The Relationship Between Contentment and Wealth
I’ve often said that contentment is one of the most powerful tools that one can have within one's financial toolbox. Why?
Because it offers both spiritual and financial benefits (more on this below). Contentment is one of the best ways to steward and plan well, all while guarding your heart against the power of money.
There seems to be a subtle notion that someone can’t accumulate wealth if they aren’t “grinding” hard enough for more.
With that being said, I do believe there is an interesting relationship between contentment and wealth.
The Dilemma for More
We live in a world that encourages us to think that “more” is the way to live a better life ( e.g. happiness, respect, power, and so on). It’s harder now more than ever to be content with what we have.
Social media constantly bombards us and reminds us of what we don’t have. Did you know that we (Americans) are exposed to some 4,000 - 10,000 marketing messages each day? Absolutely mind-boggling.
We’re susceptible to the same problem when it comes to our personal finances.. It is not at all uncommon to find ourselves wanting to steward well while, at the same time, wanting “more” to improve our lifestyle, “keep up with the Joneses,” or for some other reason.
However, as Christians, we should be aware that there’s a very real danger in the desire for more when done with ill intent. Interestingly enough, those that want more are never satisfied.
“He who loves money will not be satisfied with money, nor he who loves wealth with his income; this also is vanity.”
Ecclesiastes 5:10 ESV
Striving for Contentment
Contentment stems from faithfulness and a grateful heart. It’s hard to be content if you're not grateful and faithful to the One who has given us more than we deserve. So it’s paramount that we constantly remember how much we should be grateful for.
When we’re content, we::
Can identify how much is enough
Live beneath our means
Live a controlled lifestyle
Have healthy and proper use of debt
Give cheerfully
When striving for contentment, identifying how much is enough is a great place to start. This can be applied to income, lifestyle, saving/accumulation, and more. Knowing how much is enough and why is a solid step forward in accountability and cultivating contentment within your personal finances. If not, you may pursue more, either consciously or subconsciously, without a meaningful purpose.
Living beneath our means is one of the telltale signs of contentment. It shows that we’re satisfied with living a lifestyle below what we’ve been provided.
On the contrary, spending more than we have shows our lack of gratitude by desiring a lifestyle above what’s been provided to us.
A controlled lifestyle displays discipline and self-control (a fruit of the Spirit). It means avoiding the extremes of consistently spending too much (not content today) and saving too much (not content about the future).
An unhealthy use of debt is often seen in tandem with the above. Those living above their means, and having an uncontrolled lifestyle, tend to have an unhealthy use of debt. Debt should be used as a last resort and have a means of repayment tied to it.
Finally, when we’re content we give cheerfully as an act of worship. What better way to praise the Creator of the Heavens and Earth than cheerfully giving back to Him? Giving breaks the power of money over us, which is extremely important. It’s hard to live a content life when we serve money as an idol. Check out Christopher Well’s article “A Shortcut to Generosity” if you’re looking to start your generosity journey as soon as possible.
Keep in mind that there are always exceptions but for most of us, these hold pretty true.
I love what Paul says about contentment and the desire for wealth in his letter to Timothy:
“But godliness with contentment is great gain, for we brought nothing into the world, and we cannot take anything out of the world. But if we have food and clothing, with these we will be content. 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.”
1 Timothy 6:6-9 ESV
Those who are content tend to see the following fruit in their life:
Give more, and do so cheerfully
Enjoy what they have
Are grateful
Deeper spiritual maturity
Even though we are all sinful in God’s eyes, but have been given grace and redeemed by the blood of Christ, all of these characteristics lead to spiritual maturity and spiritual wealth.
Contentment’s Impact on Wealth
Ironically, contentment tends to have a positive impact on wealth. I won’t say it always does, certain factors may prevent it, but it often does.
It’s strange isn’t it? Being content with less often leads to more. Why? is that?
If we’re truly living a content life and can see the fruit of it, then we should have the capacity to save more and give more. Free cash flow is the biggest contributor to accumulating wealth.
For example, if you decide to give 15% of your income and save another 20% for long-term purposes, you may only achieve this by consistently living below your means. There is no other way to part with 35% of your income unless you make a conscious decision to limit your lifestyle to the remaining 65%. This is the reality.
Those who are content also diligently save for the future and allow their money to grow uninterrupted, further accumulating wealth.
As Christians, we shouldn’t accumulate wealth as the end goal. Wealth accumulation is the outcome of being responsible stewards. The goal of the former is to amass as much as you can, while the goal of the latter is to honor God with your resources. Both result in wealth, but each is driven by a different heart.
In other words, wealth will fall into one of two hands: those who desire it and those who want to faithfully steward it.
If you haven’t already, check out our past blog posts around wealth:
Should Christians Accumulate Wealth by former member Deborah Meyer
How to Build Wealth While Heeding the Bible’s Warnings to the Wealthy by Ben Wacek
Conclusion
Contentment is a product of gratitude and faithfulness. Gratitude and faithfulness can be cultivated with prayer, accountability, community, and time in scripture. When we consistently practice contentment, we receive a spiritual benefit in becoming more like Christ but there’s also a high likelihood of increased wealth. The increase in wealth is simply another opportunity to worship the Father through faithful stewardship.
Don’t hesitate to contact one of our advisors to help guide you on your stewardship journey with managing your wealth.
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