6 Benefits of Savings Bible Verses

by Serena at Stewardship.com

Benefits of Savings Bible Verses

The Bible mentions several ways how saved money was used in the past. Some are still obvious today. Here are 6 benefits of savings according to the Bible:

  1. For basic needs like food and shelter
  2. Preparing for emergencies
  3. Making friends
  4. An inheritance for your children
  5. Giving to others in need
  6. Worshiping and serving God

Savings for Basic Needs Bible Verses

One of the earliest uses of money in the bible is to use it to buy food and water. It can also be used to buy other things in life. Savings can help develop a city and also build houses. In the Proverbs here it says that it is like an unscalable wall in the rich man’s imagination. This is because that it can be used in powerful ways, thus sometimes it gives an illusion that it can protect us from all kinds of bad things.

Food and Water

  • You shall purchase food from them for money, that you may eat. You shall also buy water from them for money, that you may drink. (Deuteronomy 2:6)
  • You shall sell me food for money, that I may eat; and give me water for money, that I may drink. Just let me pass through on my feet. (Deuteronomy 2:28)
  • A feast is made for laughter, and wine makes the life glad; and money is the answer for all things. (Ecclesiastes 10:19)

Shelter or Protection

  • The rich man’s wealth is his strong city. The destruction of the poor is their poverty. (Proverbs 10:15)
  • The rich man’s wealth is his strong city, like an unscalable wall in his own imagination. (Proverbs 18:11)

Bible Verses on How Savings Help Prepare for Emergencies

In the bible, Joseph was given wisdom by God to interpret the dreams of the Egyptian Pharaoh, which warned them of the upcoming 7 years of plenty followed by the 7 years of famine. Joseph used the wisdom of God to advise the Egyptians to gather the food during the years and plenty.

When the famine hits the whole region had no food except the Egypt area as it was by the grace of God that Joseph had already stored those food. As a result, they were able to not just survive but to help people from other regions who came to them for food.

  • Let them gather all the food of these good years that come, and store grain under the hand of Pharaoh for food in the cities, and let them keep it. (Genesis 41:35)
  • He gathered up all the food of the seven years which were in the land of Egypt, and laid up the food in the cities. He stored food in each city from the fields around that city. (Genesis 41:48)

Money can also help pay for healthcare that is needed for saving a life. It can be a form of protection for disasters. However the bible warned us not to put our trust in our savings. We need to put our trust in God’s character and His faithfulness.

  • There was a great famine in Samaria. Behold, they besieged it until a donkey’s head was sold for eighty pieces of silver, and the fourth part of a kab of dove’s dung for five pieces of silver. (2 Kings 6:25)
  • The ransom of a man’s life is his riches, but the poor hear no threats. (Proverbs 13:8)
  • For wisdom is a defense, even as money is a defense; but the excellency of knowledge is that wisdom preserves the life of him who has it. (Ecclesiastes 7:12)
  • But ten men were found among those who said to Ishmael, “Don’t kill us; for we have stores hidden in the field, of wheat, and of barley, and of oil, and of honey.” So he stopped, and didn’t kill them among their brothers. (Jeremiah 41:8)

Benefits of Savings Even Includes Making Friends

It can be socially desirable to have more savings. However how superficial that is, when one is judged by how much he has instead of his character. We bring nothing into this world and we cannot bring anything along with us when we leave this world. Friends made in this way, for no other reason, are probably going to be shallow.

  • The poor person is shunned even by his own neighbor, but the rich person has many friends. (Proverbs 14:20)
  • Wealth adds many friends, but the poor is separated from his friend. (Proverbs 19:4)

This is an unfortunate effect of wealth and poverty. It shows the Bible's wisdom in providing a wide range of insight into money and how human behavior is influenced by it. See this post for more information on what the Bible says about money.

Bible Verses on Savings for Children's Inheritance

Money saved can be provided to one’s children, as inheritance. This can be a form of love that provides and leaves a good legacy or example to your children that you have done your duty as a parent in their lives. However how the children will use the money will really depend on them. Besides leaving money for the children, one should also educate children on how to use money with the wisdom from God. So that when they inherit the money, they would be able to be good stewards and carry on your legacy.

  • You fill the belly of your cherished ones. Your sons have plenty, and they store up wealth for their children. (Psalm 17:14b)
  • A good man leaves an inheritance to his children’s children, but the wealth of the sinner is stored for the righteous. (Proverbs 13:22)
  • House and riches are an inheritance from fathers, but a prudent wife is from the LORD. (Proverbs 19:14)

Benefits of Savings: Giving to the Needy

Money can be used to help others in need, to provide for what they lacked, and to do good. See this post for more examples of helping the poor.

  • As sorrowful yet always rejoicing, as poor yet making many rich, as having nothing and yet possessing all things. (2 Corinthians 6:10)
  • How in a severe ordeal of affliction, the abundance of their joy and their deep poverty abounded to the riches of their generosity. (2 Corinthians 8:2)
  • That they do good, that they be rich in good works, that they be ready to distribute, willing to share; (1 Timothy 6:18)

Savings Can Be Used to Worship and Serve God

(See the full post on offerings to God. Here we include just a small sample of relevant verses.)

The bible talked at great length of using the money one has to build the Lord’s temple and to use it in ways in the worship of the Lord. Where the treasure is, there the heart will be also. When we love the Lord with all our heart, a natural response is to give a portion of what God gave us back to him. It all belonged to him in the first place- our ability to work, our health, our intelligence and our jobs.

  • They came into the house and saw the young child with Mary, his mother, and they fell down and worshiped him. Opening their treasures, they offered to him gifts: gold, frankincense, and myrrh. (Matthew 2:11)
  • Jesus sat down opposite the treasury and saw how the multitude cast money into the treasury. Many who were rich cast in much. (Mark 12:41)
  • They came, both men and women, as many as were willing-hearted, and brought brooches, earrings, signet rings, and armlets, all jewels of gold; even every man who offered an offering of gold to the LORD. (Exodus 35:22)
  • Everyone who offered an offering of silver and bronze brought the LORD’s offering; and everyone with whom was found acacia wood for any work of the service, brought it. (Exodus 35:24)
  • King David also dedicated these to the LORD, with the silver and the gold that he carried away from all the nations: from Edom, from Moab, from the children of Ammon, from the Philistines, and from Amalek. (1 Chronicles 18:11)
  • Now, behold, in my affliction I have prepared for the LORD’s house one hundred thousand talents of gold, one million talents of silver, and bronze and iron without weight; for it is in abundance. I have also prepared timber and stone; and you may add to them. (1 Chronicles 22:14)
  • Blessed be Yahweh, the God of our fathers, who has put such a thing as this in the king’s heart, to beautify the LORD’s house which is in Jerusalem; (Ezra 7:27)
  • I said to them, “You are holy to the LORD, and the vessels are holy. The silver and the gold are a free will offering to the LORD, the God of your fathers. (Ezra 8:28)

Bible version: the public domain World English Bible (WEB) has been used throughout this post. The WEB translation of "Yahweh" has been changed to "the LORD" which is more familiar to most readers.