The piggy bank.
In old England around the 15th century, people made all kinds of useful objects out of clay, including dishes and jars to hold spare change. Metal wasn’t used much and it was very expensive. So, dishes and jars were made from an easily available orange clay that was called “pygg.” Families often kept any spare household coins in one of their clay pygg jars. They became commonly known in England as a pygg jar and later a pygg bank.
Around the 18th century, the word “pygg” now sounded the same as the word for the animal “pig.” Some potters began making clay banks in the shape of a pig and the first piggy banks were born.
I remember having one of these as a kid. Saving is something kids often learn to do. But most of us have outgrown piggy banks. And sadly, we’ve outgrown saving.
Learning how to be wise with your money frees us up to be all that God wants us to be. And it increases our joy!
The blessing of the Lord makes rich, and He adds no sorrow to it.
Proverbs 10:22 (ESV)
God wants you to grow in your wisdom regarding finances. Proverbs not only talks about saving your money, but also about
earning your money,
sharing your money, and
using your money.
Today’s focus: saving your money.
Before we look at some verses about saving, let’s think about some general principles about wealth. First, God loves the poor.
Suppose someone comes into your meeting dressed in fancy clothes and expensive jewelry, and another comes in who is poor and dressed in shabby clothes.
If you give special attention and a good seat to the rich person, but you say to the poor one, “You can stand over there, or else sit on the floor” – well, doesn’t this discrimination show that you are guided by wrong motives?
Listen to me, dear brothers and sisters. Hasn’t God chosen the poor in this world to be rich in faith? Aren’t they the ones who will inherit the Kingdom he promised to those who love him? James 2:2-5 (NLT)
First, God loves the poor, people who live a hand-to-mouth life. Those tsunami vistims aren’t thinking about saving. They’re thinking about surviving.
Second, most churches in America are filled with wealth. We may not think we are wealthy, but compared to what the rest of the world has, we are. And the fleeting nature of wealth ought to keep us humble.
The brother of humble circumstances is to glory in his high position; and the rich man is to glory in his humiliation, because like flowering grass he will pass away.
James 1:9-10 (NASB)
If God grants us an abundance, He wants us to save. But let’s never forget that wealth can never become our focus, our hope, our trust.
Command those who are rich in this present world not to be arrogant nor to put their hope in wealth, which is so uncertain, but to put their hope in God, who richly provides us with everything for our enjoyment.
I Timothy 6:17 (NIV)
Now with all that as a background, let’s take a look at what the Bible says about “piggybanking” – about saving.
1. See the spiritual side of saving.
Some Christ-followers might say, “God says in Philippians 4:19 that He will meet my needs so I don’t have to save. He’ll provide. Jesus even said in Matthew 6 that we are not to lay up treasures on earth.”
Well, those verses are to be taken seriously. But we can’t ignore the fact that other verses in the Bible instruct us to save. It appears that one way God provides is by giving us the ability to save.
A good man leaves an inheritance to his children’s children, but the sinner’s wealth is laid up for the righteous.
Proverbs 13:22 (ESV)
God’s design is that we not only have enough to support ourselves and our family, but that we think about the future. We share our resources not only with our own children, but with their kids, too.
Think about how long a good man’s money lasts. He is looking out for his grandchildren. He doesn’t spend every dime on himself. He thinks about those who are coming after him.
I have to be honest, I have nothing from my grandparents. What will I leave for my grandchildren?
If you can’t leave much to your grandchildren in terms of money, you can leave intangible things that have lasting value. Prayers. Teachings. Example. Letters.
But let’s not water down the meaning of this verse. Let’s not over-spiritualize it. Take it at face value.
Some people say saving money is not spiritual. Yes, saving is wrong when it turns into hoarding (Luke 12:20-21). But saving money to meet a future need and to prepare for your later years is a sign of wisdom. Saving is one way that you provide for your family.
If anyone does not provide for his relatives, and especially for his immediate family, he has denied the faith and is worse than an unbeliever.
I Timothy 5:8
Saving so I won’t be a drain on my kids when I retire is a good thing. Saving so I can be free to “retire” to devote more time to serve Christ is a good thing. Saving so I can invest my savings in the kingdom someday is a good thing.
My friend, Gordon Heffern was past President of Society Bank, now Key Bank. He once told me, “I don’t want my kids waiting around for me to die to get my money. I’ll help with their education and a down payment on a house. After that, I’m giving the biggest portion of my wealth to the Lord’s work! So, he and several other leaders in NE Ohio, including our own Dwight Short, started HIS Foundation. It’s designed to be a place to invest your money and direct it to support those causes of Christ that are most important to you.
Listen, we ought to save so that there’s a surplus when we die. And then, we can put the church, God’s work, in our wills! Who said you have to give it all to your kids when you die? Around here, we talk about …
The 10-10-80 plan:
Sharing 10%. One tenth goes to support God’s work.
A tenth… belongs to the LORD and must be set apart to him as holy.
Leviticus 27:30 (NLT)
Give to God’s work. Give to the local church, the local storehouse. If I do that, the rest will be blessed. If I don’t, Malachi 3 says, the rest will be under a curse. I choose blessing. Sharing 10%.
Saving 10%. One tenth goes to your savings.
You worked hard for your paycheck. Pay yourself by putting some earnings into savings! This is not to be vacation fund money. It’s not a “mad-money fund.” This is to be put it somewhere so you will earn some interest. Too many people work until retirement and spend everything that they ever earned. They enter into their last years with nothing. They spent it all. How tragic. Don’t let that happen to you. Pay yourself!
Spending 80%. The rest goes for your living expenses.
You already honored God and paid yourself. Now, spend! Use the rest of the money God gives you with wisdom. Enjoy the 80%. I love to be generous with my kids. I want to see them enjoy what I give them. I think God is like that, too.
See the spiritual side of saving.
2. Create a cash-cushion.
The wealth of the rich is their fortress; the poverty of the poor is their calamity.
Proverbs 10:15 (NASB)
If you are in a nation at war, you want to be in a fortified city. That’s the way to be safe from an enemy army.
Well, we all have enemies who want to bring us down financially. We need a fortress. And wealth saved up can be that for us.
Now, I know that God is our ultimate fortress and our defender. But He has given us the ability to earn. And if we work diligently, give cheerfully and spend wisely, then we’ll often find that we have a surplus from God that will be our fortress.
Here’s the idea: Create a cash-cushion as a defense. Save so you can support yourself and your family in tough times.
… money is protection…
Ecclesiastes 7:12 (NASB)
Unexpected expenses happen. Emergencies emerge. Are you ready?
A prudent person foresees the danger ahead and takes precautions. The simpleton goes blindly on and suffers the consequences.
Proverbs 27:12
Create a cash-cushion.
3. Collect interest on your interest.
Wealth gained hastily will dwindle, but whoever gathers little by little will increase it.
Proverbs 13:11 (ESV)
Try “get-rich-quick” schemes and you’ll regret it.
The word “hastily” here can be translated “fraud.” One pastor wrote about this verse: “Whatever is gotten in a wicked way very seldom lasts long; it lessens by little and little till it comes to nothing.”
But it’s the last part of the verse I want us to think about. “Whoever gathers wealth little by little will increase it.”
Saving just a little here and there will make huge difference – especially if you start young. If you save, invest wisely, leave it alone, and let it build, then your interest will start earning interest and that’s where this principle of compound interest starts to kick in.
Let’s see how the 10 -10 - 80 plan works over time.
Let’s say your income is $60,000 annually. Assuming a ten percent interest rate, if you start the 10 - 10 - 80 plan and keep it up for 20 years, then, at the end of that time, you will have given $120,000 to God’s work and saved $343,000 because of compound interest!
“Smart couples finish rich.” Billy vs. Kim.
We’ll talk more about this later.
Collect interest on your interest.
4. Say “no” now to say “yes” later.
Be smart when you spend. Practice delayed gratification.
Those who love pleasure become poor; wine and luxury are not the way to riches.
Proverbs 21:17 (NLT)
This verse describes a person who loves spending money to feel good. An indulgent lifestyle. High living. Fancy meals. We can go for it all in the here and now. But we will pay later.
That money that was supposed to go to the kids and the grandkids? Gone. That money that would make for a retirement not dependent on the generosity of your kids? Gone. That money that could have been invested so you could retire early and devote your life to the service of Christ? Gone!
II Timothy 3:4 describes these kinds of people as “lovers of pleasure rather than lovers of God.”
This desire for more and more stuff is especially difficult in our culture. Marketing is designed to allow someone else to get their hands on your cash – to steal what just might have been your savings. “Big sale!” “75% off!” Maybe some of your savings ended up in the pockets of some people at a place you might just recognize.
Be sensible and store up precious treasures – don’t waste them like a fool.
Proverbs 21:20 (CEV)
Don’t forget: Impulse spending will mess you up. There ought to be a label on our credit cards: Warning – overuse may be hazardous to your personal wealth.
Say “no” now to say “yes” later.
* * *
We have a special guest today who’s not really a guest because she goes to church here. I’d like to ask Terry Murray to join me.
While she’s coming, I want to make you aware of an upcoming opportunity.
Dwight Short is a leader in our church who is starting a NE Ohio chapter of the National Association of Christian Financial Counselors. If you are working in the financial services business and want to grow your business to be what God wants it to be, then you are invited to a Tuesday, February 8, 7:30 breakfast at the Holiday Inn Rockside. To let us know of your interest, just write “Dwight Short” on your CARE card. And well get you some more information.
OK. This is Teresa Dixon Murray. Maybe you’ve read some of her articles in the PD. She’s a business reporter. In December, she wrote an article that really caught my eye. And I asked her to share some of her expertise with us today.
• You shared with me some alarming statistics about the state of saving in our nation. Will you share some of those things with us today?
• What are some things that people can do to start saving money?
• On the screen are some statistics about how compound interest can work for us. Can you help explain what we’re seeing?
• Talk to us a little about the importance of just starting the discipline of saving.
• When we were talking on Friday, you inspired me to think this: “Followers of Christ should not be victims of culture when it comes to saving and spending, we should be models to the culture.”
* * *
“Rick, you don’t understand. I’ve blown it. It’s too late for me. I bought CDs and cell phones and cars and clothes. What I could have saved is not in my piggybank any more.”
It’s never too late to start doing the right thing. You matter to God. And Jesus died for all your sinning and all my sinning – even the sinning of misusing and abusing the money He’s entrusted to us.
He’ll be your pardon and your power. Come to Him. He’ll save and He’ll help. In the end, it’s all about the supremacy of our Savior, not the size of our savings. Savings must be leveraged to serve the Savior.
I pray that many of you will start making good money soon and that you’ll saving now and that you’ll be considered wealthy someday. Why? So, you can quit your job here in the US and go to the mission field to win people for Christ. Retired Christ-followers ought to quit throwing their lives away on the golf course when they could be giving themselves to the global cause of Christ. Where in the Bible do we see the kind of retirement that most everybody works for? Did Moses retire? Did Paul retire? Peter? John? Do military officers retire in the middle of a war?
A point to ponder: All my money matters to God.
The 10% that goes to God. The 10% that goes to savings. The 80% that you leverage for your own life so you can serve Jesus better and better,
A verse to remember: So then each of us will give an account of himself to God. Romans 14:12 (ESV)
A question to consider: By God’s grace and for God’s glory, how will I save some money this week, this month, this year?
Save, yes. But remember: only Jesus can give the life that matters in the end. Can you imagine someone on his deathbed whispering to a family member, “Please, read to me the figures in my savings account. Read to me from my portfolio.” But I hope you can imagine yourself saying in that hour, “Read me Psalm 23. Read to me Romans 8. Read Revelation 21. Tell me the story of Jesus.”
