Introduction⤒🔗

In the previous article we shared some thoughts about wealth. We saw that being rich in itself is not an evil. Several of God's dear children in both the Old and New Testaments were blessed with many earthly possessions. Calvin even encouraged the accumulation of abundance, not for selfish use, but for the furtherance of the kingdom of God. In this article we would like to take a closer look at this accumulation of wealth.

The Ministry of Giving←⤒🔗

Ursinus, one of the authors of the Heidelberg Catechism, answered the question (in connection with the 4^th petition of the Lord's Prayer) whether it is lawful to pray for riches, as follows, "It is, however, certainly right and proper to desire riches, if we remove all ambiguity from the word, and understand by it things which are necessary for the support of life."¹ Beautifully he added, "For they are considered truly rich, who enjoy a sufficient amount of the things necessary for the support of life and are contented therewith" (emphasis added). Ponder this statement for a moment! Is that also how we would define the earthly rich – to have enough and thus to be content?

Having defined the term riches, Ursinus concluded, "Therefore they are certainly to be sought and prayed for at the hands of God, inasmuch as we are to desire such things as are necessary for nature, and for the position and office which God has assigned us in life." Not every one of us has the same position and calling in daily life, yet each of us has the calling (1) to labor for our own bread and (2) to relieve the needy. Both these aspects we find in Paul's exhortation to the slothful in Thessalonica, "Now them that are such we com­mand and exhort by our Lord Jesus Christ, that with quietness they work, and eat their own bread," after which he immediately adds, "But ye, breth­ren, be not weary in well doing" (2 Thessalonians 3:12-13).

In short, God requires us faithfully to labor to provide for ourselves and our families, and also to fulfil the ministry of giving to the needy.²

Accumulating Wealth←⤒🔗

In order to fulfil this two-fold calling we need to obtain the needed resources. In this context, the word accumulation refers to the making, using, storing, and spending of money. Many people think that to give is gracious, but to gain is wrong.³ Obviously, to gain money is a must in order to provide for yourself and others. God clearly teaches us in the parable of the talents that He expects us to manage our talents (such as time, strength, health, and money) with the intent to make a profit (see Matthew 25:14-30).

The manner in which we gain our money is obviously subject to the law of God. We must labor for our money in a diligent, responsible, and wise manner. In this connection of honest and faithful labor, we must emphasize one of the main objections against accumulating money when it is by gambling, betting, and lotteries. The pursuit of wealth through these means is based on greed and so-called luck, and it includes a great deal of poor investment.⁴

Also consider the following quote from the Encyclopedia of Biblical and Christian Ethics on gambling, "All forms of gambling involve gain to the few and loss to the many without the creation of any real product or benefit, save perhaps a questionable thrill. Its promoters and managers have to appeal to the sinful motivation of covetousness in order to make it repay their own very often considerable investment. Gambling violates the principle of fair return for labor and investment, and the ethics of stewardship and work (Ephesians 4:28; 2 Thessalonians 3:9-12). Gambling also can lead to neglect of family responsibilities, a grievous sin in the eyes of God (1 Timothy 5:8; 2 Corinthians 12:14). Christians should not only avoid gam­bling; they should use moral suasion in the church and political power in the state to diminish rather than expand the socially deleterious gambling climate. As a service to society, they should work also to alleviate the social conditions and spiritual sicknesses that foster the temptation to gamble."

One author noted the truth that often when people win lotteries, the wealth is gone within a short time. Apparently those who are careless with small sums of money are careless as well with large amounts.⁵

Laying up Store for the Future←⤒🔗

The question often raised in this connection is whether it is permissible to lay up resources for a future (rainy) day. A simple referral to the history of Joseph in Egypt should suffice. During the years of plenty, he gathered up all the extra food to provide for the lean years (Genesis 41). God also points us to the wisdom of the ants, which provide their meat in the summer and gather their food in the harvest (Proverbs 6:6-11).

"Piling up" money beyond reason or for a later day consumptive lifestyle is clearly unbiblical. Yet living only for "today" without taking a proper regard for the future is also unacceptable. When the Lord Jesus said, "Take therefore no thought for the morrow: for the morrow shall take thought for the things of itself," He did not mean that we don't have the responsibility to think about our future needs, but His teaching is that we should not think of the future with distrust, as though God would then give us nothing. He does not forbid labor and prayer, but distrust and want of confidence in God.⁶

There is an old story of a young man who was given an assignment to build a house for his employer. He was instructed to spare no expense in workmanship and materials. Knowing the employer would be away during the entire project, the builder decided to cut corners – physically and materially. Much to his surprise, when his employer returned, he made the generous announcement that the house was actually a gift to the young man. Now the young man had to live in the house made with poor workmanship and materials.

Likewise, in building your financial house, remember that unwise building will not only affect you, but also those who come after you. Your responsibility to provide for your family does not end when your life ends. A loving husband thinks about the needs of his wife if death would take him away. A responsible person thinks about the need for a future income when it becomes impossible to work.

Retirement Plans←⤒🔗

It may very well be possible that government assistance for the elderly may not be plentiful in the future. Therefore, especially individuals who do not have the benefit of a pension plan through their employer should make it a matter of present priority gradually to save up some money for when they are no longer employed. Such a gradual retirement savings is responsible stewardship. We may not depend on the government to help us through our retirement years because we mismanaged our funds earlier.

Mutual Funds←⤒🔗

Without entering into the details of the various avenues in which one can build up an income for his retirement age, we would like to answer the question about the propriety of investing in mutual funds.⁷ A mutual fund is a pooling of funds to buy various investments in different sizes of companies. This approach reduces the "risk" factor. To say it simply, by investing in a mutual fund one doesn't put all his eggs in one basket. The questions to ask when investing our money are as follows: What type of funds are we purchasing? Are they reasonable, safe investments in reliable and stable companies? Investment in mutual funds should be a long-term investment. It is therefore very important to assess the volatility risk of a specific fund, since there are no guarantees. Some mutual funds we would consider unacceptable, as the risk is too high.

Investing your money in companies through a mutual fund always includes a certain "risk" due to the economic climate. Let us not forget, however, that also the economic climate is under the control of God's providential hand. This investing of money is not the same as speculating. Speculating is the constant changing of your investments with an eye upon making a capital gain that is based on market fluctuations which are NOT associated with the company's income. This type of behaviour may cause one to gain or lose extraordinary amounts of money and is more akin to gambling.

Futures and Options←⤒🔗

These may also be a form of gambling. We would not suggest these investment vehicles for the average investor. However, for the grower, importer, and processor, commodity futures provide a legitimate tool to reduce risk.

In this short article we cannot deal with all the various investment vehicles in sufficient detail. Neverthe­less, as in all things, let us seek to follow Scripture's command, "In all thy ways acknowledge Him, and He will direct thy paths" (Proverbs 3:6). Seek also the counsel of those within the financial service industry who respect the Word of God. You may also contact your consistory to see whether they know of any who can advise you in these matters.

Looking Ahead←⤒🔗

In rounding off this series, we would like to finalize it next time with some guidance regarding debts, credit card buying, and budgeting. In preparation, discuss the following questions.

1. What must be our attitude toward entering into debts? Is this permissible? If so, what are the limits and guidelines?
2. What are the pros and cons of credit cards?
3. Should we live by a budget? What would be the main items of a budget? How do we go about developing a simple family budget?