How to Not Spend Money Like a Fool

Let’s Talk About What We Feel Weird Talking About: Our Luxury

Spending money is the American way of life. Saving and giving might not be, but Americans have been known to drop a trillion dollars on things we don’t actually need. Of course, consumer spending is a huge chunk of the economy and it’s not going anywhere any time soon. Spending is something we do and it helps keep this country afloat. But you can spend money foolishly or you can use it wisely.

With respect to money, we are simply holding on to what God has given us. My favorite book on stewardship is Randy Alcorn’s little book on managing God’s money (even if I don’t agree with all of his strategies). And that’s an essential starting point. You are holding on to your wealth as a caretaker. 
And you are most certainly wealthy or you belong to a wealthy family. But what are you going to do with that wealth?

Saving and giving are essential concepts to understand and implement, but even if we don’t all do those things, we all spend money. Does the Bible say anything about how we should spend our money? Not surprisingly, it does. It equips us with very tactical wisdom to show us how to spend well and spend wisely.

The Proverbial Dollar

The book of Proverbs has an embarrassment of riches when it comes to money wisdom. Embedded in the overall pattern of save-spend-give there is the two part step of pursuing righteousness first and then enjoying wealth as gift from God. Proverbs 14:24 says, “The crown of the wise is their wealth, but folly of fools brings folly.” If you are wise, you likely will have wealth. And that wealth is a crown. It functions as a visible indicator of your wisdom. This crown is to be seen so that others might see the allure of wisdom. If we wear ourselves out to get riches, we miss the point entirely. It has wings and will fly away anyway (Prov.23:4-5). The point is not to have it. The point is to use it (saving, give, spend). And the way you spend your wealth can function as a beacon for fools that you are wise in how you go about your business as a consumer. 

There’s a difference between spending and squandering. Proverbs 23:19-21 indicate that we ought not squander our money simply on temporary physical excess:

19 Hear, my son, and be wise,  and direct your heart in the way.20 Be not among drunkards or among gluttonous eaters of meat,21 for the drunkard and the glutton will come to poverty, and slumber will clothe them with rags.

Likewise, Proverbs 29:3 (He who loves wisdom makes his father glad, but a companion of prostitutes squanders his wealth.) says we ought not squander money on temporary sexual pleasures. Again, God seems to be anti-squandering, not anti-spending.

“Whatever Your Appetite Craves”

In perhaps the most revealing text about how God views his people and their relationship to money, Deuteronomy 14:24-26 reads, 

24 And if the way is too long for you, so that you are not able to carry the tithe, when the Lord your God blesses you, because the place is too far from you, which the Lord your God chooses, to set his name there, 25 then you shall turn it into money and bind up the money in your hand and go to the place that the Lord your God chooses 26 and spend the money for whatever you desire—oxen or sheep or wine or strong drink, whatever your appetite craves. And you shall eat there before the Lord your God and rejoice, you and your household. 

In describing the tithe, God tells Israel that when he blesses them, they give back in worship. But if it takes too much effort to take the tithe to the place of worship, they could sell it and spend the money for whatever they desired. Strong drink, oxen, whatever. “Whatever your appetite craves.” That’s how the Bible describes discretionary spending. But even this is not squander because notice that it is enjoyed “before the Lord” and that there is rejoicing in his presence. It is spending with an eye toward heaven, knowing that he has blessed and so we enjoy spending a portion of our wealth before the Lord.

“The Rich in This Present Age”

 At the end of 1 Timothy, Paul describes two different types of wealthy people: those who want to get rich (1 Tim.1:6-10) and those who happen to be rich (1 Tim.6:17-19) for whatever reason. For those who desire to become rich, the apostle gives a warning. With that desire comes temptation that can easily lead to ruin and destruction. For those who are wealthy, he gives a responsibility:

17 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. 18 They are to do good, to be rich in good works, to be generous and ready to share, 19 thus storing up treasure for themselves as a good foundation for the future, so that they may take hold of that which is truly life.

Spend your money. But do good. Be wealthy in good works. Maybe spend some of that lovely green on an amenity for those who have few. Perhaps bless someone with a book. Buy someone a coffee. And enjoy it there before the Lord your God and rejoice, you and your household. 

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