8 Ways Money Might Be Your Idol

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The room was tense.

I was meeting with a couple in my office. I was twenty-one, a freshly minted financial planner, and this was one of my first solo client meetings. This couple had plenty of income and resources, and now just needed to create a budget for their retirement plan. Each line item, however, only created more friction and anger between them. 

“Do we really need to spend so much on wine?”

“What do you mean? It’s for your friends, too. It wouldn’t be a problem if you didn’t spend so much on your golf.” 

“Oh, so my hobby is the problem? Not your club dues? You don’t even use half of these!”

What about finances would cause this couple, and so many others like them, to become so angry and frustrated? Often, at the heart of a frustrating situation is a stubborn love of money, which has become an idol. How can we detect a money idol in our hearts, and what can be done about it?  

First, what are idols?

Before we discuss money as an idol, we need to understand what an idol is. It’s not just a favorite drummer or baseball pitcher. In biblical terms, an idol is anything we trust in, depend on, give ourselves to, love, esteem, or treasure more than God. Idols are usually good things, such as family, happiness, or safety, that our sinful and greedy hearts twist and abuse.

We are all susceptible to idols. As sinners, we are constantly finding empty “replacement gods” to worship and adore. The Protestant theologian John Calvin famously wrote, “the human mind is...a perpetual forge of idols” (Institutes of the Christian Religion, I.11.8). 

Although common, idolatry is a serious problem. If the Greatest Commandment is to “love the Lord your God with all your heart and with all your soul and with all your mind” (Matt. 22:37), idols can become our “greatest sin.” Idolatry clouds our thinking, distracts our focus, and ultimately keeps us from glorifying God. 

For believers, idolatry is a direct attack on God’s rights. The first question of the Heidelberg Catechism reminds us that we are no longer “[our] own but belong with body and soul, both in life and death, to [our] faithful Saviour Jesus Christ.” We wrongly give idols the worship due only to God.

Second, how can money be an idol?

The Bible warns us countless times against loving anything more than God. The love of money tops this list. Often it can be a consuming harmful pursuit. Wealth is a cruel master that will never satisfy those who pursue it (Eccles. 5:10-12). For those who run after riches, it “sprouts wings” and flies away (Prov. 23:4-5) leaving only poverty (Prov. 28:22). 

More importantly, a money idol is spiritually dangerous. Paul describes loving money as “a root of all kinds of evils” that has led many away from the faith (1 Tim. 6:10) and to “ruin and destruction” (6:9). Ultimately, a heart that worships money shows a deeper problem: not worshipping God. It is impossible to serve God and money at the same time (Matt. 6:24).

Is money your idol?

While most believers know that loving money is wrong, many are unaware they may be committing this very sin. Has money become a secret idol in your heart? Here are a few signs that you may love money too much:

1. Boasting about your wealth: Are you proud of the nest egg you’ve built up? Do you delight in what your income can buy? Be careful to avoid boasting in your bank account. Everything is a gift from God (James 1:17), including our wealth. And just as we receive, we can also lose. The same God “makes poor and makes rich” (1 Sam. 2:7) and gives and takes away (Job 1:21). 

2. Trusting in money: What gives you confidence and security, especially as the uncertainties of life begin crowding in? Do you find yourself mentally cataloging your financial resources in a crisis? Does your “back-up plan” involve only your emergency savings? As a financial planner I know the wisdom of careful savings; yet, don’t let money become your hope: “Whoever trusts in his riches will fall” (Prov. 11:28). 

3. Sinning for more: Sinning for money doesn’t only include robbing a bank or theft. We can sin in many smaller, everyday ways, such as cheating on taxes, dipping into resources at work, or not paying for all goods and services received. These smaller acts of dishonesty show that we value monetary gain over a purity before God. Proverbs warns that such unjust gain “takes away the life of its possessors” (Prov. 1:19). 

4. Unwillingness to help those in need: How generous are you with your wealth? Are you the first to help, or dragging your feet, the last? While we are to be wise with our giving, especially during seasons of tight finances, consistent stinginess may point to a heart valuing a healthy portfolio more than the lives of fellow believers. Even as Christ gave himself for us, we are called to give ourselves to others in need (1 John 3:16-17). 

5. Giving for your image: While being stingy can show a lack of concern for others, even giving can be done for the wrong motives. When giving, are you concerned with others noticing you? Do you donate more generously when others are watching? Watch out for the prideful heart of the Pharisees who gave for the praise of man and so earned “no reward from [our] Father who is in heaven” (Matt. 6:1). 

6. Insecurity about money: Are you constantly worried about losing money? Do unexpected purchases make you nervous? While caution in regard to your finances is wise, too much anxiety may point to a heart not resting in God’s providence. King David wrote that the little of the righteous is better than the abundance of the wicked, because “the Lord upholds the righteous” (Ps. 37:16-17). The same Lord who feeds the birds and clothes the flowers knows our needs (Matt. 6:25-33). 

7. Over-focusing on monetary gain: Do the ups and downs in the stock market drive the ups and downs in your heart? Are you always looking for the next hot investment idea? Have your friends and family members tired of hearing about your latest money-saving schemes? While we should be wise with our investments and resources, be careful not to focus on worldly gain at the expense of what truly matters (Matt. 16:26). 

8. Jealousy of richer people: What is your attitude toward those wealthier than you? Do you ever find yourself wishing you could have some of their money or secretly hoping they suffer financial loss? Jesus warned us to be on guard against covetousness, remembering that “one’s life does not consist in the abundance of his possessions” (Luke 12:15).  Paul also equates covetousness with idolatry (Col. 3:5). A jealous heart loves what it doesn’t have instead of loving our kind Lord who gives us all things. 

How can we stop worshipping money? 

If any of the signs above resonate with you, what can be done? How can we cure ourselves from a love of money? 

Importantly, we can’t cure ourselves. We can never fix a money-crazed heart by giving away everything we own, following the strictest budget, never buying luxury goods, or forever forsaking vacations. Although budgeting is a great way to steward your resources wisely, it can never cure an idol-sick heart. As Paul wrote to the Colossians, these external rules—“do not handle, do not taste, do not touch”—appear wise but “are of no value in stopping the indulgence of the flesh” (Col. 2:20-23).

We need a deeper healing, and that healing is found in Christ. To be rid of slavery to sin, including idolatry, we must first be set free in Christ by “the Spirit of life” (Rom. 8:2). As long as we remain outside of Christ, we are powerless (John 15:5-6; Rom. 8:8). When we belong to Christ, however, the Holy Spirit puts to death our sinful flesh and brings to fruition righteousness that glorifies God (Gal. 5:22-23). He enables us to live righteously.

For believers, freedom from the love of money starts by fixing our hearts and minds firmly on Christ (Col. 3:1-4). When our hearts are in the right place of loving, trusting, and worshipping God, we can then think rightly about money.  

If you struggle with an idol of money, here are a few of the many precious promises in Scripture to encourage you to love and worship God instead:

• “Keep your life free from love of money, and be content with what you have, for he has said, ‘I will never leave you nor forsake you’” (Heb. 13:5). With the Lord on our side, we have nothing to fear. No bear market, no lost income, no unexpected financial hardship can keep us from God’s love and protection. We can rest contentedly in what we have since our all-knowing Great Shepherd watches over us. 

• “But seek first the kingdom of God and his righteousness, and all these things will be added to you” (Matt. 6:33). It is easy to feel overwhelmed with the “unknowns” of money and all the scary things that can derail a well-prepared financial plan. A premature death or disability can leave a young family struggling to make ends meet. Identity theft can erase years of hard-earned savings. A shock to the market can cause a portfolio to tumble. Yet, these fears shouldn’t consume our thoughts. Our sovereign Lord is in charge and promises to take care of us. We are called to trust him and his plan, even when it is very different from our own. 

• “For you know the grace of our Lord Jesus Christ, that though he was rich, yet for your sake he became poor, so that you by his poverty might become rich” (2 Corinthians 8:9). There are two applications in this verse. First, in Christ we are wealthier than the wealthiest people. We have an eternal inheritance that can never be taken from us (1 Pet. 1:4). Secondly, since we have received such a generous gift from God, we can give generously to others. Charity is no longer a painful duty but rather a glorious privilege. 

• “As for the rich in this present age, charge them not to be haughty, nor to set their hopes on the uncertainty of riches, but on God, who richly provides us with everything to enjoy” (1 Tim. 6:17). Riches are uncertain: jobs can be lost, stocks can turn south, and savings can be emptied, but our God will stay faithful. He graciously gives us “all things that pertain to life and godliness” (2 Pet. 1:3). We have God the Father providing for us, Jesus Christ advocating for us, and the Holy Spirit guiding us. And we have the hope of heaven secured by the precious blood of Christ. No matter what happens in life, this will not be taken from us. We can then confidently say along with King David, “I shall not want” (Ps. 23:1). 

Forsaking money as an idol isn’t a force of will but rather an act of adoration. When we know the blessings that are ours in Christ, we are then free to love, trust, and worship our God. We loosen our grip on money so that we may more firmly grasp the promises of our awe-inspiring Savior.

Related Articles:

• 10 Essential Lessons about Money from the Book of Proverbs

• “Give Me neither Poverty nor Plenty”: 7 Things the Book of Proverbs Teaches Us about Money

• 14 Ways to Keep Your Focus on the Things That Matter Most in Life

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