Bible Verses About Saving Money
8 Biblical Ways To Save Money
Here are 8 Biblical ways to save money and possessions:
- Put Saved Money in a Safe Place
- Save According To How Much You Earn
- Save by Accumulating Over Time
- Managing Your Stores
- Fearing God Leads to Wisdom to Save
- Be Diligent in Work
- Living Below Your Means
- Avoid Expensive Pleasures
Finally, we'll end this post by discussing some of the benefits of saving money.
1. Put Saved Money in a Safe Place
The idea of saving money would require putting it in a place where it could not be accessed easily. Do you have a savings account in your bank that you can create for saving a certain amount or percentage each time you get an income? You may ask your bank to add on another account just for that which can be linked to your income account. Consider setting limits for withdrawals on that account.
But Jehoiada the priest took a chest and bored a hole in its lid, and set it beside the altar, on the right side as one comes into the LORD’s house; and the priests who kept the threshold put all the money that was brought into the LORD’s house into it. (2 Kings 12:9)
2. Saving Money According To Earnings
Saving money will be easier when you have a system in place or a routine. You may want to create a budget of your expenses and then plan on a realistic amount to be saved from your income each month. Set aside a day of each month where you will save according to that plan.
On the first day of every week, let each one of you save as he may prosper, that no collections are made when I come. (1 Corinthians 16:2)
3. Saving Money by Accumulating Over Time
These Proverbs mean that you can accumulate little by little and over time, that can be a great amount. Also when you have plenty, you may consider saving that part more for latter times when you may not have as much income. In other words, every cent counts. So don’t be discouraged if you were not able to save the amount that you had planned, just save what you can, even if it is a small amount. What matters here is developing a habit of saving.
Get rich quick schemes always fail in the end. Those who accumulate wealth dishonestly or by luck do not know how to manage it. They will not be able to keep it for the long term.
Go to the ant, you sluggard. Consider her ways, and be wise; which having no chief, overseer, or ruler, provides her bread in the summer, and gathers her food in the harvest. (Proverbs 6:6-8)
Wealth gained dishonestly dwindles away, but he who gathers by hand makes it grow. (Proverbs 13:11)
The ants are not a strong people, yet they provide their food in the summer. (Proverbs 30:25)
4. Bible Verses About Managing Your Stores
After you have a savings account and system in place, you would need some management of the savings account, in the sense of checking the amount of interest the bank would provide and if there’s a better option elsewhere that could provide a higher rate of interest for your savings. For this, you would want a stable growth with low risk.
He fortified the strongholds and put captains in them with stores of food, oil and wine. (2 Chronicles 11:11)
You ought therefore to have deposited my money with the bankers, and at my coming I should have received back my own with interest. (Matthew 25:27)
Then why didn’t you deposit my money in the bank, and at my coming, I might have earned interest on it? (Luke 19:23)
5. Fearing God Leads to Wisdom to Save
The Proverbs wrote that the fear of God is the beginning of wisdom. Pray to God to provide you that wisdom as it said in the bible that God can give wisdom to those who asked Him for it. When you pray to God, you can experience his guidance and wisdom in your life for this matter.
It is not a guarantee when you fear God that you will get rich. As Jesus did mention that in this world we will have trouble. It is important to fear God regardless of any possible reward. When we fear God, we will choose to do the right thing and it will help protect us from making mistakes that we will regret.
Wisdom was also mentioned in Proverbs 3 and Proverbs 8 as related to gaining riches but may not be riches itself, it could be something worth more than money.
Praise the LORD! Blessed is the man who fears the LORD, who delights greatly in his commandments. His offspring will be mighty in the land. The generation of the upright will be blessed. Wealth and riches are in his house. His righteousness endures forever. (Psalm 112:1-3)
For her good profit is better than getting silver, and her return is better than fine gold. (Proverbs 3:14)
Length of days is in her right hand. In her left hand are riches and honor. (Proverbs 3:16)
With me are riches, honor, enduring wealth, and prosperity. (Proverbs 8:18)
My fruit is better than gold, yes, than fine gold, my yield than choice silver. (Proverbs 8:19)
That I may give wealth to those who love me. I fill their treasuries. (Proverbs 8:21)
The crown of the wise is their riches, but the folly of fools crowns them with folly. (Proverbs 14:24)
6. Bible Verses About Being Diligent in Work
The Bible extols hard work and being diligent. That requires discipline and pushing through when times get hard. Hard work and diligent work will help you shine at your workplace. As a result, you may get promoted or recognized, and with that it may bring more opportunities for growth. With more promotion and more opportunities for growth, your income will increase as a result, and so will your savings.
This is an encouraging point to those whose work is difficult to keep pressing on when you are still able to. This is also encouraging that if you don’t feel recognized or no one knows your hard work. Keep at it. If you keep doing good work, someone is going to notice.
He becomes poor who works with a lazy hand, but the hand of the diligent brings wealth. He who gathers in summer is a wise son, but he who sleeps during the harvest is a son who causes shame. (Proverbs 10:4-5)
He who tills his land shall have plenty of bread, but he who chases fantasies is void of understanding. (Proverbs 12:11)
One who works his land will have an abundance of food; but one who chases fantasies will have his fill of poverty. (Proverbs 28:19)
7. Save Money by Living Below Your Means
Living below your means that you should only buy things or pay for things that you can afford plus you will have margin left over at the end of the month. If you are struggling to make ends meet, try to find bargains at thrift stores/dollar shops, instead of somewhere that sells it at a higher price. Take a look at what you are spending by tracking your expenses, to help you get an awareness of what you are spending on. When you have tracked it, the next time, see if what you are paying for is below your means or if it is above your means.
For example, if you are trying to save money, and you need a face cream, try to look for a drug store type instead of high end products which is not sustainable for your income. Close your eyes and think of how much you would ideally spend on a meal that you will enjoy but yet feel guilt free. Write that number down. (i.e. If it is $4, you could go to Steak and Shake for 4 under $4, or you could buy some fresh vegetables).
There are some who pretend to be rich, yet have nothing. There are some who pretend to be poor, yet have great wealth. (Proverbs 13:7)
Don’t work so hard that your health gets ruined, instead, restrain yourself from spending: Don’t weary yourself to be rich. In your wisdom, show restraint. (Proverbs 23:4)
There is precious treasure and oil in the dwelling of the wise, but a foolish man swallows it up. (Proverbs 21:20)
8. Avoid Expensive Pleasures
Advertisements these days come in the form of social media. When you see how glamorous, healthy or happy those people are when they used so and so product, you may think those things may be the thing you need in your life. These advertisements are deceptive in nature. Try to acquire a simple taste of simple things to bring pleasure in life.
Simple tastes = cheap or free.
Free pleasures are many around, you just need to explore them. Look at the public library near you, take a walk in the neighborhood, or create a game out of creating a delicious meal from your frozen food stores. Try drawing, singing, and simply smiling. You need to get your pleasures from simple things to prevent yourself from buying expensive things for pleasure.
Here are some bible verses encouraging us to avoid expensive pleasures
He who loves pleasure will be a poor man. He who loves wine and oil won’t be rich. (Proverbs 21:17)
Servants, in the same way, must be reverent, not double-tongued, not addicted to much wine, not greedy for money. (1 Timothy 3:8)
Bible Verses On Benefits of Saving Money
The Bible mentions quite a few ways people used saved money in Biblical times. Some are still obvious today. Here are 6 benefits of savings according to the Bible:
- For basic needs like food and shelter
- Preparing for emergencies
- Making friends
- An inheritance for your children
- Giving to others in need
- Worshiping and serving God
Savings for Basic Needs
One of the earliest uses of money in the bible is to use it to buy food and water. It can also be used to buy other things in life. Savings can help develop a city and also build houses. In the Proverbs here it says that it is like an unscalable wall in the rich man’s imagination. This is because that it can be used in powerful ways, thus sometimes it gives an illusion that it can protect us from all kinds of bad things.
Here are some bible verses related to savings that can be used for basic needs:
Food and Water
You shall purchase food from them for money, that you may eat. You shall also buy water from them for money, that you may drink. (Deuteronomy 2:6)
You shall sell me food for money, that I may eat; and give me water for money, that I may drink. Just let me pass through on my feet. (Deuteronomy 2:28)
A feast is made for laughter, and wine makes the life glad; and money is the answer for all things. (Ecclesiastes 10:19)
Shelter or Protection
The rich man’s wealth is his strong city. The destruction of the poor is their poverty. (Proverbs 10:15)
The rich man’s wealth is his strong city, like an unscalable wall in his own imagination. (Proverbs 18:11)
Savings Help Prepare for Emergencies
In the bible, Joseph was given wisdom by God to interpret the dreams of the Egyptian Pharaoh, which warned them of the upcoming 7 years of plenty followed by the 7 years of famine. Joseph used the wisdom of God to advise the Egyptians to gather the food during the years and plenty.
When the famine hits the whole region had no food except the Egypt area as it was by the grace of God that Joseph had already stored those food. As a result, they were able to not just survive but to help people from other regions who came to them for food.
Here are some bible verses on how savings help prepare for emergencies.
Let them gather all the food of these good years that come, and store grain under the hand of Pharaoh for food in the cities, and let them keep it. (Genesis 41:35)
He gathered up all the food of the seven years which were in the land of Egypt, and laid up the food in the cities. He stored food in each city from the fields around that city. (Genesis 41:48)
Money can also help pay for healthcare. It can be a form of protection for disasters. However the bible warned us not to put our trust in our savings. We need to put our trust in God’s character and His faithfulness.
There was a great famine in Samaria. Behold, they besieged it until a donkey’s head was sold for eighty pieces of silver, and the fourth part of a kab of dove’s dung for five pieces of silver. (2 Kings 6:25)
The ransom of a man’s life is his riches, but the poor hear no threats. (Proverbs 13:8)
For wisdom is a defense, even as money is a defense; but the excellency of knowledge is that wisdom preserves the life of him who has it. (Ecclesiastes 7:12)
But ten men were found among those who said to Ishmael, “Don’t kill us; for we have stores hidden in the field, of wheat, and of barley, and of oil, and of honey.” So he stopped, and didn’t kill them among their brothers. (Jeremiah 41:8)
Riches Bring Many Friends
It can be socially desirable to have more savings. With that, the bible tells us that the rich person has many friends and the poor person is shunned even by his own neighbor.
This is an unfortunate effect of wealth and poverty. It shows the Bible's wisdom in providing a wide range of insight into money and how human behavior is influenced by it. See this post for more information on what the Bible says about money.
The poor person is shunned even by his own neighbor, but the rich person has many friends. (Proverbs 14:20)
Wealth adds many friends, but the poor is separated from his friend. (Proverbs 19:4)
For Children's Inheritance
Money saved can be provided to one’s children, as inheritance. This can be a form of love that provides and leaves a good legacy or example to your children that you have done your duty as a parent in their lives. However how the children will use the money will really depend on them. Besides leaving money for the children, one should also educate children on how to use money with the wisdom from God. So that when they inherit the money, they would be able to be good stewards and carry on your legacy.
You fill the belly of your cherished ones. Your sons have plenty, and they store up wealth for their children. (Psalm 17:14b)
A good man leaves an inheritance to his children’s children, but the wealth of the sinner is stored for the righteous. (Proverbs 13:22)
House and riches are an inheritance from fathers, but a prudent wife is from the LORD. (Proverbs 19:14)
For Giving To The Needy
Money can be used to help others in need, to provide for what they lacked, and to do good. See this post for more examples of helping the poor.
As sorrowful yet always rejoicing, as poor yet making many rich, as having nothing and yet possessing all things. (2 Corinthians 6:10)
How in a severe ordeal of affliction, the abundance of their joy and their deep poverty abounded to the riches of their generosity. (2 Corinthians 8:2)
That they do good, that they be rich in good works, that they be ready to distribute, willing to share; (1 Timothy 6:18)
For Worshipping and Serving God
(See the full post on offerings to God. Here we include just a small sample of relevant verses.)
The bible talked at great length of using the money one has to build the Lord’s temple and to use it in ways in the worship of the Lord. Where the treasure is, there the heart will be also. When we love the Lord with all our heart, a natural response is to give a portion of what God gave us back to him. It all belonged to him in the first place- our ability to work, our health, our intelligence and our jobs.
If this article is helpful, check out Bible Verses About Giving for related topics.
They came into the house and saw the young child with Mary, his mother, and they fell down and worshiped him. Opening their treasures, they offered to him gifts: gold, frankincense, and myrrh. (Matthew 2:11)
Jesus sat down opposite the treasury and saw how the multitude cast money into the treasury. Many who were rich cast in much. (Mark 12:41)
They came, both men and women, as many as were willing-hearted, and brought brooches, earrings, signet rings, and armlets, all jewels of gold; even every man who offered an offering of gold to the LORD. (Exodus 35:22)
Everyone who offered an offering of silver and bronze brought the LORD’s offering; and everyone with whom was found acacia wood for any work of the service, brought it. (Exodus 35:24)
King David also dedicated these to the LORD, with the silver and the gold that he carried away from all the nations: from Edom, from Moab, from the children of Ammon, from the Philistines, and from Amalek. (1 Chronicles 18:11)
Now, behold, in my affliction I have prepared for the LORD’s house one hundred thousand talents of gold, one million talents of silver, and bronze and iron without weight; for it is in abundance. I have also prepared timber and stone; and you may add to them. (1 Chronicles 22:14)
Blessed be The LORD, the God of our fathers, who has put such a thing as this in the king’s heart, to beautify the LORD’s house which is in Jerusalem; (Ezra 7:27)
I said to them, “You are holy to the LORD, and the vessels are holy. The silver and the gold are a free will offering to the LORD, the God of your fathers. (Ezra 8:28)
Conclusion
There are many more things that the bible says about money, including the correct perspective one should have of money. We need to remember that God is the source of all we have, our health, our ability to work, and our jobs. We need to thank Him for all the blessings he has already given us.
There is a lot of uncertainty even if we manage to save up a lot of money. The point is not to put your trust in money but to put your trust in Jesus our Lord. This life is but temporary and so are our possessions. May you continue to walk in a way that will honor God with your possessions and understand that what is eternal are what matters most.There are also wrong ways of saving money, stay tuned for another post on that topic as well.
Bible version: the public domain World English Bible (WEB) has been used throughout this post. The WEB translation of "Yahweh" has been changed to "the LORD" which is more familiar to most readers.