This is my second blog in  a series of three about health, wealth and relationships.

 You can read the first one about health matters here.

Managing wealth is a precarious balancing act

With just a little time and effort you can make a big difference to your wallet

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Financial conditions can suddenly become unstable for any country or a person. Trail marks and footprints of economic catastrophe are embedded in our minds over centuries with the most recent one in 2008. It created shockwaves of insecurity, resentment and distrust towards banking and the financial institutions.

I am writing this blog is to share with anyone who wants to get their finances in order, and free them from the clutches of debts and financial misery. I know that if someone like me who was deep in debts and hit rock bottom managed to do it then you can do it too.

Caveat: This is not financial planning advice or how you should manage money. You are in charge of your purse.

Spending and saving, wisdom and power is your choice. Choose wisely!

If you need help in kick-starting your wisdom financial journey then I would strongly recommend speaking to an expert financial advisor who can help you take a good look at budgeting, managing debts and prudently investing.
Starting with a basic budgeting spreadsheet is an excellent place to start.

Financial Wisdom

I am sharing my wisdom in wealth based on personal experience underpinned by proven economic principles which work in tandem to understand the practice of how money works as mentioned above.
Following the practicalities and the principles of money has not only made me financially comfortable (not luxurious) but also debt and stress-free.
Graciously I am blessed with the necessary creature comforts and beyond.

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The general attitude towards money

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Have you heard these words, money runs like water, money slips through his fingers, he has more money than sense? Well, I can identify with some of these sayings.

Money did slip through my fingers.

Millions of people may have resolved to sort out their finances this year but despite their good intentions on New Year’s Eve, months later, the majority will have taken no action.

There are lots of sensible reasons why some people never get around to dealing with their debt or working out their budget.

  • Many take the view that life is too short.
  • Others may start to get their statements out and then give up on the basis that it’s all too complicated.

Both are wrong.
Life expectancy is actually getting much longer, and millions of today’s 20-year-olds are now expected to live to be 100. For that reason, the sooner you get on top of your finances, the longer you’ll have to enjoy your life, rather than spending most of it worrying about money.

How to build solid financial principles

Building solid economic principles begin with developing your inner person, which is your heart and mindset. This will determine your perception of your relationship with money. You will encounter a paradigm shift. We know that no building can be built without deep and robust foundations.
The same applies to your finances.

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Origins of King Solomon's principle

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The majority of financial advice is generic but to understand the complicated things, the basics must first be mastered. The Bible and specifically Solomon’s writings in the Book of Proverbs and Ecclesiastes help me build a foundation for both monetary and spiritual wealth.

Generally, the Bible is associated with the Christian religion. But as I discovered it just doesn’t contain religious writings, it is much more than the do’s and don’ts. Perhaps you are not familiar with the Biblical books. Even if you are, you might be unaware of the principles that have stood the time over several millennia and that work just as well today!

King Solomon Reigned from 970 to 931 BCE.
The Bible says that Solomon was the richest man who ever lived and also the wisest ever to live (1 Kings 4:31) It is estimated that today his net worth could be around $2.1 trillion. https://www.quora.com/What-are-wealth-difference-of-King-Solomon-vs-Mansa-Musa.

The love of money is the root of all evil

10 Financial Principles from King Solomon

1. Turn away from greed

Greed brings grief to the whole family, but those who hate bribes will live – Proverbs 15:27.
Such is the fate of all who are greedy for money; it robs them of life. – Proverbs 1:19.

Greed can suck you in and never spit you back out. It can take over every part of your life and ABSOLUTELY rid you of any and all joy. Like cancer, it filters into every part of your being and will ruin not only yourself but also the people around you. Because of this, Solomon talks quite often on the need to turn away from the selfish desires of greed. Often exemplified in the mega-wealthy institutions and organisations that exploit the poor for personal gain.

2. Diversify your Life

Invest in seven ventures, yes, in eight; you do not know what disaster may come upon the land. – Ecclesiastes 11:2

Diversification is often brought up specifically concerning investing. However, I believe diversification must come in all forms of life; everything from diversifying your sources of income to those areas of life you choose to study.

The man who is solely a specialist will inevitably falter when it comes to areas outside of his speciality. However, the man who learns from varied sources diversifies where his income comes from as well as his investments will not feel the full force of a fall.

This verse speaks directly to diversifying your investments. It’s crazy to think that diversification as a staple of investing has gone back as far as biblical times, but here Solomon is giving us financial advice.

Cast your bread on the surface of the waters for you will find it after many days. Ecclesiastes 11:1

‘Cast your bread’ refers to Solomon sending grain and notice how Solomon says ‘waters’ to indicate the need to diversify by sending out multiple ships in case of loss.

But, from the perspective of Solomon, what he’s referring to, is don’t put all of your grain on one ship. Solomon was involved in international trade with many merchants (1 Kings 9:26) and one of the largest commodities of the times were grain.

These verses have such great correlation to today but must be studied to fully understand them.

3. Reduce Debt

Debt is something that has become so widely accepted in our culture that it infiltrates nearly every purchase.

The Acronym for DEBT
Detrimental
Effects of
Borrowed
Transactions

Companies play to our current culture of being immediate satisfaction robots. We want everything right now, and don’t want to pay for it until later.

The rich rules over the poor and the borrower becomes the lender’s slave. – Proverbs 22:7

Not be a man who strikes hands in pledge or puts up security for debts; if you lack the means to pay, your very bed will be snatched from under you. – Proverbs 22:26

Solomon warns us about taking on debt.

To me, this is an indication that debt should not be taken lightly and, in many cases, should not be taken at all.

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4. Advice Given is Only as Good as the Advisor

As iron sharpens iron, so one person sharpens another. – Proverbs 27:17

The idea behind this verse is that the sharper/harder the iron being used, the sharper the irons will both become. If you’re trying to sharpen yourself against a soft metal (i.e. a person that is weak in their faith) neither of you will become any sharper.

Without counsel, plans fail, but with many advisers, they succeed. – Proverbs 15:22
Whoever ignores instruction despises himself, but he who listens to reproof gains intelligence. – Proverbs 15:32

The reason that this advice is so valuable is because our views can be tainted. If you’re not careful, the advice you could be receiving could be in the best interest of the person giving it rather than yours.
Heed this advice.

5. Take Hold of Opportunities

Great opportunities are always there, and you need to identify them and take them.
Often-times it requires us to walk through doors. You can’t merely sit on the sidelines hoping something will happen. You have to get out there and work for it.
Solomon stresses the need to seize opportunities when they arise. Begin working for the Lord, and through that, he will guide your path.

He who watches the wind will not sow, and he who looks at the clouds will not reap. Ecclesiastes 11:4

This verse speaks to the overly cautious. The people who wait for the absolute perfect time to do something. There isn’t an ideal time, so start now!
If a farmer waits too long to sow, there will be nothing to reap. If you wait too long to witness, the opportunity may be gone.

6. Hard Work is Important

Solomon spoke of the importance of working hard and shouldn’t be ignored.
Take a lesson from the ants, lazy bones. Learn from their ways and become wise!

Though they have no prince or governor or ruler to make them work, they labour hard all summer, gathering food for the winter. – Proverbs 6:6-8
A little extra sleep, a little more slumber, a little folding of the hands to rest – then poverty will pounce on you like a bandit; scarcity will attack you like an armed robber. – Proverbs 6:10-11
Good planning and hard work lead to prosperity, but hasty shortcuts lead to poverty. – Proverbs 21:5

This is only a portion of verses I found on hard work. It’s about one of the wealthiest men to ever live, and a man who pleased the Lord (1 Kings 3:10) got to those places through hard work and determination.

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7. Hard Work is not Enough.

If the iron is blunt, and one does not sharpen the edge, he must use more strength, but wisdom helps one to succeed. – Ecclesiastes 10:10

Here, Solomon makes it clear that one cannot JUST be a hard worker. You must also use intelligence in your attempts to get work done.
Wisdom allows for efficiency and effectiveness
When hard work and smart work are combined, the result is much higher than either one alone, and Solomon illustrates that idea wonderfully through his writing.

8. Be Generous

Generosity is one of the critical traits of a successful person.
Throughout Proverbs, Solomon writes on the importance of giving and specifically helping the poor.


Do not withhold good from those who deserve it when it’s in your power to help them. Proverbs 3:27
Give freely and become wealthier; be stingy and lose everything. – Proverbs 11:24
The generous will prosper; those who refresh others will themselves be refreshed. – Proverbs 11:25

In our minds, or at least my own, keeping as much money as possible to myself would make me wealthy. However, Solomon is saying just the opposite. Be stingy and lose everything he says! I think this relates not just to monetary wealth, it extends to having a great relationship with family and friends.

Blessed are those who are generous because they feed the poor. – Proverbs 22:9

How often do we get trapped in our own little worlds and forget about those around us?
Especially here in the western world where for the most part we have everything at our fingertips. Even the poor in the western world have it better than a majority of the rest of the world. So, in summary, give freely, and you will be given back!

9. Never Stop Learning

One of the areas that are important in finding financial success is to educate yourself.
Charlie Munger, Warren Buffett’s right-hand man, has a quote from one of my favourite business books, Poor Charlie’s Almanack:

‘Spend each day trying to be a little wiser than you were when you woke up. Discharge your duties faithfully and well. Step by step you get ahead, but not necessarily in fast spurts. You build discipline by preparing for fast spurts. Slug it out one inch at a time, day by day. At the end of the day, if you live long enough, most people get what they deserve’.

This is a topic King Solomon took seriously and in part lead to his vast wealth, both financially and spiritually.

Joyful is the person who finds wisdom, the one who gains understanding. For wisdom is more profitable than silver, and her wages are better than gold. – Proverbs 3:13-14
Wise words are more valuable than much gold and many rubies – Proverbs 20:15

Solomon, the richest man who ever lived, is telling us that understanding, and wisdom are more profitable than gold and silver, something he had more of than anyone EVER!

10. Rest is Important

You can’t burn the candles at both ends without eventually burning up completely. Hard work is essential, but so is rest.

When I think of rest, I like to compare to working out at the gym. I can’t possibly apply the same intensity to a 5k as I can to a 100-meter sprint. A rest/work balance is necessary not only in working out but also in life in general.
Staying sharp equates to proper rest.

A time to kill, and a time to heal; A time to break down, and a time to build up. – Ecclesiastes 3:3

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Final thoughts

King Solomon was a man of great wealth who understood the implications of devoting one’s whole life to financial endeavours. He knew of the problems that could come from such a focus, so he chose instead to spend his time on relentless pursuits. Pursuing knowledge and wisdom, giving to the poor, and praising his Creator.

Would you like to learn more about understanding the financial principles, developing your relationship with money and seeing the impact it can have on your wealth? Then book a free 60 minutes no obligation consultation with me

Be wise, be successful, be wealthy!

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2 thoughts on “Wisdom in Wealth”

  1. Brilliantly expressed!!! 😊 I loved the section of generosity. Which is monumental in one’s success in building wealth. I have learned & been blessed particularly by following that principle. 😊💰💰💰

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