The saver’s mindset is a powerful mindset as this mindset knows the value of preparing for life. How often have you felt as if something unexpected always pops up? Perhaps, this is true because we are not thinking past the moment. I have also seen the downside of this mindset as extreme savers. As in the last blog “The Generous Side of the Spender’s Mindset.” We learned that neither extreme is good.
The power of the saver’s mindset is preparing for ups and downs. I often hear people say “more money more problems” but that’s not always the case with a plan. If you have an idea of how much to save you will build a defense with your money. Ecclesiastes 7:12 NIV “Wisdom is a shelter as money is a shelter, but the advantage of knowledge is this: Wisdom preserves those who have it.” I speak in detail on this in my course Building Business Freedom.
The wise store up choice food and olive oil, but fools gulp theirs down. Proverbs 21:20 NIV. When I first read this verse I thought, oh wow. I am not a fool. In the scriptures a fool is unwise. And when I reflect on my behavior 20 years ago this was true for me. I did not store up money. But now I do and I keep a margin or reserve for “what ifs”. Savings for me has supported my family through hard times.
Abundance & Poverty Mindsets
Savers are often falsely accused of not having an abundance mindset. The challenge for a saver and a spender is properly understanding how to apply faith.
Abundance is overflow and comes in many forms but is most often associated with money. A poverty mindset hoards money or spends without wisdom. Many people misunderstand the abundance mindset by spending without a plan and continuously testing faith. These individuals often say a saver has a poverty mindset because they delay spending. Before you falsely accuse a saver of a poverty mindset review what they are trying to share.
- Don’t rush into financial purchases. God doesn’t rush things. If you feel rushed it’s not God.
- There is always another option. Avoid the “do it now it’s your only option because It takes money to make money” pitfall.
- Delayed gratification leads to hearing God’s direction with purchases, planting seeds, having fun or investments.
Savers can create a plan to help themselves and others around them when needed.
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