“God Is Faithful” Today – October 19th
“The heart of the discerning acquires knowledge; the ears of the wise seek it out” – Proverbs 18:15 (NIV)
Seven Principles of Investing
by Chuck Bentley
When it comes to investing, there are pitfalls and blessings, rewards and penalties, events that are unexpected and some that are unpredictable.
Surviving the world of investing requires wisdom, and the best source of wisdom is God. Seven principles will help you make the most of your investing experience.
1. All debt should be short-term, it should not be your normal way of operating, and it should be taken on without surety (only borrow up to the value of the collateral asset). Use cash whenever possible.
2. Diversify your investments, and place your money in things with a proven record of long-term growth. Never completely turn your money over to someone else, avoid fads, and invest in something you know.
3. Avoid a get-rich-quick mentality. Have the wisdom to show restraint, and pursue your goals slowly.
4. Invest intelligently, because anything else is like gambling. Read a book and study the field you are interested in learning about.
5. Seek godly counsel. Make sure your heart and the heart of your counselors are matched. Be sure that your counselors are looking out for your best interests.
6. Check your motive for investing, which should be to help your family and God’s Kingdom. Determine how much is enough and give the rest to the Lord.
7. Count the cost. Understand that the money you invest is at risk and that you could suffer losses. If you’re not comfortable with risk, you’re a saver, not an investor.
Daily Scripture Reading:
Disclaimer: The above information is provided for informational purposes. MrHerrera is a Crown Financial Counselor. No remuneration is provided by them to mrherrera. No copyright infringement is intended.