Earning and Saving, God’s Way

Posted by Brance on June 5th, 2005 filed in The Bible And Money

This morning we’re going to talk about the importance of SAVING. Now before you can save money, you have to EARN some money, so let’s talk about earning money first.

The Bible is full of advice about the earning of money.

This really is important. Owning my own business I’ve learned that you can burn yourself out if you work to many days in a row. You really do need a day to relax, read a book, play outside, just not work.

This verse is talking about integrity. In Biblical times they had to weigh the food and money to make sure they were trading accurately. Some people would set up scales that were adjusted to short the customer. This is lying and is a lack of integrity.

There is a book called the millionaire mind which studies millionaire in america. In the course of researching to write the book, the author interviewed over 700 millionaires. when he asked them to tell him the top thirty factors that contributed to their success, 90% of them said integrity was #1. By now I know you would be disappointed if I didn’t look up at least one word in webster’s dictionary.

integrity - Moral soundness; honesty; freedom from corrupting influence or motive

OK, we know we should be honest and not cheat people, but there are two more points I’d like to make about earning money. Here’s the first one.

These verses are telling us how important diligence is.

diligent - 1. Prosecuted with careful attention and effort; careful; painstaking; not careless or negligent.

2. Interestedly and perseveringly attentive; steady and earnest in application to a subject or pursuit; assiduous; industrious.

diligent people plan and then follow through. this leads to wealth, not get rich quick schemes. we’ll talk more about diligence in a minute. but first let’s look at something the apostle paul wrote in the new testament.

Wow! that’s pretty strong. if you won’t work, you don’t eat. notice it didn’t say “if a man can not work”, it said “will not”. that’s an important distinction.

Here’s my final point about earning money. remember last week we talked about our witness to the world? the way we earn money should be a witness. we should not take a job that might harm our witness even if it pays well.

Now we’re ready to talk about saving money. I don’t know about you, but I like to spend money. Money is fun. You can buy stuff that is fun. Saving isn’t really all that fun. it’s boring. it requires diligence. but the Bible tells us to save. in fact, it says it’s wise to save, and foolish to spend all you have.

So what’s going on in this verse? it’s wise to store up “choice food and oil”. well first of all, it’s interesting that the word “choice” is used. it means the food that is stored is above average. other translations just put “treasure” or “desirable treasure”. oil is important for several reasons. oil was used in cooking and for light in the home. so what is the wise person doing? compare the end of the verse. the foolish man devours, or uses up, all he has. he’s spending everything. the wise person on the other hand, must be living on less than he makes so that he can save. but why is he saving?

There are several reasons to save.

1. save for an emergency fund (contingency)

every Christian financial counselor I’ve read, and most non-christians ones as well, will tell you to save for emergencies. they all tell you that you should have in savings at least 3-6 months worth of expenses. right now you may not have many monthly expenses, but in the future you will. as your expenses increase, so should your savings. I would suggest that your goal right now be $500 in the bank. this money is for emergencies, it’s not for spending.

2. save up to buy things

Another verse about diligence. but look at this, it says the desires of a diligent person are completely satisfied. he saves up the money he earns and is able to purchase the things he desires.

The things you guys will want to save for are:

a car
college
you name it…

3. saving for retirement

Ok, this one has been getting some press lately with the president talking about private investment accounts for social security.

If the ant plans in the summer for winter, shouldn’t we plan when we’re young for when we’re old? now some of you might get jobs that will provide some kind of retirement plan. most companies no longer offer a strait pension that you don’t have to contribute to. most of the plans being offered now require you to invest or there is nothing going on. if you don’t get a job like this, then it’s entirely up to you. if you start young you’ll be way ahead.

• In considering our responsibility to our families Paul wrote, “If anyone does not provide for his relatives, and especially for his immediate family, he has denied the faith and is worse than an unbeliever” (1 Tim. 5:8). The Greek word pronoeo translated “provide” comes from two words: the preposition pro meaning “before, in front of, or prior to” and the root word noeo meaning “to perceive, think, consider, see, and understand.” Providing for ourselves and our families includes the responsibility to look down the road and save for the “lean years”—circumstances or problems that sooner or later affect us all.

now remember that the main focus is giving. Larry Burkett said that the only difference between saving and hoarding is attitude.

• But, just as with any of God’s guidelines for living, there are two dangers in taking a principle to the extreme. When Jesus said, “Do not store up for yourselves treasures on earth, where moth and rust destroy, and where thieves break in and steal” (Mt. 6:19), He wasn’t saying don’t save. Rather, He was warning that continued saving beyond reasonable needs becomes hoarding, which is condemned throughout Scripture. For an excellent case study, read the parable of the rich fool in Luke 12:16-21. The second danger of saving beyond what is necessary is that we wrongly trust in our savings rather than in God.
Proverbs 11:28 reminds us this is a surefire formula for failure: “He who trusts in his riches will fall, but the righteous will thrive like a green leaf.”
Scripture seems to present a balance. We should save some of our income but not store up all our treasures on earth. Proverbs 30:8-9 helps us to remember and maintain that balance: “Give me neither poverty nor riches, but give me only my daily bread. Otherwise, I may have too much and disown you and say, ‘Who is the LORD?’ Or I may become poor and steal, and so dishonor the name of my God.”

• By Jody Humber, CFP
“Dollars & Sense”