What you gather in the summer can sustain you through the winter, but only if you understand how to make your money last.
When I think about providing for my long-term financial future, I think about Alaska.
Some of the world’s most delicious salmon comes from Alaska. In other places, salmon can be pretty expensive. But in Alaska, it’s free — if you’re willing to catch it. During salmon season, rivers and streams throughout the state are chock full of the fish, and locals are allowed to catch as much as they want.
Many Alaskans take advantage of salmon season to provide meat for their families. During the summer, they fish for days on end. They eat what they can while it’s fresh, then freeze the leftovers and live off them for the rest of the year.
These fisherman understand something important: Just because you have plenty today doesn’t mean you’ll have plenty tomorrow. To live in freedom, you have to make your money last.
The Bible teaches us more about this principle in Proverbs 21:20. Here’s what it says —
The wise man saves for the future, but the foolish man spends whatever he gets.
If you’ve ever wondered whether it’s morally acceptable to have a lot of money, this proverb answers the question. It’s not just ok — it’s wise. Gathering wealth today can help you live in freedom tomorrow. In this article, we’re going to unpack that principle.
But first, I want to tell you about Stress-Free Finance, a free program we have created to help you make sense of your overwhelming financial life. This five-part video series has short, simple lessons to help you solve money problems so you can stop worrying and build a better future.
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Now, back to the topic at hand:
Once you get out of debt and build up your emergency savings, you need to turn your efforts to fund your future. As you do, I want you to keep three principles in mind.
1) You can’t have wealth without wisdom.
Sometimes foolish people come into big sums of money. But without wisdom, they lose it all. If you want to build wealth over your lifetime, start by being wise with what you have now. Make decisions with the long term in view. Your future self will thank you for it.
2) You can’t have prosperity without preparation.
Wealth and freedom don’t happen by accident — they come from making wise choices made day after day and year after year. To enjoy prosperity tomorrow, prepare for it today. Those preparations don’t have to be big, but they do need to be consistent. Your consistency will set stage for a future of freedom.
3) You can’t have savings without surplus.
Consistent savings requires a budget surplus. You have to spend less than you make. This is where many people go wrong, consuming everything they have without thinking about the future. Wise people, on the other hand, control themselves now to enjoy themselves later.
If you’re struggling with debt or trying to get a handle on your budget, storing up wealth for the future may seem impossible. But wisdom and diligence will get you through this difficult period. And once you’re out of debt, they’ll lead you to a prosperous future.
