Faith Integration in Finance: A Guide

Introduction 

Linking faith to the main concepts of modern science, including finance provides important pedagogic values to learners who are able to embrace the unqualified relevance of spiritual teachings in the pursuit of the truth or honesty. The contemporary science as a behavioral science derives a lot of its concepts from human psychology as well as decision-making rules that have close links with religious teachings and events. The assumption that finance is removed from religious cultures and practices is not true. In the contrary, spiritual scriptures provide rich illustration as well as insight into human decision-making principles that helps in guiding financial planning and management. Faith plays important role in financial decision-making and management (Chua, 2015). 

Biblical Principles of Money 

Bible defines money as tool that is used to execute certain pre-determined purpose. At the same time, according to Luke 16: 11-13 New International Version , it is a tool that is used to tests the user’s loyalty. The Bible goes further to define money as testimony to the values and priorities that has the ability to share the user’s behaviors or characters. Therefore, based on the definition, one of the main biblical principles of money is that money is an object that people should manage based on a higher standard, especially with reference to a more strategic and comprehensive goals and objectives. Another fundamental biblical principle of money is that God owns it all. The principle states that every a spending decision that an individual has made is a spiritual decision. Therefore, there is spiritual difference in deciding to give to a church and making a decision to buy a car. In addition, the second principle makes it clear that the way people use money is a clear indication of their spiritual health. 

In addition, contentment is another important biblical principle of money. The book of Hebrews 13:5 puts it clearly that people should be contented with what they have. It is important for individuals to appreciate that whatever they have and put it into good used to achieve the set objective. The principle states that people should make good use of the little money they have. Besides, the Bible requires human to use the money they have, which is the fourth principle. The principle is illustrated in the book of Matthew 25:26-27 that talks about a master who entrusted two of his servants with money. Therefore, money should be used, especially to attain God’s goals and objective. 

Biblical Principle of Investing 

There are a number of biblical principles of investing. The first principle is about elimination of debt. The Bible discourages people from accumulating a lot of debt. Proverbs 22:7 , clearly states that wealthy people rule over the poor, and the borrower is a slave to the lender. The Bible, therefore, encourages quick repayment of debts because people who are debt free are able to save and invest for the future needs. The second principle is about diversification, which is one of the strategies of investing. The principle of diversification is captured in Ecclesiastes 11:1-2, which talks about casting bread upon waters (Chua, 2015). The uncertainty in economic environments or markets calls for diversion for an organization or s person to secure the future. 

The third biblical principle of investment is the need to only invest on what a person understands. Proverbs 24:3-4 states that a house can only be built through understanding. It discourages people from investing for the sake of it, but rather individuals need to have in-depth understanding in the areas they want to invest in. Unwise investment is likely to fail. Fourthly, the Bible warns people against get-rich-quick types of investments (Chua, 2015). The Bible clearly puts it in the Proverbs 21:5 , people can only prosper through good planning and hard work, but shortcuts leads to poverty. 

Biblical Principles of Long-Term Financial Planning 

The Bible encourages Christians to plan, think, and have vision in whatever they do. It does not encourage people to live a hand to mouth kind of life. The book of Proverbs 13:22 , want parents to leave inheritance to their children, which is only possible through long-term planning. One of the main biblical principles of long-term financial planning is making more or spending less that is possible through self-control (McGarvey, 2014). People are able to have long-term financial planning if they are increasing their income or reducing the expenditure. Discipline is another principle of long-term financial planning. Importantly, people should have discipline to avoid unnecessary expenditure and to save for the future. At the same time, Philippians 13:14 , demands that people should make long-term goals in order to execute their long-term financial planning. The final principle is the avoidance of debts that is explained in Proverbs 22:7 New International Version . Individuals are only able to have long-term financial plans if they do not have a lot of debts. 

Biblical Principles of Financial Risks 

Risk taking is widely covered in the Bible, and it may be traced back when Abraham was commanded by God to sacrifice his only son Isaac. At the same time, the book of Ecclesiastes clearly puts it that there is no reward without risks involved. One of the main biblical principles of risk-taking is the need to obey Gods words or command. The Bible explains that the guidepost of risk-taking should be based on the spiritual rewards from ( Liang, 2012) . Bible also encourages diversification in the financial risk-taking. The uncertainty of life and economic environments requires diverse investment as illustrated in Ecclesiastes 11:1. Another principle is that of taking advantage of the coming opportunities. It encourages people recognize and use opportunities to their own advantage. Generally, the Bible discourages people not to be too cautious, but they should be able to take some risks. 

Conclusion 

Modern financial concepts like investments, risk-taking, and long-term financial planning are explained in the Bible. Many financial concepts operate on the basis of faith. However, it is important for people to critically analyze the biblical explanation and the reality on the market or economy before making a financial decision. Nevertheless, the Bible provides sufficient principles on financial matters. 

References 

Liang, E. P. (2012). Modern Finance through the Eye of Faith: Application of Financial Economics to the Scripture. Christian Business Academy Review , 7(1) , 70-75. 

McGarvey, C. (2014, September 29). Why Financial Planning Needs More Religion. Money . Retrieved from http://time.com/money/3442419/religion-faith-money-financial-planning/ 

Chua, K. (2015). 4 Bible-based investment principles . Retrieved from https://www.rappler.com/business/personal-finance/88862-bible-based-investment- principles