Money Management: Spending, Investing, Saving and Earning Money
Today, I want to share some advice on what Warren Buffet has to say about…
- Spending,
- Investing,
- Saving, and
- Earning money.
We will also examine whether Mr Buffet’s wisdom aligns with what God says about these issues.
You may ask, well, who is Warren Buffett?
He is an American investor, business tycoon, and philanthropist who is the Chairman and CEO of Berkshire Hathaway. He is considered one of the most successful investors of our time and is currently the fourth wealthiest person in the world.
Mr Buffett has the following advice on money:
On Spending: “If you buy things you do not need, soon you will have to sell things you need.”
- In other words, don’t just buy things for the sake of buying them. Instead, invest and build wealth.
What does God have to say about spending?
“Fools spend whatever they get.” (Proverbs 21:20b)
Jesus said, “But don’t begin until you count the cost. For who would begin construction of a building without first calculating the cost to see if there is enough money to finish it?” (Matthew 14:28)
On Savings: “Do not save what is left after spending but spend what is left after saving.”
- In other words, save before you spend.
What does God have to say about spending?
“The wise man saves for the future.” (Proverbs 21:20a)
On Investing: “Do not put all your eggs in one basket.”
- In other words, diversify your investments.
What does God have to save about investing?
“Ship your grain across the sea; after many days you may receive a return. Invest in seven ventures, yes, in eight; you do not know what disaster may come upon the land.” (Ecclesiastes 1:1-2)
“Whoever gathers money little by little makes it grow.” (Proverbs 13:11)
On Earning: “Never depend on a single income. Make investment to create a second source.”
- In other words, invest your money. Over time, you will build a wealth portfolio that will bring in extra income.
What does God have to save about earning?
“Good planning and hard work lead to prosperity, but hasty shortcuts lead to poverty.” (Proverbs 21:5)
“The earnings of the godly enhance their lives, but evil people squander their money on sin.” (Proverbs 10:16)
Jesus also warned us, “For what does it profit a man to gain the whole world and forfeit his soul?” (Mark 8:36)
So, manage your money well…
Watch your spending.
Make sure that you set funds aside in savings.
Also, make sure that you build up a well-diversified long-term investment portfolio.
Do your best to earn well and look after your money.
Above all, remember you can take nothing with you. There is more to life than the here and now. Your relationship with God and where you will spend eternity is more important than your money management.
