“It would be easy to think of saving as a purely selfish activity. That can indeed be the case —we need only read about the rich fool in Luke 12— but it doesn’t have to be. Saving honors God because it rightly values money as a gift that he has given to us (James 1:16–17).”

Most Christians know they should save and invest for retirement or disability. But many find it difficult to adopt a practical theology for managing their money, especially when it comes to saving and investing for a distant and uncertain future.

It’s difficult because there are so many perspectives on this topic. Some promote a life of denial, eschewing any luxuries and savings for the sake of the kingdom. Others suggest budgeting, avoiding debt, and regular saving in order to enjoy greater wealth for giving and spending later in life. In the broader culture, the FIRE (Financial Independence/Retire Early) movement emphasizes extreme frugality and saving to be able to retire before age 40.

With all these seemingly inconsistent and conflicting messages, how can you come up with a personal theology of money that balances biblical orthodoxy with practicality in saving and investing for the future?

Here are seven biblical principles that may help.

1. Saving for Future Needs Is Biblical

Some Christians don’t save for retirement because they believe it’s disobedient (usually quoting Matt. 6:19–20), or they feel guilty about putting money away when others are in such great need. Others believe it isn’t necessary because God will take care of them (Isa. 46:4). And some would like to save but spend everything they make (Prov. 13:18).

You may be surprised to learn that saving is actually encouraged in the Bible. Scripture condones saving for known, anticipated needs in the future (Gen. 41; Prov. 6:6–11; Prov. 21:5; Prov. 21:20).

The Bible teaches that it’s possible to wisely save and invest for the future while also being “rich toward God” by “storing up treasures in heaven” (Luke 12:21; Matt. 6:19–21).

2. Saving Honors God and Serves Others

It would be easy to think of saving as a purely selfish activity. That can indeed be the case—we need only read about the rich fool in Luke 12—but it doesn’t have to be.

Saving honors God because it rightly values money as a gift that he has given to us (James 1:16–17). Instead of unplanned, impulsive, or foolish spending, wise saving demonstrates the importance of stewarding his gifts (Luke 12:47–48).

Proper stewardship will put you in a better position to help with important needs as they arise (Eph. 4:28). You can respond more quickly and perhaps in a more significant way (Prov. 3:27). Saving may also allow you to leave an inheritance, blessing your heirs so they can then be a blessing to others (Prov. 13:22).

3. Procrastination Is a Mistake

We all tend to put things off. But by failing to save early, you forfeit one of the most potent financial forces: tax-free compound interest, or earning interest on interest.

Most people don’t postpone saving because they think saving is unimportant. Instead, they expect to have more disposable income down the road, or they have more pressing needs that get in the way, including debt payments, low wages, health-care expenses, or the need to save for a child’s education. They plan to get to it later on.

But even if things do change down the road, money saved for retirement later has less time to grow (Matt. 25:27), meaning that you end up having to contribute much more to have the same amount if you started today.

Just start by doing what you can and gain momentum over time.

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