Getting a Real Savings Started (Day 1)

How long have you been planning to get a savings started? Each pay period it’s the same thing; you make enough money to pay your bills and tie you over to next pay day (if you’re lucky). You vow to start the first of next month, or the first of next year, or when you get your next raise; but the savings never happens. No matter what you do, there never seems to be much left over, in order to start. But, you can do this! With some helpful information, a plan, and diligence, you can finally start a real savings.

In Genesis 41, Joseph urged Pharaoh to put away 20% during times of plenty, to prepare for the years of famine. Now, 20% is not realistic for most people, but what we can affirm is a clear support for savings. Life is going to happen.

Pay yourself first. No, not treat yourself first. Even if you worked a full 80 hours or more and think you deserve it, pay yourself first. Put something in savings, to build towards stability and wealth.

This is one of the top habits of the wealthy. 

They recognize the need to pay themselves first. Things will always come up, so develop a habit of setting money aside- in a savings account. The amount doesn’t matter at this point. We are developing an important discipline. One that says, no matter what happens, before I start paying other people and places, I will pay myself first. Before I support some else’s wealth, I will support my own. Not because I am greedy and unbalanced in my thinking and actions, but because savings is both wise and scriptural. 

This week’s scripture, says, The plans of the diligent lead surely to abundance, but everyone who is hasty comes to poverty (Proverbs 21:5). 

Your plan? Make it easy to get started and continue: setup automatic deposits through payroll deductions. Make it simple to track: setup a dedicated savings account- separate from checking account.  Make it hard to mess up: don’t link it to your checking account and don’t get an ATM or debit card. This will give you time to ride out that impulse to buy that thing on sale, that you just have to have. There’s a lot more you can do, too.

Be diligent in educating yourself and creating your plans. But, after you have diligently planned, execute. In order to have a savings, you have to start saving. Let’s walk through this together and get a real savings started in the next two weeks. Tune in the rest of this week, as we build on this topic- step-by-step.