Successful Money Management for Christians Lesson Nine
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Successful Money Management for Christians Lesson
Nine “Saving
For The Future” “Do
not lay up for yourselves treasures on earth……but lay up for
yourselves treasures in heaven….”
(Matthew 6:19-20) Does
the above admonition by the Lord mean that we cannot have money in the
bank (or stashed under our mattress)? Is He condemning saving
anything, and that all must be used or given away each week? Is He
saying it is wrong to provide for our future years? Would it be wrong
for me to participate in such programs as Social Security, Pension
Plan at work, or do my own investing? The answer is obviously
“NO!” This is a special
expression that de-emphasizes the first in order to strongly emphasize
the second part. Laying up treasures on earth is not sinful nor wrong,
but rather is a necessity! Good Stewardship demands proper use of
possessions (1 Corinthians 4:2). The sluggard is told to
observe the Ant and learn the need of storing up (Proverbs 6:6-9). In
this expression, the Lord is dealing with a common problem that
mankind has— the
wrong attitude about money…… to trust in it, rather than in God
(Proverbs 28:26; But
not saving can be a sin when it involves not taking care of our own
family or even ourselves (1 Timothy 5:8; Galatians 6:5; 2
Thessalonians 3:5-15). The philosophy, “Don’t worry, the Federal
Government will take care of me,” is not a correct approach to
financial responsibility! We not only believe that Saving for the
future is right and a necessity, but is wise stewardship! Thus, the
purpose of this lesson is not only to encourage each one to save for
the future, but to envision what is possible and begin immediately to
learn how to also invest wisely to save. WHY
PEOPLE FAIL TO SAVE It
is possible that some people may have been misguided about saving for
the future through a misunderstanding of the teaching of
Scripture. We hope not! But we really feel that there are other
basic reasons why people do not save. 1.
Many
do not think they make enough money to live on and save also.
Part of the problem here may be, “I want it now, to enjoy the good
things now” philosophy. A
choice has to be made some times between: “No pain, no gain,”
“Pain now, or pain later,” “Live high now and live low later.”
Everyone can save! It is
just a matter of what you want to cut back
2.
Many
do not think they have the time to learn how to properly invest.
There is no question about it, saving requires not only discipline,
but knowledge of how to wisely invest for the future. But it should be
obvious that a person really cannot afford not to learn how to save
and invest. So many people have so little saved for the retiring years
that their predicament should be an incentive to us to get busy as
soon as possible. And of course, if we do not make decisions well, it
could break us financially, physically, and possibly even spiritually.
And we need to keep remembering the parable of the “one-talent
man” who was fearful and did nothing, and the Lord called him a
wicked and slothful servant (Matthew 25:26, 30).
3.
Many
do not know where to go to learn how to wisely invest their money.
This may have been more true in the past, but things are changing
rapidly in this area of who to turn to for help. Employers are more
and more providing help for their employees. There are more and more
Financial Advisors whose business it is to give you that over-all help
in managing your money well. Insurance agents are being trained to do
much of what the Financial Advisors are doing. Stock Brokers, Bank
Trust officers, as well as good publications coming out now are all
very helpful. But it will take effort to learn, listen, and make wise
choices. We need to be sure that we do not spend all we make now or go
into unwise debt that keeps us from being able to save in the first
place. There
are two primary mistakes that everyone must avoid at all costs: (1) A
failure to plan to save, and (2) Procrastination! Either of these can
lead to disaster financially for one’s future. WHY
SAVE? There
should be sufficient legitimate reasons for saving money!
Non-legitimate reasons such as Greed, Covetousness, Love of money,
Trusting in riches must be dealt with in everyone’s life. There are
several valid reasons for saving, such as: (1)
An
emergency fund.
There are all kinds of things that can happen that will require quick
money to take care of….even the losing of one’s job! Some suggest
that a special fund needs to be established in the amount equal to
one’s present 3-6 months’ salary. (2)
Short-term
goals.
A vacation, new furniture, washer-dryer, etc.---items that would be
easily paid off in a short time. It is best to save up for these
rather than financing them. Have a fund set up to pay cash for all of
these items. (3)
Long-term
goals.
These items will take longer to pay off if you finance them. If you
pay cash, you need to have special plans made to be sure you have the
money when the time comes. Such items as: down payment on a house,
college tuition, retirement funds, etc. This money can be invested to
draw the best return on your money because of longer period of time
involved. At
any time that you need money, then, borrow from yourself, and be sure
to pay yourself back (with interest?). TOOLS
FOR SAVING There
is a wide variety of tools for saving money. And they each may have
their own special reason for being used. They are: Savings Accounts at
Banks or Credit Unions; Certificates of Deposit; Money Market Fund;
Bond Market; Treasury Bills Market; Stocks; Mutual Funds; Annuities
with Insurance companies; and Real Estate. Some of these are what are
called “Risk free” (But have a lower return on investment). Others
are referred to as “High risk” (Able to make more money, but some
risk). In some instances a “High risk” investment may cause you to
lose money. “Diversification” is a term used to indicate that the
risks are cut down but the returns would not be as good as some
“High risk” investments. Decisions are called for, but decisions
must be made if we will be prepared for the future. Regular
saving establishes a good habit, shows discipline, will give much
satisfaction now and in the future, will give a sense of
accomplishment, and we will be good stewards of what God has intrusted
to us. Homework
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