I joke often that, in spite of my degree in finance and career in the banking world, had I just read the Book of Proverbs I would have gotten a much better – and much cheaper – financial education. In this series I’ll highlight a few key principles from Proverbs that you can apply to your finances today.
“Know the state of your flocks, and put your heart into caring for your herds,” is written in Proverbs 27:23.
Back when Solomon was writing Proverbs, flocks and herds were currency (which often makes me wonder how they made change for a sheep, but that’s beside the point).
There are two words in this verse that leapt off the page the first time I read them: know and care.
Know. You have to know what’s going on with your money. How you behave will reveal a lot about what you know of your personal finances. Do you regularly balance your checkbook? Are you creating a monthly plan for every dollar you earn and tracking where it goes?
John Maxwell said, “A budget is telling your money where to go rather than wondering where it went.” When you know the state of your personal finances, you don’t have to wonder where your money got off to.
Care. When you care about your financial situation, you honor and respect your most powerful wealth building tool – your income. Stewards are those who manage the resources of someone else to the very best of their ability, even though they have no ownership rights. Understand that you don’t own anything, but everything – from income to assets – is a blessing.
Caring requires attention and intention. There must be a greater purpose for these resources, some larger goal to accomplish – whether retirement savings or giving to those in need.
Knowing demands your mind; caring demands your heart.
