By Brian Hoops –
No matter your religious beliefs, have you ever wondered what the greatest book ever written says about money and investing? Did you know there are over 2,350 verses in the Bible that deal with money and possessions?
Farming and agriculture were a way of life for many nations in the Bible, with wheat being one of the most widely grown crops. The Bible addressed how farmers should handle the crops they grew, and those principles are applicable today.
In the book of Proverbs, Chapter 11 verse 26: Solomon writes, “People curse the man who hoards grain, but blessing crowns him who is willing to sell.” Even back in Old Testament times, the Bible gave instructions to farmers to sell their grain at a profit and not to become greedy and hoard grain for an even bigger gain. Notice the key word in this scripture passage is “hoard.” The Bible says to prepare for the unknown and to save, however, hoarding is prohibited in the Bible.
In fact, in Proverbs 21:20 Solomon talks about saving for the future. “In the house of the wise are stores of choice food and oil, but a foolish man devours all he has.” This proverb is about saving for the future. Today easy credit has many people living on the edge of bankruptcy. The desire to keep up and to accumulate more pushes them to spend every penny they earn, and they stretch their credit to the limit. But anyone who spends all he has is spending more than he can afford. A wise person puts money aside for when he or she may have less.
What does the Bible say about borrowing money or using credit? In Deuteronomy 28:11-12, it states: “And the Lord will make you abound in prosperity, in the offspring of your body and in the offspring of your beast and in the produce of your ground, in the land which the Lord swore to your fathers to give you. The Lord will open for you His good storehouse, the heavens, to give rain to your land in its season and to bless all the work of your hand; and you shall lend to many nations, but you shall not borrow.” The Bible is clear regarding borrowing money — you shall not borrow money.
What does the Bible say about investing? I believe there are three keys to be noted.
Be a steady plodder. In Proverbs 21:5, it states, “The plans of the diligent lead to profit as surely as haste leads to poverty.” The Bible clearly states greed and hasty speculation lead to poverty, while slow, steady investing will lead to gain. This is especially true in investing as well as in farming.
Diversity. Ecclesiastes 11:1 and 11:2 state “cast your bread upon the waters, for after many days you will find it again. Give portions to seven, yes to eight, for you do not know what disaster may come upon the land.” In verse 6, Solomon writes “sow your seed in the morning, and at evening let not your hands be idle, for you do not know which will succeed, whether this or that, or whether both will do equally well.”
There are no guarantees. In, Ecclesiastes 11:4 and 5, Solomon writes: “Whoever watches the wind will not plant; whoever looks at the clouds will not reap. As you do not know the path of the wind, or how the body is formed in a mother’s womb, so you cannot understand the work of God, the Maker of all things.” In these versus, Solomon teaches that life involves both risk and opportunity. There are no guarantees in our lives, therefore we must be prepared. Just because life is uncertain, it does not mean we should do nothing — we need to face life’s risk and opportunities.
While this article does not imply that you will be a miracle trader by reading the Bible, it does offer a plan to follow concerning money and possessions.
Brian Hoops is president and senior market analyst of Midwest Market Solutions, Inc., a full-service commodity brokerage and marketing advisory service. Daily market commentary and trade recommendations are available on the Internet at www.midwestmarketsolutions.com or subscribe by e-mail at bhoops@iw.net, call toll free at (866) 203-9655, or write to Midwest Market Solutions, 1028 Broadway Ave., Yankton, SD 57078.
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