agree not to hold Dustin B. LaPorte, CFP® and Anissa B. LaPorte, RN, BSN or their publishers and distributors or any company or ministry they represent liable for the implementation for the information provided. (Is this necessary to include? It seems that the pervious part of the paragraph should cover this.)