Two of Mostly Misinterpreted Verses in Bible that Drawback Prosperity

First this bible verse:

Genesis 1:28 New International Version (NIV)

28 God blessed them and said to them, “BE FRUITFUL and increase in number; fill the earth and subdue it. Rule over the fish in the sea and the birds in the sky and over every living creature that moves on the ground.”

Reading this verse, I remember a father who hardly cope up in providing his family daily needs, yet, almost yearly the wife give birth. And, when asked why keep in reproducing even if cannot afford to take care of the incoming child? The answer was, because it's the will of God to multiply therefore it's a blessing and God will provide. Few years ago, it was also my notion so, I assume that even now someone or perhaps great majority of us still have this notion. But then, thankfully someone made me aware of the verse and noticed that before increase in number it does say be FRUITFUL first. What does fruitful means? In dictionary, one of the meaning simply means successful. So, it implies for those who believe and practice christianity that before increasing in number, the head of the family ought to be successful, prolific or at least capable enough to provide for the upcoming offspring. Now it make sense, God won't simply say increase in number without thinking about the needed provision, right? After all, God as characterised in the bible is a planner to our benefit "Jeremiah 29:11 For I know the plans I have for you," says the LORD. "They are plans for good and not for disaster, to give you a future and a hope"

2nd: this verse.

1 Timothy 6:10 New International Version (NIV)

10 For the LOVE of money is a root of all kinds of evil. Some people, eager for money, have wandered from the faith and pierced themselves with many griefs.

Most probably, you already had heard about this one. It simply says, money is not the root of all evil, it's the LOVE of it. But, I think even after realising this verse, when we start to chase after money we tend to love it. No wonder, the bible also says in  "Matthew 6:24 - No one can serve two masters. Either you will hate the one and love the other, or you will be devoted to the one and despise the other. You cannot serve both God and money". So, is that it, I mean is it therefore better not to chase prosperity? I believe this again is a common notion for Christians alike, this is maybe why a lot of those who strongly believe in Christianity and practice the faith are either lacking in motivation to chase prosperity or, care less about it as long as they can go about their daily lives without really thinking and planning about their future and their children's future. Yet in contrary, He plans to prosper us "Jeremiah 29:11". So, is there ever a way or a solution so that whenever we try to chase prosperity we will not be pierced with many grief? Well, I think there is, it's GIVING. Giving while chasing prosperity will I think help us to not be greedy. 

Perhaps, these are just two of the few other bible verses related to finance that I think mostly misinterpreted, thus, Christians who try to practice the faith as according to the book somehow (not all though) drawback to chase prosperity

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The Second Step - Manage Debt

"An excerpt from my Blueprint to Financial Success"

In the illustration thereof, it would be best to manage our debt first before deciding to jump into investment. Otherwise, we will be in big trouble and might be very difficult for us to recover. We have to remember that compound interest is our worst enemy when it comes to unmanaged debt.

How to manage debt then?

• Do a monitoring on your credit. It will make you aware how much minimum you really need to pay to constantly reduce your debt.
• Consolidate it, avoid borrowing money from one person/banks to another.
• Make sure to pay debt timely (we don’t want unnecessary late charges)
• If possible, eliminate it.

Two Types of Debts:

• Bad Debts 
• Good Debts

Sample of Bad Debts and Good Debts:
Say for instance were qualified and get a personal loan maybe from a bank, SSS or GSIS, PAG-IBIG, etc

• Bad Debt, if we used the loan amount to buy consumable or depreciative things which actually not needed or only for the purpose of gaining attention or in short to show off. 
• Good Debt, if we invest the loan amount to which it will possibly earn more. Just remember to manage it though, meaning we have to make sure that we regularly pay the loan amount sufficient enough to constantly reduce it.  

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The First Step: Manage your Cash-flow

As defined by Investopedia a personal cash flow statement measures your cash inflows and outflows in order to show you your net cash flow for a specific period of time. In mathematical terms it can be defined as:

Cash Inflows - Cash Outflows = +-Net Cashflows

Given this definition, positive net cash flow could mean savings. Take note though, in order to maintain a positive cashflow or beter yet increase it, one need to increase cash inflow and manage cash outflow. We cannot increase our cash inflow and also increase our cash outflow the same rate as how much our cash inflow increase. The latter are prerequisite to each other.

Most often than not, our worst enemy when it come to savings is non other but ourselves. If we used this formula in order to have savings, we will probably end up broke, perhaps, it's because our brain is wired to instantly gratify our wants - that is we desire to experience pleasure or fulfilment without delay or deferment, basically, it’s when we want it; and we want it now. Consider this, suppose just before we receive our next salary we still have 100 dollar left. But then, while roaming around we came across a 50% sale of our most desired shoes. The price before sale was $200 and now it dropped to $100 and we still have extra $100 in our pocket, some more last day of sale, will we miss it? Probably not.

That's why as Warren Buffet once advice "Don't save what is left after spending; spend what is left after saving". In this regard, we probably need to alternate the formula as per below:

Cash Inflows - Savings(+Net Cashflow) - Expenses(Cash Outflow) = 0

I guess with this formula we are able to trick our brain to save effectively. 

Cash inflow could be our salary, cash generated by doing part time or overtime, whilst cash outflow could be our daily expenses.

It is recommended to save at least 20% of our savings and live by the remaining 70% of it. For the balance 10% more or less, it is advised to give out or share 10% more or less of our income or as we wish and able to those who are in needs and or to the poor. Learn to give it willingly and cheerfully. It is for us to recognise that we are all interconnected and interdependent. We cannot to create any amount of wealth just by our own efforts. Even an artist needs the raw materials for paint or to sculpture, and an author needs pen and paper. Giving and or sharing what we receive is a way of recognising that in the process of building wealth, we have an unseen partner (Our God) who is there to support us in achieving our goal. We certainly want a good relationship with our partner right? By sharing and giving part of what we receive, It pleases Him. And, at the same time, it will help us check constantly our attitude towards money, help us to be humble, check our pride, be generous along the way and it will remind us always not to give in to whatever temptation that may come along the way. It good to note that, the 10% serves as a guide only. We can start lower than that or higher than that, the idea is rather simple, the time will come when, say we start at 3% and this is the best we can give without affecting our personal obligation, if we are continually blessed, there will come a time that this 3% will be nothing to give. Should that time comes, it's best to increase it to such that we feel the sacrifice of giving without affecting our personal obligation and continue to increase it should that feeling of sacrifice vanishes again because, that feeling of struggle and or sacrifice to give will remind us always not to be complacent, that there is someone helping us and we don't own anything, that feeling of sacrifice will remind us always to be humble, check our pride and not give in to the temptation that may come along.

Also, should we ought ourselves to give some portion of what we receive, we should also be compelled to plan on how to spend the remaining balance. Should we oblige ourself to give but did not bother to plan how we spend the remaining balance, we might just end up in deficit meaning, we over spend and might end end up owing someone. For me, the joy of giving and the blessing that comes along with it will only really show if we simply learn to discipline ourself on how we allocate and spend the remaining balance of our resources after we give. God's blessings are not short term, by learning to discipline ourself on how we allocate and spend our resources effectively, we are in for a long term blessing that we can even pass down to our children's children.

So now the formula is as per below and as per my experience, whether you have and existing debt to pay or not, use this formula as soon as possible. 

100%Income - (10% plus/minus)giving - 20% savings - 70% expenses = 0

Now, I knew somehow following the formula strictly will not make sense. Like say, what if we have a debt to pay, would it be better to, instead of saving the 20%, use it first to pay off the debt since that debt will incur interest and then start saving after paying off debt. The reason why its better to try our best to stick to the formula whether we have debt or not is that, it will force us to think of ways how to increase our income to such that the 70% expense will include all bills including the amount needed to pay off debt. The earlier we start will also help us build that habit within us and get use to it rather than waiting up to until the debt has been payed off, its possible that by that time, we might be already lazy or not keen to follow the formula. Let's not procrastinate, if we have the enthusiasm now to follow the formula, let's do it! Think of that 20% saving as like an expense as if we are paying off a bill whereby every time we pay it, our brain automatically conditioned that it will not come back. Like say for me, I think of it as like I'm paying a tuition fee, I'm compelled to pay it and I don't feel regret every time I make payment and I knew that it will not come back. I treat the 20% saving the same way the tuition fee, the only difference is that it goes to the asset column instead of going the liability column. The earlier we apply the formula and by repeatedly doing it, it will become a system of habit.

The 70% percent requires a close monitoring of how we spend it and that is through effective budgeting. It may sound simple, but it really is not easy in practice. It requires discipline and a system where you and the ones involve in it are comfortable to do. There are a lot of tips and how to do it instructions available online but I believe every individual have unique character and different needs. So, adapt tips and procedures that you think best suit and effective for you and the people involve in it.

Hope this will help.