I can’t express enough the importance of having an active savings account. Having one or more savings accounts is one of the best places where you can keep money for later use, separate from funds used for day-to-day expenses. Today I want to share with you three reasons to save money for a later date.
The number one reason we want to save money is for emergencies. The sad reality is that many Christians live paycheck to paycheck. They rarely, if ever, consider the unexpected expenses that arise from time to time. The Bible says it this way in Proverbs 27:12, “The prudent see the danger and take refuge, but the simple go on and pay the price.” In other words, wise Christians know that sooner or later something will break down or need to be replaced. In anticipation of these types of problems, they dedicate a portion of each paycheck to an emergency savings account. This way they are prepared in case of any unexpected financial emergency.
The second reason we want to save money is for future purchases and events. We all know that Christmas, birthdays, anniversaries, holidays and a host of other events are always on our yearly calendar. Therefore, it is imperative that we prepare for these kinds of expenses in advance. I love how Proverbs 22:7 explains it: “The rich rules over the poor, and the borrower is slave to the lender.” In other words, having something planned in your budget for these kinds of purchases and upcoming events will keep us from becoming slaves to a mountain of debt.
The third reason we want to save money is for funerals and final expenses. If Jesus delays his second coming, we will all face the portal of death. Ecclesiastes 9:12a clearly states, “Furthermore, no man knows when his hour will come…” Once you pass from this life to the next, someone will have to take care of your funeral and other final expenses. Do you have a financial strategy in place to manage these expenses? Will your family be financially stable without your income? Wise Christians always plan their funerals and final expenses.
Yes, having one or more savings accounts is a good way to keep money that has been set aside for later use. This subsequent use may include, but is not limited to, emergencies, future purchases and events, even funerals and other final expenses. I leave you with a word of warning found in Proverbs 21:20, “The wise have wealth and luxury, but the foolish spend all they get.”