Religion

Easy Way to Save Money

Written by Joe Dardano

The Bible makes a strong case for believers to save money. Proverbs 21:20 says, “There is treasure to be desired and oil in the dwelling of the wise; but a foolish man spendeth it up.” This can be a hard concept in our consumer culture. For most people, it is easier to spend than to save money. Getting into the habit of saving can be difficult, especially for those living in highly urban areas where the cost of living is high. In many urban cities around the world, people struggle to earn a living, surviving paycheck to paycheck. The thought of setting aside some money every month to drop into a savings account is hard. What if, however, there is a way to save money every month without even thinking about it? What if you you work hard initially, make an investment and then just see the money saved up every month without much effort? Is this appealing to you? Consider investing in real estate. The leverage you gain is incredible. Initially, when you buy a property, you make a down payment and then get a bank loan. Over time, as you make mortgage payments, you own more of the property and the bank owns less. Even if the value of the property stays the same over 20 years, your equity portion increases and debt decreases little by little. Of course, you can cover your mortgage payments by renting out the property. This way, other people can help pay for you to own more and more equity share of your property. I see this method of earning wealth as much more palatable and easier way to save money than thinking about setting aside portions of you paycheck every month into a cookie jar. The wisdom of this approach is evident in Proverbs 31, where the ideal wife is described. The Proverbs 31 wife invests in real estate as well: “She considers a field and buys it; out of her earnings she plants a vineyard” (Verse 16). So, if you fret about not having the cash to save, consider investing in real estate. It will help you save more and more every month without having to think about it.

About the author

Joe Dardano

Leave a Comment

Skip to toolbar