Wisdom-Trek / Creating a Legacy

Welcome to Day 63 of our Wisdom-Trek, and thank you for joining me.

This is Guthrie Chamberlain, Your Guide to Wisdom.

It's Only Money (Part 6)

Thank you for joining us for our 7 day a week, 7 minutes of wisdom podcast. This is Day 63 of our Trek, and today we will look at setting the proper priorities for the use of wealth. Setting priorities in all areas of your trek of life is important, but how you set priorities with money will largely determine how you are able to set priorities in other areas that impact building your living legacy.

We are recording our podcast from our studio at The Big House in Marietta, Ohio. In addition to the yard sale this morning, we had the blessing of sharing the 4th birthday with our granddaughter Aurora. She is "Princess Aurora" to family members, and we shared the afternoon with Aurora, her three siblings, and other family.  My Dad and Paula’s mom were also there. It is grand to see four generations of family celebrating together. As a proud Gramps, I have included a couple of pictures in today’s journal – Day 63.

We are continuing today on our “It’s Only Money” Trek. Each day we will explore a different trail on our Trek to true wealth.  As we accumulate wealth, it is also important to set priorities for the use of that wealth. So, let’s continue on our trail to financial independence as we examine these truths.

Biblical Priorities for the Use of Money

Proverbs has much to say on the subject of our financial obligations. While there may be some disagreement with the exact order of the priority of the following obligations, I believe that we will all agree that these should be priorities which govern the use of the money God has permitted us to manage.

1. We should give to the furtherance of the Good News.

In the Old Testament, God carefully prescribed the tithes and sacrifices which He expected from His people. While we are no longer under the law, the spirit of giving still applies to us today. Proverbs teaches the need to give of the abundance He has provided, and that this will result in even greater blessings.

Proverbs 3:9-10, "Honor the Lord with your wealth and with the best part of everything you produce. Then he will fill your barns with grain, and your vats will overflow with good wine."

Paula and I have personally found that our giving first to the Lord has developed our faith, and we have never lacked any necessity.

2. We have an obligation to pay our debts to others without delay.

Within the business world and for many personally, there is a tendency to withhold payment as long as possible. We should never withhold payments beyond the due date, even if there is a grace period. Others are depending on our prompt payments, even large companies. This also includes the taxes we owe. I don’t like paying more in taxes than is required, but if you owe it, then pay it.

Romans 13:6-7,  "Pay your taxes, too, for these same reasons. For government workers need to be paid. They are serving God in what they do.  Give to everyone what you owe them: Pay your taxes and government fees to those who collect them, and give respect and honor to those who are in authority."

If you are fortunate enough to own a business and have others working with you, always pay on time, including withholding taxes that are due.

James 5:4, "For listen! Hear the cries of the field workers whom you have cheated of their pay. The cries of those who harvest your fields have reached the ears of the Lord of Heaven’s Armies."

3. We have a responsibility to provide for the needs of our own household.

While this concept is woven throughout Proverbs, it is clearly stated in 1 Timothy 5:8, "But those who won’t care for their relatives,