The United States economy is a consistent topic of concern and debate as we settle into 2024. A recent study reported by Intuit/Credit Karma concluded that over half of Americans reported a worsened financial situation at the close of 2023, and 65% noted they were unable to reach a significant financial milestone due to economic conditions.1 Conversely, however, Gabriel Cortes of CNBC recounted that as 2023 came to a close, inflation cooled, the labor market ended the year strong, and all three major US indexes experienced significant growth.2 Nobody seems capable of or willing to draw concrete conclusions about the state of things, and people, understandably, are worried.
As Christians, we should seek to help them view finances through the lens of Scripture, because the Bible contains much wisdom for understanding both fear and money and knowing how to navigate the realities of a challenging economy
In a recent article in Forbes magazine, CEO and recruiting veteran Jack Kelly clarifies how the current US economy and job market are impacting Gen Z’s outlook on the future. Referencing a study by Ernst & Young, Kelley summarizes, “They’re plagued with concerns about finding stable, well-paying jobs. Without a secure position comes uncertainty and discomfort. Understandably, there’s a lament that they won’t be able to have the American dream of buying a home, starting a family, and doing better than their parents.”3 This is despite 39% of those respondents reporting that they held both a full-time job and a “side hustle” to make ends meet.4 These insights correlate with those I’ve gained teaching a personal finance course for college freshmen. Repeatedly, they voice concerns about both short-term and long-term financial security, uncertain of how they will move out of their parent’s home after graduation and meet their own basic needs, much less thrive enough to make major purchases without fear.
Although everyone should expect to encounter financial difficulties at some point in life, the inordinate amount of anxiety teens and young adults feel regarding money should cause concern for those of us who influence the next generation. In particular, as Christians, we should seek to help them view finances through the lens of Scripture, because the Bible contains much wisdom for understanding both fear and money and knowing how to navigate the realities of a challenging economy.
Jesus Warns That Money Will Rule You If You Let It
In his Sermon on the Mount, Jesus addressed what it meant to live as a faithful citizen of God’s Kingdom. He addressed anger, lust, divorce, retaliation, and more before turning his attention to that most meddling of subjects: money. His message took a realistic view of personal finance, acknowledging that people will need provisions when he instructs on giving to the needy in Matthew 6:1-4.5 He went on to tell his listeners to be less concerned with treasures on Earth than they are with treasures in Heaven, implying that what comes after this life is far better and more important.
Not content to provide simple platitudes, however, Jesus reached a pivotal point in his lesson when he stated in Matthew 6:24, “No one can serve two masters, for either he will hate the one and love the other, or he will be devoted to the one and despise the other. You cannot serve God and money.” And what is a common way we serve money? We worry about it. Jesus continues, “Therefore I tell you, do not be anxious about your life, what you will eat or what you will drink, nor about your body, what you will put on. Is not life far more than food, and the body more than clothing?” (Matthew 6:25).
No one can serve two masters….You cannot serve God and money
In short, Jesus taught that money is a great servant but a terrible master. It is a daily necessity and can be used to bless others, but its accumulation and dispersal cannot be primary concerns in life for Christians. To make it one is to elevate money’s importance above faithfulness, to make greed and worry more important than generosity and trust in the God who provides all things for his people.
Key Scriptures for Combating Money Woes
It’s one thing to know that worrying about finances is unbiblical, but it’s another altogether to help discipline ourselves and others to resist the temptation to worry when a money crunch comes. Here are a few key verses to bear in mind:
Genesis 22:14
“So Abraham called the name of that place, ‘The LORD will provide’; as it is said to this day, ‘On the mount of the LORD it shall be provided.’”
The narrative of Abraham offering his son Isaac serves more than one purpose in the Bible. It instructs us on the posture of obedience and faith we should all seek to emulate: Abraham was willing to sacrifice Isaac because he trusted God would raise him from the dead to complete his promise to him. In typology, it points toward the coming Messiah, the only Son whom God would offer on the cross to atone for sin. Generally, however, Abraham’s actions serve as the context for an important lesson about God’s provision. That is, God will always provide what is needed for us to be obedient to his Word, even in the mundane parts of life.
Psalm 50:10-11
“For every beast of the forest is mine, the cattle on a thousand hills. I know all the birds of the hills, and all that moves in the field is mine.”
These well-known words come in the middle of a rebuke from God against the Israelites for their empty worship, but they speak to a significant truth: God owns everything. Maybe more to the point, the God who owns everything is the one who tells us not to worry because he will meet our needs. This is not a promise that we will not encounter hardship or that we won’t deal with the consequences of our poor financial choices, but it is a reminder that God sees our hardships, knows our fears, and will act on our behalf.
Philippians 4:4-7
“Rejoice in the Lord always; again I will say, rejoice….The Lord is at hand; do not be anxious about anything, but in everything by prayer and supplication with thanksgiving let your requests be made known to God. And the peace of God, which surpasses all understanding, will guard your hearts and your minds in Christ Jesus.”
Paul’s words to the church at Philippi appear rooted in his knowledge of the prior two passages as well as his first-hand experience of relying on God to meet his practical needs and to inspire others to do the same. As he concluded the letter, he mentioned their financial support of his ministry and God’s ability to meet every need.
We all must pay careful attention to our finances and seek to be good stewards, but we should never view the accumulation of wealth as a primary goal or as an indicator of faithfulness to God
Although we live in a different part of the world, far in the future, we are no different from Abraham and Paul when it comes to our needs. Neither will be any generation to come. Certainly, the Lord has not changed from being our Provider. We all must pay careful attention to our finances and seek to be good stewards, but we should never view the accumulation of wealth as a primary goal or as an indicator of faithfulness to God, as some would suggest. Money is a tool, a resource for life—nothing more and nothing less. When a Christian, especially a young adult Christian living in uncertain economic times, views money rightly and understands God’s capacity and desire to provide, he or she will have no need for fear.
Dr. Jason Barker (MDiv, DMin) has served as a pastor and educator for twenty years. He is the Dean of Academics at Oak Valley College in Rialto, California, and serves as an adjunct faculty member at four other colleges and seminaries. He, his wife, and their four children live in Southern California.