Manage Your Money Wisely

THE adage "Money is the root of all evil" has often been ascribed to the Bible. What the Bible really says is: "The love of money is the root of all evil." ( 1 Timothy 6:10, King James Version) Some people have indeed developed a fondness for money and have devoted themselves to the accumulation of riches. Some have become slaves of money and have reaped tragic consequences. When managed properly, however,  money can be a useful tool. The Bible acknowledges that "money solves a lot of problems." -Ecclesiastes 10:19, Holy Bible  - Easy-to-Read-Version.

Although the Bible does not claim to be a financial handbook, it does contain practical advice that can help you manage your money wisely.  The following five steps  are commonly recommended by financial advisers, and they are consistent with principles recorded in the Bible long ago.

Save.  The Bible record shows that the ancient Israelites were taught the value of saving. They were told to set aside a tithe (or 10 percent) each year to be used exclusively for attending the national festivals.  (Deuteronomy 14:22-27) The apostle Paul likewise encouraged early Christians to set aside savings each week so that they could later contribute something to help their needy fellow believers.  (1 Corinthian 16:1, 2)  Most financial planners encourage saving. Make saving a priority. As soon as you get paid, deposit the amount you wish to save in a bank or other location for safekeeping.  That will help you to fight any temptation to spend those funds. 

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