Does your wallet – or perhaps your bank account – have holes in it? Some days it may feel like we are doing well financially and the bank account is building up. Yet, other times, we are left scratching our heads and wondering where all that hard-earned money has gone. Frustratingly, even if we have the intention of saving, this doesn’t always eventuate in to reality. Various expenses, both expected and unexpected, keep cropping up and can hinder our ability to reach our savings’ goals. This is a problem for young and old alike. For many, not having enough money in the bank is more than just a mathematical problem. A lack of savings can cause anxiety, stress, depression, strained relationships, and insomnia.

Thankfully, God’s word has much practical wisdom to share on the topic of money.

Before discussing the sound Biblical principles for saving, it is important to preface this article with an important point. While God wants us to be prudent with our money, He also doesn’t want money to become an idol. We can become so fixated on earning money and becoming wealthy, that we actually take our mind off God and don’t prioritise Him with our time and effort. And God’s word tells us we can’t do both: “No one can serve two masters; for either he will hate the one and love the other, or else he will be loyal to the one and despise the other. You cannot serve God and mammon [wealth]” (Matthew 6:24). God’s word is clear on where our priorities need to be; “Do not lay up for yourselves treasures on earth, where moth and rust destroy and where thieves break in and steal; but lay up for yourselves treasures in heaven, where neither moth nor rust destroys and where thieves do not break in and steal” (Matthew 6:19-20). And in Matthew 19, Jesus Christ counselled the rich young ruler to sell his goods and give to the poor so he could have treasure in heaven (Matthew 19:16-22).

So, while money is not to become our focus over God, there is still much God has to say about being prudent with our money. Here are four steps to help you learn to be wise with your money:

1. Tithe

God promises He will take care of our needs over and above what we ask if we faithfully tithe. “Bring all the tithes into the storehouse, that there may be food in My house, and try Me now in this, says the Lord of hosts, if I will not open for you the windows of heaven and pour out for you such blessing that there will not be room enough to receive it” (Malachi 3:10). Have you taken God up on this promise yet and put His Word to the test?

2. Plan for your future by setting goals

In Genesis 41, God revealed to Joseph that Egypt was going to experience an extreme famine. This section of Scripture admonishes us to save up what we can for both expected and unexpected situations. Joseph knew the seven years of plenty would be followed by seven years of famine, so he took measures to ensure there would be enough grain, not only for Egypt, but for surrounding nations as well. Therefore, we should examine whether a particular occupation we are pursuing is going to bring a sustainable amount of income that we need.

3. Budget

Creating a breakdown of your income and expenses in either a handwritten or digital spreadsheet can be a very useful tool. Depending on how you set it up, your budget can give you an overall financial picture of your year ahead, but also month-to-month or even week-to-week. After drawing up the budget, you may realise you either need to earn extra money to cover expenses, or cut back on unnecessary spending. There are apps that are very helpful for this.

4. Practice gratitude

We live in a world of covetousness and materialism. It can be easy to get sucked into the advertising we see around us and buy things we don’t really need. A remedy for that is to be happy and content with what we have. “Let your conduct be without covetousness; be content with such things as you have. For He Himself has said, “I will never leave you nor forsake you” (Hebrews 13:5). When was the last time you wholeheartedly thanked God for what you currently have?

We all need money to function in this world and there are many verses in the Bible that encourage saving, investing, and budgeting. Let’s do these things, be prudent with our money and be grateful for what we have, while never forgetting to seek first God’s kingdom (Matthew 6:33), to put Him first in our lives, and ultimately lay up our treasure in heaven (Luke 12:33-34).