Updated: May 9
How do we avoid danger in finance? What should we do with wealth, how do we attain wealth and how do we guard our reputation?
Proverbs 22:1-4 says “A good name is to be chosen, rather than great riches and favor is better than silver or gold. The rich and the poor meet together, the Lord is the maker of them all. The prudent sees danger and hides himself, but the simple go on and suffer for it. The reward for humility and fear the Lord is riches, honor and life.”
Let’s break down these principles. First,
“a good name is to be chosen rather than great riches and favor is better than silver or gold.”
It’s easier said than done, but you should be more concerned about your reputation than your wealth. Your name will always be far more valuable than money. Often money and resources come to you if you have a good reputation.
When we let our testimony slip or our reputation slide, we discover that things start falling away from us. Just remember that your reputation is far more valuable than riches. The passage in Proverbs teaches us that if the rich and poor come together, then the value of money has little significance.
We should be investing in eternity, because no amount of money when you die is going to matter to you. On your deathbed, I guarantee you will not be concerned about why you didn’t accumulate more stuff in life.
The passage also shows us that we need to make a plan rather than just glossing over the warning signs. A wise man looks ahead and takes notes of issues before they happen and make adjustments in his life to avoid them. Sounds like simple advice, right? I could write all day about the examples of people we’ve seen at Lord and Richards, who have skimmed right past warning signs in their finances and rather, thrown themselves into it.
The final piece of advice from this passage, if you genuinely want to have riches, be honored or want a great life, then there are two key principles. First, fear God. That’s one of our core principles at Lord and Richards. Second, humble yourself before Him. Learn to say “Lord, I don’t know what the answers are, I don’t know what the path is ahead, but I’m going to ask you to guide me.” These principles are key for a person that will gain riches, honor and live a wonderful life.
"We should be investing in eternity, because no amount of money when you die is going to matter to you."
Of course, in the financial world, we’re currently seeing many warning signs. And the passage discusses us not sticking our head in the sand and being unaware of what could come, but instead developing a plan to avoid the danger.
Someone who refuses to acknowledge the warning signs God gives us is a simple person, or a fool, according to Bible vocabulary. I’m guessing most of you don’t want to be a “simple” person, so you want to avoid the danger and dive into riches, honor and life.
When we think about what it means to take care of your good name, from the standpoint of finance, operating your life, business and finances from a standard of excellence will mean so much more to you at the end of life than how much wealth you’ve accumulated.
You will experience tremendous satisfaction if you’re able to look back at your life and say “Everything I did, I did to the best of my ability. I honored God, I treated people right and I showed genuine love and concern for others.” That is a satisfaction worth living for.
But we’re usually taught the exact opposite about gaining riches. It’s our human nature that drags us into putting ourselves first. As a wise friend of mine once said, “there’s just two choices on the shelf. Pleasing God, or pleasing self.”
A good name means you put others first. You put God first, you put what the world values last, and you put people in front.
I meet with people like you every day to help them develop a plan to avoid financial dangers and to show them what it means to live a financially independent life for the glory of God.
To learn more about Lord and Richards, visit us online at lordandrichards.com