Money and the Fool

For those of you new to Free Money Finance, I post on The Bible and Money every Sunday. Here's why.

Today I'm posting Proverbs 17:16, a verse that talks about money in the hands of someone who doesn't know how to handle it. From the NIV:

Of what use is money in the hand of a fool, since he has no desire to get wisdom?

Unfortunately, this verses seems to describe many Americans these days. They earn (and thus have) a good amount of money, but they don't take the time to learn how to manage it. Worse than that, most don't seem to want to learn how to make the most of their money. I don't know why -- perhaps they think it's something that's "obvious" so there's no need for educating themselves. So they go through life spending more than they earn, not saving enough, and making many other poor money moves. Ultimately they get to retirement to find that "work longer" is their only viable retirement choice. Ugh!

But those who do get wisdom and learn how to manage their money end up in a far better place. They become financially free! And if they do very well, they end their working careers with a very safe (and fulfilling) retirement.

Your thoughts?

Comments

[Robert Jacobs]

I believe the difference here is hope. Those with hope will take the initiative to manage GOD's resources well, while those lacking hope feel what is the use and they don't care. I commonly see this when I provide financial counseling to those in poverty.

[Sarah]

Do you think the "wisdom" referred to here is really exclusively, or even primarily, about money management?

[FMF]

Sarah -

Do you?

[Matt]

There are more avenues today that take the wisdom out of managing your life and we are convinced these are the norm.

[Jose]

It's not just about wisdom, it's about discipline and understanding what you really need to be happy IMHO). Although material things are nice they aren't really necessary to be happy, I'd rather have a nice safety cushion in an account somewhere than a shine (insert vehicle here) in the driveway. Then again there's that old adage, " a fool and his money are soon parted".

[Nick @ ayoungpro.com]

I like your take on this. I know a few people who make 3-5 times more than I do, yet have a lower net worth than me. What good is a large income if you don't put it to work for you?

[Rob @FinancialSprout]

Many people think their rich because they live lavishly and spend all of their money every paycheck. The wise person is definitely those who are well invested and financially free. Well put.

[Kevin @ simplelivingwithgod.org]

A fool is someone who lives in disregard of God. Spending as much or more money than one has on selfish pleasures is foolish.

I think there is a third alternative. We automatically assume the answer is spend less than you earn and save as much as you can. One can also live life as a faucet rather than a bucket. It's possible to choose not to retire at all but live simply, save enough for unexpected emergencies, and allow resources to flow where your heart is.