Joseph saved during “seven years of great abundance” (Genesis 41:29) in order to survive during “seven years of famine” (Genesis 41:30). That’s what savings is all about: not spending today so that you will have something to spend in the future. Most people are poor savers because they don’t see the value in practicing self-denial. Our culture screams that we deserve to get what we want, when we want it—and usually that’s right now!
The most effective way to save is to make it automatic. When you receive income, the first thing you should do with the money should be a gift to the Lord, and the second should go to savings. An automatic payroll deduction is even a better way to save. Some people save their tax refunds or bonuses. Remember this: if you immediately save, you’ll save more.
The Bible doesn’t teach an amount to be saved. We recommend saving ten percent of your income. This may not be possible initially. But begin the habit of saving-even if it’s only a dollar a month.Copyright (c) 2011 by Compass-finances God’s way TM. All rights reserved.
There has been an explosion in the number of credit cards for only one reason: the credit card companies make a ton of money charging high interest! They also know that people spend about one-third more when they use credit cards rather than cash. The average household with an unpaid balance has about $10,000 in credit card debt.
Ever wonder if wealthy people manage their money differently than the rest of us? That maybe they have ideas and strategies to protect and build their assets that we could all do if only we knew what they were hiding? Well, it turns out the money-management techniques of the rich aren’t so secret after all, and just about everyone can take advantage of them. Today on MoneyWise Rob West and Steve Moore spill the beans. Next, they answer your questions at (800) 525-7000 and firstname.lastname@example.org about the following:
-I’m a recent widow, 70 years old and in good health. Is there wisdom in me looking for long-term health insurance?
-I’m going to be retiring in a few years and will move south at that point. I have a couple of properties that I own outright. Would it be better to sell those and invest the money when we move?
-We’ve had auto insurance with the same company for a long time. Would we get a better deal if we considered moving to a different company?
Be sure to check out our new website at moneywise.org to connect with a MoneyWise Coach or access our books, videos, or any of our free helpful resources. You can also find us on Facebook. Thanks for your prayerful and financial support that helps keep MoneyWise on the air. And if you'd like to help, just go to the website and click the Donate tab at the top of the page.All Sermons by Rob West & Steve Moore