This week we continued in our financial stewardship series, "Matters of Money." This week we looked at Wesley's second use of money: save all you can. If you tend to earn all you can in order to spend all you can, then this message is for you. May it be a blessing to you and may you experience the fullness of God's abundance.
“Penny Pinching”
Brimfield Faith UMC / November 7, 2010
Proverbs 21:5, 20
SAVE ALL YOU CAN
Last week, we started a sermon series called, “Matters of Money,” based on a sermon Wesley preached in 1760 called, “The Use of Money.” In it he says, “Earn all you can. Save all you can. Give all you can.” Last week, we talked about the call to earn all we can and we learned that we are called to submit our earning potential to the Lord. While the message to earn all we can comes with certain guidelines and parameters, God does indeed want to bless us with financial prosperity. That prosperity is not for our own benefit but rather for the benefit of the kingdom of God. Therefore, we need to hear the next two messages of Wesley if we are going to use money the way God intends.
This morning, we are going to look at the encouragement to save all that we can. If you were to ask an elementary school child to define savings for you and you might be surprised at the answer you get. Many of them will answer you with, “Saving is the amount you get off the regular price of an item you buy.” While that is an accurate definition of savings, it used to mean the money that we saved and put in the bank. Before you shake your heads in disbelief at the children, realize that this is what we have modeled to them. Many adults use to save money and put it in the bank.
Now many of us, not only don’t save any money, we spend next week’s and next year’s paychecks before we get them. In fact, in 2008, 43% of American families spent more than they earned. Average credit card debt in America is currently around $9000. That means there is nothing left at the end of the month. The reality is that many people earn all they can so they can spend all they can. Essentially, they hear the first part of Wesley’s message and say, “I like that,” and off they go. They fail to learn about God’s the other uses of money. In fact, we better pray for the people that were in worship last week and not this week! The reality is that many us of live our lives as if we have only heard the message to earn all you can.
We get caught in the trap of trying to buy our happiness. If we want to discover the abundant life God promises us, we need to hear God’s entire message on finances. The second part of that message is conveyed in Proverbs 21:20, “Precious treasure remains in the house of the wise, but the fool devours it.” In other words, it is wise to save your wealth. It is foolish to earn all you can and then go out and spend all you can. By this definition, many of us fall into the fool category at times. We get that tax refund check or Christmas bonus and our first impulse is to go out and spend it. After all, there are things I’ve been wanting and I deserve that new 50” plasma screen TV. Now I’m not suggesting that we don’t spend any of our money, but there are certainly limitations to how much we spend and what we spend it on. How do we learn to overcome these impulses to spend? How do we learn to save all that we can and still be satisfied?
WAYS TO SAVE
#1. Develop contentment in your heart.
If we are going to successfully submit these to the Lord, we need to realize that our problems run deeper than outward behaviors. We can receive credit counseling, learn how to budget, and work to create margin in our lives. We need to learn to view the world and money through the eyes of God and the Scriptures. We must completely submit our finances to the Lord.
Therefore, we begin saving all we can by changing our hearts. In Luke 12:15 Jesus says, “Take care! Be on your guard against all kinds of greed; for one’s life does not consist in the abundance of possessions.” In order to develop contentment, you must confess the sinfulness of your heart. You must acknowledge the greed that continually creeps in. Greed has a way of eroding your soul. Two practical ways to develop contentment.
#1 – Avoid temptation. Don’t read the Sunday ads every week. They are designed to exploit your weaknesses. Advertisers are the ones teaching you that savings is the amount off of the retail price. We are already bombarded with advertisement incessantly so don’t invite more assaults than necessary.
#2 – Develop a grateful heart. In 1 Thessalonians 5:18 Paul encourages us to “give thanks in all circumstances.” When we learn to appreciate what we have and the blessings of life, we will be more content. We will appreciate life and not just the stuff of life more.
As we focus on the heart condition there are some other practical ways to steer our heart in the right direction and to save all the money we can.
#2. Create a budget.
The first is to create a budget. Jesus teaches in Luke 12:34, that “where your treasure is, there your heart will be also.” By creating a budget, you can learn and control where your money and heart is going. It is a great way to track your spending, reduce unnecessary expenditures, and increase savings.
As you make a budget, you want to create margin at the end of the month. A good first step to doing that is distinguishing between wants and needs. We often get the two confused. We think we need a new TV or a meal at a nice restaurant. The reality is that those are often wants. It isn’t wrong to buy things that are wants but we must do purchase wants wisely. In 1 Timothy 2, Paul encourages us not to by extravagantly. The discipline of buying reasonably and budgeting will help you save more money and create margin at the end of the day. One of the pieces of advice that I personally try to live out is to give 10%, save 10% and live on the rest. In order to do this, it requires discipline and commitment, but it results in contentment.
#3. Set Savings Goals.
Finally, it is helpful to have goals to motivate us towards saving. I would encourage you to write down your goals and keep them visible. This will help you as you seek to develop a heart of contentment and to live within your budget. Proverbs 21:5 teaches us that, “The plans of the diligent lead surely to abundance, but everyone who is hasty comes only to want.” You have to plan if you want to succeed in saving all you can. I want to share a few basic goals that can help you to stabilize your finances.
#1. Emergency fund of $1000. This frees you from having to use your credit card for every small or big emergency. You don’t panic when the car breaks down, or the kids have to go to the doctor or something else. This creates a cushion for you to respond instead of react to unforeseen expenses.
#2. Get out of Debt. The average American is in $9000 in credit card debt. If we are carrying credit card debt, this is a sign that we are spending more than we earn. If we want to pursue Wesley’s advice to save then we must get out of debt. Proverbs 22:7 states, “The rich rules over the poor, and the borrower is the slave of the lender.” If you are in debt, I would encourage you to work a plan to eliminate that debt. There are great resources out there that I would encourage you to use. They are listed on your DIG Guide and I would encourage you to come and talk to me about it if you have further questions along these lines.
#3. Save 3 – 9 months of living expenses. In an environment of unemployment and uncertainty, this is so important. Depending on your lifestyle and current living expenses, this number will be different for everyone. When we have this money saved, I think we are freed up to be able to give generously and live out of a God-given abundance.
#4. Major expenses: cars, retirement, college, etc… Dave Ramsey, financial guru, would suggest that you pay cash for major purchases like cars. This larger goals may seem unattainable but when we’ve met these other goals, they are important. We must plan wisely if we want to live our days out of God’s abundance.
HOARDING
While saving is important, we must remember that we must submit our savings to the Lord. We don’t save to save. Instead, there should always a purpose for our savings. In Luke 12, Jesus tells a parable of a farmer who has a tremendous crop and has decided to save all of it for himself. The night he settles to build huge store houses to keep the crop, his life is called into account. The farmer seems to have followed Wesley’s first two pieces of advice to earn and save all that he could. The problem is that the farmer didn’t understand the purpose for which he was earning and saving. The farmer failed to recognize that he was being blessed to be a blessing. He was prospering so that he could invest in the kingdom of God and to store up treasures in heaven.
There is a show on TV right now called, “Hoarders.” [PICTURE] Anyone watched it? It is a reality, intervention show about people who have taken the exhortation to save all they can to the extreme. Saving stuff has become an idol and an obsession for them. Other people are shopaholics. If we don’t submit our finances to God, money will become our master. It is amazing how many different ways it can control us.
If you are controlled in some way by your finances, I would encourage you to listen to God’s heart on the issues. Our lives can be transformed when the Holy Spirit internalizes this message. We must hear the entire message: Earn all you can. Save all you can. Give all you can. Next week, we’ll look at how we can cultivate a heart of generosity. My hope is that you will live free and be guided by God in your finances and your entire life.
Brimfield Faith UMC / November 7, 2010
Proverbs 21:5, 20
SAVE ALL YOU CAN
Last week, we started a sermon series called, “Matters of Money,” based on a sermon Wesley preached in 1760 called, “The Use of Money.” In it he says, “Earn all you can. Save all you can. Give all you can.” Last week, we talked about the call to earn all we can and we learned that we are called to submit our earning potential to the Lord. While the message to earn all we can comes with certain guidelines and parameters, God does indeed want to bless us with financial prosperity. That prosperity is not for our own benefit but rather for the benefit of the kingdom of God. Therefore, we need to hear the next two messages of Wesley if we are going to use money the way God intends.
This morning, we are going to look at the encouragement to save all that we can. If you were to ask an elementary school child to define savings for you and you might be surprised at the answer you get. Many of them will answer you with, “Saving is the amount you get off the regular price of an item you buy.” While that is an accurate definition of savings, it used to mean the money that we saved and put in the bank. Before you shake your heads in disbelief at the children, realize that this is what we have modeled to them. Many adults use to save money and put it in the bank.
Now many of us, not only don’t save any money, we spend next week’s and next year’s paychecks before we get them. In fact, in 2008, 43% of American families spent more than they earned. Average credit card debt in America is currently around $9000. That means there is nothing left at the end of the month. The reality is that many people earn all they can so they can spend all they can. Essentially, they hear the first part of Wesley’s message and say, “I like that,” and off they go. They fail to learn about God’s the other uses of money. In fact, we better pray for the people that were in worship last week and not this week! The reality is that many us of live our lives as if we have only heard the message to earn all you can.
We get caught in the trap of trying to buy our happiness. If we want to discover the abundant life God promises us, we need to hear God’s entire message on finances. The second part of that message is conveyed in Proverbs 21:20, “Precious treasure remains in the house of the wise, but the fool devours it.” In other words, it is wise to save your wealth. It is foolish to earn all you can and then go out and spend all you can. By this definition, many of us fall into the fool category at times. We get that tax refund check or Christmas bonus and our first impulse is to go out and spend it. After all, there are things I’ve been wanting and I deserve that new 50” plasma screen TV. Now I’m not suggesting that we don’t spend any of our money, but there are certainly limitations to how much we spend and what we spend it on. How do we learn to overcome these impulses to spend? How do we learn to save all that we can and still be satisfied?
WAYS TO SAVE
#1. Develop contentment in your heart.
If we are going to successfully submit these to the Lord, we need to realize that our problems run deeper than outward behaviors. We can receive credit counseling, learn how to budget, and work to create margin in our lives. We need to learn to view the world and money through the eyes of God and the Scriptures. We must completely submit our finances to the Lord.
Therefore, we begin saving all we can by changing our hearts. In Luke 12:15 Jesus says, “Take care! Be on your guard against all kinds of greed; for one’s life does not consist in the abundance of possessions.” In order to develop contentment, you must confess the sinfulness of your heart. You must acknowledge the greed that continually creeps in. Greed has a way of eroding your soul. Two practical ways to develop contentment.
#1 – Avoid temptation. Don’t read the Sunday ads every week. They are designed to exploit your weaknesses. Advertisers are the ones teaching you that savings is the amount off of the retail price. We are already bombarded with advertisement incessantly so don’t invite more assaults than necessary.
#2 – Develop a grateful heart. In 1 Thessalonians 5:18 Paul encourages us to “give thanks in all circumstances.” When we learn to appreciate what we have and the blessings of life, we will be more content. We will appreciate life and not just the stuff of life more.
As we focus on the heart condition there are some other practical ways to steer our heart in the right direction and to save all the money we can.
#2. Create a budget.
The first is to create a budget. Jesus teaches in Luke 12:34, that “where your treasure is, there your heart will be also.” By creating a budget, you can learn and control where your money and heart is going. It is a great way to track your spending, reduce unnecessary expenditures, and increase savings.
As you make a budget, you want to create margin at the end of the month. A good first step to doing that is distinguishing between wants and needs. We often get the two confused. We think we need a new TV or a meal at a nice restaurant. The reality is that those are often wants. It isn’t wrong to buy things that are wants but we must do purchase wants wisely. In 1 Timothy 2, Paul encourages us not to by extravagantly. The discipline of buying reasonably and budgeting will help you save more money and create margin at the end of the day. One of the pieces of advice that I personally try to live out is to give 10%, save 10% and live on the rest. In order to do this, it requires discipline and commitment, but it results in contentment.
#3. Set Savings Goals.
Finally, it is helpful to have goals to motivate us towards saving. I would encourage you to write down your goals and keep them visible. This will help you as you seek to develop a heart of contentment and to live within your budget. Proverbs 21:5 teaches us that, “The plans of the diligent lead surely to abundance, but everyone who is hasty comes only to want.” You have to plan if you want to succeed in saving all you can. I want to share a few basic goals that can help you to stabilize your finances.
#1. Emergency fund of $1000. This frees you from having to use your credit card for every small or big emergency. You don’t panic when the car breaks down, or the kids have to go to the doctor or something else. This creates a cushion for you to respond instead of react to unforeseen expenses.
#2. Get out of Debt. The average American is in $9000 in credit card debt. If we are carrying credit card debt, this is a sign that we are spending more than we earn. If we want to pursue Wesley’s advice to save then we must get out of debt. Proverbs 22:7 states, “The rich rules over the poor, and the borrower is the slave of the lender.” If you are in debt, I would encourage you to work a plan to eliminate that debt. There are great resources out there that I would encourage you to use. They are listed on your DIG Guide and I would encourage you to come and talk to me about it if you have further questions along these lines.
#3. Save 3 – 9 months of living expenses. In an environment of unemployment and uncertainty, this is so important. Depending on your lifestyle and current living expenses, this number will be different for everyone. When we have this money saved, I think we are freed up to be able to give generously and live out of a God-given abundance.
#4. Major expenses: cars, retirement, college, etc… Dave Ramsey, financial guru, would suggest that you pay cash for major purchases like cars. This larger goals may seem unattainable but when we’ve met these other goals, they are important. We must plan wisely if we want to live our days out of God’s abundance.
HOARDING
While saving is important, we must remember that we must submit our savings to the Lord. We don’t save to save. Instead, there should always a purpose for our savings. In Luke 12, Jesus tells a parable of a farmer who has a tremendous crop and has decided to save all of it for himself. The night he settles to build huge store houses to keep the crop, his life is called into account. The farmer seems to have followed Wesley’s first two pieces of advice to earn and save all that he could. The problem is that the farmer didn’t understand the purpose for which he was earning and saving. The farmer failed to recognize that he was being blessed to be a blessing. He was prospering so that he could invest in the kingdom of God and to store up treasures in heaven.
There is a show on TV right now called, “Hoarders.” [PICTURE] Anyone watched it? It is a reality, intervention show about people who have taken the exhortation to save all they can to the extreme. Saving stuff has become an idol and an obsession for them. Other people are shopaholics. If we don’t submit our finances to God, money will become our master. It is amazing how many different ways it can control us.
If you are controlled in some way by your finances, I would encourage you to listen to God’s heart on the issues. Our lives can be transformed when the Holy Spirit internalizes this message. We must hear the entire message: Earn all you can. Save all you can. Give all you can. Next week, we’ll look at how we can cultivate a heart of generosity. My hope is that you will live free and be guided by God in your finances and your entire life.
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