…not addicted to wine or pugnacious, but gentle, peaceable, free from the love of money.
1 Timothy 3:3

For the overseer must be above reproach as God’s steward, not self-willed, not quick-tempered, not addicted to wine, not pugnacious, not fond of sordid gain, …
Titus 1:7
(emphases mine)

The Scriptures are clear that money, in and of itself, is not evil. It is the love of money that quickly leads down a very sinful road. The truth is, if the believer has any love that competes with his love for God, he is in spiritual danger.

But there is an important link between the love of money and the false teacher.

For the love of money is a root of all sorts of evil, and some by longing for it have wandered away from the faith and pierced themselves with many griefs.
1 Timothy 6:10

Consider how greed is often associated with those who are apostates.

But Judas Iscariot, one of His disciples, who was intending to betray Him, said, “Why was this perfume not sold for three hundred denarii and given to poor people?” Now he said this, not because he was concerned about the poor, but because he was a thief, and as he had the money box, he used to pilfer what was put into it.
John 12:4–6

Many will follow their sensuality, and because of them the way of the truth will be maligned; and in their greed they will exploit you with false words; their judgment from long ago is not idle, and their destruction is not asleep.
2 Peter 2:2–3

…having eyes full of adultery that never cease from sin, enticing unstable souls, having a heart trained in greed, accursed children; forsaking the right way, they have gone astray, having followed the way of Balaam, the son of Beor, who loved the wages of unrighteousness; …
2 Peter 2:14–15

The elder must not have a love for money, which means that he is to be content with what God has provided for him, namely, the unwavering promise of God that He will never leave us.

Make sure that your character is free from the love of money, being content with what you have; for He Himself has said, “I WILL NEVER DESERT YOU, NOR WILL I EVER FORSAKE YOU, …”
Hebrews 13:5