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  • Writer's pictureGODVERSITY

DAY 5/7 Financial Freedom - Savings Prevents Pitfalls


"Dishonest money dwindles away, but he who gathers money little by little makes it grow" - Proverbs 13:11.



Did you know that the average person in our country is three weeks away from bankruptcy? He/she has little or no money saved, regular, fixed obligations to support a relatively “high” lifestyle, significant monthly credit obligations and a total dependence on next week’s paycheck to keep the budget afloat.

Americans are starting 2016 with more job security, but most are still theoretically only one paycheck away from the street.

Approximately 73% of Americans have no emergency savings for things such as a $1,000 emergency room visit or a $500 car repair, according to a survey of 1,000 adults by personal finance website, up slightly from 62% last year. Faced with an emergency, they say they would raise the money by reducing spending elsewhere (23%), borrowing from family and/or friends (15%) or using credit cards to bridge the gap (15%).

This lack of emergency savings could be a problem for millions of Americans. More than four in 10 Americans either experienced a major unexpected expense over the past 12 months or had an immediate family member who had an unexpected expense, Bankrate found. (The survey didn’t specify the impact of that expense.)

“Without emergency savings, you may not have money to cover needed home repairs,” says Signe-Mary McKernan, senior fellow and economist at the Urban Institute, a nonprofit organization that focuses on social and economic policy. “Similarly, without emergency savings, people could raid their retirement account.”



The major reason most people are poor savers is because we live in a culture that does not practice self-denial. When we want something, we want it now!

However, Scripture encourages us to save. “The wise man saves for the future, but the foolish man spends whatever he gets.” (Proverbs 21:20 LB) By contrast, society says, “Spend all you make.”

Regular saving makes provision for tomorrow. It builds a financial safety cushion for emergencies. A good rule of thumb is to save the equivalent of two to three months’ salary, in case you are unable to work due to illness or injury.

When saving, we must also keep balance in mind. If we concentrate solely on saving, our focus and affection will gravitate there. We must be careful to balance our saving and investing by giving generously to the Lord. When we receive income, the first check we write should be to the Lord, the second check for our savings.

Remember, the most effective way to save is to start early and be consistent



As Christians we are always trying to look to God's word in order to learn about how we should be living our lives – when it comes to finances, and our personal lives and everything in between.

The Bible has a myriad of verses that can give us wisdom about how to deal with our money, and the area of investing is no different.

While this post is about finding Biblical wisdom about investing, it should be made clear up front that we're told to not put our hopes in wealth and riches, but in God.

"Command those who are rich in this present world not to be arrogant nor to put their hope in wealth, which is so uncertain, but to put their hope in God, who richly provides us with everything for our enjoyment." 1 Timothy 6:17

While we are to put our hope in God, that doesn't mean that we shouldn't be planning ahead for the future, saving, investing and diversifying our holdings. In fact we're told that these are all wise things to do. So let's take a look at 30 bible verses about investing.



Saving up for a rainy day, putting your money to work and multiplying it is a wise thing to do.

1. Proverbs 21:20 The wise store up choice food and olive oil, but fools gulp theirs down.

2. Proverbs 21:5 The plans of the diligent lead to profit as surely as haste leads to poverty.

3. Matthew 25:14-30 “For it is just like a man about to go on a journey, who called his own slaves and entrusted his possessions to them. To one he gave five talents, to another, two, and to another, one, each according to his own ability; and he went on his journey. Immediately the one who had received the five talents went and traded with them, and gained five more talents. In the same manner the one who had received the two talents gained two more. But he who received the one talent went away, and dug a hole in the ground and hid his master’s money. Now after a long time the master of those slaves came and settled accounts with them.

The one who had received the five talents came up and brought five more talents, saying, ‘Master, you entrusted five talents to me. See, I have gained five more talents.’ His master said to him, ‘Well done, good and faithful slave You were faithful with a few things, I will put you in charge of many things; enter into the joy of your master.’ Also the one who had received the two talents came up and said, ‘Master, you entrusted two talents to me. See, I have gained two more talents.’ His master said to him, ‘Well done, good and faithful slave. You were faithful with a few things, I will put you in charge of many things; enter into the joy of your master.’ And the one also who had received the one talent came up and said, ‘Master, I knew you to be a hard man, reaping where you did not sow and gathering where you scattered no seed. And I was afraid, and went away and hid your talent in the ground. See, you have what is yours.’ But his master answered and said to him, ‘You wicked, lazy slave, you knew that I reap where I did not sow and gather where I scattered no seed. ‘Then you ought to have put my money in the bank, and on my arrival I would have received my money back with interest. Therefore take away the talent from him, and give it to the one who has the ten talents.’ For to everyone who has, more shall be given, and he will have an abundance; but from the one who does not have, even what he does have shall be taken away. Throw out the worthless slave into the outer darkness; in that place there will be weeping and gnashing of teeth.”

4. Genesis 41:34-36 Let Pharaoh appoint commissioners over the land to take a fifth of the harvest of Egypt during the seven years of abundance. They should collect all the food of these good years that are coming and store up the grain under the authority of Pharaoh, to be kept in the cities for food. This food should be held in reserve for the country, to be used during the seven years of famine that will come upon Egypt, so that the country may not be ruined by the famine.

5. 1 Corinthians 16:2 On the first day of every week, each one of you should set aside a sum of money in keeping with your income, saving it up, so that when I come no collections will have to be made.

6. Proverbs 27:12 The prudent see danger and take refuge,but the simple keep going and pay the penalty.

7. Proverbs 30:24-25 Four things on earth are small, yet they are extremely wise: Ants are creatures of little strength, yet they store up their food in the summer;

Get Good Advice, Plan Ahead, Save, Diversify And Be Faithful

Here are a few of the things I learned from the verses in this article:

..if riches increase, do not set your heart on them Psalm 62:10

  • Get advice from others who know more than you.

  • Only a fool doesn't plan ahead.

  • It's good to save, invest and multiply your holdings.

  • Don't forget to have diverse holdings in order to reduce risk.

  • Invest in a way that's faithful to God's word, and that doesn't harm others.

  • Don't rely on money, rely on God.

It's good to plan ahead and to provide for your family, but don't allow money to become your ultimate goal. Instead, set your sights on Christ and his example.


If you have problems with any of the steps in this article, please ask a question for more help, or post in the comments section below. God bless you.

Reference: Barnabas Foundation. Toll Free: 888-448-3040 Email:


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