A Biblical Approach to Finances: Saving Review

The last couple months, we've been recapping our Biblical Approach to Finances series which we started back in 2022. In September, we reviewed the foundation basics, and in October, we reviewed budgeting. You can find those two posts below:

A Biblical Approach to Finances: Foundation Review
Last month, we wrapped up the Biblical Approach to Finances series. Since we started this series a year ago, I thought it would be helpful to recap the different sections and provide highlights for each over the next few months. This series was broken into 3 parts: giving, planning, and
A Biblical Approach to Finances: Budgeting Review
After spending several months going over how our attitude should be about our finances, there were two months focusing on budgeting -- budgeting basics and understanding debt. This month, we’re going to briefly review those two blogs in case you missed them. Check out the first section review here:…

To complete this series, let's review the savings blogs. Just like in the other main sections of this series, we start off by getting our attitude in-line.

Savings Attitude

This blog was shorter and a bit different than the typical blog articles, in that it was mainly just Bible verses related to savings. Does God want us to save? What should our attitude be towards saving? I'll share a few of the verses from this blog, but I'd encourage you to check out the full article here:

A Biblical Approach to Finances: Savings Attitude
Throughout this whole series, we’ve been focused on first discussing what the Bible says about certain topics and then we provide other details on it. If you’ve missed any of the previous posts, you can find them all here: Biblical Finance - SEM Trader’s BlogSEM Trader’s BlogCourtney Dent This
"As for the rich in this present age, charge them not to be haughty, nor to set their hopes on the uncertainty of riches, but on God, who richly provides us with everything to enjoy. They are to do good, to be rich in good works, to be generous and ready to share, thus storing up treasure for themselves as a good foundation for the future, so that they may take hold of that which is truly life." -1 Timothy 6:17-19

This passage doesn't specifically mention God telling us to save money; however, it does give us a good perspective on our money in general. Here are some more specific verses on our attitude:

It is wise to save and foolish to use up

"Precious treasure and oil are in a wise man's dwelling, but a foolish man devours it." - Proverbs 21:20

We are to be good stewards

"Moreover, it is required of stewards that they be found faithful." - 1 Corinthians 4:2

After spending time reflecting on what our attitude towards savings should be, we moved on to specific types of savings.

Types of Savings

The three types of savings discussed were the emergency fund, rainy day fund, and long-term fund. An emergency fund is designed to prepare for sudden, unforeseen events including an ER visit, unforeseen car repairs, unforeseen and necessary home repairs (plumbing, HVAC, etc.) The goal should be to not have to put these expenses on a credit card.

The rainy day fund is to plan for a loss of income. If someone loses their job or is out of work, it's typically for 3-6 months. Therefore, you need to have money saved to prepare for a loss like this. There are two options for this savings fund which is discussed in the full blog.

A Biblical Approach to Finances: Types of Savings
Throughout this entire series, we start with where our heart (or attitude) should be on the specific topic. Last month we looked at what our attitude towards saving should be. Take a look at it here if you missed it. Now that we have our attitude right, let’s talk about

Finally, the long-term funds include saving for things like life insurance and college. Investing is closely tied to long-term savings, which was the focus of the last 2 blog articles of this series.

Attitude behind investing

Similar to our attitude towards savings blog, this was a shorter blog focusing on reflecting on some verses related to money/investing. Here are two of the key points discussed:

We must avoid the love of money

eoDe of 
No one can serve two masters, for either 
hate the one and love the other, or he will 
devoted to the one and despise the other. 
cannot serve God and money." 
He who loves money will not be 
Keep your li 
love of money

We must do something with what He has given

MATTHEW 25: 16-21 
"He who had received the five talents went at once 
and traded with them, and he made five talents more. 
So also he who had the two talents made two talents 
more. But he who had received the one talent went 
and dug in the ground and his his master's money... 
nd he who had received the five talents came 
rward, ringing five talents mor ... His master said to 
im, 'well done, good and faithful servant. You have 
been faithful over a little; I will set gou over much. 
Enter into the jog of gour master?" 

I go into more details in the full blog:

A Biblical Approach to Finances: Attitude Behind Investing
Investing is the last topic in our Biblical Approach to Finances series. We’re going to split it into two different blogs. Just like with the other topics, we’re going to start with our attitude and what the Bible says about it. This is going to be a shorter blog than

Investing 101

The last blog was a bit more complex because a lot goes into investing. This blog was longer and covered:

  • What makes a good investment?
  • Risks and Returns
  • Types of Investments
  • Picking the right investments

While this is a longer blog, I'd encourage you to read through the whole thing if you haven't already.

A Biblical Approach to Finances: Investing 101
We’ve reached the last month of our Biblical Approach to Finances series. Last month, we went through what our attitude towards investing should be using various Bible verses. Now, we’re going to wrap up the series with some investing 101: * What makes a good investment? * Risks and Returns * Ty…

The key takeaway from this blog is that investing is not a one-size-fits-all approach. Depending on your objectives, time horizon, and risk tolerance, you will want to be invested in different things to fit your needs. Jeff shared a short TikTok video on different types of investment accounts:


Financial planning can be overwhelming, especially trying to prepare for retirement. We want to help simplify retirement with this short video explaining the types of retirement accounts. #financialliteracyfriday #financialliteracy #retirement #retirementplanning #retirementaccounts #financialsuccess

♬ original sound - Finance Nerd - Finance Nerd

This is a lot of information in regards to investing, and it can seem overwhelming. The best next step to take if you're wanting to start investing, is to take our risk assessment. This helps us figure out what your risk tolerance level is and what your investing objectives are. If you're interested, you can find our risk questionnaire at risk.semwealth.com.

Again, we hope this series has been beneficial for you or someone you know. As we enter the last month of 2023, let's try to prepare for financial success in 2024! If you have other topics you'd like us to go through, please email me and let me know.

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West Point, VA
Courtney is SEM's Marketing Manager. She joined SEM full-time in 2016. Outside of SEM, Courtney enjoys hiking with her golden retriever, Mya and volunteering at LifePointe Christian Church.