“The wise man saves for the future, but the foolish man spends whatever he gets.” Proverbs 21:20

By John E. Schrock, Businessman

Underline the key concepts found in this principle.

Years ago it was foolish to be known as a spender, a penny saved was a penny earned. People bought when they had money. They saved for what they wanted, and made sure they had some left for their children. A person’s character was judged by their ability to save and protect a set of values, whether it was money, products, or morals. People understood the wisdom of "saving for the future." The principle of saving develops an attitude of value. Our thoughts will be on preserving things, making things last longer, keeping things repaired, and getting more mileage out of the things we already have. It will stop waste through haste, and make us think of quality and product value to the extent that it will change our thinking from "What can I get?" to "Thank God for what I have." It is not wrong to think of what we would like to have, if it is controlled with a set of values. We’ll save ourselves a lot of frustration if we stop and ask ourselves these four questions before we spend:

1. Do I need it?

2. Can I afford it?

3. Why do I want it?

4. When should I have it?

We have developed a throw-away, self-serving society, and we are programmed to think, "If I want it, I’ll get it. I deserve it now. I’ll charge it and make those easy monthly payments." So we spend, spend, and spend, trying to satisfy ourselves and keep up with everyone else. We foolishly spend not only what we have, but what we don’t have as well.

We have made it easy to borrow money or get credit. We are bombarded with pre-approved credit cards, and credit offers of "6 months without interest", "no payment for one year" and many others. But they don’t tell about the highly inflated interest rates after the initial offer. They are binding many of us in payment plans that are almost impossible for us to get out of for years to come, causing hardships that will destroy marriages and our health. However, credit cards can be good if you can manage them.

Those who are wise, save and build for the future - they plan and spend wisely. They don’t just have a savings account, they invest in property, buildings, and personal business ventures. They believe in God and themselves. They will also invest in other ventures, because they believe in others and are willing to risk with them. They are not just consumers, but investors and savers. When things get tough, they survive. They are at peace with themselves, their credit cards, and with the bank.

Our country should have practiced this principle of saving and spending wisely, and we would not be plagued with a debt of trillions of dollars. God has a way that is right and that works. It brings peace to our families, takes pressure and frustration out of our lives, and our children and grandchildren will thank us for being examples. Sooner or later we will have to learn to use some common sense and live by His rules. If we don’t choose to do it now, we will shortly be forced to. Let’s not be foolish, but wise, and learn how to save for the future.

This principle is part of the one year character development program: Foundations For Achievement.

Thoughts to Ponder:
Behind every successful family there is someone who saves for the children..