What Does The Bible Say About Saving Money – 4 Important Lessons

It’s not uncommon to find Christians who believe that saving money means that you lack faith. When you read verses like those in Luke 12 about the rich fool who stored away all his crops for himself, you can understand why some believers may feel as though Jesus was teaching not to put away money into savings.

The Bible is loaded with wisdom about how to manage our money. There are literally thousands of Bible verses that mention money. While these verses help to illustrate a larger message about the Kingdom of God, we can take many of the inferences to help us understand exactly how to manage our money. After all, we are commanded to do everything with excellence. Therefore, we should strive to become excellent money managers too!

Being faithful over your money, even if it doesn’t feel like you have very much, shows God that you are trustworthy to manage the resources he has given you. So what does the Bible say about saving money? Will God consider us fools for storing away our money as he did the rich fool in Luke 12?

Here’s the big list of money topics in the Bible, and here is a list of over 100 Bible verses about money.

What Does the Bible Say About Saving Money?

While there is a lot of evidence that God does encourage saving money, it is important first to note that He warns us about putting our hope into our savings. We learn this in 1 Timothy:

Command those who are rich in this present world not to be arrogant nor to put their hope in wealth, which is so uncertain, but to put their hope in God, who richly provides us with everything for our enjoyment.
1 Timothy 6:17

At the same time, God is very clear that it is very wise to work hard and plan ahead for the future. There are several references where the Bible expresses that those who only live for today are considered foolish. One such verse is Proverbs 13:16 which says, “A wise man thinks ahead; a fool doesn’t, and even brags about it!”

An amazing example of this is when Joseph, while he was in charge of the land of Egypt, collected food from the crops during the “plentiful years” so that they would have food during the “years of famine.” See Genesis 41.

In his book, Your Finances God’s Way, Scott LaPierre says, “What is saving if not gathering up or storing up during “plentiful years” that produce abundantly so we’re prepared when lean “years of famine come?”

The reason someone would save money is to use it for a future purchase, whether that purchase is an emergency or a planned expense. So saving can be equated to planning ahead. If you know you have to pay taxes, an insurance premium, or an annual membership it is very wise to set aside money for those expenses so that when the time comes, you don’t have to take out any debt (something the Bible stresses that we should avoid!). This is wise planning.

So let’s take a look at some Bible verses about saving money and planning ahead because these two things go hand in hand.

What does the Bible say about saving money? It teaches that saving money is wise, but shouldn’t be your only goal. In this article, explore 4 important lessons about saving money. — PIN FOR LATER

18 Bible Verses About Saving Money

Genesis 41:47-49 & 53-54
During the seven years of abundance the land produced plentifully. Joseph collected all the food produced in those seven years of abundance in Egypt and stored it in the cities. In each city he put the food grown in the fields surrounding it. Joseph stored up huge quantities of grain, like the sand of the sea; it was so much that he stopped keeping records because it was beyond measure…The seven years of abundance in Egypt came to an end, and the seven years of famine began, just as Joseph had said. There was famine in all the other lands, but in the whole land of Egypt there was food.

Proverbs 6:6-8
Go to the ant, you sluggard; consider its ways and be wise! It has no commander, no overseer or ruler,yet it stores its provisions in summer and gathers its food at harvest.

Proverbs 10:4-5
A slack hand causes poverty, but the hand of the diligent makes rich. He who gathers in summer is a prudent son, but he who sleeps in harvest is a son who brings shame.

Proverbs 13:11
Dishonest money dwindles away, but he who gathers money little by little makes it grow.

Proverbs 13:16
“A wise man thinks ahead; a fool doesn’t, and even brags about it!”

Proverbs 13:22
A good man leaves an inheritance to his children’s children, but the sinner’s wealth is laid up for the righteous.

Proverbs 14:29
He who is impulsive exalts folly

Proverbs 21:5
The plans of the diligent lead to profit as surely as haste leads to poverty.

Proverbs 21:20
The wise store up choice food and olive oil, but fools gulp theirs down.

Proverbs 24:27
Prepare your work outside and make it ready for yourself in the field; afterwards, then, build your house.

Proverbs 27:12
The prudent see danger and take refuge, but the simple keep going and pay the penalty.

Proverbs 27:23
Be diligent to know the state of your flocks, and attend to your herds.

Proverbs 30:24-25
Four things on earth are small, yet they are extremely wise: Ants are creatures of little strength, yet they store up their food in the summer;

Luke 14:28-30
“For which of you, intending to build a tower, does not sit down first and count the cost, whether he has enough to finish it—lest, after he has laid the foundation, and is not able to finish, all who see it begin to mock him, saying ‘This man began to build and was not able to finish’?”

Luke 16:10
He who is faithful in a very little thing is faithful also in much; and he who is unrighteous in a very little thing is unrighteous also in much.

1 Corinthians 16:2
On the first day of every week, each one of you should set aside a sum of money in keeping with your income, saving it up, so that when I come no collections will have to be made.

2 Corinthians 12:14
After all, children should not have to save up for their parents, but parents for their children.

1 Timothy 5:8
But if anyone does not provide for his relatives, and especially for members of his household, he has denied the faith and is worse than an unbeliever.

4 Important Lessons About Saving Money In The Bible

So what lessons can we take from these Bible verses about saving money?

1. Don’t Trust Your Savings More Than God

He who trusts in his riches will fall, but the righteous shall flourish as the green leaf.
Proverbs 11:28

Personally, this is something that I have struggled with! I find comfort knowing that I have an emergency fund and that I have savings set aside in investments and for future purchases. I become anxious when I overspend and don’t stick to our budget.

So, as we will see, the Bible does encourage and promote planning for our future through saving and investing. However, we must be very careful not to make this good thing (saving money) the only thing. When we put our savings goals ahead of our relationships with Christ and simply putting our trust in Him, we fall prey to loving our money.

When you begin trusting our savings account, it’s time to take action and put God back in His rightful spot in your heart.

2. Do Have A Plan

Luke 14:28-30 is the classic example of how the wise plan ahead. It is wise to look ahead and add up all of the expenses you can expect within the next few months and to create a plan for how you will pay for those things. If you don’t already have a budget set up, check out this article on creating a budget based on your values.

Not only do you want to think a few months ahead, but also think through and write down what other kinds of expenses you have coming up within the next year. You can write them down in your calendar, or in your budget spreadsheets.

After you’ve written down expenses coming up within the next year, write down all the goals you’d like to accomplish in the next several years. Do you want to buy a house, a car, or maybe go to college? Start setting aside funds for those things so you can avoid as much debt as possible!

3. Save More Than You Spend

You’ve probably heard this general money tip before – that you should save more than you spend. Proverbs 14:29 sums this up nicely, expressing that we shouldn’t be impulsive. Being wise with how you spend money is what good financial stewards do.

If you are currently living beyond your means, meaning you are spending more than you are saving, it’s time to make a change. Your first goal should be to get out of that paycheck-to-paycheck cycle and then start saving money for an emergency fund. I know that this can be challenging if you have an irregular income, but it’s not impossible. Start by first calculating what you make on average per month and create your spending plan from that.

I also appreciate the message in Proverbs 13:7 which says, “One pretends to be rich, yet has nothing; another pretends to be poor, yet has great wealth.” Don’t waste your life trying to make yourself look wealthy. You might be able to convince some of your friends by buying a fancy car or big house… But in the end, you will have no money. Instead, spend your life living like the poor do and you will have money saved up for sure!

4. Don’t Save Everything For Yourself

Let’s go back and examine Luke 12. If God encourages us to save up for our futures, then why was this one rich man considered foolish for storing up everything he had in his barns? He demonstrated many of the financial principles we find in the Bible like saving, planning, and preparing for his future.

The reason Jesus called the man in this parable a fool was that he ignored the first principle when it comes to all of the resources we have, and that is to put God first. He thought only about himself. He didn’t give a second thought to what God might have him do with the plenty that he had. He didn’t consider a more generous alternative. All he thought about was his own comforts.

When we read that it is wise to save money throughout the Bible, we must remember that God isn’t necessarily telling us to save up so we can live very cushy, comfortable lives. Rather, he wants us to be wise stewards of our money because it has a greater purpose than just lining our wallets.

“Saving is rarely thought of in this way. Our culture teaches us to believe that saving is for our benefit only. We save for our retirement so that we can enjoy a life of leisure and rest. No mention is made that saving isn’t only for taking care of you and your needs but also for taking care of others.” – Christian Stewardship Network

Final Thoughts

In my experience, I’ve noticed that financial problems are rarely about finances; they are heart problems. We can save up as much money as we think we need in order to live financially independent lives, but the reality is that we will never truly be free. I’d like to leave you with this quote from Paul Tripps book, Redeeming Money. He says,

“You don’t just need a good plan for dealing with your financial mess, you need forgiving, rescuing, and transforming grace, just the kind of grace that you already have as a child of God.”

So if you are seeking answers to questions about your finances, go to God with them. Release your worries and stress to him so you can begin to redeem your financial situation for the glory of the one who gave it all to you!

If you’re ready to take the next steps in your own money manager journey to become an excellent steward, grab my FREE Biblical Money Manager Checklist!