Today is the 10th Day of New Life Covenant’s 21-Day Fast. We are fasting and praying for many things…one of them is self-control and discipline in our financial lives. To that end, members of the church and its pastors are writing daily encouragements. Thought we’d share them with you. Be blessed!
Day 9 SAVING MONEY
The wise have wealth and luxury, but fools spend whatever they get. (Proverbs 21:20, NLT)
The Bible teaches that saving money is a wise practice for many reasons. God is our source and provider for everything we need. “And my God will meet all your needs according to the riches of his glory in Christ Jesus” (Philippians 4:19). One of the main ways God provides for us is through money, and it is our job to steward that money well. (Matthew 25:14–27).
We are accountable to God for how we use everything He gives us in this life, including money. Saving money demonstrates good stewardship of the resources God gives us. Saving allows us to be prepared for the future, and being prepared for the future is good! Proverbs 6:6–8 shows us that this principle is lived out even in 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.” Planning ahead and saving money makes it easier to accomplish goals.
We are even to plan ahead for our weekly giving to the ministry. “On the first day of every week, each one of you should set aside a sum of money in keeping with your income, saving it up, so that when I come no collections will have to be made.” (1 Corinthians 16:2).
When we don’t plan ahead and save money, we are more prone to go into debt, which the Bible tells us is unwise. “The rich rule over the poor, and the borrower is slave to the lender.” (Proverbs 22:7) When emergencies arise, which they will, saving ensures that you are able to meet the challenge without going into the bondage of debt, or ruining your good name by avoiding creditors. We want to represent the Lord well in all areas.
Of course, there are plenty of wrong motives for saving money. If we’re saving money out of fear of the future, it shows we’re not really trusting God to provide (see Luke 12:7; 2 Timothy 1:7). Miserliness is sin, and it’s foolish and arrogant to make money our security. “The wealth of the rich is their fortified city; they imagine it a wall too high to scale” (Proverbs 18:11); yet riches “will surely sprout wings and fly off to the sky like an eagle” (Proverbs 23:5). First Timothy 6:10 warns against greed,“The love of money is a root of all kinds of evil. Some people, eager for money, have wandered from the faith and pierced themselves with many griefs.”
To fully understand the value of saving money, we must remember what the Bible says about giving. God desires His people to be cheerful givers (2 Corinthians 9:7). It’s impossible to out-give God whether in forgiveness or in finance! “Give and it will 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” (Luke 6:38). Saving prepares you to be generous when giving opportunities arise.
Sometimes the things God gives, whether money or something else, are intended for us to give away. At other times, He gives us things that are meant for us to keep for ourselves and use in His service and for His glory. It’s wise to hold everything God gives us loosely so that we can give it away if He asked us to.
Here are some charts that you can use if you like, to start saving – or you can make your own. Some of these charts may not be realistic for some to achieve, but do what you are able to do. Make sure while you’re saving money, you are also paying your tithes and offerings : )
Lundon Johnson
