There are numerous personal finance books suggesting different tips and tricks on how to create a budget and save money for retirement.
There is no doubt that certain bestsellers, such as Rich Dad, Poor Dad by Robert T. Kiyosaki or Total Money Makeover by Dave Ramsey are helpful. However, what if we told you that the Bible holds a bunch of useful information on why saving money is important, as well as how to efficiently do it?
Whether you are a Christian or not, you can’t deny that, although this book was written thousands of years ago, the financial principles that it talks about are relevant in the modern world. In this article, we will be going through a couple of interesting and guiding verses. So what does the bible say about saving money? Keep reading to find out!
Keeping Your Priorities Clear
The book of Proverbs is the most helpful regarding personal financial aspects. As Proverbs 24:27 suggests:
“Put your outdoor work in order and get your fields ready; after that, build your house.”
To us, this is one of the most profound tips that the Bible offers. Putting it in the context of the modern world, it means that you should ensure that you have a steady source of income before you satisfy other needs, such as investing money in decorating your house.
Only after you have saved enough money and aren’t worrying about whether you can put food on the table should you think about further investments that may or may not be absolutely necessary.
Pointing Us to Nature
Proverbs 6:6-8 focuses on telling us that whenever we aren’t sure about how to act in a certain situation, we should take a look at nature.
“Go to the ant, you sluggard; consider its ways and be wise! It has no commander, no overseer or ruler, yet it stores its provisions in summer and its food at harvest.”
The importance of saving money comes from many different aspects, including that only then will you be able to keep yourself away from debt (proverbs 22:7).
Give and You’ll Be Given To
Among the most important principles of Christianity, as well as saving money, is that you should give to those who are in need. As Luke 6:38 says:
“Give and it’ll be given to you. A good measure, pressed down, shaken together, and running over will be poured into your lap. For the measure you use, it will be measured to you.”
Most of us have had the opportunity to experience this in real life. While you may not get an immediate reward for helping those who need it, the gratification will always be there. This is another reason why saving money is so essential, because if you were indebted, you wouldn’t be able to follow this principle.
Having an Emergency Fund
According to Genesis 41:34-36:
“Let Pharaoh appoint commissioners over the land to take a fifth of the harvest of Egypt during the seven years of abundance. They should collect all the food of these good years that are coming and store up the grain under the authority of Pharaoh, to be kept in the cities for food. This food should be held in reserve for the country, to be used during the seven years of famine that will come upon Egypt, so that the country may not be ruined by the famine.”
While you may not be able to save seven years’ worth of your regular expenses, having an emergency fund that would be able to get you through at least a 6-month crisis is something that you can absolutely do.
Do you remember the economic collapse of 2008? Millions of people around the world weren’t expecting that it would happen, and they ended up losing their homes and were saddled with huge amounts of debt.
Because we are living in a fast-paced and ever-changing world, we should be prepared for a financial crisis at any given moment.
Don’t Become Indebted
This tip is more easily said than done, but if you create a detailed financial plan and save money on a monthly basis, covering sudden expenses would be possible without having to lend money from a bank or any other source. As Proverbs 22:7 suggest:
“The rich rule over the poor, and the borrower is a slave to the lender.”
This couldn’t be said better, as being indebted isn’t only detrimental because you will be paying huge amounts of interest but also because it can cause a lot of stress and be very destructive overall.
Cope With Temptations
One of the main mistakes related to saving money is greed and fear. Reading the Bible, there are several verses, such as 1 Timothy 6:17, Proverbs 1:19, Luke 12:15, and Ecclesiastes 5:13, that state that these attributes are wrong.
Firstly, if you are saving because you fear what will happen to you in the future, that means you aren’t trusting God.
On the other hand, it is very easy to become a slave to money and not give to anyone else while trying to earn your independence from God.
Once again, this is deemed as wrong, as although the Bible suggests that you should stay away from debt and have a good financial plan, it also says that you should be willing to use your money for the benefit of both you and others. In other words, do not hoard your money, or it is no good for anyone.
Wrap Up
Who would have expected that the Bible, especially the Book of Proverbs, would be such a rich resource when it comes to the importance of saving money? Regardless of your thoughts on the Bible or your religious affiliations, the conclusion is that you should have your priorities straight and “save white money for black days” while also staying away from greed and selfishness!
By following the above guidance and suggestions from the Bible, you should be set on a healthy, strong, and fruitful financial path that will protect you and your family for your whole lives.