Are you prepared for life's unexpected financial storms? The Bible has much to say about saving, yet it is a topic that generates both confusion and anxiety for many Christians. Today, let's answer why it's Biblical to save, how much is enough, and when saving crosses the line into hoarding. 

Proverbs 6:6-8  Go to the ant, you sluggard; consider its ways and be wise! It has no commander, no overseer or ruler, yet it stores its provisions in summer and gathers its food at harvest.

It is interesting to note in Proverbs 6:6-8 how God points us to one of His smallest creatures to teach a big lesson. The ant prepares during abundance (summer) for times of need (winter). Therefore, it is wise to save some during the good times for the hard times that always come. It's not a matter of "if," but of "when."  Read Ecclesiastes 3:1-8, which speaks of this in detail.

 

The Six Biblical Purposes for Saving:

1. Emergency Buffer — For unforeseen emergencies: sickness, injury, job loss, unexpected major expenses (AC unit, roof, medical deductibles). Life throws curveballs; savings help us handle them without a financial crisis. 

Proverbs 21:20 "Precious treasure and oil are in a wise man's dwelling, but a foolish man devours it".

2. Helps Avoid Unnecessary Debt — Savings helps us stay out of debt and keeps us from paying interest on depreciating items like cars, furniture, and clothing, which makes depreciation even worse when compounded with interest. 

Proverbs 22:7 "The rich rule over the poor, and the borrower is slave to the lender."

3. Allows for Investment Opportunities — When opportunities arise, capital is available. Proverbs speaks of this in the 31st chapter of "The Wife of Noble Character". 

Proverb 31:16 "She considers a field and buys it; out of her earnings she plants a vineyard."

4. Provides for Family Needs — Savings takes the stress off families when the inevitable tough times arise. 

1 Timothy 5:8 "Anyone who does not provide for their relatives, and especially for their own household, has denied the faith and is worse than an unbeliever."

5. With Savings We Can Help Others — When we have adequate savings, we're positioned to help others in need. 

Proverbs 19:17 "One who is gracious to a poor person lends to the Lord, And He will repay him for his good deed."

6. Retirement/Old Age — When we can no longer work physically, savings provide for our needs. 

Luke 14:28-30 "For which one of you, when he wants to build a tower, does not first sit down and calculate the cost, to see if he has enough to complete it? Otherwise, when he has laid a foundation and is not able to finish, all who are watching it will begin to ridicule him, saying, ‘This person began to build, and was not able to finish!’"

 

How Much Savings Is Enough?

Genesis 41:34-36 (CSB) "Let Pharaoh do this: Let him appoint overseers over the land and take a fifth of the harvest of the land of Egypt during the seven years of abundance. Let them gather all the excess food during these good years that are coming. Under Pharaoh's authority, store the grain in the cities, so they may preserve it as food. The food will be a reserve for the land during the seven years of famine that will take place in the land of Egypt. Then the country will not be wiped out by the famine."

In this scriptural example, the mathematical formula is 1.4 years or approximately 17 months of savings/cash reserves. This number of months is derived by taking a fifth, or 20%, of earnings in this scriptural example during 7 good years and saving it for the inevitable tough times. In application, have up to at least six months of expenses in a stable savings or money market account, and then the remainder of your savings in an account that is accessible without an early withdrawal penalty (i.e. individual account, joint account).

 

How Much Savings Is Too Much

Luke 12:16-21  And he told them this parable: “The ground of a certain rich man yielded an abundant harvest.  He thought to himself, ‘What shall I do? I have no place to store my crops.’ “Then he said, ‘This is what I’ll do. I will tear down my barns and build bigger ones, and there I will store my surplus grain. 19 And I’ll say to myself, “You have plenty of grain laid up for many years. Take life easy; eat, drink and be merry."’  “But God said to him, ‘You fool! This very night your life will be demanded from you. Then who will get what you have prepared for yourself?’ “This is how it will be with whoever stores up things for themselves but is not rich toward God.”

Too much saving crosses into hoarding when it becomes obsessive, focusing on accumulating more and more "stuff" and a larger and larger savings account, even when you have more than enough for a major emergency or a downturn in the economy. When we have to build larger homes, add onto our garages, build or rent extra storage just to store it all, it's become too much. The rich fool's problem wasn't that he had wealth—it was his attitude. We must be careful not to put our trust in the size of our savings account over trusting in God, or even to allow our savings to become our GOD. 

Matthew 6:24-27 (CSB):

"No one can serve two masters, since either he will hate one and love the other, or he will be devoted to one and despise the other. You cannot serve both God and money. Therefore I tell you: Don’t worry about your life, what you will eat or what you will drink; or about your body, what you will wear. Isn’t life more than food and the body more than clothing? Consider the birds of the sky: They don’t sow or reap or gather into barns, yet your heavenly Father feeds them. Aren’t you worth more than they? Can any of you add one moment to his life span by worrying?

 

What Happens Without Savings

Proverbs 6:9-11 (CSB):

"How long will you stay in bed, you slacker? When will you get up from your sleep? A little sleep, a little slumber, a little folding of the arms to rest, and your poverty will come like a robber, your need, like a bandit."

1. Unforeseen Debt — Emergencies happen, and without savings, debt becomes the only option
2. Extreme Stress — Both financial and physical; money problems are a leading cause of health issues
3. Can become a Burden to others — When we don't prepare, others have to pick up the slack
4. Can Damage Relationships — Financial stress can break up marriages and strain family relationships
5. Can Create Negative Thought Patterns — Constant financial worry creates anxiety and despair
6. Causes Instability — Financial and emotional; no margin means constant crisis mode

 

A Practical Starting Point

Proverbs 21:5 "The plans of the diligent certainly lead to profit, but anyone who is reckless certainly becomes poor."

Proverbs 13:11 Dishonest money dwindles away, but whoever gathers money little by little makes it grow.

If saving is too difficult, start little by little, as scripture says, just setting aside $5-10 per week. Stop buying $5-10 cups of coffee and unnecessary eating out, and increase the amount you save slowly over time. The key is to start small and build the habit. Diligence and consistency matter more than the starting amount

For those unable to save, I highly recommend taking a Crown Ministries course (crown.org) or attending a Financial Peace University class. 

 

Conclusion

• Saving is biblical—God teaches it through His word and even through His creation (the ant)
• The purpose of savings is not to hoard or trust in wealth, but to:

• Provide for our families
• Prepare for difficult seasons
• Position ourselves to help others
• Be wise stewards of what God has entrusted to us

• Balance: Save diligently, but don't let money become your master
• Be rich toward God, not just rich in possessions

• Save during the good years (when you're healthy and have a job) for the difficult ones, which are certain to come, as life is this way. 

About Author Bob Barber, CWS, CKA