Are you a Spender or Saver? The Pros and Cons of BOTH

Life seems to throw dichotomies at us often: Be it Extravert/Introvert, Planner/Spontaneous, Yankees/Red Sox. Whatever it may be, it seems that often we can draw the proverbial line in the sand and divide ourselves up one way or the other. In countless ways, we seem to split across a variety of personality traits that oppose or compliment our counterparts.  I find the financial realm to be no different.

Most people gravitate towards one extreme: Spending or Saving. I find both traits to have their ups and downs:

SPENDERS:

Pros – The spender is often a very generous person. Giving money as the Lord calls-liberally and willingly-provides no butterflies in the stomach for the spender. I find people who hold their money loosely tend to be the best, biggest, and most generous givers. They enjoy their financial blessings with themselves, family, friends, the cause of the gospel, and those in need.

Cons – Just as I mentioned before, the spender holds his or her money loosely. While this can lead to joyful generosity, it can lead in negative directions as well. Spenders can tend to take their financial responsibilities lightly, slack in preparing for the future, or most commonly-spend money foolishly. The Bible challenges us all to be wise stewards of our resources. The tendency towards generosity can also lead spender to be extremely generous to…themselves, and thus in some cases use their resources very selfishly.

SAVERS:

Pros – Savers often are very wise with their money. They plan and prepare for the future (thus the saving). This is Biblical and wise. They have resources available, love the parable of the talents, and take the responsibility of stewardship seriously. Since they are not naturally prone to spend, they give careful thought to the money they do spend.

Cons – The saver holds their money tightly. This can lead to them managing it well, but just as likely lead a person to being stingy, miserly, or scrooge-like. The saver needs the help of the Spirit to find joy in generosity. Secondly, savers can have a hard time enjoying spending because they hate to part with their hard-earned-squirreled-away funds. In some cases, this feeling is so excessive it is detrimental to the saver, his or her family, friends, the cause of the gospel, or those in need.

The biggest error in approaching matters like this is to think that your natural tendency is the best way. They both have pros and cons, and ultimately, the Bible will call us to balance.

 John Wesley, one of the great Christian minds of history had a simple approach to money:  three basic rules.  For more of an explanation of these principles you can read “Sermon No. 44: The Use of Money.”  The sermon has some very interesting points to ponder.  Surely a person could distort the simple message of Wesley, but his basic message is extremely Biblical. Save All You Can

“This is the second rule. Money is a precious gift. It should not be wasted on trivialities. Do not spend money on luxury foods, but be content with simple things that your body needs. Ornaments too, whether of the body, house or garden are a waste and should be avoided. Do not spend in order to gratify your vanity or to gain the admiration of others. The more you feed your pride in this way, the more it will grow within you.”

 The Bible is clear on the importance of saving, “He who gathers in the summer is a son who acts wisely, but he who sleeps at harvest is a son who acts shamefully.” (Prov. 10:5)  In contrast to the world, the believer does not save to gratify his own desires, but rather to…Part 3: Give All You Can.(Part 1: Gain All You Can)