Last Thursday we began a six week study through the book of Proverbs in which we are drawing key lessons from that book. If you missed part one you can catch up here.

As a reminder, Proverbs is a collection of wisdom writings. However, as you read it you will find the phrase “my son” twenty-three times in this short book! Clearly this is a collection of wisdom written by a father for his son. It reminds me that as parents we are the lead teachers for our children and among the key lessons we must teach them are those things pertaining to finances!

Last week we drew five lessons from chapters 1-5 of Proverbs. This week we’re going to draw five key lessons from chapters 6-10. Here we go…

#6 Don’t co-sign. EVER!

There’s a reason they can’t get the loan on their own! Believe me, banks are better equipped to determine the likelihood of a person’s ability to repay than you are. BUT sometimes we let our emotions trump our common sense and we co-sign anyhow! Here’s what Solomon wrote to his son about this:

My child,¹ if you co-sign a loan for a friend or guarantee the debt of someone you hardly know —  ² if you have trapped yourself by your agreement and are caught by what you said —  ³ quick, get out of it if you possibly can! You have placed yourself at your friend’s mercy. Now swallow your pride; go and beg to have your name erased.  ⁴ Don’t put it off. Do it now! Don’t rest until you do.  ⁵ Save yourself like a deer escaping from a hunter, like a bird fleeing from a net. (Proverbs 6:1-5 NLT)

#7 Lazy people will be poor people.

I can’t add anything more to what Solomon said to his son…

⁶ Take a lesson from the ants, you lazybones. Learn from their ways and be wise!  ⁷ Even though they have no prince, governor, or ruler to make them work,  ⁸ they labor hard all summer, gathering food for the winter.  ⁹ But you, lazybones, how long will you sleep? When will you wake up? I want you to learn this lesson:  ¹⁰ A little extra sleep, a little more slumber, a little folding of the hands to rest —  ¹¹ and poverty will pounce on you like a bandit; scarcity will attack you like an armed robber. (Proverbs 6:6-11 NLT)

Oh, there is one thing I’d like to say… if you want money, if you want to determine your own future rather than letting someone else dictate it… get out of your bed, put down your game controller, get a job, and go to work! AND if one job isn’t cutting it get another one or an additional one!

Solomon says it like this: Lazy people are soon poor; hard workers get rich. (Proverbs 10:4 NLT)

#8 If you can’t control your sex drives you won’t control your spending plan.

Of course there are exceptions, but I believe I can show you enough stories to persuade you that this is axiomatic. Solomon says,

⁶ For a prostitute will bring you to poverty, and sleeping with another man’s wife may cost you your very life. (Proverbs 6:26 NLT)

A business principle here, if a potential partner has a loose zipper, it’s likely that he/she will have a loose grip on his/her money. Don’t go into business with him/her!

#9 Wealth is often the result of hard work at the right time… and more often than not that time starts when you’re young! Timing is key in the accumulation of wealth!

A wise youth works hard all summer; a youth who sleeps away the hour of opportunity brings shame. (Proverbs 10:5 NLT)

There are seasons of life in which the getting is ripe! For instance, Warren Buffet always says, “be fearful when others are greedy and greedy only when others are fearful.” In other words, be mindful of the season, work hard, save much, and when the time is right… pounce! Gosh, I so wish I had followed this principle when I was young! My debt would be non-existant and my wealth would be existant!

#10 Good advice can be worth money!

Listening to and applying wisdom not only increases the quality of your life it can also enhance your portfolio! Look at what Solomon said to his son…

The words of the godly are like sterling silver; the heart of a fool is worthless. (Proverbs 10:20 NLT)

Dave Ramsey always says, “Don’t take financial advice from your broke brother-in-law.” Solomon would agree.

OK, here’s a bonus…

#11 You can enjoy an honest income much more and much longer than a dishonest one.

Ill-gotten treasures are of no value, but righteousness delivers from death. (Proverbs 10:2 NIV)

The man of integrity walks securely, but he who takes crooked paths will be found out. (Proverbs 10:9 NIV)

The wages of the righteous bring them life, but the income of the wicked brings them punishment. (Proverbs 10:16 NIV)

Hey! Isn’t the Bible awesome?!