Matthew 25:24-29 – “‘Then the servant with the one bag of gold came and said, ‘Sir, I know you are a hard man, harvesting crops you didn’t plant and gathering crops you didn’t cultivate. I was afraid I would lose your money, so I hid it in the earth and here it is.’
But the master replied, ‘You wicked and lazy servant! You think I’m a hard man, do you, harvesting crops I didn’t plant and gathering crops I didn’t cultivate? Well, you should have at least put my money into the bank so I could have some interest. Take the money from this servant and give it to the one with the ten bags of gold. To those who use well what they are given, even more will be given, and they will have an abundance. But from those who are unfaithful, even what little they have will be taken away.’” (emphasis added)
It is a simple (and wise) investment to at least put the money we aren’t using into a savings account. In this way, it is working for us by earning interest. Don’t be tempted by fear to do nothing with your finances! This is a mistake, even something that is seen as wicked and lazy! Be a good steward of what God has blessed you with and work to make your money multiply.
You may say, ‘but I need this money to pay bills!’ And it is great that you have assigned finances to pay for upcoming bills. But, in the mean time, what is the money doing? If it is sitting in a normal account for a length of time, waiting for the bill to fall due, then it might as well be sitting in savings, earning interest.
In that regard, if you are organised, you may like to sit your bill money in a savings account until the bill falls due, and then pay it on time. It can be a relief to pay a bill early, but if you let that money instead earn you interest and then use it to pay a bill on time, then you have earned money with the finances put away to pay bills.
Investing and Managing Finances
I know of people who pay all their bills on credit card. They have the money to pay for their bills, but instead they let this sit in a savings account, earning interest for as long as possible. When the credit card falls due, they then transfer this money over to pay off the credit card. In this way, they’ve bought time and earned interest. This is only wise if you know you can consistently pay off your credit card.
At the end of the day, the interest earned in a savings account is a lot less than the interest incurred if you don’t pay your credit card on time. Consider 3% interest earned on $500 as opposed to 17% interest owed on a $500 credit card bill. On top of this, the interest owed on a credit card also accrues its own interest! Ouch.
Think of creative ways you can manage your finances so that they are earning you money before they’re used to pay for food, fuel or an upcoming bill. This is something simple you can do to increase your monthly earnings.
It is my prayer for you:
– That you will recognise the value of accruing that little bit more, consistently.
– That you will find ways to put more money in savings – even for short periods of time.
– That you will be one of those who use well what they’re given and in doing so, you will gain abundance.
Today’s prayer:
Lord I thank you that there are ways I can better manage my money to earn interest on savings, even if I can’t bring in more income through work. Help me to think outside the box so that I can bring in a greater return and in future use it for you.
Actionable ideas:
Keep the majority of your money in a savings account so that it is earning interest. Only leave in your daily account that amount which you need to cover expenses for the upcoming week. If things change, you can always transfer from the savings account into your daily account. Until then, your finances can be working for you.
*these posts are from Wealthy Christians, a 30 day devotional. You can download it free on Smashwords.
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