Most of us are taught the value of saving from an early age. You need to save for emergencies and important purchases that exceed a single paycheck. However, you may have questions around this. How much saving is too much? How much should I save at this financial point in my life?
The Bible teaches us to be generous and not to covet our riches. There may be times when you worry that your savings have reached a point of excess. It’s normal to ask yourself, “Should I invest this money, or should I put it toward something else?”
Proverbs addresses the issue of money and savings head on. Proverbs 13:11 says:
“Wealth gained hastily will dwindle, but whoever gathers little by little will increase it.”
It’s important for us to be intentional with the wealth we gain over time. When we only focus on big paydays, our judgment is clouded by the love of money. We can begin to seek possessions and status over meaningful investments.
Saving might seem insignificant at the moment, but it multiplies to help us achieve worthwhile financial goals for our future.
In Proverbs 13:22, we are again reminded of the importance of saving:
“A good man leaves an inheritance to his children’s children, but the sinner’s wealth is laid up for the righteous.”
Saving isn’t just about you and your financial wellbeing. It’s about building generational wealth that your children and grandchildren can use to further their lives. By saving, you can provide educational opportunities, housing, or a nice nest egg for your family to use in emergencies.
It’s important to start estate planning early so that you can leave a legacy that matters.
Ways Savings Can Help Others
- Paying for Your Children’s Education – Investing your money to save for college can be one of the most beneficial ways to give back to your family and your community.
- Staying Self-Sufficient After Retirement – Retirement saving isn’t just about vacations and big flashy purchases. A robust savings account helps you care for yourself so your family doesn’t have to worry about you during retirement.
- Charitable Giving – When you’re working your way up in a career, you may not have a lot of disposable income to give to charitable causes. Having hungry mouths to feed at home might minimize the amount you have in your budget for donations. However, saving over time can allow you to give charitable gifts in retirement or through your inheritance after you pass.
Saving your money prepares you for God’s work now and in the future. Make the most of your savings by investing a portion of it in companies and organizations that are working to glorify God.