Savings Day – Automatic Deposits

Need help saving more money?

Saving protects and prepares us for planned and unexpected expenses. Whether for emergencies, vacation, car, home, or retirement, setting aside money is essential. Everyone can save some amount of money. Even a small amount adds up over time. Most people don’t save because they consistently spend all of their income and then some. Proverbs 21:17 says,  “Whoever loves pleasure will become poor; whoever loves wine and olive oil will never be rich.”

When people love pleasure and luxury, spending more than they earn, it can lead to impoverishment. Accept the fact that you’re not at liberty to spend everything you make. Saving money requires discipline and control of your desires and impulses. Most people who struggle to save money make a crucial mistake. They strive to maintain a certain standard of living while trying to squeeze savings into their spending plan – if they had one.

Now Biblical financial planning works the other way around. You give first, save second, then determine your standard of living. Now I’ve learned to save by forgetting that I had the money to spend. An automatic deposit prevents me from spending it. Sound too simple? It works! Set up an automatic transfer that deposits a certain amount from your paycheck into a separate account. This mindless way of saving frees you from the emotions of making paycheck sacrifices. Keep it out of sight and out of mind, until the time you need it.

If credit card debt limits your ability to save, I recommend Christian Credit Counselors. They can create a debt management plan specifically for you. For more information call the Crown Helpline: 800-722-1976 or visit online at crown.org/ccc.