God has created the whole world for increase. He placed the power within every living creature to reproduce beyond themselves. God gives humans the special ability not only to reproduce other humans but to bring forth an increase of useable beneficial resources from the earth– what we call wealth.
God tells his people not to forget him when they grow wealthy because he has given them the power to “bring forth” wealth.
Deuteronomy 8:18 “And you shall remember the Lord your God, for it is He who gives you power to get (Hebrew: bring forth) wealth, that He may establish His covenant which He swore to your fathers, as it is this day.
History has shown us that humanity has power to use their energy and ingenuity to create usable, beneficial resources. Every generation has their Steve Jobs, Bill Gates and Warren Buffets. Although we may never command the amount of assets these moguls have, we can all find how God has gifted us to produce wealth.
We live in perilous times. This fallen world cries out with deep needs. Producing wealth helps alleviate those needs. The earth was created to produce enough to feed, clothe and house the entire population. Sin steals, kills and destroys. God’s people must now show the way to produce more than we consume. Sadly, the church has stopped equipping God’s people to produce and many are mired in financial bondage. They have either moved into unbiblical ideas that treat God like a genie in a bottle or stop short at living debt free, on a budget and make sure you tithe!
Wealth is a product of thinking and working. Wealth is created when we apply our effort and ingenuity to the earth’s God-given resources to create usable desirable goods and services. Because wealth is first created in the mind, it can be our thinking that hinders our ability to create wealth. The wealthy think differently about money and wealth creation than the average person.
How Wealth Creators Think
They deal constructively with risk and failure. The wealthy don’t take foolish risks, but they realize that risk is a part of life. All of them have failed multiple times, in fact, the average successful business person has had four failures before they had a success. Failure is a normal part of learning. Failure isn’t fatal, it’s feedback! But like billionaire Mark Cuban said, “You only have to be right once.” Start by taking small risks through investing. There are four investment soils you can plant your seeds in: real estate, financials, business ownership and education. Each have their own risks and potential rewards.
A savings account is NOT an investment. A savings account may earn you .3% interest. Inflation takes 2-3% each year. The money you have in a savings account is there if you need the money quickly. It’s great for an emergency fund or short-term needs. Any money stored there beyond that, inflation slowly erodes away. Money in a savings account helps you grow poorer safely. Investing puts your money to work for you. Don’t tolerate lazy dollars. Most people start investing with a 401k or IRA. Make sure you take advantage of these opportunities.
High capacity wealth creators don’t think like an hourly wage earners. Most of us work for money. The wealthy use their creativity and their time to learn about ways to leverage each dollar through investing. Instead of using their time after work to watch endless episodes of prime-time TV and memorizing sports stats, they spend time learning how to leverage what they have earned. Many of them started simply by spending less than they earn and investing the rest. They don’t just assess the price of goods but they look at the total cost of buying an item; which includes the important concept of opportunity cost. What could my money have earned had I taken the opportunity to invest it instead of buying that new car? What new skills can I add to serve people better and increase my utility to others?
They see problems as opportunities
They use their creative energy to solve them and monetize their solutions. Wilmot Hastings, was so agitated by the $40 late fee he received by turning in his copy of Apollo 13 a few days late, that he thought, “There must be a better way.” On his way to the gym, he thought of the Netflix model. One of the key ways to create wealth is to solve problems, the harder problems you solve, the more money you make (provided there’s a demand for the solution, you could repair cassette tape players, it may be difficult, but very few people need that solution). If you can’t solve hard problems, find a way to solve easy problems (like changing a tire) for many people.
For 27 powerful lessons detailing the personal characteristics, three wealth creation methods and the investment classes of business ownership, financials and real estate, pick up your Christian’s Guide to Wealth Creation here: http://wealthcreation.careywaldie.com/