What Does the Bible Say about Saving
Henry Ford said, “One of the greatest discoveries a man makes is to find he can do what he was afraid he couldn’t do.” And, many Americans are afraid they can’t save money! But, guess what! You can!
The key to saving is having the right mindset! It requires humility, a long-term perspective, and the ability to reject the lies of materialism.
One in three people have no savings. According to a 2017 GoBanking Rates survey, more than half of Americans have less than $1000 in their savings account. That means you don’t have ten one hundred dollar bills. That probably includes you, a friend, or family member.
If you charge everything and don’t pay off your credit cards in full every month, you’re probably paying at least 50% more for everything you buy.
Lifestyle choices often lead people into debt. By breaking the credit habit, you can save and pay for your purchases ahead of time. It’s a novel idea in today’s world!
By saving, you can buy things when they are on sale and make better spending choices. You can save thousands on groceries, by stocking up on nonperishable or frozen groceries when they go on sale. You can pay cash for your children’s shoes, sports, and cars.
Take a serious look at where you spend your money. Study your bank and card statements and record your spending for a month to get a true picture.
According to military.com 10 of the biggest money drains are: coffee, cigarettes, alcohol, bottled water, manicures, car washes, buying lunch, vending machine snacks, interest on credit cards, and unused memberships.
Saving for the future is essential if you want to get ahead financially. Money saved can cover annual expenses like vehicle maintenance, minor home repairs, replacing appliances, property and income taxes, vacations, birthdays and Christmas.
Until you learn to save you will always be a “slave to the lender”. Begin saving today and make your money work for you!
Did you know that saving should be the first step in getting out of debt? If you want more help to pay off debt and find financial freedom, I want you to go through our new mini video series, 5 Steps to Debt Free Living. You can find it for free today at crown.org/debtfree or call us at 800-722-1976