Solid economic advice for today

Every day the media is filled with economic news. Stimulus checks. Infrastructure bills. Tax hikes. Tax cuts. Inflation. Deflation. How do we navigate the maze of economic news? How do we make good financial decisions? Once again we go back to the Word of God!

Two of the wisest men who ever lived- Solomon and James- both give us excellent financial advice. Solomon was the wisest person who ever lived. Wisdom is skill in living. It is living life in a way that pleases God. He said, “Cast your bread upon the waters: for you shall find it after many days. Divide a portion to seven, and to eight; for you do not know what evil shall be upon the earth” (Ecclesiastes 11:1-2).

Solomon makes two points. First, launch the ship. Casting the bread upon the water is launching a ship. Simply launching a ship to buy and sell does not guarantee a profit but if the ship is not launched there will be no profit! God tells us to take risks. He wants us to be entrepreneurial.

In life we are tempted to stop. We are tempted to be too cautious. Colonel Sanders started Kentucky Fried Chicken at age 65. Noah Webster completed his American Dictionary of the English Language at age 70. It is never too late to launch the ship!

Second, there must be diversification. Solomon said, “Divide a portion to seven and to eight…” (Ecclesiastes 11:2). There must be diversification. The wise person does not put all their eggs into one basket. Diversification is one of the keys to financial success.

James, the half brother of Jesus, also gave excellent financial advice. James said, “Come now, you who say, ‘Today or tomorrow we will go to such and such a city, and spend a year there and engage in business and make a profit.’ Yet you do not know what your life will be like tomorrow. You are a vapor that appears for a little while and then vanishes away (James 4:13-14).”

James is not anti-capitalism. He is not anti-business. He is not teaching against planning. He is not condemning a solid business plan. James is reminding his readers of God’s sovereignty.

James also makes two points. First, life is uncertain. He said, “You do not know what your life will be like tomorrow.” The Book of James was probably the first book written in the New Testament. James faithfully pastored the church of Jerusalem for ten years. They were scattered throughout the Roman empire due to persecution. He reminded them that life is uncertain!

Second, life is short. “You are a vapor that appears for a little while and then vanishes away.” Our lives are short. James is basically saying, “God is sovereign. He works through providence. God may have plans that change your plans.”

As we work and plan and prepare we must remember that God may have different plans for us. Joseph was looking for his father’s animals and was sold into slavery. God sent him into Egypt to later save the entire family. Joseph said to his brothers years later, “But as for you, you meant evil against me; but God meant it for good, in order to bring it about as it is this day, to save many people alive” (Genesis 50:20).

Peter, James, John and Andrew had a thriving fishing business. They were working hard, investing in their business and Jesus called them to be disciples!

Let’s work hard. Life is a gift. We work for God. Our works matters to God. Let’s take risks and diversify. Let’s be reminded that life is uncertain. Life is short and God is sovereign. Let’s make wise financial decisions!

Ethan Hansen is a pastor at Faith Bible Fellowship in Big Lake.