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Tuesday, October 19, 2010

The Challenge of Saving

By Jennifer Hudson Taylor

If you're anything like me, saving and being consistent at it, is a challenge. I have good intentions, I start saving, and then I find excuses. Like most people, I've endured a layoff that threw us into financial instability. Then I helped my husband start a new business with very little planning and preparation. Need I say more about this experience?

I know what it's like to have to hold off on paying one bill to be able to pay another that might be more important. How many times did we make the bad decision to go into the retirement fund to take care of some serious expenses that were eating at our nerves? Too many. 

The idea of making do with less--on purpose--by choice--seems crazy! 

Especially when we have to survive today. Tomorrow will take care of itself, but does it? 

Look at all the poor seniors who used to live busy productive lives who are completely dependent upon the government for their welfare and their healthcare. Social Security isn't a retirement plan and too many seniors are living on it as if it is. If they didn't get to take their dream trips while they were young, they aren't likely to go now. Many of them can barely survive month to month even while living in a home that is paid for. 

The collapse of the housing market and the loss of so many jobs have shattered dreams of owning a home. Many are having to start over with foreclosures and bankruptcies on their financial credit reports. Some are in their 20's, more are in their 30's, but most are in their 40's and 50's. By the time they wait 10 years for their credit report to clear, they will be looking at retirement. 

Is it too late for them?

In the Book of Job, he had lost everything, his health, family and wealth. This is what happened: "And the LORD restored Job’s losses when he prayed for his friends. Indeed the LORD gave Job twice as much as he had before." (Job 42:10)

Indeed, it is never too late for those of us who belong to God! We may have to change our living style, our habits, our way of thinking, and step out in faith, but if we are willing to try and invest in our savings. God can multiply it by tenfold--a hundredfold. He gave Job twice as much as he had before. But--yes, there is a but--Job had to be faithful to God and not give up. Don't ever give up! It's never too late! Also, it says Job prayed for his friends. If you have friends who are giving unwise advice, making bad decisions--don't judge them, pray for them.

We all have to start somewhere. It will be hard for someone with no job to save. You have to first keep believing for the restoration of a job. For those of us who are working, we need to set up an amount that is automatically deducted from our checking accounts or from our automatic deposits to a savings account. If you don't see it, sometimes it is easier to part with and to live without. For me, setting up an automatic deposit to savings took care of that inconsistent behavior I had--and my excuses.

Make this commitment to God, yourself, and your future. Too many Americans are living on borrowed credit and not saving enough. Then when things happen--a job loss, a serious illness, an accident, an economic collapse--they aren't prepared to survive the lean years without some serious repercussions. If you are already saving, consider bumping up your savings--even if it is only by $5 or $10. 

Let's put our faith into action and step out together! What are your thoughts on The Challenge of Saving?


Jennifer: Great advice. Wonderful devotion. Fits so many folks these days, as you mentioned. You nudged me to up that savings. Glad I stopped by.



Thanks for stopping by. I'm glad my obedience to write this post made a difference today! Blessings to you,

Seems like every time I save, something happens to deplete the fund. I've been unemployed for nearly 2 years now and unemployment is carrying me so far, but if that ends I may be depleting the savings at a much faster rate than I am now and it won't last very long.
I have faith that God will provide as He always has in my past.

Tossing It Out

Great post! This is stuff that like a lot of people we are facing as well, a struggling business that is on the brink of bankrutpcy. If we are going to "give up" it can only be in the sense of giving our troubles over to God to carry instead of carrying the burden ourselves. Then I find I have the strength to tackle the day's tasks!

Lee, I've had the same problem. As soon as I start saving, something happens with the car, the house, or a healthcare bill. I pray your job is restored soon!

Margo, We've had our struggles with my husband's fire safety business. So many small local businesses have gone under--several child care centers, a bookstore nearby...

Hang in there and listen to God. He will guide you.