A few years ago, our family friend visited a wealthy family’s house in Lilongwe, Malawi. At the dinner, she observed what wealth meant in their cultural context. The family had a lovely home with a kitchen and a bathroom. Yet, instead of toilet paper, an old notebook with torn pages was strung up in the bathroom.
The idea of wealth is universal, yet it means something different to each individual. That’s because the essence of wealth is what we value. For example, most people in the United States would not even think about using a notebook in the bathroom. Toilet paper is a given in the Western world. However, in Malawi, toilet paper does not necessarily fit their definition of wealth.
Defining wealth is important because it affects how you spend, save, and steward your financial resources. As Christians, we want to define wealth based on biblical principles so that we are making financial decisions that honor God. So, this blog will cover:
- What is the definition of wealth?
- How to determine what wealth means to you
- Bible verses about wealth
- How to reach your wealth-building goals
Defining Wealth
Merriam-Webster defines wealth as an “abundance of valuable material possessions or resources.” Investopedia understands it as “the value of all the assets of worth owned by a person, community, company, or country.” You can determine real wealth (or net worth) by subtracting liabilities (debts) from your assets (investments, savings, cash deposits, and any equity that you have in a home, car, or other similar assets).
That’s the actual definition of wealth. However, when most people refer to wealth or a wealthy person, they speak in relative terms. Wealth is so much more than a large net worth and a big portfolio. How you define wealth depends on what you see as valuable.
Wealth is relative, specific, and symbolic. To me, wealth is good health, a connected family, and success in my ventures. Earlier in our marriage, I remember that my wife’s definition of wealth included being able to go to the grocery store without having to use a calculator to adhere to our strict budget.
To younger people I know, wealth is freedom from school debt, a new car, and a happy marriage. To our Malawian friend, it’s a solid home, television, wife, and kids. There is no one true definition of a wealthy person.
Bible Verses About Wealth
The Bible has a lot to say about defining wealth, too. Here are a few Bible verses about wealth:
Jesus said, “Store your treasures in heaven, where moths and rust cannot destroy, and thieves do not break in and steal. Wherever your treasure is, there the desires of your heart will also be.” Matthew 6:20-21 (NLT)
As Christians, true wealth connects to heavenly treasure. Our wealth should be tied to Kingdom mission and purpose.
Another component of wealth is that all of it belongs to God. Haggai 2:8 says, “‘The silver is Mine, and the gold is Mine,’ says the Lord of hosts.” Similarly, Proverbs 10:22 says, “The blessing of the Lord makes a person rich, and he adds no sorrow with it.” God is the only one who can give a person true wealth.
Finally, one of our favorite verses at WealthBuilders is Deuteronomy 8:18 (NKJV), “And you shall remember the Lord your God, for it is He who gives you power to get wealth, that He may establish His covenant which He swore to your fathers, as it is this day.”
God gives us the power to get wealth, defining it as something that we must take action to pursue. He does this to confirm His covenant with us– to show us and the world that we are His chosen people. In other words, true wealth is a vessel that displays the goodness and glory of God.
Related: What is Covenant Wealth? Why Deuteronomy 8:18 is a Game Changer for Prosperity
How to Determine What Wealth Means To You
A dollar sign is hardly enough to motivate someone to reach their wealth building goals. We work hard because of what wealth represents. Another way to say it is that wealth always reflects back onto us. It symbolizes achievement, success, respect, care, and love. That’s why defining wealth is a process we must go through individually.
So, what does wealth mean to you? Here are some reflection questions to get you going:
- What kind of flexibility do you want in your life? How does having wealth support that?
- What future do you want for your family? What kind of inheritance do you want to leave them?
- What kind of giver do you want to be? How can wealth empower you to give more generously?
- What are your God-given dreams, and how can wealth support them? (Starting a business or nonprofit, writing a book, being a missionary, etc.)
- Imagine your ideal lifestyle. Whether it’s dressing a certain way, living near the coast, or having a hospitable home, consider how wealth can help you achieve those ends.
How to Reach Your Wealth Building Goals
Now that you know what wealth means to you, you can probably name a few of your wealth building goals. So, we created a free WealthBuilders™ Bootcamp to help you take the next step toward reaching them. This week of free webinars will coach you on creating a comprehensive wealth building plan. You will learn how to make a passive income stream(s) that works for you TODAY. In addition, you’ll get a vision of how to build generational wealth that can make a real difference in the future.
Thank you so much for this blog and for the WealthBuilders Bootcamp.
Good morning all,thank you so much for this because is really what I want to hear and what I want to see in this life because I have suffered so much in this life to break out of poverty in times of money.In my family we have other things enough but in times of money and what money can do is zero nobody is helping each other,So I want to be a financial freedom man so that I can give people the words and support them with money, and see the one to change my family appearance because it’s my duties as first SON in the family thanks,may God give you more GRACE.