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Best Saving Strategies to Secure Your Future

| October 30, 2017
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The future is coming, ready or not. Will you be financially ready?

Time will tell. But while we are waiting, we can do our part. 

Diversifying

The old adage of not having all of our eggs in the same basket rings true and helps to establish our savings goals. Hallmark counsel that has stood the test of time, diversifying is a safety net in case any of our investments fail to meet our goals. But resting in diversification alone would be a mistake. Once investment decisions have been made, they should be followed up on to ensure they are performing as well as expected.

Savings Vehicles

Not all saving options are equal, even if they yield similar results. Just like different vehicles suit different personalities, investment strategies are best suited to the people making them. Weighing the risk and availability of funds needed are significant aspects of our financial decisions. At the bottom of this post are articles of various saving options to consider. 

Counsel

Going it alone is not a wise strategy. There is victory in store for those who seek counsel. Finding a sound, biblically-oriented advisor can also ensure that your financial priorities are in line with your faith. Accountability helps us to reach our goals.

Taxes and Tithes

Giving to Uncle Sam what is due him and not a penny more is critical to having sufficient funds to be able to invest. Savvy tax strategies can make a significant difference in our future and also help us to bless others. Giving to the LORD from our firstfruits is critical to receiving the blessing from the LORD both now and eternally and can also help to solidify our savings goals. We cannot outgive God.

Consistency

Remaining consistent in allocating a portion of our finances to savings is key to achieving our savings objectives. A haphazard approach will likely fall short of your goals. Over the long-haul, a consistent effort will be the foundation of our nest egg.

Fear

Don’t be paralyzed with fear when some investments do not perform well. Hanging in there for the long haul is what ensures a stable financial future.

Additional Resources

  • This is an article identifying the seven best places to put your savings. 
  • Here is an article about Ten Biblical Financial Principles that will bless your savings endeavors.
  • Need help setting your financial goals? This article shares Five Things We Should All Be Saving For.

 

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