How to Build Wealth While Heeding the Bible’s Warnings to the Wealthy
It’s not uncommon to find tension between different passages of scripture in the Bible. Though it can sometimes feel confusing, this is part of the beauty of the Christian life.
Following Jesus isn’t about following a set of rules, but about giving our lives to the one who laid down His life for us. One of these tensions that we find in Scripture are the many warnings about the dangers of pursuing wealth, but also encouragement to save for the future and to build wealth. This blog post will explore this tension.
The Bible’s Warnings for the Rich
The Bible contains numerous warnings for the rich of this world. In fact, the Apostle Paul told Timothy, a young pastor that he mentored, "As for the rich in this present age, charge them not to be haughty, nor to set their hopes on the uncertainty of riches, but on God, who richly provides us with everything to enjoy." (1 Timothy 6:17) Wealth can be dangerous, which is why it is frequently referenced in the Bible. Here are some more of the warnings that the Bible issues regarding the acquisition of wealth:
Mark 10:25 - It is easier for a camel to go through the eye of a needle than for a rich person to enter the kingdom of God.
James 5:1-6 - Come now, you rich, weep and howl for the miseries that are coming upon you. Your riches have rotted and your garments are moth-eaten. Your gold and silver have corroded, and their corrosion will be evidence against you and will eat your flesh like fire. You have laid up treasure in the last days. Behold, the wages of the laborers who mowed your fields, which you kept back by fraud, are crying out against you, and the cries of the harvesters have reached the ears of the Lord of hosts. You have lived on the earth in luxury and in self-indulgence. You have fattened your hearts in a day of slaughter. You have condemned and murdered the righteous person. He does not resist you.
1 Timothy 6:9-10 - But those who desire to be rich fall into temptation, into a snare, into many senseless and harmful desires that plunge people into ruin and destruction. For the love of money is a root of all kinds of evils. It is through this craving that some have wandered away from the faith and pierced themselves with many pangs.
Revelation 3:15-19 (to church of Laodicea) - I know your works: you are neither cold nor hot. Would that you were either cold or hot! So, because you are lukewarm, and neither hot nor cold, I will spit you out of my mouth. For you say, I am rich, I have prospered, and I need nothing, not realizing that you are wretched, pitiable, poor, blind, and naked. I counsel you to buy from me gold refined by fire, so that you may be rich, and white garments so that you may clothe yourself and the shame of your nakedness may not be seen, and salve to anoint your eyes, so that you may see. Those whom I love, I reprove and discipline, so be zealous and repent.
The Bible’s Encouragement to Build Wealth
As you can see, the Bible has some pretty harsh words regarding wealth. So does that mean that it is wrong to be wealthy? No, it doesn’t. We know that because the Bible also frequently discusses the wisdom in building wealth. Here are a few things that the Bible says about building wealth in the book of Proverbs:
“The crown of the wise is their wealth.” (14:24)
“The plans of the diligent lead surely to abundance.” (21:5)
“A good man leaves an inheritance to his children’s children.” (13:22)
“Honor the Lord with your wealth, and with the firstfruits of all your produce; then your barns will be filled with plenty and your vats will be bursting with wine” (3:9–10)
“Wealth gained hastily will dwindle, but whoever gathers little by little will increase it.” (13:11)
“Go to the ant, o sluggard, and consider her ways… she prepares (and saves!) her bread in summer and gathers her food in harvest.” (6:6-8)
“The blessing of the LORD brings wealth, and he adds no sorrow with it.” (10:22)
The Bible has many warnings for the rich while at the same time encouraging the building of wealth. If you struggle with that, you’re not alone. Many Christians struggle with the tension that comes from trying to reconcile these two strong positions that the Bible takes.
How to Build Wealth in a God-honoring Way
While there is no easy three-step process to building wealth in a God-honoring way, there are some practical things that can be done to steward wealth wisely. Here are five things that will help you keep a balanced perspective as you live in the tension of building wealth without letting it negatively affect you.
Be led by the Spirit. In John 14:26, Jesus says that “the Holy Spirit… will teach you all things and bring to your remembrance all that I have said to you.” He has come to guide us and instruct us in all things, including the area of wealth building. If you’re in tune with the Holy Spirit and willing to follow his guidance, he will not lead you astray.
Be thankful for what we have. Ephesians 5:20 says we should “always give thanks.” When we express gratitude, it positions us to depend on God and not on ourselves. Giving thanks is a way of acknowledging that our sustenance comes from outside of ourselves, which helps us to maintain humility, a necessary trait for those looking to build wealth in a God-honoring way.
Have a clear purpose for why you're saving. Don't just save to become rich. As we saw above, 1 Timothy 6 says that “those who desire to be rich… fall into many senseless and harmful desires that plunge people into ruin and destruction.” Note that it doesn’t say those who are rich, but rather those who desire to be rich. The money isn’t the problem, it’s the desire. If you are building wealth because your desire is to be debt-free, that’s something God honors (Proverbs 22:7). If you are building wealth because your desire is to provide for your family, that’s another thing that God honors (Proverbs 13:22). But if you are building wealth because your desire is to be rich, God says you’re going in the wrong direction.
Live with an open hand. They say that generosity is the antidote to greed. Charles Dickens’ familiar tale of Ebenezer Scrooge, A Christmas Carol, illustrates the power of generosity to change your perspective and experience life. Giving money away is a way of resetting your heart to depend on God when you start to get too attached to worldly wealth. If you are looking to grow in this area, this article has some practical ways you can do so.
Look to Jesus as our example. Jesus didn’t deprive himself here on earth (he lived well enough to be criticized by the religious leaders for it in Matthew 11:19), but his focus was always on things above. He enjoyed the things of this earth but he lived for eternal purposes (John 5:19).
Financially Minded, Eternally Focused
Our company, Guide Financial Planning, slogan is financially minded, eternally focused. We believe both are important and it's not choosing one over the other. We believe that, like Jesus, we should enjoy God’s creation and the resources that he’s blessed us with as it says in Ecclesiastes 5:19-20, but that we should do it all in light of our eternal purpose.
If you are interested in working with a financial professional who understands the tension between building wealth and heeding the Bible’s warnings for the rich, we are here to help. Any one of our CFAN advisors is well-equipped to help you navigate your financial journey as you strive to practice wise stewardship with an eternal perspective.
