In God We Trust

08/22/22 • 25 min

Before you can do anything else with money, you have to earn it. Today on MoneyWise, scriptural counsel and practical advice about earning. Every so often on Monday, we review the five basic things you can do with money. You can earn it, live on it, give it away, you can owe it to someone, and you can grow it for the future. Earn / Live / Give / Owe / Grow. Today, our focus is earning. EARNING IS A BLESSING Generally speaking, working a job that pays you a wage or owning a business that produces a profit is good. These are God-given means by which we support ourselves and our loved ones and give to churches and other ministries. But earning money is not simply a means to various other ends. The work we do to make our way in the world has value in and of itself. It is through our work that God does a lot of his work of molding our character, building our perseverance, and sparking the creativity he has put within us. As my friend Howard Dayton likes to say, As the carpenter builds the house, the house builds the carpenter. What we do to earn money shapes us day after day after day. And therefore it is appropriate to ask God to guide our money-making tasks and use them to his glory. THE DANGERS OF EARNING Now, there are downsides to making money both if you make a lot of it and if your earnings are modest. Let me focus first on those who make a good salary or own a profitable business. Watch out! Never forget Deuteronomy 8:18, which reads: You shall remember the LORD your God, for it is He who is giving you power to make wealth. It is so easy, when making good money, to think you’ve accomplished it all yourself. If you start to feel that way, here’s a suggestion. Pull a dollar bill out of your wallet or a 10 or a 20 or whatever and look for the place where it says these words: In God We Trust. The only reason you have that money is because the very God who is mentioned on all your money has given you the power the creativity, the skills, the network of contacts, and so much more to make wealth. So humbly thank him for your success. For those whose earnings are modest, I want you to do the same thing. Pull out a dollar, or a coin, and find those same words: In God We Trust. And you can pray this prayer or something like it: Lord, it’s tough making ends meet sometimes, but I am trusting you. I believe you are the Lord of all, and you will make a way for me. Now, I can’t tell you why some godly people prosper financially and other godly people don’t. That is all wrapped up in the mystery of God’s providence. But I can remind you of the words of the Apostle Paul. He writes this: Rejoice in the Lord always. I will say it again: Rejoice!... Do not be anxious about anything, but in every situation, by prayer and petition, with thanksgiving, present your requests to God.And the peace of God, which transcends all understanding, will guard your hearts and your minds in Christ Jesus. And then he goes on to says this: I have learned to be content whatever the circumstances. I know what it is to be in need, and I know what it is to have plenty. I have learned the secret of being content in any and every situation, whether well fed or hungry, whether living in plenty or in want. I can do all this through him who gives me strength. Now, don’t misunderstand. There is nothing wrong with asking God to provide a better-paying job, or asking him to help your business succeed if it is struggling. But the size of a paycheck can never be the true source of joy and contentment. That source is Jesus alone. So remember: God knows your needs. He knows you need money to live on and he will make a way. And he knows all about the inflationary environment we’re in too! His ability to provide is not hampered by the inflation rate. Now if you’re one of those people who earns a good living, ask the Lord how he wants you to make use of what he’s entrusted to you. It’s his money. You’re a steward, a manager. Ask the Lord how to use what you earn to advance his purposes in the world. You might not hear an answer right away, but if you ask in obedient faith, God will open your eyes over time to needs that you can help meet. Again, whether you have modest earnings or a well-paying situation, always remember what’s written on the money: In God We Trust. On today’s program, Rob also answers listener questions: ● What are structured notes and how do they work within your investment portfolio? ● Can you claim home improvement costs against capital gains? ● How do you go about activating a special needs trust? RESOURCES MENTIONED: ● Xx Remember, you can call in to ask your questions most days at (800) 525-7000 or email them to [email protected]. Also, visit our website at MoneyWise.org where you can connect with a MoneyWise Coach, join the MoneyWise Community, and even download the free MoneyWise app. To support this ministry financially, visit: https://www.oneplace.com/donate/1085/29

Previous Episode

Debt and Taxes - Foundation 5.

Today on MoneyWise, we’re talking about one of the five main ways we all interact with money: owing money and how to think about it from a biblical perspective. As we have discussed in the past, there are five basic ways that all of us interact with money: 1. Earn it 2. Live on it 3. Give it away 4. Owe it 5. Invest it Today, we’re focusing on owing. We can owe money back that we have borrowed such as a mortgage, car loan, or school loan. Credit cards could fall into this category too if you carry a balance from month to month. But even if you don’t have any loans or credit card debt, there is another way we owe: taxes. That would include income and property taxes, and any other type of tax where you have an amount you have to pay by a specific deadline. Let’s talk first about loans. Scripture is clear that if we borrow money, we must repay it and do so in a timely fashion. Psalm 37 has lots of counsel related to living a godly life. It contrasts the ways of the wicked with the ways of the righteous. One of the things it says in describing the wicked is that they borrow money and don’t pay it back. Now, I understand that sometimes extenuating circumstances perhaps related to bad health or a job loss or some other problem may prevent you from paying what you owe. But what the Scripture is describing here is someone who purposely doesn’t pay, not someone struggling to pay. Borrowing money involves making a promise to pay it back under the conditions outlined in the borrowing agreement. So repaying money is simply keeping a promise. And the Lord wants us to be people who keep promises. Now, some people have argued that Christians should never borrow and they typically point to Romans 13:8, which says, Owe no one anything, except to love each other, for the one who loves another has fulfilled the law. Well, I am certainly not opposed to not owing anything. But I think, in context, Paul is talking there about interpersonal relationships, not about financial management. That said, the clear counsel of Scripture is that debt can be dangerous, and it is wise to avoid it as much as possible. Proverbs 22:7 notes that the borrower is the slave of the lender. That’s rather striking language, and it describes something that anyone who owes money can affirm! The borrower is in a position of servitude to the lender until that debt is paid. Millions of people carrying school loans know this all too well. They struggle to get ahead because the lender is always there wanting that school loan payment month after month, year after year. Our counsel based on both Scripture and practical experience it’s best to avoid debt as much as possible. But if you do have debts, your moral obligation is to pay them on time. Now, let me talk briefly about owing taxes. This, too, is a moral obligation. Scripture is quite clear about this. In Romans, Paul refers to government officials as ministers of God who help maintain public order. And he says this is why we pay taxes. He writes, Pay your taxes and government fees to those who collect them. Of course, you and I know that government is often inefficient and full of waste! But that doesn’t absolve us of our responsibility, before God, to pay what we owe. To be sure, tax law can be confusing. And if you can’t understand it, as it applies to your situation, it may be wise to hire someone who can understand it so that you can be sure you’re meeting the requirements of the law, and doing so with complete honesty. Now, you can and should take advantage of tax provisions that allow you to reduce your tax liability. There is nothing wrong with taking a legitimate deduction, credit, or write-off. But never cheat on your taxes. That is not only illegal, it is also displeasing to God. So, in summary: keep your debt at a minimum, pay any debt you have in a timely fashion, and when it comes to taxes, pay them without rancor and with an honest heart. On today’s program, Rob also answers listener questions: ● How can you get ahead to purchase a car and house when there seems to be no financial monthly surplus? ● What should you do with investments if you’re fearful of the near future of the stock market? RESOURCES MENTIONED: ● Find a Certified Kingdom Advisor Remember, you can call in to ask your questions most days at (800) 525-7000 or email them to [email protected]. Also, visit our website at MoneyWise.org where you can connect with a MoneyWise Coach, join the MoneyWise Community, and even download the free MoneyWise app. To support this ministry financially, visit: https://www.oneplace.com/donate/1085/29

Next Episode

Teaching Kids About Money With Art Rainer

Sharing the Gospel is the most important thing you can do for your kids, but perhaps the second most important thing is teaching them how to handle money wisely. We’ll talk about that with Art Rainer today. Art Rainer is the author of several books on personal finance, including a few on teaching kids about money. We recently talked about Ranier’s 3-volume series The Secret Slide Money Club, which has very entertaining and educational stories for younger kids, teaching them how to handle money from a biblical perspective. Today, Art Ranier explains why it is so important to teach kids financial stewardship and understanding God’s ownership. He says it’s never too early to start teaching your kids and grandkids, beginning with very simple concepts and working your way up to more complex principles as your kids get older and are able to grasp more advanced lessons. Rainer and Rob West explain the value of the jar approach: One jar devoted to money to live, one to save, and one for giving. They also discuss whether parents should pay their kids for completing household chores or for completing extra tasks. Additionally, Rainier explains the vital importance of teaching kids the biblical concept of generosity and how to convey the principle. They also talk about preparing kids financially for heading off to college, when they’re likely to be tempted to pile up credit cards and other debt. Art Rainer's 3-book series for kids called The Secret Slide Money Club. And you can learn more about Art at ArtRanier.com. On today’s program, Rob also answers listener questions: ● How do you go about creating a spending plan? ● Can you repay Social Security benefits to expand benefits down the road? Remember, you can call in to ask your questions most days at (800) 525-7000 or email them to [email protected]. Also, visit our website at MoneyWise.org where you can connect with a MoneyWise Coach, join the MoneyWise Community, and even download the free MoneyWise app. To support this ministry financially, visit: https://www.oneplace.com/donate/1085/29