Money is a powerful tool once placed in the right hands. It's no doubt that God blesses us with His overflowing provision.

But the kind of life you lead will also be heavily affected by your attitude towards your money.

Ecclesiastes 10:19 says, "Bread is made for laughter, and wine gladdens life, and money answers everything."

No, money isn't everything but what scripture wants to teach us here is that our dealings with finances matter. Sure God is gracious, but we also have a role to play in stewarding God's blessings.

Here are seven money mistakes that show bad stewardship and how we can fix those mistakes.

1. Living Beyond Our Means

Often the reason why people overspend is because they try to find satisfaction in it, thinking that more money and possessions will make them happier. Ecclesiastes 5:10 says, "He who loves money will not be satisfied with money, nor he who loves wealth with his income; this also is vanity."

Our happiness ultimately lies in God and money is just an add-on.

2. Not Placing Value on Things That Will Increase Our Value

You've probably heard your parents or some finance coaches tell you to put money in things that make more money—education, investments, businesses, and so on. Using money to make money is good stewardship that honours God.

3. Spending Money We Don't Have

Borrowing is not sinful, but it is also not beneficial especially when we use credit to pay for wants and not needs. When you don't have the money for something then chances are it isn't for you—yet.

4. Putting All Your Eggs in One Basket

It's good to rely on alternate sources of income because nothing is certain nowadays—not even job tenure. Ecclesiastes 11:2 says, "Give a portion to seven, or even to eight, for you know not what disaster may happen on earth."

5. Not Working With a Budget

The most notable thing about money is that it's finite. God gives all of us a set amount of money. No one ever has an unlimited source. The way we allocate our resources not only puts us in a good financial position but also honours God.

6. Chasing After Quick Money

Proverbs 13:11 tells us, "Wealth gained hastily will dwindle, but whoever gathers little by little will increase it."

Quick money can be great, but it can also be extremely dangerous. There are many stories of people who earned money quick only to fall a lot harder when they lost it all.

7. Serving Money

Money can make for a great servant, but it's a terrible master. Sometimes we can make the mistake of serving money instead of it serving us. We live for God and not money, and money exists for us.