Scott LaPierre Ministries

Scott LaPierre Ministries

What Does the Bible Say About Saving Money? (Proverbs 13:22)

March 14, 2022

What does the Bible say about saving money? Does God want us to save money? Read on (or listen) to find out!

Table of ContentsWe Develop the Habit of Spending or Saving MoneyThe Bible’s View of Saving MoneyAvoiding Financial RegretsSaving Money the Right WayTaking Advantage of Time and InterestContrast Peter and PaulAccumulating Money Wrong WaysAvoid Gaining Money CorruptlyAvoid Gaining Money QuicklyWhat about Gambling?Is the Stock Market Gambling?Teach Your Children to SaveHelped by God

After health- and fitness-related New Year’s resolutions, such as exercising more, going on a diet, and losing weight, the second-most-common resolutions are financial. This would be good news, except that only 64 percent of New Year’s resolutions last longer than the first month, and only 46 percent last longer than six months. Changing is hard! As a pastor, I’ve heard many people say, “I’m going to stop this,” or “I’m going to start that,” but then nothing changes. We get into the habit of doing things one way and it’s difficult to do things differently. This is why the Bible warns us about losing good habits and developing bad ones:

“Do not be deceived: ‘Evil company corrupts good habits’” (1 Corinthians 15:33).“They get into the habit of being idle and going about from house to house” (1 Timothy 5:13 NIV).”“Not neglecting to meet together, as is the habit of some, but encouraging one another, and all the more as you see the Day drawing near” (Hebrews 10:25).

In chapters 11 and 13, we discussed avoiding going to the movies, eating out, or buying high-end coffee because all these purchases add up. The other risk is these activities become habit-forming.

We Develop the Habit of Spending or Saving Money

Notice the word or in the subhead above. We can’t develop the habit of spending and saving money. They are mutually exclusive. Think of a plane trying to fly in two different directions. I’ve spoken with people who habitually spend money and defend their actions by talking about how much they have saved. They still develop the habit of spending money, but they’ve found a way to justify it.

For some people, spending money moves from a habit to an addiction. Consider these testimonies. Although women are in view, men can have similar problems:

Michelle feared the day her husband might discover her secret stash of credit cards, her secret post office box or the other tricks she used to hide how much money she spent shopping for herself. She said, “I make as much money as my husband and if I want a $500 suit from Ann Taylor, I deserve it and do not want to be hassled about it. So the easiest thing to do is lie.” Last year, when her husband forced her to destroy one of her credit cards, she went out and got a new one without telling him. She also said, “I do live in fear. If he discovers this new Visa, he’ll kill me.“Men just don’t understand that shopping is our drug of choice,” even while admitting that some months her entire salary goes to paying the minimum balance on her credit cards. She added, “Walking through the door of South Coast Plaza is like walking through the gates of heaven. God made car trunks for women to hide shopping bags in.“Shopping is my recreation. It is my way of pampering myself. When you walk into [a mall] and you see all the stores, it is like something takes over and you get caught up in it.”

Three in five women admit to hiding purchases from their husband. These women are slaves to spending money, and as I said a moment ago, men have this problem too.

The good news is all of us can change. Even if you’re the biggest spender, you can develop the habit of saving money. The same fervor you had for spending, can be turned into a fervor for saving. You can become as excited about maxing your retirement account as you used to be about buying things. You can reach the point that you view every purchase as money you are unable to save. To put it simply: As much as spending used to be your habit,...