Becoming a Saver
Are you a saver? Benjamin Franklin was. He said, “If you would be wealthy, think of saving as well as getting.”
Franklin knew that what you save is just as important as what you earn. The Bible teaches that too, which is why Christians should practice saving money on a regular basis. This includes those who are in debt. Even if it’s only a small amount each month, the discipline of saving helps prevent debt and prepare for the future.
This does not mean you save at the expense of creditors. But, the habit of saving a small amount at regular intervals is wise.
Savings requires a surplus of money. You can’t spend every dollar you earn. You must establish some self-discipline to live on less than what you make. You have to determine some realistic saving goals and set some lifestyle parameters.
A budget is extremely helpful to help you stay within bounds. Tracking your progress on a regular basis is helpful and motivating.
Work towards having a separate emergency savings account of $1,000. Automatic transfers prevent you from seeing and spending the money. And, should an emergency arise, you’ve got the funds set aside to prevent debt.
I recommend working towards setting aside a year of living expenses. Careful planning over a period of time make this an achievable goal and will grant you tremendous peace and freedom should illness, job loss or major catastrophe occur.
Remember, Proverbs 21:20 says, “Precious treasure and oil are in a wise man’s dwelling, but a foolish man devours it.”
To save, you have to plan. And, that plan may require some sacrifices in order to reach your goals. But, the savings earned will far outweigh what pleasure you forfeit. Sometimes, savings can be achieved by simply taking the time to plan meals, shop sales, find free entertainment, and being creative with gifts and vacations. Other times, extra income is needed.
God knows your needs, so seek Him and find joy on your journey!
If credit card debt is holding you back from reaching your savings goals, get in touch with Christian Credit Counselors. Learn more at crown.org/ccc
If you have more questions about money, call us at 800-722-1976.