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.

In my book, that means saving doesn’t come naturally—it’s a habit we have to learn…and God’s Word tells us why it’s so important.

The Reality of Financial Insecurity

You might be surprised to learn that surveys show less than half of Americans can handle an unexpected expense of $1,000. Many have little or nothing in their emergency fund, and when financial setbacks occur, they often have to borrow, usually using credit cards. This situation highlights the importance of saving, a practice the Bible encourages as wise.

Proverbs 10:4-5 states, “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 prudent to save, we must remember not to put too much trust in our bank accounts. Our ultimate trust should always be in God, our Provider, who has promised to meet our needs and remains faithful.

Trusting in God's Provision

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!” 

This verse reminds us that while God has His part in our provision, we also have ours. We are to save as His Word instructs us. If you struggle with the temptation to spend, take comfort in 1 Corinthians 10:13, which assures us that God will provide a way to endure and overcome temptations.

For some, saving money can’t be avoided due to low-income levels. However, many people who struggle with saving actually make enough money but lack self-discipline. The key to saving is living below your means and exercising self-control. God wants our lives to be balanced, enjoying His bounty while also taking care of our families and helping others in need. This becomes difficult without savings.

Everything we have belongs to God, not just what we put in the offering plate. We are stewards of the resources He entrusts to us, and it’s our responsibility to manage them wisely. Here are some steps to start the process of saving:

Steps to Start Saving

1. Create a Spending Plan: Without a budget, you’re flying blind. Your budget should cover all planned expenses and leave something left over. Consider using the FaithFi app to make this process easier.
2. Cut Spending: You’ll need to reduce expenses in some areas. Identify and trim non-essential items from your budget. However, don’t try to do it all at once. Make realistic cuts to avoid feeling deprived.
3. Save from Every Paycheck: Establish the habit of saving something from each paycheck. Developing this discipline is more important than reaching a specific goal. Over time, you can gradually increase your savings amount.
4. Set Attainable Goals: Start with small, achievable goals, like saving $100 or $200 a month. Begin with building an emergency fund, aiming for $1,500, then one month’s living expenses, and eventually 3 to 6 months’ worth.
5. Long-Term Savings Goals: Once your emergency fund is established, set new goals such as buying a home, taking a family trip, or giving to a favorite ministry.
6. Team Effort for Couples: If you’re married, make saving a team effort. Set long-range goals together and celebrate progress, but keep celebrations within your budget.
7. Prayer and Contentment: Pray for self-control and a contented heart. Developing the habit of saving will improve your life, relationships, and ability to serve God and help you sleep better.

By following these steps and trusting in God’s provision, you can build a solid financial foundation. Saving provides security and enables you to be a faithful steward of God’s resources, ready to meet your needs and help others. Start today and watch how it transforms your life.

On Today’s Program, Rob Answers Listener Questions:

• What should I do with the Schwab account that has been sitting there for the past seven years? I want to ensure I invest it responsibly and in accordance with my Christian values, but I'm unsure how to do so. Can you provide guidance on finding a financial advisor to help me do so?
• I've taken a break from work for the past four months to focus on my mental health and seek God's guidance on my next steps. I've fallen into debt with two credit card loans during this time. Now that I'm back to work, should I try to pay off these loans the old-fashioned way by making payments, or should I go through a lender that can help me settle the debt? I want to ensure I'm handling this in a way that honors God.
• My husband was offered a job with a new company that is part of a union. We're unfamiliar with what that entails, as he's never worked for a union. We're trying to weigh the pros and cons - would the benefits and pension offered by the union be worth paying the union dues, or would it be better for him to stay in his current non-union job? What financial considerations should we consider as we make this decision?

Resources Mentioned:

• Christian Credit Counselors
• Rich Toward God: A Study on the Parable of the Rich Fool
• Find a Certified Kingdom Advisor (CKA) or Certified Christian Financial Counselor (CertCFC)
• FaithFi App

Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network and American Family Radio. Visit our website at FaithFi.com where you can join the FaithFi Community and give as we expand our outreach.