general views on finances

Question: Is it possible to save up too much money?

I. Warnings About Riches

Money, in general, is a good thing. However, it is possible for believers to accumulate more money than they should. What makes an amount excessive? Is it OK or good to be rich?

1 Timothy 6:10
For the love of money is the root of all evil: which while some coveted after, they have erred from the faith, and pierced themselves through with many sorrows.

A common, reasonable-sounding teaching is that there's nothing wrong with having a lot of money, but the love of money is the problem. I don't exactly agree.

1 Timothy 6:9
But they that will be rich fall into temptation and a snare, and [into] many foolish and hurtful lusts, which drown men in destruction and perdition.

This verse doesn't just say they who love money, but they that will be rich. In other words, not only should we not love money, but we shouldn't want or desire to be rich.

James 2:5
Hearken, my beloved brethren, Hath not God chosen the poor of this world rich in faith, and heirs of the kingdom which he hath promised to them that love him?

The poor are rich in faith.

Luke 18:25
For it is easier for a camel to go through a needle's eye, than for a rich man to enter into the kingdom of God.

Interpreted correctly, this verse means that it's difficult, (though we see in the next verses that it's not impossible), for rich people to get into the kingdom. That's the fact.

James 5:1
Go to now, [ye] rich men, weep and howl for your miseries that shall come upon [you].

Rich people will be miserable. The Bible has many warnings about riches, but as far as I've seen, I don't think it seems to say that it's OK or good for believers to be rich.

II. Saving Up Is Important

We might not want to be rich, but money is valuable, and it is good and important to save.

Ecclesiastes 10:19
A feast is made for laughter, and wine maketh merry: but money answereth all [things].

This verse tells the value of money.

Proverbs 10:15
The rich man's wealth [is] his strong city: the destruction of the poor [is] their poverty.

Having savings is like investing in property, like owning a field, building a house, and having security. It's my favorite type of insurance policy. And, if you don't want to take on debt, saving up for large expenditures beforehand is debt-free alternative.

III. Warnings Against Waste

Matthew 7:6
Give not that which is holy unto the dogs, neither cast ye your pearls before swine, lest they trample them under their feet, and turn again and rend you.
Proverbs 27:23 & 24
Be thou diligent to know the state of thy flocks, [and] look well to thy herds.
For riches [are] not for ever: and doth the crown [endure] to every generation?

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