Build Your Savings – Part 1

Want to increase your savings?

To develop a radical saving habit, ask God to act on your behalf. Proverbs 16:9 states, “The heart of man plans his way, but the Lord establishes his steps.” So, begin with prayer. Then, write down your goal. Be specific. How much do you want to save? For what? An emergency? A down payment for a house? Paying cash for a car? Retirement? Write it and post it where you’ll see it regularly. Put a copy in your wallet, in your car, and on your bathroom mirror. Record your progress in a notebook or on a spreadsheet to keep you motivated. Here’s an example: “With the Lord’s help and a disciplined budget, I’ll deposit $400 a month in an emergency savings account until I reach my goal of $5,000.”

Next, establish a plan. Proverbs 29:18 observes, “Where there is no vision, the people perish.” In this case, a vision is an expression of a better future. Stay motivated by focusing on the benefits of achieving your goal. Here are a few to consider: lower stress, greater freedom, more generosity, and the joy of knowing your finances are getting healthier. Finally, get practical. You may need to open a new bank account or set up automated deposits. They can prevent excess spending and help you become more saving-conscious. You can do this!

Is your savings restricted by excessive credit card debt? Let Christian Credit Counselors help. They can create a debt management plan specifically for you. For more information, visit online at crown.org/ccc.