the Bible contains over 2 000 verses on money and most of those are still extremely relevant today it actually has specifics on how much you should save and even in the end of this video exactly how much to invest even investing strategies it's kind of crazy the 20 rule so this is in a few different places but we're gonna focus on one in the story of Joseph in the Bible he interprets a dream for the king in which there's going to be seven years of plenty followed by seven years of famine and to prepare for
that he recommends that they put away one-fifth of everything that they gain every single year for those seven years of plenty and by doing that they ended up having enough stored so that they could get through with the seven years of famine and actually really Prosper as a nation so that's actually like a great savings rate a great idea a great way to start up an emergency fund because there are times where you're going through an amazing time in the market and then there's times when there's economic crashes and people get into debt so having
a 20 savings rate is an amazing place to start off it even fits into the 50 30 20 rule that we still use today and it's super popular become a minimalist that's right so it doesn't exactly say minimalism but you get the idea the Bible talks a lot about being careful about being greedy of what other people have it also says that a person's true life is not made up of the things he owns no matter how rich he may be so in a few different places we see that how much money you have does
not correlate to happiness it doesn't give you self-worth you can't really take it with you although you can send it ahead so by not being greedy and realizing that how much money or stuff that you have doesn't really matter we get kind of these principles of minimalism and Frugal Living where you're not just trying to build up as much money as humanly possible or as much stuff and fancy cars and just trying to chase the promotion and more stuff instead we should be content with what we have we shouldn't constantly be caught up in this
Whirlwind of consumerism even though enjoying your life and having money is not a bad thing investing and being rich is not a bad thing which we'll talk about later in this video if that's like all you care about and that's what you get your sense of self-worth in then that's not going to lead to a happy and fulfilled life another thing that can ruin your life is debt I think we all know that debt is bad even though there are certain circumstances where it makes sense and it can be a good thing the Bible says
that the borrower will be a Slave give to the lender and that's literally what we're seeing right now when there's High interest Consumer Debt there's payday loans people buy stuff that they can't afford and then they have to go to work in order to pay for that stuff that's completely like destroying their lives got like 30 interest going on this and they're literally becoming a slave they're trading their life for stuff so we need to absolutely avoid any type of high interest Consumer Debt it'll ruin your life it's something that won't ruin your life is
this channel hopefully if you're getting any value out of this and want to support me don't forget to subscribe we're also giving away a thousand dollars to somebody who subscribes before we hit half a million hopefully by the end of the year so don't forget to subscribe if you want money you're gonna have to work for it a little sleep a little Slumber a little folding of the hands to rest and poverty will come on you like a robber and want like an armed man the Bible talks a lot about being lazy and that is
not a good thing it talks about somebody's being too lazy to actually take their hand out of the dish and feed themselves and the same applies to money in fact I would would say that like nobody is truly wealthy at least financially without putting in the workforce because even if you win the lottery or you inherit it you're not going to build a lot of the principles around money and it's not going to really feel the same or be as satisfying as when you put in the work and you look back at your hard days
working you have something to show for it that's how you build character by going through hard things and being wealthy is not just monetarily it's Health it's relationship it's understanding how to have money work for you so if you want any of those things if you want to create a business to move up in your job to get past this level where you are right now of maybe debt and living paycheck to paycheck it's going to take Hardware either learning things that will make you more money or actually physically working harder to make more money
I think we were actually made for work that's why a lot of people have a hard time in retirement there's a stat that you will actually die earlier if you retire early and that's because we lose a lot of our purpose a lot of our sense of self our sense of accomplishment so for me I used to have this goal of retiring when I'm 30 but now I don't actually think that that will be the goal I still want to have freedom to spend time with my family and not be working 24 7 but I
always want to have something that I can work on and produce because that's what I feel like I was made for now on that note it also talks about hard work bringing riches and saying that it's not actually bad to be rich in the next couple of points we'll talk about earning more money and different ways of investing but I feel like a lot of people think that it's bad to be rich or if you're rich you just took advantage of somebody or you're cheating the system somehow but it is not a bad thing to
work hard what we're designed for and then reap rewards of that hard work diversify your portfolio I know what you're thinking Gabe that's not in the Bible it is in there I'm not crazy my mother had me tested divide your portion into seven or even eight for you do not know what Misfortune may occur on the earth for that that seems pretty clear that it's telling you to be smart about managing your money telling you to diversify your portfolio don't just have everything in real estate don't just have everything in stock don't just have everything
in apple it's important to be good stewards of your money not be gambling on stuff trying to get rich quick this is something that I actually need to work on I'm mostly in real estate right now I do have some stocks but I am trying to balance out my portfolio a little bit because it's still true today you don't know when there's going to be a giant housing crash you don't know when the stock market's gonna drop 50 we don't know what the future is and therefore we shouldn't keep all of our eggs in one
basket it's important to diversify all right so before we get into what I think is the most important one we got a couple that kind of go together here don't love money we've all heard that money is the root of all evil but that's not actually how it goes it is the love of money that is a root of all evil money in itself is not a bad thing it's currency it's what the world has operated on since like forever but it is the love of money it's having it become the most important thing of
your life it's one you care about that more than spending time with your family more than your relationships more than your faith if that's all that you're thinking about that will inevitably kind of ruin your life you see people all over the world that have millions of dollars and they're depressed they're suicidal they're are overdosing and you think that they have everything they could ever want but it's because all they care about is money and themselves and that is not how you have a good life that's how you ruin your life and we know it's
not bad to have money because it also says that you should leave an inheritance for your children and you can't leave an inheritance for your children if you have no money and you're donating everything that you have like it's good to donate there's like a billion places in the Bible where it talks about a giving to the poor giving to the needy taking care of your family giving back because a lot of us are just so incredibly blessed but also says that we should be investing and then saving up so that we can give our
kids some money that's a Biblical principle that's literally something that it says in the Bible and it also says his children's children that's generational wealth that's saying that it is not a bad thing it's actually a good man who builds up a company that is big enough or a money that is big enough that his family is set for the future what should you ask for there's a story in the Bible where Solomon is dreaming he's in this dream state and God come comes to him and asks what do you want do you want wealth
do you want kingdoms what do you want ask me and I'll give it but Solomon didn't do what probably most of us would do and ask for riches ask for kingdoms ask for a Tesla or a million dollars he asked for wisdom and through that wisdom he gained kingdoms he gained wealth and that's what we should really be seeking we should be seeking wisdom because at least for me the more that I have learned from these different books even through devotions and church as I've learned more stuff I've learned things that have built me more
wealth it's increased my relationships improved my family situation improved my finances a ton so wisdom is a lifelong journey it's something we should all be striving for and the wiser you are generally the wealthier you will become if that's something that you're trying to become wise in and a very wise decision would be to subscribe to this channel because it is free and it hopefully has good information I hope you liked this video I thought it was really cool uh so uh subscribe
