Financial Wisdom from the Wisest Man Who Ever Lived (Part 4)

Today, we are going to look at PART 4 in our new feature about the wisdom of Solomon regarding good money management. 

Over the coming weeks, we are going to look at several of the wealth management principles he shared. If you apply these money management principles, you will be successful. 

King Solomon had an encounter with God. We are told, “At Gibeon, the Lord appeared to Solomon during the night in a dream, and God said, “Ask for whatever you want me to give you.” (1 Kings 3:5)

But do you know what Solomon asked for? He could have asked for anything, yet he asked God, “Give me an understanding heart so that I can govern your people well and know the difference between right and wrong.” (1 Kings 3:9)

We are told that “The Lord was pleased that Solomon had asked for wisdom.” (1 Kings 3:10)

And God told Solomon, “Because you have asked for wisdom in governing my people with justice and have not asked for a long life or wealth or the death of your enemies— I will give you what you asked for! I will give you a wise and understanding heart such as no one else has had or ever will have! And I will also give you what you did not ask for—riches and fame! No other king in all the world will be compared to you for the rest of your life! And if you follow me and obey my decrees and my commands as your father, David, did, I will give you a long life.” (1 Kings 3:11-14)

God gave Solomon great wisdom and an understanding heart. God said that Solomon’s wisdom would be greater than anyone else who will ever live. Thank God that Solomon wrote down his wisdom! God gave Solomon incredible insight to not only lead his people but also perspective on how to live a good, long life, and gave him secret insights into wealth and success. 

The wisdom that God blessed Solomon with ensured that his people lived in peace, prosperity, and security. 

How do I know this? 

Well, we are told, “The people of Judah and Israel were as numerous as the sand on the seashore. They were very contented, with plenty to eat and drink.” (1 Kings 4:20)

And again, “During the lifetime of Solomon, all of Judah and Israel lived in peace and safety. And from Dan in the north to Beersheba in the south, each family had its own home and land.” (1 Kings 4:25)

Solomon’s wisdom brought “peace and security” and “each family had their own home and land” where they could live, raise their families, and where they could provide for their loved ones.

When you look at the status of our world, we sure can do with the wisdom of Solomon. 

I am so grateful that God got Solomon to write down his wisdom and include this in the Bible so that we can apply it to our lives. 

In PART 1, we looked at what King Solomon said about the importance of having… 

• A DREAM
• A VISION
• A PLAN
• That you can TRUST GOD to help you

In PART 2, we looked at three powerful principles…

• Being GENEROUS
• Getting your PRIORITIES in the right order
• The importance of MAKING GOOD DECISIONS

In PART 3, we looked at… 

• The dangers of being GREEDY and LAZY, and how this can lead to poverty and ruin.
• The importance of being HONEST and having a good WORK ETHIC, and how these traits lead to profit and success.

Today in PART 4, we are looking at what King Solomon had to say about SAVING.

1. Save for the Future

“The wise man saves for the future.” (Proverbs 21:20a)

According to King Solomon, it is wise to save. It is important to make it a priority in your money management. 

After giving your best part to God, get into a habit of putting funds aside into your savings before you spend money on other things. 

Are you saving? 

Why not automate your savings by setting up a fixed monthly debit order on your bank account to ensure you make it easy to save and invest before you are tempted to spend your money?

Please note that there is a difference between saving and investing. Saving is to build up money for short-term needs, emergencies, and opportunities, while investing is to build up money over the long term. Next week, we will look at what King Solomon had to say about investing. 

When it comes to your savings, it is important to keep it in a bank savings account where you can access your money if a need or opportunity arises. 

2. Only Spend What is Left Over After Saving

“The foolish man spends whatever he gets.” (Proverbs 21:20b)

King Solomon told us the foolish man spends whatever he gets. On the flip side, a wise person saves for the future.

You need to save before you spend. 

Be careful how you manage your money. It is so easy to just spend money. Don’t be reckless. If you don’t set part of your income aside into savings, you will be left in trouble if a pressing need arises. 

So many people end up deep in debt because they are forced into living on credit when tough times hit, all because they never made provision for saving. Debt leads to stress, but having available savings will bring peace of mind.

Many don’t know where their money is going. Live within your means. If it feels like your money just disappears, seriously review your expenses and plug those spending leaks. Review your budget and include your savings as one of the first items in your budget.

Wise people save first. This ensures they always build up savings. Poor people spend first. Even though they had an intention to save, they don’t end up saving because there is never ever money left to save.

If you save first, you will set yourself up for a brighter financial future, and you will always have funds available for when the storms hit. 

3. Take a Lesson from the Ants

“Take a lesson from the ants, you lazybones. Learn from their ways and become wise! Though they have no prince or governor or ruler to make them work, they labor hard all summer, gathering food for the winter.” (Proverbs 6:6-8)

King Solomon told us to follow the example of ants. They work hard. They have a plan. They don’t eat everything they gather. They store part of their supplies aside so that they have food when tough times arise.

Do you have money set aside for emergencies? What about for when opportunities arise?

I suggest that you apply King Solomon’s wisdom.

Save. Don’t spend all you get. Build up a reserve fund. Set some of your income aside into savings. Build up your savings.

If you do, you will have disposable money available for when the toaster burns out or when the car tires run smooth. You will also have money available to buy your child those football boots when they make the team and money available for the end-of-year holiday treats, without racking up credit card debt, all because you chose to learn from the ants, and you stashed part of your income in savings.

Today, we have looked at three principles that you can apply to your money management that come from the wisest man who has ever lived…

• SAVE for your future
• Only SPEND what is left over after saving 
• Learn from the ANTS and store part of your money away by BUILDING UP YOUR SAVINGS

If you apply this wisdom on saving, you will reduce your stress levels and increase your joy levels. You will have money available for when tough times hit, and you will have money available for when opportunities arise. 

Next week we will continue in the series and look at a few principles on INVESTING as shared by the wisest man who ever lived.