One of the core disciplines of becoming a Christian is to exercise proper Biblical financial stewardship. Jesus mentioned many times in the Gospels how we must become good stewards of what God has entrusted to us. Through parables, He showed us what happens to those who are good stewards (they get rewarded) and those who are bad stewards (they get punished). [For Biblical reference, read The Parable of the Three Servants in Matthew 25:14-30]
But how do we become good financial stewards?
* Tithe faithfully and consistently.
God commands every believer to give 10% of their income to the church. This comes both with a promise and a curse. If we don't tithe, then we are robbing God and will suffer consequences. But instead of focusing on the negative, we should focus on the positive. If we give our tithes to the church, then we will receive a thousandfold return of blessings. Not to mention that we will be protected from disasters and everything we do will be blessed and successful. [Read Malachi 3:8-11]
* Become wise spenders.
God doesn't want us to spend frivolously for things we cannot afford. He instructs us to become wise spenders. How do you spend money wisely? By creating a budget and sticking to it. We should spend first on what we really need before buying what we want. There is a big difference between NEEDS and WANTS. Our spending priority should be for our needs, not our wants.
* Get out and do not be in debt.
God doesn't want us to become indebted to anybody. In fact, the Bible considers being in debt as a curse. Whoever is in debt is a slave to the lender. This is not the life God wants for us. Therefore, we should strive not to buy things on credit and if there are any existing debts, to get out of it as soon as possible. One way to avoid going into debt is by (1) becoming wise spenders and (2) saving enough money for emergencies. [Biblical Reference: Proverbs 22:7]
* Give generously.
The world thinks that in giving we are actually losing money. But the Bible teaches that in giving, God is able to bless us more. The Bible is full of examples of people both in the Old and New Testament who gave generously of the resources that they have and as a result, were blessed immensely. These people were never in need of anything because God provided adequately for them. This is how God wants us to manage our current resources as well. [Biblical references: 2 Corinthians 8:1-15; Philippians 4:10-20]
Most of the tips above are contrary to what the world teaches. The world wants us to keep spending, get into debt and to keep all the money we earn to ourselves. But the Bible teaches differently. Biblical financial stewardship involves giving generously, spending wisely and avoiding debt. God's plan for us is to live a prosperous life (Jeremiah 29:11) but we can only do so if we also become good financial stewards.