Save for the Future

In Proverbs and Ecclesiastes Solomon lays out God's Four Foundations of Financial Freedom. The second one is found in Proverbs 21:20, "The wise man saves for the future, but the foolish man spends whatever he gets." 

Solomon, the wisest and wealthiest man of his time, says here: You want to be in debt? Make it a habit to live paycheck to paycheck. When money comes in just spend all of it, not saving anything - and you’ll be in debt in no time at all. Why is this the case? Why does NOT saving lead to debt? Because if we don’t save when things are good, we’ll never be ready for when things go bad. We all know that the car is going to need a repair, the AC unit is going to break, and the baby bill is going to be $1,000 or more.

When times are good we need to be saving for the things we know we’re going to need in the future. If we don’t, we’ll end up in debt because when the AC unit breaks, we won’t have the money to replace it, so we’ll have to put it on the credit card or take a loan out from the bank. And that’s a problem because then you’ll pay crazy amounts of interest, which means you’ll pay more for the item than it’s worth, which will only exacerbate your debt dilemma.

So Solomon says: Don’t be foolish! Save for the future. In another verse, Proverbs 6:6-8 Solomon says, “Take a lesson from the ants, you lazybones. Learn from their ways and become wise! Though they have no prince or governor or ruler to make them work, they labor hard all summer, gathering food for the winter.” What would happen if the ant didn’t prepare for the winter he knew was coming? He or she would be in trouble, right? That would spell disaster for the ant, right? Well, in the same way, if we don’t prepare financially for expenses we know are coming, we’re going to be in trouble. To not save is to invite financial disaster. It’s how you will most certainly end up in debt. Solomon’s saying: Even an ant with such a tiny brain realizes the need to save - how much more so should we!!!

Why don't we save? Well, we have a heart issue. Our culture calls it “keeping up with the Joneses”. The Bible calls it “envy”. We look around on Facebook and Instagram and see what other people have and we think, “I want that!” so we go after it and try to get it too. We spend every bit of what we could be saving to keep up with our friends and neighbors and co-workers. This is what some call “The Envy Monster”. The envy monster stalks everywhere, never satisfied, always craving more of what other people have. In malls, neighborhoods, schools and offices people compare themselves with others and invariably fall short. But can I tell you the truth about the people you’re envying? They are in more debt than you! The “Joneses” are on the verge of declaring bankruptcy! We’ve got to stop envying others if we’re ever going to start saving.

Listen to me - the more you have the more it costs. Envying others and then trying to get what they have will always lead you closer to debt (or deeper into debt) because the more you have the more it costs. The more you have the more it costs in insurance. The more it costs to maintain it. The more it costs of your time to use it and care for it. So stop envying “the Joneses”. If anything, you should pity them, for God says they’re fools for not saving.

Did you know God measures how wise we are in part by how much we save? The verse we read earlier said “The wise man saves for the future.” So in God’s eyes, how wise are we? The statistics show that we need to grow and make some drastic changes in this area. I read this week that…

• The average family in Japan saves about 20% of their income. 
• The average family in Europe saves about 18% of their income. 
• In America the average family saves nothing. 

In fact, 55% are living paycheck to paycheck. One third don’t even have a savings account. And the average American household is now spending 136% of their household income. That is, for every dollar they make, the average American spends $1.36. This is why the average balance on peoples credit cards is almost $15,000 (and rising).

We’ve got to make the decision today to be wise by God’s standards. Culture says “Spend it. You deserve it!” God says “Save it! If you can’t afford it don’t buy it!” Who are you going to listen to? Culture or God? If you’ve been doing it culture’s way and you’re in a financial mess, maybe today is the day to start doing your finances God’s way. Just a thought.

Plan Your Spending

In Proverbs & Ecclesiastes Solomon lays out God's Four Foundations of Financial Freedom. The first one is found in Proverbs 21:5, which says "Good planning and hard work lead to prosperity, but hasty shortcuts lead to poverty."

Solomon, one of the wisest and wealthiest men to ever have lived, says here that financial planning = prosperity. Not planning = poverty. If Solomon lived today he might say: Financial planning helps you to stay in the black. If you don’t plan you will surely find yourself in the red.

What Solomon called planning, we (today) call budgeting. I know some of you think budget is a curse word - I assure you it’s not. A budget by definition is planned spending. And the purpose of a budget is to tell your money where to go so you don’t have to wonder where it went. Some say “money talks”. No it doesn’t! It just walks away quietly. But a budget will prevent this from happening.

Now from the Bible we learn three areas we need to budget for.

1. We need to budget our giving: When we get paid we need to budget the first 10% for God. The Bible calls this the tithe and we’ll talk about it more later in the message. 
2. We need to budget our savings: After you pay God, you need to pay yourself. How much? Experts in the field recommend 10%. So you give God 10%, then you save 10%. 
3. We need to budget our spending: After you pay God and pay yourself, you use the rest wisely - being a good steward of however much God has entrusted you with. 

Solomon says: If you plan (or budget) your money this way, it will lead to prosperity, not poverty.

If you don’t have a budget, you’re either already in debt or are headed there. Here’s why: Our yearnings will always exceed our earnings. And without a budget we’ll say “yes” too often, which in time leads to debt. The value of a budget is that it informs us when to say “yes” and when to say “no”. For example…

• When considering how much to spend when purchasing a home you ask yourself: After budgeting 10% for God and 10% for savings, can I afford this home? Your budget will tell you “yes” or “no”. 
• Or when considering how much to spend when purchasing a car you ask yourself: After budgeting 10% for God and 10% for savings, can I afford this car? Your budget will tell you “yes” or “no”.
• You might want the latest and greatest iPhone 5s for $400, but your budget might inform you that you need to get the iPhone 5c, which only costs $50 at Target right now. 
• You might see something at the mall that you want and be tempted to make an impulse purchase - but budgeting will help curb impulse purchases. Impulse buying is based on emotion, not what you have in the bank. A budget protects us from this. When your emotions say “I want it and have to have it right now!” your budget can calmly state “No. You can’t afford it. Don’t buy it.” 

Now even though we all ought to be using a budget, most of us don’t because we don’t like anyone or anything telling us “no”. We live in a culture that says “You deserve it - even if you can’t afford it.” And it’s because of this unbiblical mentality that as individuals and a nation we are steeped in debt. But each of us has to decide: Will we live by what culture says or by what God says? God tells us, through Solomon, that good planning (budgeting) leads to prosperity, while failing to budget leads to debt.