Why and How We Save

The Human Genome Project discovered amazing things about man’s makeup. What it didn’t find was a saving gene.

Saving doesn’t come naturally; it’s a habit we have to learn and God’s Word tells us why it’s so important. You might be surprised to learn that surveys show less than half of Americans can handle an unexpected expense of $1,000. They have little or nothing in their emergency fund and when the inevitable financial setback happens, they have to borrow, often using credit cards to cover emergencies.

Little wonder the Bible tells us that saving is wise. Proverbs 10:4-5 reads, “A slack hand causes poverty, but the hand of the diligent makes rich. He who gathers in summer is a prudent son.“

While it’s wise to save, we must also be careful not to put too much trust in our bank accounts, because our trust should always be in God, our ultimate Provider. He’s promised to meet our needs and He is always faithful.

There is good reason to trust God. Luke 12:24 reads, “Consider the ravens: they neither sow nor reap, they have neither storehouse nor barn, and yet God feeds them. Of how much more value are you than the birds!”

God has His part in our provision and we have ours. We’re to save because His Word tells us to. If you think you can’t save because the temptation to spend is too great, take comfort in 1 Corinthians 10:13. It reads, “No temptation has overtaken you that is not common to man. God is faithful, and he will not let you be tempted beyond your ability, but with the temptation he will also provide the way of escape, that you may be able to endure it.”

Why then is it so hard for some people to save money? Well, for some, it can’t be avoided. There are people whose income is just too low, those below the poverty level.

While that’s a real concern and not one to be taken lightly, most people we hear from who are having trouble saving actually make enough to put something away. In their case, self-discipline is the main issue. It comes down to living below one’s means.

God wants our lives to be in balance. He wants us to enjoy His bounty, but Christians are also supposed to take care of their families and come to the aid of others in the church from time to time who may have needs. That’s difficult to do if you have no savings.

Remember everything you have belongs to God, not just what you put in the offering plate. All that we have comes from him and belongs to Him. We’re supposed to be faithful stewards of the resources He entrusts to us.

Here are some steps you can take to start that process:

• Draw up a written spending plan. Without one, you’re just flying blind. Your budget must cover all of your planned expenses and leave something left over. If you haven’t downloaded the FaithFi app, do it now. It will make the process much easier. Initially, you’ll have to cut spending in some areas. You won’t be able to save if you maintain your current lifestyle, so look for things you can trim from the budget. At the same time, don’t try to do it all at once. Establishing savings doesn’t mean you have rice and beans for every meal. If it hurts too much, you won’t stick with it. So be realistic as you cut your spending.
• Make a resolution that you’ll save something from every paycheck. Establishing that habit is more important than reaching the ultimate goal. You want to develop the discipline of saving. As time goes by, and you’re successfully putting something away each payday, you can increase your savings.
• Also set a goal for the amount you’ll save. It should be attainable. Instead of thinking, “I’ll save $5,000 this year,” shoot for $100 or $200 a month to get started.
• All saving should begin with your emergency fund, and here you can set another goal. Start by trying to get $1500 in the bank. Then one month’s living expenses. Keep going until you have three to six months’ worth saved up. After that, your savings goals can change to things such as buying your first home, taking a trip to build family memories, or giving to your favorite ministry.
• If you’re married, all of this must be a “team effort.” Set your long range goals together and celebrate your progress along the way, but keep it in the budget, of course.
• Now that you’ve done your part, you can ask God to do His. Pray that He gives you self-control and a contented heart.

Developing the habit of saving will dramatically improve your life, your relationships, and your ability to be used by God. You’ll probably sleep a lot better, too.

You can also listen to the related podcast on this topic.