What does the Bible say about saving money?

Bible verses about saving moneyWe might be familiar with the phrase, “saving money for a rainy day” but it turns out that very few of us believe a rainy day is coming. In fact, not only are we failing to save, we’re dipping into our cash reserves to fund our lifestyles. With reports that the saving ratio in US households has dropped to a record low, it’s probably time that we all reconsidered how we look after our finances.

We can struggle to save money for a number of reasons, like low wages coupled with increased expenses, along with unexpected expenses, but our inability to save can also be down to a lack of knowledge in understanding how to budget and manage money well. We can turn to the bank, accountants, professional investors and a range of other sources for practical advice on how to save, invest and take care of our income, but what type guidance can Christians find on saving in the Bible?

The Bible is full of direct and indirect guidance on money management, and saving in particular. These verses are just three that we can look to to inspire our approach to saving money.

3 Bible Verses About Saving Money

Be Faithful

Matthew 25:23

23 “The master said, ‘Well done, my good and faithful servant. You have been faithful in handling this small amount, so now I will give you many more responsibilities. Let’s celebrate together!’

When we’re struggling to make ends meet, we can think that more money is the only solution to our financial issues but this isn’t always the case. In some instances, the key to finding ourselves in a position which enables us to save doesn’t require more money but for us to first cope with managing the initial modest income. Essentially, “if you look after the pennies, the dollars will look after themselves”. Looking at Matthew 25:14-29 in a literal sense, saving doesn’t necessarily mean storing our money without allowing it to grow interest, but identifying how best it can be utilized.

Use Wisdom

Proverbs 21:20

20 The wise have wealth and luxury,
but fools spend whatever they get.

Part of wisdom is thinking ahead to what might happen in the future. This verse encourages us not to just live for the day. We do not know what the future holds but we can prepare for the future all the same. Most wealthy people did not become wealthy by chance or luck. They purposefully chose not to spend all that they earned even if that was $20.00 a month.

Be Consistent

1 Corinthians 16:2

2 On the first day of each week, you should each put aside a portion of the money you have earned. Don’t wait until I get there and then try to collect it all at once.

This practical advice which Paul gave to the people of Corinth can be adapted to inform how we tackle saving today. Depending on when we get paid, and how often, choosing a regular interval to put aside a certain amount of money is one of the most fundamental and effective habits when it comes to saving.

Today, more than ever, it is important for the people of God to start saving. Christians around the world face perilous times. I would like to encourage all of you to start saving for the rainy days that may come upon us.

Blessings!

Pastor Duke

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