What Does The Bible Say About Saving Money?

Many Christians believe they must save for retirement and invest in the future. Many people find it difficult to follow a practical theology when managing their money, especially when saving for a distant or uncertain future.

This is difficult because so many opinions exist on the topic. Some advocate a life of denial, avoiding all luxuries, and saving for the kingdom. Others recommend budgeting, avoiding borrowing, and regularly saving to have more wealth later in life. FIRE (Financial Independence/Retire Early), a movement that promotes extreme thrift and savings to enable one to retire early, is a part of a broader culture.

These seemingly contradictory messages make it difficult to develop a personal money theology that balances Biblical orthodoxy and practicality when saving for the future.

These seven principles from the Bible may be of help.

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The Bible And Saving Money

It is Biblical to Save for Your Future Needs

Many Christians believe that saving for retirement is disobedient and don’t want to do so. (Usually citing Matthew 6:19-20), or feel guilty about saving money for others who are so in need. Others think it’s unnecessary because God will take good care of them (Isa. 46:4). Some people would rather save than spend all they earn (Prov. 13:18).

It may surprise you to discover that the Bible encourages saving. Scripture encourages saving for future, known needs (Gen. 41; Prov. 6:6-11; Prov. 21:5; Prov. 21:20).

According to the Bible, saving wisely and investing for your future while still being rich toward God is possible by “storing treasures in heaven.” (Luke 12-21; Matt. 6:19-21).

Serving Others and Honoring God is a way to save

Saving money could be seen as selfish. This can happen. We need only see Luke12 about the rich fool. But it doesn’t have to be.

Because it values money as a gift from God, saving honors God ( James 1:16-17 ). Luke 12;47-48

Stewardship is a way to be more responsive to important needs (Eph. 4:28). You can respond faster and possibly in a more important way (Prov. 3:27). You may be able to save money to bless your heirs and leave them an inheritance. (Proverbs13:22).

Procrastination is a Mistake

All of us tend to put off things. You can lose one of the most powerful financial forces, tax-free compound interest or interest on interest.

People don’t put off saving because they believe it is not important. They expect to have more income in the future or other pressing needs, such as debt payments, low wages, and healthcare expenses. They hope to be able to do it in the future.

Even if the future does not look promising, retirement money has less time to grow. (Matthew 25:27) This means that you will have to contribute more to get the same amount as if you start today.

Start small and work your way up. You will soon gain momentum.

Debt is debilitating

The Bible is not silent on debt. While there weren’t auto loans or Visa cards in Jesus’s day, lending and borrowing were part of the economic landscape. Although the Bible does not explicitly prohibit debt, it identifies it as a form of bondage (Prov. 22:7).

There is also a direct correlation between high spending, excessive debt, and low savings rates. Debt is a costly deterrent to saving. It is impossible to use the money required to service debt to save money. This is the “opportunity price” of debt. Compare borrowing $1,000, paying 12 percent interest ($120), to saving $1,000 and investing it at 6.0% ($60). The true economic benefit is 18% ($180).

Smart Investing is Right and Good

Investing isn’t stock trading. It’s not about betting on the future with a tip from your brother-in-law. This speculation is like gambling on the future; you most often lose more than you win (Prov. 28:19; 1 Tim. 6:10).

If done correctly, investing is something to be encouraged. It’s about investing in real businesses that provide products and services to customers. We hope that the companies we invest in will do well and return a fair amount of our investment (Prov. 31:10-31; Eccl. 11:1-6).

Many of us would prefer to invest in low-cost mutual and exchange-traded ETFs (ETFs), rather than individual bonds and stocks. High fees and expenses can hurt returns. We should also be aware of buying and selling too quickly due to emotion.

Saving Can Bring You Temptations

It is possible to be tempted by greed and fear to save or for selfish reasons such as a need for independence from God.

Saving out of fear is a sign that you don’t trust God (1 Tim. 6:17). You’re missing the point if you do it because you are greedy (Prov. Mark 8:36, Luke 12:15. Once you have some wealth, you won’t want it to make you the same miser as the one we read about Ecclesiastes 5 and the “rich fool” Luke12. Both aren’t saving, but they’re focusing on themselves and putting their faith in wealth rather than God.

It is possible to be tempted by greed and fear to save, or for selfish reasons such as a need for independence from God.

Hoarders are driven by the desire to keep wealth rather than risk it for the benefit of others. It can also bring curses (Prov. 11:26), and judgment (Luke 12,:16-21; James 5,:3; Ps. 39:6; Eccl. 5:13; Zech. 9:3).

Balance is key

The key is to find the right balance.

One, we must save money and make wise investments for our future needs. We must be generous and rely on God for our future.

Whatever decision we make, it should be made out of gratitude to God for all he has done – He is gracious, loving, and merciful (Ps. 107:8-9) – and based on his biblical wisdom on the topic.


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In conclusion, the Bible has a lot to say about saving money. God wants us to be good stewards of our resources, including our money. He wants us to use it wisely and for His glory. When we save money, we are good stewards of what God has entrusted us. We are also showing trust in God, that He will provide for our needs. Saving money is a way to show our faith in God, which He blesses.

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