A while back, I posted the budget guidelines to give you a quick reference guide to plan your monthly budget. That was a very simple but very popular post.
Today I want to give you a similar quick reference on the topic of savings.
“He who spends more than he earns is sowing the winds of needless self-indulgence from which he is sure to reap the whirlwinds of trouble and humiliation.”
George S. Clason (“The Richest Man in Babylon”)
“There is precious treasure and oil in the dwelling of the wise, But a foolish man swallows it up.”
Proverbs 21:20 (NASB)
A few months back I wrote on the blessings of budgeting. I wanted to share my belief that having a working budget is the key to turning your financial situation around.
When you learn to live on a budget you also receive the blessing of having the ability to learn how to save money.
The skill of saving money can bring its own set of blessings to your financial situation but you have to make it a priority. My wife and I took that step to become intentional about saving money and we can attest to the benefits.
If you choose to do the same, here are some of the blessings you can expect:
- Peace. Emergencies have become simply inconveniences now that we have an emergency fund. If the car breaks down we fix it. If an appliance wears out we replace it. It took time and sacrifice, but we no longer worry about where the money is coming from or having to decide which credit card has the most available balance. The emergency fund will allow you to absorb the blows that will come from time to time.
- Patience. Since my wife and I made the decision to no longer rely on credit cards for purchases (5 years and counting!), we had to learn to wait until we had money saved for what we wanted to buy. We have gone from the “microwave” approach to buying to the “slow cooker” approach. We take our time and we make better choices when we buy something. It takes time to save and we want to make sure we get the best for our money on large expenses.
- Possibilities: Learning to save money is a required skill to plan for the future. When you save for college expenses you can give your kids the gift of starting their professional life without a mountain of debt. When you decide to save for retirement, you take control of what you will do in your senior years. You could keep working if you wanted to do so. But you are not forced into it when perhaps you want to do something else with your time.
The Bible says it is foolish to spend all that you receive but that the wise person saves. What’s keeping you from being intentional about saving money?
What do you need to start? Would love to hear what you think!
“If you do the things you need to do when you need to do them,
then someday you can do the things you want to do when you want to do them.”
Presione aquí para la versión de este artículo en Español.