Many look to the Bible for financial advice, but is it wise?
Depending on your view, the Bible is divinely inspired or a collection of tall tales. But many see it as a source of financial wisdom that transcends individual faith and the centuries between when it was written and today's tough times.
"All sound professional advice, I found, has its roots someplace in Scripture," says Ron Blue, author of Surviving Financial Meltdown and founder of the Kingdom Advisors, which trains Christian financial professionals. Blue uses the Bible for guidance on everything from budgeting to long-term investing and handling an inheritance.
But Robert Manning, author of Credit Card Nation, says biblically based financial advice isn't sophisticated enough in a world of rising health care, housing and retirement costs, where people need to learn to take advantage of complicated credit and tax laws....
There is a lot of moral advice that will affect financial decisions, but the Bible does not have any books in it by Warren Buffet! No matter what financial system you are in, the following is good, general advice:
Proverbs 6 6 Go to the ant, O sluggard, Observe her ways and be wise, 7 Which, having no chief, Officer or ruler, 8 Prepares her food in the summer, And gathers her provision in the harvest. 9 How long will you lie down, O sluggard? When will you arise from your sleep? 10 "A little sleep, a little slumber, A little folding of the hands to rest"-- 11 And your poverty will come in like a vagabond, And your need like an armed man.---NASB